GAMBLING: Vukani Highlights Potential Of LPMs
Recent Western Cape Business News
VUKANI Gaming Corporation, the LPM operators 100% owned by Cape-based investment giant HCI, recorded R31 million in gross profits and R13 million in pre-tax profits for the six months to end September last year.
Vukani, which competes in a handful of provinces including the lucrative Western Cape and Gauteng markets, certainly looks like a business that can generate pre-tax profits of close to R30 million.
While this should give encouragement to GPI in its plans to grow its LPM (limited pay-out machines) business, it is clear HCI has worked hard to eke a decent return from Vukani.
HCI CEO Johnny Copelyn reported recently that Vukani had focussed strongly on increasing its gross gaming revenue per machine. Vukani even closed underperforming sites.
Vukani now has 2 985 installed machines nationally, a figure that could jump markedly when the company’s Gauteng roll-out begins.
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