Home Entertainment South Africa’s Multi-Billion Gambling Industry Reach R390 Billion in 2018

South Africa’s Multi-Billion Gambling Industry Reach R390 Billion in 2018

0
0

Gambling in South Africa is a multi-billion-rand industry that in 2018 brought in R30 billion in gross winnings. The figure includes bingo, horse racing and sports betting, although the most significant portion is drawn from on-land casinos.

Casino Revenue in South Africa

In South Africa, the 2018 figures show that gambling brought in a total turnover in money wager of just over R390 billion, of which R276.5 billion was at on-land casinos. The Gross Gambling Revenue for the entire industry was R28.7 billion, land-based casinos took R18.42 billion, which represents a 93.3% payout in winnings.

Casinos Second Largest in Payouts to Bingo

Casinos offer the highest payout rates when it comes to gambling, which is only second to that of bingo. But what you have to remember is that even though a large chunk of it did find its way back into the gambler’s pocket. The house always wins, and in this instance, the house wins big, very big.

Tsogo Sun Hotel and Casino

When the Tsogo Sun Hotel and Casino published its annual reports, it showed that the casino brought in revenues, which is after payouts of R9.8 billion in the financial year of 2019. When you combine the gambling revenue with food, other services and casino stays, the amount reaches R11.6 billion. The largest casino in the group is Montecasino; its revenues came to the most significant amount of R2.7 billion. The second largest is Suncoast Casino and Hotel with R1.7 billion, followed by Gold Reef City with R1.5 billion and R691 million by Silverstar Casino.

Sun International Hotels and Casinos

Sun International reported wins for the year up to December 2018 of R8.9 billion in its operations in South Africa. These include casinos such as Carnival City, Sun City and Time Square based in Pretoria. The largest casino in the group is the Cape Town-based GrandWest Casino that enjoyed the highest earning of R2.2 billion. Sun City brought in R1.7 billions, and Sibaya added R1.26 billion.

The legality of Gambling in South Africa

Online gambling remains illegal in the country, although online betting through bookmakers that are licensed in South Africa is legal. The National Gambling Board of South Africa makes it clear that anyone gambling online will lose their winnings. The payouts will be confiscated before it reaches your account by the bank. At the same time, South African citizens that gamble at online casinos face criminal charges that could have a significant impact on the rest of their lives. While many countries are looking at changing laws to include online casino gambling, the law remains unchanged in South Africa.

Land-Based Casinos in South Africa

The land-based casino owners in the country are Tsogo Sun and Sun International which owns casinos such as Emnotweni, The Ridge, Goldenhorse and the Wild Coast Sun. Other casinos that are part of hotels include Gold Reef City, Sun City, Suncoast, GrandWest and Sun City.