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South Africans on gambling spree

Nov 14 2012 11:45
Johannesburg - South Africans spent R257.6bn on gambling in 2011, according to a report by PricewaterhouseCoopers (PwC).

This equated to more than R8 000 per adult, said Nikki Forster, PwC Gaming Industry leader for South Africa.

Overall turnover for all types of gambling rose by 10.6% in 2011 from 8% in 2010.

PwC said turnover was projected to increase at a 6.3% compound annual rate during the next five years to R349.6bn in 2016.

Casino gaming revenue climbed steadily in 2011 and recorded its largest gain since 2007. It recorded a 7.3% increase in 2011, up from 6.3% in 2010.

Forster said casino gaming accounted for 81% of the gross gaming revenue in South Africa.

Sports betting made up 12% of the gross gaming revenue, with horse racing determined as the dominant component of the market.

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