In a recent keynote speech delivered by Larocure's General Manager Nkopane Tshehla, he focused on the localization of land-based casinos in Africa and the challenges they face in an evolving environment. Tshehla first highlighted the importance of Africa's young population, noting that the median age in Africa is 19, largely due to decades of investment in human capital.
Cheshire emphasized the importance of investing in youth to drive economic liberation and cultural transformation. South African President Ramaphosa also endorsed this view, highlighting the importance of localization in stimulating growth and transformation, creating a conducive environment for inclusive growth.
He believes that, similar to the growth of the gambling industry in the West, it will also thrive across the African continent, becoming a multi-billion dollar industry.
He then shifted focus to land-based casinos, delving into the history of casinos, tracing it back to a casino in Venice in 1638. Over the centuries, this concept has evolved into what we now recognize as a real casino. However, he noted that traditional land-based casinos face challenges in the modern era.
He identified challenges such as reduced foot traffic, economic downturns, online gambling, government taxation, slow technological advancements, and regulatory spaces, and proposed strategies to sustain the casino industry. These include investing in R&D for the future, localizing gambling technology, fostering local identities in technology, and integrating corporate social investment into R&D plans.
Tshehla cited the 716,000 registered game developers on the African continent, highlighting the potential of Africa's young population. He suggested collaborating and investing with local talent to develop games and hardware tailored to various national contexts. The goal is to create a prototype cabinet that organically evolves over time, similar to the development of casino slot machines.
The proposal also includes localizing the casino space, urging African developers to create their own gambling counters. Tshehla emphasized the economic impact and proposed that giving African developers a chance would lead to the development of hardware that aligns with local cultures.
Furthermore, Tshehla encouraged integrating corporate social investment into marketing activities as part of business development to maintain the ongoing development of the business. He believes that investing in local games and trading tools will help maintain the social hub status of land-based casinos, despite the rise of online gambling.
