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South African Province Awards Gambling Licenses

26 March 2004

SOUTH AFRICA – As reported by the Johannesburg Business Day: "The Western Cape Gambling and Racing Board has awarded two groups licences to operate 2000 slot machines in the province's potential R140ma-year (US$24 million) non casino industry, the most lucrative in SA.

"The board's decision to award the limited-pay out 'route operator licences' brings an end to the illegal gaming industry in the province. This will create a highly regulated industry that is expected to draw about R15m a year in taxes for the province.

"The new licence holders are Vukani Gambling Western Cape whose majority shareholder is Johannesburg Securities Exchange-listed Hosken Consolidated Investment , headed by former trade unionist Marcel Golding and Thuo Gaming Western Cape, which has ties to Australian gaming operation Tattersalls and Grand Parade Investments. Both consortiums have significant black empowerment credentials…"

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