Egypt – Casino operators to benefit from tourism
Egypt is a country with a history to be proud of. The country was once home to the leading minds in human civilization. The country is predominately a Muslim nation.
Currently the only people permitted to gamble on casino games in Egypt are foreigners while the only allowed gamble that it citizen can wage bet on is lottery games indeed with only small amount of sporting event. Though, the country is known to be rich in cultures which thus include written word, literature, mathematics and geometry and then of course, there is the wonderful architecture that is admired around the world attracts a lot of foreign nationals to the country and making it one of hot spots for tourist destination in the world.
Although, in 2019 the government announced it plans to officially open its long awaited Grand Egyptian Museum in 2020, according to the government when it finally opens, it will be the largest museum dedicated to a single civilization that has ever happened in the world, more than a decade in the making which is just standing two kilometers away from pyramids of Giza, is expected to attract around five million visitors a year. However, at present, there are over 20 bricks-mortar casinos that are available which 50% tax of they earnings are been charged by the government.
Although, as stated earlier one of the challenges about casinos in Egypt is the rigorous legislation, according to the law, this brings the question as to why the government has such a tight grip on gaming if it brings financial gains, elsewhere its claimed that tourist casinos brings in some $60 billion USD per annum with that in mind an the anticipation surrounding the expected museum which is set to lunch in 2020.
According to local publication outlets it is expected that casino game revenue to surpass the 60 billion dollar mark the previous year.
Article by Adeleye Awakan
Associate/Editor www.gbc.ng Africa’s digital gaming news portal. For consultant, Bookmaker’s review, Content, thoughtful leadership article: feel free to reach me at [email protected], Linkedin Adeleye Awakan.