South Africa’s market grows
The South African gaming market has reported optimistic results showing a potential growth of 5 percent.
South Africa.-The Gambling Outlook for South Africa: 2017-2021 report was published by the auditing firm PwC revealing optimistic expectations for the development of the South African gaming market. The country’s gross gaming revenue (GGRs) has been set at R35 billion (US$2.5 billion) by this time of the year in 2021.
PwC South Africa’s gambling industry leader Pietro Calicchio commented: “The gambling industry in South Africa will continue to be adversely affected in the near term by slower economic growth, but improving economic conditions over the latter part of the forecast period will aid growth. The industry remains an important contributor to the economy through the creation of jobs, continued capital expansion and the payment of taxes to both provincial and national government.”
The annual increase will set the industry from current R27 billion (US$1.9 billion) to R35 billion, representing a total growth of 5.1 percent. According to the report, “gambling taxes and levies, which rose 4.9 percent to R2.7bn last year, would grow at 5.2 percent compound annual rate to R3.5bn in 2021.”
The classic casino industry is expected to continue its leadership in the South African gaming market. In total, casino sector represents 66 percent of total GGRs this year. It was followed by the betting segment at R430 million.
