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Quanta Acquires Stake in Nigeria Lottery ILGL The World’s First Deal to Reform Traditional Lottery

George Miller

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Quanta Acquires Stake in Nigeria Lottery ILGL The World’s First Deal to Reform Traditional Lottery
Reading Time: 3 minutes

 

Quanta has signed contracts to acquire a stake in International Lottery and Gaming Limited (ILGL), and concluded the world’s first deal to see a blockchain company acquire a traditional lottery company.

The acquisition will usher in an era where innovation sits alongside tradition, injecting the power of blockchain technology into the lottery business. Quanta sees this ambitious move as an opportunity to reinforce and extend its efforts to promote blockchain starting with Nigeria where ILGL is rooted, and very soon afterwards expand to other countries in Africa.

ILGL, trade-named NaijaLottery™ has been granted a Grade A National License from the National Lottery Regulatory Commission to offer lottery games throughout the country. This deal will see Quanta and ILGL combining their forces and introducing the application of blockchain technology to revitalize traditional lottery and to act as a platform for growth in Africa.

“Now is the time to build on the momentum of the traditional Nigerian lottery market. Together, we will continue to build a safe and trusted platform that ensures fairness and transparency, while offering amazing functionality to players and helping to boost the local economy.

“We believe we are carving out a bright future for the players and to the industry as a whole.” said Kostas Farris, Group CTO of Quanta.

“This is a profound opportunity to bolster the rapidly-evolving lottery business. We are confident that we can make blockchain lottery popular and this acquisition represents a significant base for Quanta to target other emerging markets centered in Africa.

“We aim to build up a blockchain-based ecosystem that will serve the gaming industry whilst stimulating the growth of the local economy through generating new businesses and employment opportunities.” Kostas added.

Commenting on behalf of ILGL, Charbel Saadeh, Managing Director of Naija Lottery said, “ILGL has provided popular and entertaining games to the Nigerian players; it is highly respected in the gaming industry and we are very excited to collaborate with Quanta. The acquisition is a historic announcement. This is a combination of expertise—the integration of blockchain lottery with local operation, to create an even more compelling experience to optimize lottery playing for the 200-million Nigerian market.”

NaijaLottery™ launched operations on 7 March, 2016 by offering the popular 5 out of 90 game as well as the highly exciting instant game 1 of 36, both games aim to offer fun and excitement to all its Nigerian players. Quanta witnessed ILGL’s highly established position in the Nigerian lottery market, and is looking to progressively build a platform fully enhanced with advanced technology to accelerate market access with the joint efforts of Quanta and ILGL, paving the next step in the company’s evolution to unleash the great potentials of the blockchain technology.

The Nigeria lottery industry has undergone strong growth in recent years and is considered as one of the most lucrative business opportunities in the world. It is a major source of wealth distribution in the country, while the role of cryptocurrencies continues to garner national-level attention.

 

About Quanta

Quanta PLC is an innovative blockchain-oriented company, that utilizes smart contracts in order to ensure fully automated and transparent platform to Lotteries.

Quanta PLC owns Quanta Technology Limited the operator of the world’s first licensed, blockchain-based gaming company on the Ethereum platform. Its products, including gaming platform, random number generator, token-centric payment gateway and game wallet are blockchain powered and certified to ensure utmost trust and transparency in the gaming industry. The company employs Smart Contracts to offer full automation and integrity to lotteries.

With the support of QNTU the utility token, Quanta leverages services to strengthen customers engagement. QNTU is currently trading on five renowned cryptocurrency exchanges such as Lykke, HitBTC, Bit-Z, Cryptopia and BitoPro.

About International Lottery and Gaming Limited

International Lottery and Gaming Limited (ILGL) is a privately-owned company established in Nigeria, which has been granted a Grade A National License from the National Lottery Regulatory Commission to offer lottery games throughout the country. NaijaLottery™ launched operations on 7 March, 2016 by offering the well-known 5 out of 90 game as well as the additional and highly exciting instant game, 1 of 36, which is aim to offer fun and excitement to all its Nigerian players.

