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Botswana Casino Board Reports Earnings

15 December 2004

BOTSWANA -- The Casino Control Board's 2004 annual report shows that local casinos earned a gross revenue of P81 million (US$ 18.76 million) last year. According to the report, the total contribution of revenue to the government amounted to P8 million which consists of 10 percent licence levies and 50 percent entrance fees, excluding other forms of corporate tax.

"There are eight licensed casinos in the country namely; Gaborone Sun Hotel, Grand Palm, Menateng at Bosele Hotel in Selebi-Phikwe, Marang Hotel in Francistown, Admiral at Thapama Hotel in Francistown, Kings at Cumberland Hotel in Lobatse, Admiral at Syringa Lodge in Selebe-Phikwe and Teemane at Mokala Lodge in Jwaneng.

"The Gaborone Sun Casino, which is the oldest and biggest, topped the bill with its earnings. The total gaming revenue for the 15-month period ending March 31, 2004 was P43 million. Revenue for the 12-month period ending December 31 2003 was P35 million, which is lower than the previous year's corresponding period by 10 percent. The report attributes this to the lower revenue earned from slots of 12 percent partially offset against higher revenue earned from the tables.

"…The report shows that the total gaming revenue for Grand Palm at the end of March, 2004, was P36 million. It further states that the Grand Palm Casino continues to maintain its second position in the current year. However, its growth in revenue has dropped from a healthy 11 percent last year. This is attributable to the current economic environment and the consequent reduction in disposable incomes of its customers..."

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