It contributed positively to the national economy

Gambling industry hits us$ 291 million in Tanzania

2012-06-13
Reading time 1:31 min
(Tanzania).- Tanzania's Gaming Board (GBT) has said that gamblers' financial transactions have hit to over us$ 291 million per year as the traders net huge profits. This is equivalent to 20% increase of money plunged in the gambling industry since last year.

The announcement was made by the gaming board in Dar es Salaam last week, during the 9th annual Gaming Board Regulators Africa forum (GRAF).

The GBT's Chief Executive Officer, Abbas Tarimba told East African Business Week that the gambling industry contributed positively to the national economy, a move which would clear the industry from bad gaming elements. "In 2011, the gambling industry contributed over us$ 10 million direct to the government in taxes," Tarimba said.

Concerning deceitful traders, who have been using illegal machines, Tarimba stressed the importance of collaboration between gaming regulators and other government agencies to restrain importation of illegal gambling machines.

He said if the Police and Immigration officers, Revenue Authorities and Bureau of Standards join forces with gaming watchdog, the illegal machine would never have any chance to penetrate the local market. "We are aware concerning the existence of illegal gambling machines which had been imported in the country by the deceitful traders," he said and added, "This is unfair game, they should stop using these machines immediately."

Speaking during the forum, the GBT's Chairperson, William Mdundo, said it aimed at providing gaming regulators across Africa, with the opportunity to exchange knowledge, share experience and ways of regulating better and with advanced technologies. He said, the progress will enhance the recognition of the gaming industry in Tanzania and thus enhance the potential of the industry in contributing towards the social-economic development of the people.

The Permanent Secretary in the Ministry of Trade and Industry, Ms Joyce Mapunjo, said the social-economic significance of the gaming industry in an individual jurisdiction is increasing over time.

Mapunjo said the industry has continued to contribute significantly towards social-economic development of the people by way of government taxes, provision of employment, contribution to good causes, entertainment and technology transfer.

Nevertheless, she added in order for the gaming industry to contribute even more meaningfully to the well being of the societies, it is necessary to design, implement and maintain proper enabling regulatory environment.

The leading contributors in the gambling industry include cassinos, SMS Lotteries, Sport Betting and Slot Machines.

Related topics:
Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Terms of use and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR