In its results Niveus raised an issue with the draft National Gambling Amendment Bill, which states that bingo machines must not “look and feel” like slot machines, which the company thinks may hurt its bingo business. Niveus is also complaining about the draft Liquor Amendment Bill, which it says could hinder Vukani (its 100%-owned gaming asset that specialises in limited-payout machines outside of casinos). Overall, it claims that the government is trying to reduce gambling outside casinos, the area in which Niveus operates. In truth, it is hard to tell whether its claims against government have any truth to them or whether they are just attempts to get its way. But either way, gambling is a highly regulated industry that has pros and cons. Pros are barriers to entry for newcomers and even incumbents expanding. A con is government regulation, which will often hurt growth and profit prospects. The bottom line is that this is another sector I simply avoid.