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Land-based gross profit dipped 0.7% to R2 billion, however, with the company’s investment in the segment increasing over the period.

Bengtsson said the revenue gains from recent investment efforts should translate into improved operating leverage as the casino business continues to grow.

“The sustainability in the operational improvements and in our market share gains are clearly there,” he said. “Those are real, and they are happening right now.

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The ruling is the latest twist in a dispute dating to 2012 that has involved allegations of government interference, a failed settlement, and three international arbitration awards.

Baldwin and fellow casino entrepreneur Shawn Scott arrived in Laos in 2007 with ambitious plans to build a casino business aimed partly at customers crossing the country’s borders.

The pair established Sanum Investments and partnered with Laotian conglomerate ST Group. Baldwin later testified that the investors initially committed around $7.5 million to the venture, which envisaged two casino resorts and several slot clubs.