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This particular lawsuit involving Fox Financial, one of a growing list IPI is battling, centers on an arrangement the company made with a third party, Forson Holdings. That entity had leased property from Fox in 2016, but fell behind. IPI had signed as a guarantor of that lease agreement and, as such, was responsible for covering Forson in the event payments weren’t made. However, it decided it didn’t need to follow the terms of the contract.
It seems like not a day goes by without IPI coming under fire for something else. The company’s chairwoman, Cui Li Jie, has already found herself in trouble and was previously held in contempt of court, but now has another black mark beside her name. She has been found in contempt again, this time for allegedly perjuring herself in court. A lawyer representing employees suing IPI and Cui produced evidence proving she had lied under oath, and Chief Judge Ramona V. Manglona has now agreed. She issued her ruling this morning, with Cui only able to respond, through an interpreter, “I don’t know anything, I don’t understand English.”
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H1 growth was driven by Sun International’s online division, with revenue from SunBet surging 35.5% year-on-year to R1.18 billion.
Sun International CEO Ulrik Bengtsson noted SunBet’s revenue growth of 35.5% outpaced the 19% South African online market’s overall growth of 19% during the period,
SunBet’s growth was supported by a 32.3% rise in active player days, while first-time depositors also increased 17.5%.
What is slot machines?
Flutter has arguably the strongest online franchise of the four. Its share price fell from $282.33 on 18 September 2025, to $89.56 on 18 September this year, with a market valuation of $15.54 billion.
FanDuel remains the leading US sportsbook, while Flutter’s international businesses provide additional sources of growth. But that quality comes with high expectations.
Beynon describes Flutter as “the highest-quality online betting franchise globally”, with FanDuel’s leadership position providing “significant long-term value”. The problem is that the market is increasingly questioning how much future earnings growth can be generated from that position as the industry matures.