South Africa's Casinos Take in 10 Billion Rand
19 June 2005
South Africa’s Casinos have taken off this year with a 22% increase in overall take from March 2004 to March 2005. This year, South African Casinos took in 10 billion rand (about $1.5 billion), a jump from last year’s R8.1bn ($1.2 billion).
The number reflects the casinos’ revenues after paying out all winnings, but before calculating costs or taxes, which is more accurate than measuring overall turnover, because many gamblers wager their winnings.
Of the overall revenues, Gauteng casinos accounted for 44%, while KwaZulu-Natal and Western Cape’s casinos accounted for 16% each.
87.6% of the revenues came from casinos, while another 11.9% came from horse racing and other pari-mutuel betting facilities. Only .5% came from bingo and limited payout machines. Those numbers are expected to rise as limited payout machines are licensed in more and more provinces.
Source: Authorized Online Casinos News Staff
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