Online Casino Is Positive For The South African Game Market

The gaming market in South Africa is reportedly expected to generate a combined annual gross revenue of at least ZAR35 billion. ($ 2.49 billion) in 2021 and contributes to a total tax annually of around ZAR3.5 billion ($ 249.49 million).

According to a report from the Johannesburg-based newspaper Business Report, this prediction was published in the sixth edition of the Gambling Outlook for South Africa investigation published by professional firm PricewaterhouseCoopers International Limited.

Positive Online Casino For South African Gaming Market its forecast for combined gaming gross revenue will represent a jump of more than 29% from last year’s tally of ZAR27 billion ($ 1.92 million) with a tax levy amount also exceeding 2016’s tally of more than ZAR2.7 billion ($ 192.75 million).

The newspaper explained that bingo was highlighted as the fastest growing industry sector as it posted a 36.6% increase last year in gross gaming revenue last year. These activities reportedly accounted for 5% of combined revenue, which is a 1% increase from 2015, with Gauteng Province taking the lead after recording a 37.6% increase to ZAR813 ($ 58.13 million).

Pietro Calicchio at PricewaterhouseCoopers International Limited reportedly told Business Reports that the South African gaming industry will “continue to be badly affected in the near term by slower economic growth” before improving conditions near 2021 “aid growth”. “The industry remains an important contributor to the economy through job creation, continued capital expansion and tax payments to provincial and national governments,” Calicchio reportedly told the newspaper.