South African CasinosSilversands offers excellent bonuses which can be cashed out after a small playthrough requirement

South African Casino News Articles

 

Gamblers blow R10bn as casinos hit jackpot ( Business Day Article 17 June 2005 )

CAPE TOWN — South Africans blew R9,9bn gambling at casinos, on the horses, bingo and limited-payout machines in the year to March, a 22% increase on the R8,1bn they wagered last year, according to the latest statistics from the National Gambling Board.

This spending represents a significant increase in income and profits for the country’s big gaming groups and their empowerment partners, including Sun International, Peermont Global, Gold Reef Casino Resorts, Phumelela Gaming and Leisure and Hosken Consolidated Investments (HCI), all of which have invested heavily in casinos.

The National Gambling Board’s acting GM of strategic operations, Michael Burns, said on Wednesday that gross gambling revenue — casino income after winnings payouts, but before levies, taxes and operating costs — was a truer reflection of the amount spent by gamblers than total turnover, which contains some double counting because gamblers often used some of their winnings to bet again.

The return to punters is determined by legislation, and although it varies slightly from province to province it is generally about 80% at casino tables, about 85% at slot machines and about 75% on horse racing and totalisators because of their higher operating costs.

The board’s figures show that Gauteng takes 44% of gross gambling revenue, followed by KwaZulu-Natal and Western Cape with 16% each. Casinos account for 87,6%, or R8,7bn, of revenue from gambling, followed by the horse racing and totalisator industry with 11,9%, or R1,2bn.

Bingo and limited payout machines garner only 0,2% and 0,3% of gross gambling revenue respectively, but limited payout machines have made phenomenal progress in the two provinces where they have been established in the past couple of years.

In Mpumalanga, where these machines have been available for the full 12 months to end-March, revenue rose 24% to R6,25m by the end of March from R5,02m at the end of June.

In Western Cape, revenue from limited payout machines quadrupled to R7,6m in the fourth quarter from R1,9bn in the third quarter, as more machines were introduced.

In the limited-payout machine industry, Vukani Gaming, which is owned by HCI, has now secured licences in three provinces — Mpumalanga, Western Cape and Eastern Cape.

Strong consumer spending on gambling is reflected in the profits posted by major listed companies. Sun International recently reported that fully diluted headline earnings a share rose 61% in the six months to December over the year before, after a 19% increase in gaming revenues.

Gold Reef grew headline earnings a share 46,4% in the year to December — its sixth successive year of growth in headline earnings — while Peermont Global grew headline earnings 24,6% in the same period.

Charlotte Mathews

Consumer Industries Editor

More Casino News Articles

 


White Lotus Casino

White Lotus is a South African Online Casino

Bonus : R300.00 Free No Deposit Bonus.
R300NEW to claim

Software : RTG

Visit the Casino

White Lotus Casino Review


 


 

 


Club SA Casino

Screenshot of Club SA Casino

Bonus : 100% Bonus on 1st deposit up to R8 888.00.

Software: RTG

Visit the Casino

Club SA Casino Review

 

New South African CasinoAfriCasinoNew South African Casino

Claim your Bonus and Free Spins at AfriCasino

Bonus: Get up to R10 000.00 worth of bonuses and
100 wager free spins on your 1st 3 deposits

Software: Multiple software including GameArt, NYX, GameScale, Betsoft and more

Visit AfriCasino

AfriCasino Review


S
SA Casinos Home
asinos |

New South African Online Casino - AfriCasino - Play in Rands

 


South African Casino News Articles