Connect with us
SIS

Africa

SportPesa Gets Clearance from KRA to Resume Operations

Niji Narayan

Published

on

SportPesa Gets Clearance from KRA to Resume Operations
Reading Time: < 1 minute

 

Kenyan sports betting firm SportPesa is planning to resume its full operations after a lengthy two-month absence prompted by the cancellation of its operational license.

“There has been notable progress in these sessions and we are pleased that KRA has now cleared us to have our license renewed. SportPesa is confident that these processes will be completed soon allowing the company to resume full operations,” the company stated.

SportPesa was among 27 betting firms that had their licenses revoked by the Betting Control and Licensing Board (BCLB) pending clearance of withholding tax on winnings.

SportPesa headed to court challenging KRA’s definition on winnings and most recently even sought compensation for money lost since the government sanctioned shutdown.

The firm would see both its bids thrown out as the courts sided by the State’s stance on the betting industry’s taxation.

SportPesa will now be required to stick to KRA’s definition of winnings which will see it trim the return on customer winnings at the rate of 20% upon its return to full operations.

Continue Reading

Africa

NSoft’s further penetration to the African iGaming markets

George Miller

Published

on

NSoft’s further penetration to the African iGaming markets
Reading Time: < 1 minute

 

African emerging market has been in NSoft’s focus for quite some time. In order to better explore possibilities that African iGaming market offers, NSoft has expanded its business operation’s team with two more dedicated sales managers settled in SAR and Nigeria.

This strategic decision resulted in a better understanding of the African market specifics and subsequently led to penetration into two new markets: Ethiopia and Burundi.

NSoft’s sportsbook, ever-popular draw-based games as well as beautifully designed virtual games have found their way to the players of three betting operators, new customers of NSoft at African iGaming market. In addition to this, two more retail-based sports betting operators from Ethiopia are in the final stage of production of NSoft’s Pre-Match and Live MTS complemented with web platform to be used for tickets’ code generation.

“It is always exciting to enter new markets, new countries. You basically have no formula for it – one has to do all research on market, trends and all define legal issues prior to any serious negotiation with potential clients. Thus, we are pleased to have additional sales forces on site that can quickly get into the matter and to respond with ease to any request of existing or potential clients,” said Ivan Rozić, SVP Global Sales & Business Development at NSoft.

To find out more about NSoft’s premium software solutions for betting and iGaming business, contact us at [email protected]

Continue Reading

Africa

MGA hosts Zimbabwean Official Delegation

Niji Narayan

Published

on

MGA hosts Zimbabwean Official Delegation
Reading Time: < 1 minute

 

The Malta Gaming Authority (MGA), gambling regulator of Malta, has received an official delegation of members of the Lotteries and Gaming Board and the Ministry of Home Affairs and Cultural Heritage of the Republic of Zimbabwe. The meeting was held at the behest of the Zimbabwean government, who are planning to regulate the gambling industry in the country. The delegation will study how the gambling industry is regulated in Malta.

The MGA delivered presentations and materials relating to the licensing and compliance processes, criminal probity assessments, utilisation of the risk-based approach, the design around the legal instruments, and anti-money laundering supervision. Discussions around these topics and exchange of best practices between both regulators ensued.

Continue Reading

Africa

South African Gambling Industry Report 2019 – Gambling Regulatory Framework is Set to Shift Markedly when the National Gambling Amendment Bill is Approved

George Miller

Published

on

South African Gambling Industry Report 2019 - Gambling Regulatory Framework is Set to Shift Markedly when the National Gambling Amendment Bill is Approved
Reading Time: 2 minutes

 

The “The South African Gambling Industry in South Africa 2019” report has been added to ResearchAndMarkets.com’s offering.

This report on the South African Gambling Industry includes comprehensive information on the sector and its subsectors including the lottery, casinos, limited payout machines, bingo and betting including betting on horse racing.

There are profiles of 20 companies and national and provincial gambling boards in the sector. Profiled companies include major players such as Tsogo Sun, which completed the unbundling of its hotel division and Sun International, which announced plans to increase its holding in hotel and casino resort Sibaya and is in negotiations to make an acquisition in Chile. Others include Ithuba, which manages the lottery and Phumelela Gaming and Leisure, a major player in horse racing.

The South African Gambling Industry

The fortunes of South Africa’s gambling industry were mixed during the past year. Although the casino segment continues to generate the lion’s share of total gross gambling revenue, its market share has declined markedly as bingo, betting, limited payout machines become popular.

Online gambling is increasingly taking share from on-the-ground casinos and other betting outlets. Although casinos generate higher revenues than other forms of gambling, the National Lottery attracts the highest number of players.

Regulatory Changes

The industry is heavily regulated and licensing is strictly controlled. The gambling regulatory framework is set to shift markedly when the National Gambling Amendment Bill is approved.

In its current form, the bill provides for new offences and the forfeiture of illegal winnings, revised definitions covering bingo, limited payout machines, online gambling and advertising, the restructuring of the National Gambling Board into a National Gambling Regulator and the introduction of a self-regulating body for the horse racing industry.

This and other regulatory changes such as the Liquor Amendment Bill, the proposed gambling levy and proposals in Gauteng to change casino tax may change the fortunes of some casino and betting operators.

Key Topics Covered

1. INTRODUCTION

2. DESCRIPTION OF THE INDUSTRY
2.1. Industry Value Chain
2.2. Geographic Position

3. SIZE OF THE INDUSTRY

4. STATE OF THE INDUSTRY
4.1. Local
4.1.1. Corporate Actions
4.1.2. Regulations
4.1.3. Enterprise Development and Social Economic Development
4.2. Continental
4.3. International

5. INFLUENCING FACTORS
5.1. Economic Environment
5.2. Illicit Gambling, Fraud and other Criminal Activities
5.3. Regulatory Uncertainty
5.4. Rising Operational Costs
5.5. Technology, Research and Development (R&D) and Innovation
5.6. Negative Social Consequences of Gambling
5.7. Labour
5.8. Environmental Concerns

6. COMPETITION
6.1. Barriers to Entry

7. SWOT ANALYSIS

8. OUTLOOK

9. INDUSTRY ASSOCIATIONS

10. REFERENCES
10.1. Publications
10.2. Websites

Company Profiles

  • Eastern Cape Gambling and Betting Board
  • Egoli Gaming (Pty) Ltd
  • Emerald Safari Resort (Pty) Ltd
  • Free State Gambling, Liquor and Tourism Authority
  • Gauteng Gambling Board
  • Gold Circle (Pty) Ltd
  • Ithuba Holdings (Rf) (Pty) Ltd
  • Kwazulu-Natal Gaming and Betting Board
  • Limpopo Gambling Board
  • National Gambling Board
  • Netbet (Pty) Ltd
  • North West Gambling Board
  • Northern Cape Casino Consultants Kairo (Pty) Ltd
  • Northern Cape Gambling Board
  • O L I M P (Pty) Ltd
  • Peermont Global (Pty) Ltd
  • Phumelela Gaming and Leisure Ltd
  • Sun International Ltd
  • Tsogo Sun Gaming Ltd
  • Western Cape Gambling and Racing Board

For more information about this report visit https://www.researchandmarkets.com/r/d3697p

.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.