South African gamblers keep spending despite economic woes
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Casino Association of SA (Casa) has presented the latest revenue figures of the gambling industry in the country. According to the report, Gauteng is the top-grossing province‚ generating R8.01bn of the gross gambling revenue (43 per cent). KwaZulu-Natal is the second, with R3.51bn, followed by Western Cape, which generated R2.92bn.
Gauteng hosts the highest number casinos, with seven casinos. KwaZulu-Natal‚ the Western Cape and the Eastern Cape have five casinos each.
In total the country’s casinos housed 922 tables‚ with each table generating on average R4.52m. There are 24‚508 slot machines as well‚ which generate R582‚991 per machine.
In spite of the impressive figures, Themba Ngobese, the CEO of Casa, is vary about the economic slowdown in the country: “While this increase is definitely encouraging‚ as an industry we are still held back by a tough economic climate as well as the impact of illegal gambling activities.”
“Our biggest competition is actually retail. A family that has R1‚000 (67.52 USD) to spend on entertainment is most likely to go to a restaurant because at the Spur, mom‚ dad and kids can have something to eat and have fun as opposed to choosing the option to gamble.”
Casa was founded in 2003 and its members include Tsogo Sun‚ Peermont Global and Caesars Entertainment.
Ngobese said certain regulatory constraints such as smoking legislation are challenges to gambling industry. He warned that the proposed Control of Tobacco Products and Electronic Delivery Systems Bill could reduce the GGR (R3.16bn) by 18 per cent.
“The knock-on effect would be massive with as many as 4‚000 direct and indirect industry jobs on the line.”
Ngobese also highlighted concern over illegal gambling. “This not only affects the bottom line of licensed casinos‚ but society at large‚ as tax revenues‚ employment opportunities and associated economic activities are suppressed.”
Source: businesslive.co.za
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