Despite weakening economies the industries numbers have raised.
South Africa.- Reports have shown that gross gambling revenues in South Africa posted their second-largest annual increase over the past five years. According to the findings from PwC’s second annual edition on the gambling industry, casinos gross gambling revenues have risen by 10 percent, sports betting by 19.30 and bingo by 86 percent. The overall numbers show that in 2014 the overall gambling gross rose by R2.1bn in 2014.
Entitled ‘Betting on Africa: Gambling Outlook for 2013 – 2017 (South Africa – Nigeria – Kenya,)’ the publication uses historical data provided by the National Gambling Board of South Africa and focuses on segments within the gambling industry, that include both forecasts and analysis. For the first time the study includes Nigeria and Kenya
Regarding expectations for the future, the publication states that most sectors of the market -minus national lottery- are expected to expand in the next five years to R30.3bn, a 4.8 percent compound annual increase.
Nikki Forster, PwC Gambling Industry Leader for South Africa, explained: “The South African gambling industry is vibrant and exciting, while at the same time facing the challenge of a changing regulatory environment and the impact of reduced consumer spending during an economic downturn.
The overall casino market in Nigeria is limited due to the low number of licences in issue reflecting the high cost of investment in casino operations versus the limited size of the gambling market. Consequently, the casino market in Nigeria is only a fraction that of South Africa. In Kenya, gambling laws are much more open than in Nigeria or South Africa. Gambling is considered a leisure activity that generates tax revenue.”