Member of the executive council (MEC) of economic development for the Eastern Cape Mlungisi Mvoko believes gambling, in all its forms, needs to be made legal in South Africa to increase tax revenue and create jobs.
Indusry can increase tax revenue
Mvoko was addressing the 15th Gaming Regulators Africa Forum taking place at The Boardwalk Hotel in Port Elizabeth and told delegates how much of a benefit the gambling industry has been to the Eastern Province already.
“It is still our fervent belief that through the infusion of new technologies in the 4th Industrial Revolution and optimal regulation, gaming could lead to an increase in the revenue base of the province,” he said.
He likened the potential of the gambling industry to that of cryptocurrencies like Bitcoin, which have exploded in value over the last few years.
“It comes as no surprise that technology has had a remarkable impact on the gaming industry. So, if you are wondering how technology is impacting the gaming industry then you need to look no further than how a cryptocurrency like Bitcoin has revolutionalised the realm of online users.”
This year’s conference, themed “Fourth Industrial Revolution and its Impact on Gaming in Africa”, brings together representatives from countries such as Angola, Botswana, Ghana, Kenya, Malawi, Mauritius, Mozambique, Namibia, South Africa, Seychelles, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.
The conference is focussing on global economy shifts and the impact of this on the global gambling industry.
Revenue can cover for other struggling sectors
Mvoko told delegates