South Africa’s gaming market keeps growing with a strong sports betting industry.
South Africa.- South Africa’s National Gambing Board has published its annual report, revealing the industry’s results during the period 2016-2017. According to the document, gaming revenue in the African country increased by 3.8 percent, although tax revenue dropped by one percent to US$1.9 million.
Whilst casinos scored the highest amount with a 64 percent, sports and horse betting revenues increased 14.3 percent and bookmakers’ GGR increased by 22 percent, mainly due to the 2016 European Championships in football. The limited payout machine market increased by 14.1 percent reaching a total of US$1.4 million, probably due to the installation of machines in all provinces.
As revealed earlier this year, the casino industry in South Africa is still the most important sector of the country’s gambling market. The information collected goes back to the end of 2015 and forecasts to 2020. The company stated that South Africa will experience a 6 percent annual growth until 2020, with US$2.6 billion in revenue, almost US$600 million more than two years ago. Whilst casino revenue went through a 6.7 percent expansion in 2015, PwC estimates that the market will grow to US$1.6 billion three years from now. Despite the overall good numbers, the market has been shrinking in the past few years, from 81 percent in 2011, to 70 percent in 2015.