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Gambling Under Siege in South Africa

The Monte Vista casino in KwaZulu-Natal is the most recent gambling resort to be targeted by a gang of armed robbers in South Africa this week. A gang of fifteen armed robbers entered the casino without any deterrence, surrounded the group of gambling people and demanded to know where the cash desk was. Once located, the men emptied the cash desk and left the gambling resort, again with hardly any interference.

This armed robbery is the latest in a series of more than eight armed robberies which have occurred in recent months at gambling resorts around South Africa. The police are being criticized with the fact that almost nothing has been done to locate the group of robbers, believed to be working for an organized crime group, who target gambling resorts. Gambling resorts are obviously a popular target for armed robbers who know that vast amounts of cash flow throughout an evening’s session. The clear and unhindered exposure that the gang has had to the cash desks is another question of concern. The police are questioning why better security and time-delayed vaults were not employed in the casinos.

Gambling is a popular pastime in South Africa, with legalized casinos in almost every province. The gaming industry is worried that with this spate of attacks and robberies, people will stop feeling safe to go out and enjoy gambling, which would be a blow to the industry. Gambling currently produces a wealth of revenue for both the private casino owners and for the government by way of taxes.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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