SunBet CEO Simon Gregory has emphasized that the company's investment in technology and product development is pivotal for reaching its goal of doubling its online market share in South Africa. This ambitious target was highlighted by Sun International CEO Ulrik Bengtsson during the recent Capital Markets Day after some astonishment from observers regarding the feasibility of growing from a current share of 4.5% to 9% within five years.
The company has already made strides in expanding its operations, launching in Namibia, while parent company Sun International reported a 35.5% year-on-year revenue increase from its online brand in the first half of 2026.
Acknowledging the challenge ahead, Gregory describes the target of doubling their market share as “super ambitious” but believes in setting significant goals. "I don’t have any problem with setting out big targets and big ambitions," he told iGB. Gregory equates this journey toward that ambitious target as necessary, stating, "if you can get some way towards that you’ll have done nicely. It’s a journey, not a target, right?"
As for SunBet's current market position, Gregory indicated some uncertainty, noting that only Sun International and competitor Betway (part of Super Group) are publicly listed operators in the South African online market. However, he is optimistic about SunBet’s potential growth. "We’ve got small [online] market share, somewhere in the region of 3% to 5%, so there’s plenty to go after," he said, acknowledging the dominance of Betway and Hollywoodbets.
During the Capital Markets Day, Bengtsson mentioned a more aggressive approach to gaining market share through technology and product investment. Gregory echoed this sentiment, stressing the importance of having a first-rate product that is user-friendly and scalable. "Technically, it requires us to be world-class. And those technical innovations always take time. But we’re going to need to invest heavily in our technology and our product to make it better," he explained.
Gregory underscored the necessity of establishing both quality and popularity: "Someone said to me, there’s a difference between being good and being popular, right? But we need to be both. So first, we need to get good, and then we need to get popular."
Investment efforts will focus on upgrading SunBet’s technology and bringing more operations in-house, which should enhance agility and direct oversight. "We need to be fully scalable, efficient, have an outstanding UI, UX, have a great range of products, have features and functionality," he explained.
Looking at the sports betting segment, SunBet currently derives around 90% of its revenues from casino operations. However, Gregory recognizes the need to develop their sportsbook offering. "We’re certainly under-indexed on sport, and that’s probably due to the growth in our casino business, coming from our casino heritage," he said, confirming that the operator is actively working on enhancing its sportsbook offerings to attract more customers.
The ongoing upgrades include new software and improvements to the user interface, expected to present a revamped sports product by December.
With a presence in Namibia, Botswana, and South Africa, SunBet also holds licenses in Ghana, Zambia, and Kenya, although operations in these countries are yet to commence. Gregory expressed that further African expansion would be approached cautiously. "We’re cautious about other greenfield African expansions. I think you’ve seen a lot of European guys come in, spend a lot of money in Africa, not get much traction and leave," he stated.
Bengtsson has pointed out potential “inorganic opportunities” for growth inside and outside South Africa but emphasized a stringent evaluation for such investments. Gregory reiterated the interest in mergers and acquisitions as a pathway to gaining market presence, detailing the criteria needed for positive outcomes.
"We can do well in both," Gregory stated, addressing how to balance the goal of increasing market share in South Africa while considering further expansion. "It’s just a matter of resourcing."
