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February 7 - The South African casino industry has enjoyed spectacular growth in the last decade. According to statistics put out by the Casino Association of South Africa (CASA), gross gaming revenue in 2001-2002 stood at R6.22 billion, whereas 2007-2008 figures showed revenue of R15.681 billion.
However, CASA also believes that the honeymoon period is now over as South Africans limit the cash they spend on entertainment in order to deal with the recession.
Gambling revenue figures have leveled off in the past year, especially in Gauteng where this trend was especially evident.
"As in all sectors, casino came under increased pressure in the past few months due to the economic turmoil," said the chairman of CASA, Derek Auret. "Gaming is essentially a form of entertainment and will be affected when people start tightening their belts."
CASA also expects major mergers and consolidations in the coming years, with the implementation of the National Gambling Act. This is due to the fact that the act makes provision for only 40 gambling licenses within the country and 37 of them have already been issued.
"There is bound to be some sort of cannibalization in the next year or so and it is possible that the five main players will become four," commented one industry analyst.
Many of South Africa's listed casinos are due to publish their figures in the coming weeks, and it is believed that all of them will show a significant leveling off of casino business.
Read our reviews of the top SA casinos.
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