20 Power Hot

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The bill would require most licence holders to link gambling machines and devices installed on their premises to the Gambling Authority’s statutory monitoring system. Casino and bingo licence holders would be required to install their own monitoring systems instead.

The bill would increase the maximum sanction for contravening Section 87(1) to a P100,000 fine, imprisonment for up to five years, or both.

It would also require the Gambling Authority to give a licensee an opportunity to be heard before suspending, revoking or refusing to renew a licence.

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The company is placing an increased focus on efficiency and margins, with plans for a “lower-cost, more centralised operating model” with the profitability of Sun International’s underperforming assets in mind.

A formal consultation process relating to Section 189A of South Africa’s Labour Relations Act has commenced. THis governs large-scale retrenchments by companies with over 50 employees.

“In addition, we have started consultations in certain head office functions as we roll out productivity initiatives across the group,” Sun International said.

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The operational infrastructure available to these new firms, however, remains underdeveloped. Gonzalez contrasts prediction markets with equities, where trading businesses can use prime brokers, clearinghouses and standardised systems such as FIX.

“When it comes to prediction markets, none of that exists,” he said. “Everyone that’s building in the prediction market space mostly starts from ground zero.”

Platforms were generally constructed for one person operating one account, rather than trading organisations requiring separate permissions and controls. According to Gonzalez, some teams still share a single login.