Into Africa? Betting on an untapped gambling frontier

Home to over one billion people, making it the second most populated continent, Africa is generating growing interest as one of the world’s great untapped gaming frontiers. Although casino gambling makes up the bulk of the market at present, growth in internet usage and in particular mobile, is expected to lead to a boom in online gambling. While some of the European majors have already ventured in, some experts say Asian investors may have an edge when it comes to their business approach. In a recent study, PwC analyzed the market in South Africa, Kenya and Nigeria. It found South Africa has by far the largest overall gambling market with, gross casino gambling revenues of R17.2 billion ($1.6 billion) in 2014 compared with R497 million ($46 million) in Nigeria and R218 million ($20 million) in Kenya. However, when it comes to growth, Nigeria was the best performing up 17.5 percent, compared with 4.5...

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