Search:  
Western Cape Business News
1005
VIEWS

Send  Share  RSS  Twitter  28 Jan 2010

GAMBLING: Casino Industry Adds R143b to GDP

 



Recent Western Cape Business News

Casinos have added R143 billion to the country’s GDP since gambling was legalised in 1996. This is according to results from the casino industry’s 2009 survey released by the Casino Association of South Africa [CASA] in Cape Town yesterday.

The GDP contribution during the 2008/9 financial year was over R20-billion.

The survey shows government as the industry’s major beneficiary, receiving approximately 37% of value-add, or R4.1 billion in revenue. 

According to the economic impact study, which forms part of the survey, 28% of turnover was spent on goods and services, of which over 40% favoured BEE companies.

The information used in the survey was drawn from statistics published by the national and provincial gambling boards, casino companies themselves and independent studies produced by industry related bodies such as the National Responsible Gambling Programme [NRGP].

During the period under review casinos contributed more than R60 million in corporate social investment [CSI] activities, while the cumulative contribution since 1996 has amounted to some R286-million.

Since the casino construction era of the 1990s, the industry’s total capital expenditure has totalled a staggering R18.8 billion.  If this amount were to be adjusted to today’s value, taking inflation into account, then this spending would be the equivalent of five Green Point soccer stadiums

The industry has spawned close to 48 000 industry-related jobs and, together with indirect jobs, the figure is nearly 90 000.

CASA Chairman and CEO of Sun International David Coutts-Trotter said “the data collected by the survey strengthens CASA’s conviction that over the past thirteen years, South Africa’s casino industry has become a significant player in the country’s provincial economies, the growth of national tourism business and the expansion of safe and trustworthy recreational opportunities.”

Derek Auret, CEO of CASA said “it is of course in tourism, both domestic and foreign, that the impact of the industry has been most marked.  While it cannot be argued that many tourists come to South Africa with the specific objective of gambling, the non-gambling facilities associated with the casino developments have greatly expanded the range of tourism infrastructure, thus enhancing South Africa’s status as a destination."


 
 
 
lighting-and-design-cape-townlivingstone-tourism-academyengineering-cape-townBusiness Profilesfreight-and-shipping-services-western-cape
 
   
 
 
 
  Accomodation
Accommodation


Online Foreign Exchange
Foreign Exchange


Directory
Directory


Fax
Fax 2 Email


Finance
Finance


Furniture
Furniture


Casino
Online Casino


Restaurant
Restaurant


Auctions
Shop Online


Study IT
Study IT Online


Web design
Web Design


Weddings
Weddings


Work
Work from Home
 
 
 
 
 
Company News
 
 

 

© 2019 www.wcbn.co.za. All rights reserved.

Daily Newsletter Subscription

 

Subscribe to the Western Cape Business News Daily News and information email (it's free).

Thank You
Your email address has been added.

Name:
Email Address: