SA lauds benefits of gambling
Durban - The gambling industry contributes significantly to job creation and economic development, the Trade and Industry Deputy Minister Elizabeth Thabethe said on Monday.
She was addressing delegates to the 6th Biennial South African Gambling Conference.
More than R16bn had been invested in gambling and related activities such as casinos, hotels, horse-racing activities, she said.
"To date an estimated R100m has been invested in corporate social investments."
The Limpopo Gambling Board had awarded the Peermont Global Group a casino licence in the Sekhukhune area.
"An investment of approximately R230m has been made with more than 400 indirect jobs created and 180 direct jobs created," Thabethe said.
Sun International would spend R1bn on the Boardwalk Casino in Port Elizabeth on or before 2012 and create more than 500 direct jobs, she said.
"More than R4bn in taxes have been collected and gross gaming revenue has increased by 2% to more than R16bn by 2010."
The South African gambling industry's gross revenue for 2010 increased by 2% to R16.268bn from the previous year's R15.921bn.
"During the same year, the industry contributed R4bn in taxes to the government," Thabethe said.
We should have allowed internet gambling, in fact, we should have made SA a tax haven to overseas online gambling firms like Gibraltar, Malta, Antigua and Barbuda, Netherlands Antilles, etc. They make billions in income each year from online gambling. And rich nations have money to spend online. They will spend it anyway - why not here in South Africa?
Probably the bribe figure wasn't right when those kind of deals were discussed, but give it a chance, anything can happen. Next year the law can be "adjusted" again.
The same could be said for crime, I mean its quite likely that a significant fraction of those said to be formally unemployed are actually actively employed in crime, and although they don't pay income tax, they do pay VAT, and furthermore they stimulate the insurance, motor vehicle and consumer goods industries. spin... spin...
Gambling is fine,BUT,the gambling industry produces nothing and it adds no value to anything exept the pockets of the gambling bosses and goverment.As an industry it cannot be self sufficient.It is a make believe kind of business,for some.
The Gambling "industry" produces nothing of any storable, saleable, edible, wearable or durable value.
Having gambling licences to grant no doubt generates enormous kickbacks to the regime or the individuals doing the granting. Not just in SA, but all over the world.
The 16bn should rather have been spent on education, housing, clinics, etc., instead of being wasted on tacky psuedo Tuscan or Roman energy-sapping palaces for the bored, mulletted and blue-rinsed population.
only ... R4Billion ... in taxes , in all these years ????????????