Gambling revenue expected to rise | Fin24
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Gambling revenue expected to rise

Apr 24 2015 14:20

Polokwane - South Africa’s gambling revenue is expected to increase over the next three years after the opening of a new casino by Peermont Hotels, Casinos and Resorts in Limpopo.

The R320m investment saw the Thaba Moshate Hotel, Casino and Convention Resort rising on the foot of the Moroni mountains in Burgersfort, Sekhukhune and is aimed at attracting domestic and foreign high rollers.

Peermont CEO Anthony Puttergill said Burgersfort is an ideal place to invest due to its growing appetite for entertainment and economic development.

Puttergill said Peermont chose to invest in the area because of its economic importance and its huge potential to grow over time. "It is also an area in desperate need of a new hospitality convention and entertainment facility,” he said during the official opening on Thursday evening.

Puttergill said the investment would also drive enterprise development and job creation within the Greater Tubatse region.

Thaba Moshate features an 82-room, three-star select services, modern Peermont Metcourt Hotel offering, with comfortable and affordable accommodation options for tourists.

“The construction of Thaba Moshate has been immediately beneficial to the people of the greater Tubatse region and in time we expect it will also deliver the expected returns to Peermont,” said Puttergill.

The resort has also contributed greatly to job creation and provides real economic benefits to the region, he said.

South Africa has not had a new casino since 2007.

The Limpopo Gambling Board earlier said gambling contributed R34m to government revenue over the last three years, which is anticipated to increase by 20% when Thaba Moshate becomes operational.

There are also further mining investments by Chinese in the region, with other multinational companies also showing interest to invest.

The government said the investment in the region boosts and complements Burgersfort, one of three towns clustered in the province's special economic zone.

“Tubatse (Burgersfort) is one of the identified growth points in our economy in this province - the special economic zone identified Musina, and Tubatse.”

Limpopo premier Stanley Mathabatha said plans are under way to link the Musina and Tubatse rail network to enable trade between South Africa through its Gateway to Africa border Musina.

limpopo  |  casino  |  gambling


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