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May 25 2012 13:58

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Port Elizabeth - Emfuleni Resorts, the current casino licence holder and owner of the Boardwalk Casino in Port Elizabeth, says that, if its licence is renewed, by 2025 it will contribute an estimated R20bn in tax revenue to the national and provincial fiscus.

By that time its total investment could amount to R2.6bn and it can be expected to have contributed as much as R26bn to indirect household income.

Clifford Ngakane, general manager of the Boardwalk, told the Eastern Cape Gambling Board on Wednesday that Emfuleni's contribution to social responsibility projects could rise to R126m over the next 15 years.

Should the licence not be renewed, thousands of jobs might be lost because the retail and other activities at the Boardwalk would not be able to continue without the feet attracted by the casino. About 70 community projects that the company continues to support could also go under.

For the past 10 years the Boardwalk has cross-subsidised the Fish River Sun - which is also owned by Emfuleni - to the tune of R72m. If the Boardwalk loses its licence, this popular resort and golf course near Port Alfred would be forced to close.

Ngakane was part of a high-level Emfuleni delegation to attend a public hearing by the Gambling Board. The board is currently considering two applications for the casino licence for Zone 1 - which includes Nelson Mandela Bay - when the current licence expires in October 2010.

The other party tendering is the Embo Consortium, which will make its presentation on Thursday.

Plans for the redevelopment of the Boardwalk Centre could double job opportunities from 4 386 to more than 8 300 in 2025. Proposals for the redevelopment include a five-star hotel with 135 rooms, a spa and health centre, two swimming pools (one indoor) and restaurants. If the bid succeeds the hotel will open in 2011.

- Sake24.com

For more business news in Afrikaans, go to Sake24.com.

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