Ricochet News

Bingo Halls Continue to Boost Provincial Tax Revenue

JANUARY 7, 2015
Bingo Halls Continue to Boost Provincial Tax Revenue

The six licensed Bingo halls in the Eastern Cape continued to contribute healthily to tax revenue from gaming and betting in November.

Figures published by the Eastern Cape Gambling and Betting Board (ECGBB) show that Bingo halls contributed R1.26 million in November, bringing the total tax paid in the first eight months of the current financial year to just over R6.2 million.

Two of the licensed halls are in Nelson Mandela Bay and two in Buffalo City, with the others in Mthatha and Jeffrey’s Bay.

Turnover at the six halls has increased from R134.6 million in April last year to R254.2 million in November.

The Board has held public hearings ahead of the issuing of a further nine Bingo licenses in the Eastern Cape, but the finalisation of this process could be delayed as a result of concerns raised by the National Assembly’s Trade and Industry Portfolio Committee.

The committee wants the process of issuing licenses by all nine provinces halted until overarching national legislation is in place.

The committee said that it believed that “the look, feel and sound of electric Bingo terminals (EBT)s) should not be similar to slot machines” as “this may be misleading to punters”.

The committee recommended that Trade and Industry Minister Rob Davies should consider clarifying the definition of Bingo” within the national legislation and amending it.

The aim of this, it said, would be to ensure that EBTs “retained a look, feel and sound that did not directly compete with slot machines”.

Further, the committee be a limit on the total number of licenses and seats or “gaming positions” per Bingo hall license.

Total tax paid to the provincial fiscus from gaming and betting in the Eastern Cape in November totalled R6.2 million of which R2.4 million came from casinos; just over R2 million from Route and Site operations. Horseracing contributed R625 454.00. - MetroMinutes


Photo courtesy of www.wealthladder.co.za