Vukani Gaming Corporation, a wholly owned subsidiary of Niveus Investments Limited, a company listed on the Johannesburg Stock Exchange, has today announced that its Northern Cape subsidiary, Vukani Gaming Northern Cape (Pty) Ltd, has been awarded a further route operator licence authorising the operation of 500 Limited Payout Machines in the province commencing on 1 July 2014. Limited payout machines are slot machines located outside casinos in respect of which limited stakes and prizes are prescribed, and are typically found in pubs, clubs and other places of entertainment aimed at persons of or above the age of eighteen years.
“I am extremely excited by the business potential in the Northern Cape that comes with the award of this license,” said Mr Bandile Mogiba, Chief Executive Officer of Vukani Gaming Corporation. “Vukani’s track record as route operator in 8 other provinces in South Africa demonstrates its suitability for licensing and its capacity to manage and operate a licensed route operation successfully.” Through its subsidiaries, Vukani Gaming Corporation holds licences in all the provinces where Limited Payout Machines are authorised to be rolled out and currently operates more than 8000 of these machines across South Africa.
The award of this license will also have a positive impact on the economy of the Northern Cape and will result in a massive capital injection into the Province. “It also provides a great boost to Broad-based Black Economic Empowerment in the Province and will stimulate the promotion of Small, Medium and Micro enterprises in the region. Over and above this, a significant number of both direct and indirect jobs will be maintained in the process,” he said.
Mr Mogiba also indicated that a percentage of revenue generated by play on the machines will be spent on corporate social investment projects in the Northern Cape, which will include assistance with education and training projects, and the award of bursaries to deserving candidates. Contributions will also be made to the National Responsible Gambling Programme, which actively promotes responsible gambling in the country.
Date: 1 August 2014
For enquiries, contact Bandile Mogiba at: 082 854-6024