SunBet's CEO Simon Gregory emphasizes that technological investment and product enhancement will be crucial as the operator aims to significantly increase its online market share in South Africa, targeting a doubling of its current 4.5% within five years. This ambitious goal was initially introduced by Sun International’s CEO Ulrik Bengtsson earlier this year during the company’s Capital Markets Day, which raised eyebrows among industry observers.
Since that announcement, SunBet has expanded its reach by launching operations in Namibia. Furthermore, Sun International reported a 35.5% year-on-year increase in revenue from its online operations for the first half of 2026.
Gregory acknowledges the challenges associated with this objective, calling the target "super ambitious" but insists he is ready to embrace it. "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?"
While details on SunBet's progress are somewhat murky, Gregory points out that currently, Sun International and Betway (part of Super Group) are the only publicly listed online operators in South Africa. However, he is confident that SunBet has made noteworthy progress since the initial growth strategy was shared, despite facing fierce competition from established players like Betway and Hollywoodbets.
"We’ve got small [online] market share, somewhere in the region of 3% to 5%, so there’s plenty to go after. We are probably third or fourth in the market right now. The two incumbents—Betway and Hollywoodbets—have massive market share, so there is opportunity to take market share from them," he said. He also noted that smaller operators may struggle in the long term to compete with the larger companies.
Technology will play a pivotal role in SunBet's strategy moving forward. During the Capital Markets Day, Bengtsson highlighted the need for a more aggressive approach to market share acquisition through technology investments. Gregory echoed these sentiments, stating, "Product is going to be key and having an outstanding product, which is technically efficient and easy to use, is going to be paramount to winning in any of these markets."
He further emphasized the necessity for SunBet to elevate its technological capabilities: "Technically, it requires us to be world-class. Those technical innovations always take time. But we’re going to need to invest heavily in our technology and product to make it better."
Gregory remarked on the distinction between being good and being popular: "First, we need to get good, and then we need to get popular."
Investment will primarily focus on enhancing SunBet’s technology infrastructure, bringing more processes in-house to increase operational speed and control over its growth trajectory. "We need to be fully scalable, efficient, have an outstanding UI, UX, a great range of products, and robust features and functionality," he explained.
In examining SunBet's market positioning, Bengtsson mentioned that the split between casino and sports betting is approximately 90% in favor of the casino. Gregory acknowledged the operator's shortcomings in sports betting but indicated that efforts are underway to boost their sportsbook offerings. He noted that multiple upgrades are taking place to enhance the sportsbook's appeal, with expectations for a revamped experience by early December.
SunBet’s recent launch in Namibia marks its third market entry, following Botswana and South Africa. Although it holds licenses in various African nations, including Ghana, Zambia, and Kenya, the company has yet to commence operations in those locations. Gregory expressed a cautious stance regarding further expansions, focusing on growth in Namibia first.
"We’re cautious about other greenfield African expansions. You’ve seen a lot of European companies come in, spend a lot of money in Africa, not get much traction, and leave," he remarked.
Despite a possible focus on merging and acquisitions (M&A) to facilitate market entry, Gregory emphasized that such opportunities must meet strict criteria regarding data on internet penetration and mobile usage. He shared that SunBet is interested in pursuing high-quality M&A ventures that could help establish a significant presence in specific regions.
"A top three player in certain African jurisdictions that has a strong customer base and maybe some strong technology would be interesting for us," he said.
When questioned on balancing the goal of doubling market share in South Africa with exploring expansion opportunities, Gregory was clear: these objectives are not mutually exclusive. "We can do well in both. It’s just a matter of resourcing," he concluded.
