Simon Gregory, CEO of SunBet, has emphasized that investment in technology and product development is essential for the company to achieve its ambitious goal of doubling its online market share in South Africa. This goal was outlined earlier this year by Sun International's CEO, Ulrik Bengtsson, during Capital Markets Day, prompting interest within the industry as SunBet currently holds only 4.5% of the online market.
Since that announcement, SunBet has expanded its operations into Namibia. Moreover, Sun International reported in September a significant increase in revenue from its online brand, which surged by 35.5% year-on-year for the first half of 2026.
Gregory acknowledges that the target of doubling market share within five years is "super ambitious," but he embraces the challenge. "I don’t have any problem with setting out big targets and big ambitions. If you can get some way towards that, you’ll have done nicely. It’s a journey, not a target, right?" he stated in an interview.
Details on SunBet's progress toward achieving this goal are somewhat limited, particularly as only Sun International and its competitor Betway (part of Super Group) are publicly listed operators in South Africa. Despite the competition, Gregory believes SunBet has made "some progress" since the growth plans were first revealed. He noted that SunBet has a market share of roughly 3% to 5%, placing it third or fourth in the competitive landscape, dominated by Betway and Hollywoodbets.
“There is opportunity to take market share from them,” he said. He also remarked that smaller operators may face challenges competing with the larger companies in terms of market reach and product offering.
At the recent Capital Markets Day, Bengtsson expressed an intention for the company to be "more aggressive" in gaining market share through technology and product investment. Echoing this sentiment, Gregory highlighted the importance of having an outstanding, technically efficient, and user-friendly product. "It requires us to be world-class, and those technical innovations always take time. We’re going to need to invest heavily in our technology and our product to make it better," he said.
He further commented on the need to balance being good at their offerings with becoming popular, adding that improving the user interface (UI) and user experience (UX) is a priority for future developments.
Regarding the company's product portfolio, Gregory noted that SunBet is predominantly focused on casino operations, with approximately 90% of business attributed to this segment versus just 10% for sports betting. He recognizes that the sportsbook business is underperforming and that investments are underway to enhance it. "We’re certainly under-indexed on sport — that’s probably due to the growth in our casino business. However, we are putting a lot of effort into reimagining our sportsbook to grow that number," he stated.
To improve its sports betting product, Gregory mentioned that they are implementing multiple software upgrades and enhancements to make the sportsbook more attractive to customers. He indicated that users could expect a revamped sports betting product by December.
SunBet's recent entry into Namibia marks its third market, after South Africa and Botswana. The operator also holds licenses in Ghana, Zambia, and Kenya, but has yet to launch its services in those countries. As for future expansion, Gregory adopted a cautious approach, focusing on growth in Namibia before pursuing other opportunities. "I think you’ve seen a lot of European companies come in, spend a lot of money in Africa, not get much traction, and leave. We’re cautious about other greenfield African expansions,” he explained.
Bengtsson had previously stated that the company sees "plenty of inorganic opportunities" both within and outside South Africa but maintained a high threshold for investments. Gregory elaborated that mergers and acquisitions could facilitate entry into new markets, particularly if they meet criteria related to internet penetration and mobile payment usage.
He clarified, "We’ve been pretty clear in our public statements that we would be interested in high-quality M&A, where it would provide us with critical mass in certain geographies. A top three player in certain African jurisdictions with a strong customer base and brand would be interesting for us."
In response to inquiries about balancing the goal of doubling its market share in South Africa with expansion in other regions, Gregory stressed that these objectives are not mutually exclusive. "We can do well in both. It’s just a matter of resourcing," he concluded.
