Abuja - Revenues from the the gambling will reduce in the next two years as a result of a slowing in the economic growth rate and the adverse impact on tourism due to the Ebola outbreak.
This is the forecast of PwC, the global advisory firm in its just-released report, titled, "Raising the stakes in Africa: Gambling outlook 2014-2018 (South Africa – Nigeria – Kenya)."
“We expect slower economic growth to lead to slower gross casino gambling revenues in Nigeria and Kenya and continued slow growth over the next two years. We then look for a pick-up in growth in each country as economic conditions improve,” said Nikki Forster, PwC Hospitality and Gambling Industry Leader.
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Currently there are three licensed casinos in Nigeria. Most forms of gambling are illegal, other than skill-based card games, backgammon, and the national online lottery.
Casino gross gambling revenues have grown at double-digit rates during the past three years, including a 19.4 percent increase in 2013.
Of the three countries included in the analysis, South Africa has the largest overall gambling market as well as the largest land-based casino gambling market.
Gross land-based casino gambling revenues totalled R16.5 billion in South Africa in 2013 compared with only R428 million in Nigeria and R195 million in Kenya.
- CAJ News