MlungisiMvoko, a member of the executive council of economic development for the Eastern Cape, has come out strongly in favour of the full legalization of gambling in South Africa. According to the MEC, who was speaking at the 15th Gaming Regulators Africa Forum in Port Elizabeth, a legal gambling market in South Africa has the potential to create thousands of jobs and increase tax revenue significantly.
Addressing the audience which had come as delegates to the conference to the Boardwalk Hotel, Mvoko said that it was still his “fervent belief that through the infusion of new technologies in the 4th Industrial Revolution and optimal regulation, gaming could lead to an increase in the revenue base of the [Eastern Cape] province.”
The MEC said that it came as no surprise that technology has had a remarkable impact on the gaming industry around the world.
“If you are wondering how technology is impacting the gaming industry, then you need to look no further than how a cryptocurrency like Bitcoin has revolutionized the realm of online users,” he said.
Mvoko said that the gambling industry provides Africans with another source of recreation, and also generates tax revenue and employment. Because of the gambling industry, he said, the Eastern Cape’s economy grew by over R985 million over the last five years. Unfortunately, a global economic crisis has brought about a direct decline of the industry.
“It is therefore critical that alternative industries like legalized gaming are enhanced to diversify our economic base,” he said.
The 15th Gaming Regulators Africa was themed on the very subject discussed by MEC Mvoku: “Fourth Industrial Revolution and its Impact on Gaming in Africa.” The conference focused on global economy shifts and this impacts the world gaming industry as a whole, and Africa as a continent.
Multiple African countries sent representatives to take part in this year’s conference, including:
• South Africa