Sun International is undergoing significant changes in two key areas of its operations – mergers and acquisitions, and senior leadership.
Earlier, the South African gambling group announced the cancellation of its planned acquisition of Peermont Holdings Proprietary Limited, citing regulatory timeline issues that led to the deal being terminated. The cancellation came just one day before Ulrik Bengtsson officially assumed the role of CEO at Sun International, replacing Anthony Leeming.
In a statement to shareholders, Sun International explained that the acquisition of Peermont was canceled due to conflicting dates: a hearing at the South African Competition Tribunal was scheduled for 2 October 2025, while the regulatory deadline for the deal was set for 15 September 2025. This scheduling conflict arose following a recommendation by the South African Competition Commission to block the transaction – even though shareholders had already approved it back in March 2024.
In its findings, the Commission stated that the deal could significantly reduce competition in the casino sector in South Africa and Central Gauteng, potentially decreasing the number of casino operators from three to two. As a result, 92% of casinos in the country would end up being owned by just two companies, further increasing concentration in an already highly consolidated market.
The Commission emphasized: “New market entry is unlikely due to the limited number of available casino licenses. In Central Gauteng in particular, there are no unallocated casino licenses. Furthermore, the merger would result in SISA owning and operating casinos in prime locations, giving it a significant competitive advantage.”
Although the Competition Tribunal has the authority to approve the deal despite the Commission’s recommendation, the hearing date being after the regulatory deadline made it impossible to complete the transaction within the required timeframe. All parties therefore agreed to immediately terminate the proposed acquisition.
As previously noted, the cancellation of the Peermont acquisition happened during the same week that Ulrik Bengtsson officially took office as CEO and was appointed as an Executive Director of Sun International. His appointment was initially announced in March 2025. He replaced Anthony Leeming, who also stepped down as Executive Director but will remain with the company until the end of the year to ensure a smooth leadership transition.
Sun International expressed its gratitude to Leeming for his leadership over the past eight years, also noting that he will be stepping down from the Social and Ethics Committee as well as the Risk Committee.
Leeming said: “It has been an absolute privilege to lead Sun International over the past eight years.
“I would like to thank all of our stakeholders, including shareholders, the board and all the dedicated people of Sun International for their confidence in my leadership and support. I look forward to working closely with Ulrik during the transition period as he assumes leadership of the group.”
Bengtsson brings extensive experience in the gaming industry. He served as CEO of William Hill from September 2019 to September 2022, and before that, was CEO and later President of Betsson.
Bengtsson stated in March: “Sun International is an iconic leisure group with a proud heritage, and a unique growth opportunity to become a leading omnichannel player in the rapidly evolving global gaming landscape.
“I am thrilled to bring my experience and expertise to this fantastic organisation as Chief Executive and look forward to working with the board and colleagues to drive its continued success and chart a bold path forward into the future.”
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