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S. Africans Just Want to Have Fun Gambling 2005-06-20
South Africans are having so much fun these days that they have gamed their way into a debt of $1.5 Billion, equivalent to the U.S dollar. Itís not specific to any one game or place; they play the casinos, horses, bingo, with limited payouts, this year until March of the same year. This is a 22% increase to that which was wagered last year. These statistics are straight from the hands of the National Gaming Board.
Gaming Groups have become more powerful with this increase. The businesses in the area such as the Sun International, Peermonet Global, Gold Reef Casino Resorts, Phumelela Gaming, and Leisure and Hosken Consolidated Investments (HCI) are the biggest investors in the casinos, have made out well. Income and profits couldnít be higher for the countries big gaming groups, those investors above included.
The board figures say that Gauteng takes 44% of the gross gaming revenue, only next to KwaZulu Natal and Western Cape at 16% a piece. 87.6% of that alone goes to the casinos, next to horse racing at 11.6% That is where the money is today in South Africa in its gaming districts.
The business just grows year after year, higher than most countries reported. There is no known theory for the high trend in S. Africa alone, but it is swirling the economy around. Next year there isnít a prediction of how things will go, but at this rate they can only get higher.
(By Sammy)