Ricochet News

Bingo’s Contribute R1 Million To Eastern Cape Fiscus

NOVEMBER 26, 2014
Bingo’s Contribute R1 Million To Eastern Cape Fiscus

The contribution of tax payable on the operations of Bingo halls in the Eastern Cape exceeded R1 million in October reaching R1.037 million, according to figures released by the Eastern Cape Gambling and Betting Board.

Total tax payable on all gambling in October was R11.126 million, of which R7.298 million came from the province’s four casinos; R689 931.00 from horseracing and R2.104 million from Route and Site operations.

Tax payable on the activities of the six licensed Bingo halls has more than doubled over the last seven months from R508 402.00 in May. Tax payable in March last year, the first month of operations was just R24 969.00.

Two of the licensed establishments are in Port Elizabeth, two in East London and one each in Jeffrey’s Bay and Mthatha. The Board has held public hearings ahead of the issuing of a further six licenses.

Gross turnover from gambling operations in the Eastern Cape in October totalled R1.961 billion, of which R1.400 million came from slot machines; R50 .9 million from tables and R237.8 million from Route and Site operations.

Gross Turnover at the six Bingo halls has increased from R134.6 million to R248.27 million in October. Over the same period gross turnover from horseracing has comparatively increased only marginally from R22.2 million to R27.5 million.

Gross Gaming Revenue (GGR) from all gambling activities totalled R138.1 mil-lion in October, of which R80.9 million came from slots; R10.2 million from tables and R21.0 million from Route and Site Operations.

GGR for Bingo halls was R10.4 million, double the amount recorded in April. -MetroMinutes