Many new and/or international companies are unable to enter the South African Gambling Market due to the strict demands from regulators in relation to BBBEE compliance, which Multinational companies in particular experience as a major challenge.

The NGB (National Gambling Board) is spearheading the process of ensuring that the entire industry achieves at least a level 2 BBBEE status in terms of the Department of Trade and Industry’s Code of Good Practice. Currently the average BBBEE industry level is 6 – 4

BBBEE Challenges in the Gambling Industry:

  • The gambling industry is no exception to compliance with Broad-Based Black Economic Empowerment (BBBEE) as outlined by government. As a result, BBBEE targets were set for the industry by the regulators and is strictly monitored and implemented,
  • With this, South Africa has entered a new phase in transforming the ownership of companies,
  • Companies are realizing that to be relevant in South Africa today they need to partner with value-adding Black shareholders,
  • This realization is driven strongly by:
    • Companies Increasingly looking for black partners with real business experience and industry expertise to help them be more relevant in South Africa through maintaining existing and growing new markets whilst driving transformation,
    • Keeping up with licensing requirements in order to enter and remain compliant in the South African Market for the sales and distribution of gaming products,
    • Maintaining ones existing license as Regulators are becoming more aggressive in the enforcement of licensees BBBEE compliance,
    • Administrative demands related to maintaining, achieving and improving ones BBBEE status,
    • Constant worry of maintaining or improving ones current BBBEE status and trying to keep up with your competitors.

Legends Management Solutions is a Solution to your BBBEE ownership and BBBEE management control problem – as your trusted partner of choice, we take away all the hassles of Compliance in relation to the different pillars of your business and avert your worries about the hassles of maintaining your license with the regulators – we can do it all for you! We can even distribute your product and bring it to the market for you. Partnering with LMS and utilising our services allows you to focus on your core business. Because each business is different and has different visions, missions, values and corporate cultures our BBBEE and CSI solutions are tailor made to you needs and requirements.