R881 875 to the provincial fiscus from six bingo halls

OCTOBER 24, 2014

Taxation paid on the activities of the six Bingo halls in the Eastern Cape, two of which are in Nelson Mandela Bay, totalled R881 875 last month which represented 5.86% of all gambling and betting tax collected.

Figures released by the Eastern Cape Gambling and Betting Board show that this is the highest amount so far this year and brings the contribution of Bingo halls to the provincial fiscus over the first six months of the current financial year to just over R4 million.

Total gambling and betting tax in September amounted to R11.1 million, of which R7.7 million came from the Eastern Cape’s four casinos, just un-der R2 million from Route and Site operations and R592 914.00 from horseracing.

The Board has conducted public hearings on a further nine applications to operate Bingo Halls.

The National Assembly’s Trade and Industry Committee, however, has called for a moratorium on the issuing of any further licences for Electronic Bingo Terminals until overarching regulations for this form of gambling have been put in place, as it contends that the machines are too similar to other gambling machines.

The popularity of Bingo Halls is evident from the fact that in the first six months of the current financial year turnover at the six establishments in the Eastern Cape has risen from R134.6 million to R195.8 million.

over the same six-month period, turnover from horseracing in the province hovered between R22.2 and R26.2 million. - metrominutes


IMAGE sourced from www.stateside-bingo.co.uk