Is the gaming industry recession-proof?

In the midst of an economic downturn, one industry seems to be defying the odds and flourishing – the gaming industry. John Kamara, Director of Global Gaming, sheds light on the industry's resilience and growth prospects in an exclusive interview with CNBC Africa. With most sectors experiencing a slump, the gaming industry appears to be thriving amidst the uncertainty. Kamara believes that the gaming sector is on track to witness positive growth in 2017, outperforming other sectors of the economy, as people tend to seek entertainment options during tough times. The trend in the gaming industry has evolved significantly over the past few years, shifting from a retail-centric focus to a more mobile and online-oriented approach. The influx of financial technology companies, improved payment methods, and advancements in mobile gaming technologies have propelled the industry towards a mobile-centric future. According to Kamara, successful gaming companies are expected to heavily lean on mobile platforms in the upcoming year, indicating a new era for the gaming landscape. In terms of market outlook for 2017, Kamara forecasts a 10 to 15% increase in market share, fueled by the growing popularity of mobile gaming and the enhanced payment infrastructure in the country. The director anticipates that 2017 will be a remarkable year for the gaming industry, positioning it as a key player in the economic landscape. Significant wins have already been recorded in the industry, with multimillion-dollar payouts in sports betting, lotteries, and casino games making headlines. Kamara recalls a notable win of over $100,000 in 2014, underscoring the lucrative nature of the gaming sector. Moreover, the rise of slot machines and mobile slots is expected to drive further growth and engagement within the industry. Despite the industry's upward trajectory, Kamara cites policy concerns and taxation issues as potential roadblocks in 2017. Regulatory uncertainties and public perception surrounding the gaming sector remain crucial challenges that need to be addressed for sustained growth. Looking ahead, Kamara emphasizes the industry's role in fostering economic growth and supporting other sectors, reinforcing the importance of a conducive regulatory environment. Reflecting on his relationship with CNBC Africa, Kamara commends the network for its proactive approach in covering industry trends and market developments. He suggests further amplifying coverage of emerging sectors to provide viewers with more insights into potential opportunities. As the gaming industry gears up for an exciting year ahead, CNBC Africa remains a vital platform for industry analysis and projection, serving as a beacon for investors and enthusiasts alike.