iGaming Business – Revenue from all forms of gambling in South Africa has increased during 2013 despite the economic slowdown, according to a survey by professional services firm PricewaterhouseCoopers (PwC).
The report recorded gross gambling revenue of ZAR16.4 billion (€1.2 billion/$1.6 billion) in 2012, a total of which 78% was generated from casinos.
Nikki Forster, PwC’s gambling leader, highlighted casinos as the gambling market leader in the country, with the market for limited pay-out machines (LPMs) “far below” its potential as the opportunity remains for more to be installed.
“The casino market has virtually reached its maturity with 38 out of a possible 40 casinos already licensed and 37 in operation,” the report said. “As a result, expansion in the number of casinos will not drive growth for this segment. Instead, casino operators are investing in their existing facilities in order to boost revenue.”
Sportsbetting and horseracing gross gambling was the largest category behind casinos having generated R2.6 billion, while bingo proved to be the fastest-growing sector with an 86% increase. Gross gambling for LPMs accounted to ZAR1.5 billion.
