More bingo terminals, bigger payouts
The international accounting firm of PricewaterhouseCoopers says the South African casino industry will face a slowdown in the coming years due to increased competition from bingo and sports betting.
The South Africa Business Day cited a PwC report on the outlook for gaming in South Africa, Nigeria and Kenya through 2018. It predicted slow growth for the South African gaming industry, with year-to-year growth of about 0.6 percent. The slowdown follows a weakening economy, more bingo and sports betting opportunities, and an increase in the payout rate to 93.4 percent last year from 93.2 percent in 2012, the Day reported.
“We expect continued slow growth in SA over the next two years,” the report said. “We then look for a pick-up in growth in each country as economic conditions improve.” The 2013 slowdown “was due in part to growing competition from electronic bingo terminals, limited payout machines and sports betting shops, which are becoming more prevalent.”
