According to a new report, South Africa’s gross gambling revenues (GGRs) are forecast to increase to R35 billion by 2021. This is a 5.1% compound annual increase from 2016’s GGR of R27 billion, it was shown. Price Waterhouse Cooper’s annual edition of its Gambling Outlook for South Africa: 2017 – 2021 report also predicted that gambling taxes would grow at a compound annual rate of 5.2%. Gambling levies would eventually increase from R2.7 billion in 2016 to R3.5 billion in 2021, read the report.
Slow Economy Affects Gambling Market Growth
According to Pietro Calicchio, the leader at Price Waterhouse Cooper for South Africa’s gambling industry: “The gambling industry in South Africa will continue to be adversely affected in the near term by slower economic growth, but improving economic conditions over the later part of the forecast period will aid growth.”