PDF 25 MB - Sun International | Investor Centre

More documents

Recommendations

Info

SUN INTERNATIONAL ANNUAL REPORT ’10 EQUITY PARTNERS Our equity partners are an integral part of Sun International’s success. They contribute skills, insight and creativity and allow the company to spread the benefits of its success to a wide-ranging group of South Africans. They are highly valued partners in our business and in our future. Refer to page 77 on transformation for the BEE ownership of the group and its subsidiaries. Other equity partners in various group subsidiaries are: 58 Company Partner % holding SFIR Novomatic Austrian slot machine manufacturer with interests in casinos and sport betting 40% Chilean Enterprises Private investors 10% International Group of Gaming and Resorts Private investors 10% Lesotho Government of the Kingdom of Lesotho 36.4% Lesotho National Development Corporation 16.7% Swaziland Tibiyo Taka Ngwane Swaziland development corporation established for the benefit of the Swazi people Botswana KYS Investments Limited Botswana government development agency 20% TCN Ikeja Hotels Limited Listed Nigerian company controlled by the Ibru family 49% SUPPLIERS Suppliers play a critical role in the success of Sun International and they constitute not only a family of service providers and external experts, but investors in our business and its future. They provide the group with a wide range of services in disciplines as varied as IT and human resources to landscaping and food and beverages. They co-operate closely with us on issues ranging from B-BBEE to standards improvement and cost control. 39.7% Many of them have been supplying Sun International for well over a decade and partner with us on continuous improvement, constant innovation and value added services. Our group code of ethics commits management and employees to the highest ethical standards of conduct and the code articulates the group’s commitment to its stakeholders, including our suppliers (see page 96).
CONCESSIONAIRES Our concessionaires are close partners with us in all our properties and provide focused goods and services to our guests at the very highest standards of excellence. Given the symbiotic relationship they have with the group and the fact that their brands work closely alongside our brand, they work with us on customer standards, service delivery and exceeding customer expectations. Many of our concessionaires have concessions throughout the group’s properties and have become part of the customer experience and expectation. The group’s B-BBEE scorecard is demonstrably affected by their ability to deliver real empowerment and in this, many of our concessionaires – both older and emerging – have been particularly successful. COMMUNITIES Sun International is committed to good corporate citizenship, responsible leadership and the responsible management of our obligations to and impact on all sectors of society. Our aim is to have a positive impact on society, while minimising environmental risks and making a sustainable contribution to the economy and society. In the year under review, our total corporate social investment spend was R20 million. Our projects are managed both centrally and by unit, with our properties focusing on the immediate communities in the areas of their operations. Contributions are focused on a number of projects within the areas of Health and Welfare, Education and Community Development. In Health and Welfare, projects such as Reach for a Dream, the Tapologo AIDS Hospice and Emmanuel’s Haven receive substantial assistance from Sun International and provide care for children in distress or in need. The Palace of the Lost City JOINT REPORT OF THE CHIEF EXECUTIVE AND CHIEF FINANCIAL OFFICER continued 5. BUSINESS PARTNERSHIPS In Education, secondary schools, bursary funds and the Study Trust receive financial aid from the company in areas from the Setotolwane Elsen Secondary School in Limpopo to the GrandWest CSI Bursary Fund in the Western Cape. Within community development, programmes such as Blisters for Bread, which is funded to the extent of R1.5 million and the Grootvaly Conservation Project in Gauteng are helped in their social and environmental efforts. The company is also one of the major sponsors of the South African paralympic team which competed in Beijing this year and will compete in London in 2012. Sun International is also a founding member of the Arts and Culture Trust which has supported more than 500 projects throughout the country. In a judgement handed down in March 2010 the Land Claims Court ordered that the land on which the Fish River Sun complex is located be restored to the Mazizini community. An application has been lodged with the Land Claims Court for leave to appeal the judgement to the Supreme Court of Appeal in Bloemfontein. The hearing date of the application still has to be confirmed. Other communities share in different ways. For example, as part of a possible solution to the claim by the Mngungundlovu community for the land where the Wild Coast Sun is situated, we are evaluating various commercial exercises to enable us to put forward proposals to the community and the government – as the owner of the land. As part of the negotiations around the Wild Coast Sun’s new casino licence, the Wild Coast Sun deposited R2 million into a trust account to be used by the land claimants to secure professional advice to assist in the settlement of their land claim. Communities also share in our success through ownership of shares, such as with GPI, which has many thousands of investors who placed their faith in the company from the first day. 59 59
