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News AFRICA & MIDDLE EAST GPI secures first Type B LPMs in Gauteng
Grand Parade’s transformation into a gaming operator rather than an investment body continues with the announcement of a small but important step in its bid to operate 1,000 LPM machines in Gauteng province.
unlimited SOUTH AFRICA
The Limited Payout Machine (LPM) operating subsidiary of Grand Parade Investments, Grand Gaming,
has
announced it will install up to 40 Type B machines at the Royal Park Hotel in Johannes- burg’s Joubert Park. “We are delighted to be
the first LPM operator in Gauteng to receive a Type B licence,” said GPI executive chairman Hassen Adams. “This will allow us to acceler- ate our roll-out of machines
in the province to reach our stated goal of acquiring a similar market leadership in Gauteng as we have enjoyed in the Western Cape and KwaZulu Natal for some time.”
The company’s other sub-
sidiaries Grandslots and King- domslots together operate more than 1,500 LPMs in these respective markets. The company aims to
operate its licensed maximum of 1,000 machines in Gauteng - South Africa’s most populous province. Grand Gaming currently
operates 164 LPMs there, so the new machines will bring it to just over a fifth of its target.
acquired Playmeter Leisure Services in June, a deal that included the 1,000-machine licence. Five companies are operating the approximately 1,000 machines currently installed.
GPI has plans to increase
its network of LPMs to around 5,000 in the medium term. In addition to the new jobs
created as a result of invest- ment in its new sites, it will contribute 0.1 per cent of
Grand Gaming
gross gaming revenue to the National Responsible Gaming Programme and five per cent of its pre-tax profits to a corporate social invest- ment programme.
“GPI is committed to the
responsible and efficient management of a quality network of limited payout machines in Gauteng,” said Adams. “This means operat- ing a business which is able to advance the public inter- est, and those of our share- holders, by maximising the economic and social benefits for those communities in
which will we be active.” GPI recently announced
its results for the year to the end of June, in which it saw gross gaming revenues from across its operations reach R316.2m (E31m) contribut- ing to total revenues of R326.4m (E32m), substan- tially inflated because the acquisitions. Grandslots in Western Cape saw in increase in revenue of 11.9 per cent to R213.6m (E51.9m). There are only two licensed operators in the province and Grand- slots accounts for over 53 per
cent of the market there. The province as a whole saw LPM revenues up 14 per cent to R382.8m (E37.5m) of which Grandslots generated 55.8 per cent.
Kingdomslots in KwaZulu Natal achieved a revenue increase of 21.8 per cent in 2010/11 to R99.6m (E9.8m): all four operators in the province together generated R183.9m (E18m), up 22.6 per cent. Kingdomslots had a 36.4 per cent share of the market in terms of machines but 48 per cent in terms of revenues.
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LARGEST OPERATOR OF GAMING
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18 October 2011 • africa&middleeastnews
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