FRIDAY, 3.00PM:
SOL KERZNER’S Sun International Hotels reports record third quarter results, with earnings per share 96% up on the same period last year. The Company generated net income of $17,2 million compared to net income of $7,7 million for the same period last year. For the nine months ended September 30, the Company achieved earnings per share before non-recurring items of $1,70. The company has plans for two ambitious US-based developments:
The Atlantis Resort which will be expanded with Sun City-style casino, lagoon and marina complete with “ocean themed adventure” and a huge convention centre,to cost $450 million.
The Beach Club, a $150 million expansion of the Resorts Casino Hotel in Atlantic City, New Jersey, for which Sun recently aquired a gambling licence.