South Africa is enjoying a sustained growth and progress amidst global economic concerns. The country is seen as the world’s next gambling frontier as its economy continues to flourish. Investments have been overflowing as South Africa spearheads the sub-Saharan economies. It aims to advances towards the higher echelon of emerging economies which are dominated by China, Russia, and India among others.
Industry experts predict that this upward and sporadic growth will transform South Africa as the next gambling frontier in the world. Investors are optimistic that the country will position itself a destination-location for tourism, which will promote gambling, entertainment, and leisure. The big idea now is how to establish licensing casinos and online gambling.
Establishing Gambling Regulations in South Africa
It’s a given fact that South Africa is an ideal location for casinos and amusement resorts. It’s not surprising that popular casino brands will be making their presence felt in the country as well. This complements South Africa in terms of being identified as a tourist destination.
The greatest challenge now is how African nations will consolidate laws and regulations that will govern the local casino industry. There is a current set of gambling rules and regulations but gambling investors feel that it’s not relevant and applicable to present gambling operations. Other countries take more or less than 10 years before appropriate laws are implemented
“Plenty of the countries that have amended their legislation and has brought in regulatory frameworks but other haven’t. Politically, they are struggling to get the legislation amended or new legislation enforced. But definitely there’s an appetite, because of course it is revenue. So the longer you take. If you don’t legalize it, you can’t enforce rules and regulations. So there’s an appetite there.” said Dawid Muller of Gidani Ltd.
African Nations Keen on Establish Regulations
The great news is that South Africa is open to learn on how properly regulate the gambling industry. African Nations are interested in joining regional conferences and associations, which will enable them to trade insights with countries that have established gambling models.
European countries are also interested to lend a hand in terms of establishing apt gambling regulations. Tourists will be coming from that side of the world so it’s only fitting for these countries to help out in processing legislation.
“If Africa opens up, there’s going to be online gaming, their people will play in Africa. My message to them is rather assist Africa, most of these regulatory models in Europe and other parts of the country have been design and developed and tested. Let Africa share these lessons learned.” Muller said. ”
What do you think of the current gambling regulations in South Africa? Will the country achieve more economic growth once regulations are established?