Page 1 and 2:
ANNUAL REPORT 2010
Page 3 and 4:
ABOUT THE INTEGRATED REPORT This re
Page 5 and 6:
Carnival City AFRISUN GAUTENG 85% 8
Page 7 and 8:
Monticello
Page 9 and 10: KEY STRATEGIC IMPERATIVES 3. OUR CU
Page 11 and 12: Energy management Communities Publi
Page 13 and 14: Non-Executive Directors MP (MIKE) E
Page 15 and 16: KH (Kele) Mazwai (41) / GROUP HUMAN
Page 17 and 18: INTRODUCTION This past year has onc
Page 19 and 20: Morula APPRECIATION On behalf of th
Page 21 and 22: AT A GLANCE FINANCIAL HIGHLIGHTS Wi
Page 23 and 24: TRADING AND GROUP OPERATING PERFORM
Page 25 and 26: Operational overview - Casinos and
Page 27 and 28: GrandWest JOINT REPORT OF THE CHIEF
Page 29 and 30: Gaming taxes by province and countr
Page 31 and 32: DIVIDENDS 1. SHAREHOLDER DELIVERY T
Page 33 and 34: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 35 and 36: The Royal Livingstone 33
Page 37 and 38: AT A GLANCE 2. PROTECT OUR BUSINESS
Page 39 and 40: By the end of February, the number
Page 41 and 42: WILD COAST SUN The local community
Page 43 and 44: Our market share South Africa Gamin
Page 45 and 46: We estimate that the group’s shar
Page 47 and 48: Carnival City 45
Page 49 and 50: OUR OBJECTIVES IN THIS SECTION: JOI
Page 51 and 52: FEEDBACK ON THE CM INITIATIVES/PROJ
Page 53 and 54: 51 51
Page 55 and 56: AT A GLANCE WHAT WE ACHIEVED Final
Page 57 and 58: CAPITAL COMMITMENTS Capital commitm
Page 59: AT A GLANCE JOINT REPORT OF THE CHI
Page 63 and 64: AT A GLANCE IN THIS SECTION: JOINT
Page 65 and 66: In line with global trends for lead
Page 69 and 70: Beneficiaries of training 2010 Bene
Page 71 and 72: Training investment model JOINT REP
Page 73 and 74: JOB PROFILING Also forming part of
Page 75 and 76: Occupational hygiene and legionella
Page 77 and 78: OUR OBJECTIVES JOINT REPORT OF THE
Page 79 and 80: The table below sets out the direct
Page 81 and 82: MANAGEMENT JOINT REPORT OF THE CHIE
Page 85 and 86: GOLDEN VALLEY CASINO & LODGE’S EN
Page 87 and 88: INCIDENTS JOINT REPORT OF THE CHIEF
Page 89 and 90: Efforts to establish the Nedbank Go
Page 91 and 92: Our property ratings Rm 2010 2009 2
Page 95 and 96: AT A GLANCE JOINT REPORT OF THE CHI
Page 97 and 98: SHAWCO - This student-run NGO at th
Page 99 and 100: REGULATORY COMPLIANCE The South Afr
Page 101 and 102: OUR COMMITMENT CORPORATE GOVERNANCE
Page 103 and 104: Principle Action Outcome Independen
Page 105 and 106: The group’s governance is facilit
Page 107 and 108: The chief executive is mandated and
Page 109 and 110: Board meetings A minimum of four bo
Page 111 and 112:
The audit committee is primarily re
Page 113 and 114:
The committee has adopted a written
Page 115 and 116:
The key risks that are identified,
Page 117 and 118:
Internal control The board of direc
Page 119 and 120:
The group has continued to actively
Page 121 and 122:
Group 2010 2009 2008 2007 2006 2005
Page 123 and 124:
Group statistics 2010 2009 2008 200
Page 125 and 126:
Types of shareholders at 30 June 20
Page 127 and 128:
principles of inclusivity, material
Page 129 and 130:
The board and the remuneration comm
Page 131 and 132:
Prior to the commencement of the re
Page 133 and 134:
the travel and leisure sector that
Page 135 and 136:
Share plan Date of grant Grant pric
Page 137 and 138:
Emoluments Executive directors’ r
Page 139 and 140:
for the year ended 30 June NOTES TO
Page 141 and 142:
The annual financial statements whi
Page 143 and 144:
TO THE MEMBERS OF SUN INTERNATIONAL
Page 145 and 146:
HOLDING COMPANY The company has no
Page 147 and 148:
which the entity operates (the func
Page 149 and 150:
elating to certain firm commitments
Page 151 and 152:
expenditure represents the total co
Page 153 and 154:
government and other government rel
Page 155 and 156:
GROUP STATEMENTS OF FINANCIAL POSIT
Page 157 and 158:
Notes GROUP STATEMENTS OF CHANGES I
Page 159 and 160:
for the year ended 30 June Operatin
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
14. PROPERTY, PLANT AND EQUIPMENT (
Page 167 and 168:
15. INTANGIBLE ASSETS (continued) S
Page 169 and 170:
for the year ended 30 June 18. RETI
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
for the year ended 30 June 27. PROV
Page 181 and 182:
for the year ended 30 June 28. CASH
Page 183 and 184:
Page 185 and 186:
29. FINANCIAL INSTRUMENTS (continue
Page 187 and 188:
32. RELATED PARTY TRANSACTIONS Key
Page 189 and 190:
32. RELATED PARTY TRANSACTIONS (con
Page 191 and 192:
NOTES TO THE GROUP FINANCIAL STATEM
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
COMPANY STATEMENTS OF FINANCIAL POS
Page 199 and 200:
COMPANY STATEMENTS OF CHANGES IN EQ
Page 201 and 202:
NOTES TO THE COMPANY FINANCIAL STAT
Page 203 and 204:
Page 205 and 206:
Page 207 and 208:
Notice is hereby given that the twe
Page 209 and 210:
Litigation statement The directors
Page 211 and 212:
SUN INTERNATIONAL LIMITED (Incorpor
Page 213 and 214:
SUN INTERNATIONAL LIMITED Incorpora
show all

PDF 25 MB - Sun International | Investor Centre

Create successful ePaper yourself

Delete template?

Save as template?