GPI Slots to buy Bohwa 1 Gaming shares and operations - CNBC Africa

GPI Slots to buy Bohwa 1 Gaming shares and operations

Southern Africa

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Bohwa 1 Gaming is the owner of Hot Slots, a licenced route operator in Gauteng that currently operates 1,000 limited pay-out machines (LPMs).

 “The LPM is a specific market that deals with slots in pubs, or slots in sporting venues, so it’s five slots per venue, and to the extent that we’ve also been able to achieve 40 slots in specific venues in Gauteng,” Grand Parade Investments chairman and founder Hassen Adams told CNBC Africa on Monday.

“ It’s a limited pay-out machine which means that you are only allowed to have a maximum bid of five rand and a maximum pay-out of 500 rand, and that’s going to change very soon because legislation is being introduced to increase that to a maximum bet of 30 rand and a maximum pay-out of 3000 rand. That has not been put through government yet but it’s in the process of being promulgated.”

The limited pay machine will prevent gamers from betting on entire salaries or earnings into the machine and results will be the same as all other gaming slot machines.

In the gaming industry, however, only 7,500 licences have so far been given in a market of a potential 50,000 licences.

“The process is quite onerous. Because these are small businesses and this gives rise to better entrepreneurial opportunities, the government insists that they have to comply with strict rules and regulations, which means that they have to be tax compliant, business licence complaint and we, as the operators, are forced to make quite sure that that happens,” Adams explained.

In Cape Town, GPI Slots have managed to roll out 1,000 machine licences and there have been significant improvements in Gauteng and Kwazulu-Natal in terms of the approval and smooth rollout of the machines.

GPI Slots also plans to manufacture slot machines and have signed an agreement with Europe’s biggest slot machine manufacturer and have also signed an association agreement with electronic manufacturer Tellumat and expects the first rollout of their manufactured machines by the end of this year. 

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