For more information: http://naijalottery.com/en/home

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Africa

BtoBet Underlines East African Opportunities

George Miller

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BtoBet Underlines East African Opportunities
Reading Time: 2 minutes

 

As BtoBet prepares to fly to Uganda to attend the Sports Betting East Africa event, the leading iGaming platform provider has launched its latest Industry Report focusing on the gambling scene of the African continent, with particular focus on East Africa and Kenya.

The report – “East Africa: Leading the Continent’s iGaming Revolution” – analyses the opportunities that the Eastern African market presents to operators alike, whilst underlining the approach needed to truly reap the benefits of this emerging market. Amongst other things the report indicates the significant growth in internet and smartphone penetration that the continent has experienced in recent years and the population’s propensity to access the internet via mobile instead of the more traditional personal computer. Having also a significant portion of the population falling under the “unbanked” category, the report also analyses the advent of the “mobile money” innovation that has disrupted and revolutionized the payment approach, particularly in regards to the region’s gambling industry.

Unique aspects that as BtoBet’s CEO Alessandro Fried speaks about in his dedicated editorial, require deep local knowledge of what constitutes the right approach for operators to expand or start their business on the African continent. The Industry Report also gives insight on the White Label Partnership Program that BtoBet has launched in the past months in Africa through its regional Certfied Partner STM Gaming, and the tailored content offered to African operators keeping in mind the intricate requirements of the local market.

DOWNLOAD the latest Industry Report to get a better understanding of the necessities that drive the local market and why BtoBet’s advanced technologies are considered as the standard in the African context. Operators keen on starting or expanding their market in Africa can also book a meeting with the team of experts that will be present at the SBEA event by contacting sales@btobet.com or by calling on +356 27135974, or visit Stand 1007 at SBEA.

 

About BtoBet:
BtoBet is a multinational company and is part of a group with 20 years of experience in software development in IT, telecommunication, e-commerce and banking, strongly committed to technology and widely investing in technology research and development. The experience gained at the forefront in these advanced environments, compared with the more recent gambling industry, allows BtoBet to be visionary with a deep understanding of the requirements of the market, catching changing trends and anticipating bookmakers’ and operators’ needs. BtoBet is a true partner in technology, offering a standalone platform and services for the iGaming and Sports Betting industry. It counts on a very talented, continuously trained development team and day to day management support to clients. BtoBet allows licensees to be unique in the market, by giving them the opportunity to completely personalise their offers for Sports betting and iGaming business, online mobile and retail. Visit our site on: www.btobet.com

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Africa

Kenyan casino incorporates baizes decorated with Hungarian motifs into their gaming tables

George Miller

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Kenyan casino incorporates baizes decorated with Hungarian motifs into their gaming tables
Reading Time: 1 minute

 

The casino hired a young Hungarian man, three years ago to manage the complex and he wasted no time in adopting Hungarian culture and traditions into the interior design of the building

 

The Mombasa based casino has incorporated baizes decorated with Hungarian motifs into their gaming tables.

Gergely,  the young Hungarian had been working on a cruise ships for five years before moving to Kenya, and once he arrived in Africa he soon got to work in making a home away from home.

“8-9 years ago, while I was living at home, I couldn’t really appreciate how beautiful and rich my culture and traditions were. During the years I spent on the ship, I became more proud of my origin,” Gergely said.

Soon after they hired him, the company purchased another casino and entrusted Gergely with complete renovation, design and branding. “During this process, I came to the conclusion that it would be great to design casino baizes decorated with Hungarian traditional patterns. Thus I can introduce my culture to our guests,” he said.

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Africa

Kenya to introduce new tax regime for online gambling

Niji Narayan

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Kenya to introduce new tax regime for online gambling
Reading Time: 1 minute

 

The Kenyan government has announced that it is going to implement a new tax regime, especially for online and mobile gambling.

The Kenya Revenue Authority (KRA) has said that the new taxes will come into force in this July. The government is hoping to collect €463.2 million by the end of the year from gamblers and mobile money users. KRA commissioner-general John Njiraini hinted at a 10 per cent tax on mobile phone-based payments.

Mr. Njiraini added that the authorities have projected they’ll miss the annual tax collection target set by the Treasury by €963 million by next June 30.

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