It's being reported that South Africa's gaming market is set to substantially grow in annually aggregated gross revenues of about $2.50 billion by the year 2021 with total tax contribution of $249.49 million per year.
As indicated by a report from the Johannesburg-based Business Report daily newspaper, this forecast is contained inside the 6th yearly release of the Gambling Outlook for South Africa examination distributed by proficient administrations firm PricewaterhouseCoopers International Limited.
The newspaper revealed that the predicted 2021 figure for gaming revenue would reach up to 29% increase from a year ago's count of $1.92 million with taxes also surpassing 2016's retribution of $192.75 million.
In addition, the report also allegedly clarifies that South African Casinos, which employ over 10,000 individuals all over the country, represents somewhere in the range of 66% of last year's gross gaming incomes and paid $128.84 million in charges while the wagering part sat second with a consolidated commitment of $30.73 million.
PricewaterhouseCoopers International Limited report also anticipated that bingo's yearly net gaming income by 2021 would hit $157.37 million, which would contribute to a growth rate of almost 12%.
Pietro Calicchio from PricewaterhouseCoopers International Limited told to Business Report that South Africa's gaming industry would "continue to be adversely affected in the near-term by slower economic growth" before enhancing conditions as it moves closer to 2021 'aid growth'.
Calicchio reportedly told the newspaper that “The industry remains an important contributor to the economy through the creation of jobs, continued capital expansion and the payment of taxes to both provincial and national government,”.
