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Africa

Chandler to tap Kenyan market

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Chandler to tap Kenyan marketReading Time: 1 minute

Victor Chandler (67), the veteran gambling entrepreneur who founded BetVictor, is setting his eyes on the Kenyan market. His African betting business wing BetLion is targeting Kenya and Tanzania for potential expansion.

The company is already working on online betting project with FSBTech in Uganda.

Kenya and Tanzania are the next targets. BetLion will face strong competition in the Kenya market. There are 36 licensed operators are currently active in the country.

Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) 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.

Africa

Authorities destroy illegal gambling machines in South Africa

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The Limpopo Gambling Board in South Africa has seized and destroyed 100 illegal gambling machines from local shops.

Chairman of the board Elijah Tjiane said: “The serious crimes we’re witnessing in the country start with illegal machines operating in local shops. They then go to drugs and later graduate to other heavy crimes.”

Tjiane said the R500 fine illegal gambling operaters got was too little.

“We wish lawmakers could come up with a fine that will fit the crime the person has committed.”

Limpopo Economic Development MEC Seaparo Sekoati said illegal gambling was crippling businesses which operated by the book.

He said destroying the illegal machines would assist in reducing crime in the province.

“The work done by the board’s law enforcement unit, working closely with police in tackling illegal and harmful economic activities, is outstanding. Our law enforcement officers confiscated 101 gambling machines which were collected from various spaza shops in and around our communities.

“Illegal gambling outlets have a negative impact on our economy.

“Such unregistered and underground operations do not adhere to the tax legislation of the country,” said Sekoati.

Source: Latest News on European Gaming Media Network

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Africa

South Africa accepts new gambling bill

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South Africa accepts new gambling billReading Time: 1 minute

South African Parliament’s Portfolio Committee on Trade and Industry has adopted the redrafted National Gambling Amendment Bill.

Joanmariae Fubbs, the chairperson of the Committee, said although the Department of Trade and Industry had introduced a comprehensive Bill, the committee had resolved to deal with three technical issues only to address existing governance challenges speedily. The three issues are the following: the reconfiguration of the National Gambling Board to the National Gambling Regulator; addressing governance challenges relating to the National Gambling Policy Council; and broadening the National Central Electronic Monitoring System.

She added that other important issues, such as horse racing, dog racing, electronic bingo terminals, betting on lottery results and online gaming, have been considered and is being referred for consideration in the Sixth Parliament. There was not enough time to address and study all the issues. Therefore, the committee is of the view that these amendments, adopted today, will pave the way for more comprehensive and holistic amendments to the gambling regulatory framework, said Ms Fubbs.

Source: Latest News on European Gaming Media Network

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Africa

SportPesa rejects IPO rumours

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SportPesa rejects IPO rumoursReading Time: 1 minute

SportPesa, an Africa-based online betting platform, has denied the news that it is going to issue an initial public offering (IPO). Bloomberg, among others, had reported the news.

Ronald Karauri, the company’s chief executive officer, has revealed the company does not have any intentions to issue an IPO.

Mr. Karauri was recently asked by news agency Reuters whether the company was planning an IPO. He answered curtly: “No” he just answered a reporter’s question.

However, Reuters reported that a market source informed about discussion between SportPesa and Nairobi-based Kestrel Capital. The Bloomberg report that created the rumours also suggested that SportPesa had appointed Kestrel Capital East Africa Ltd to advise on the IPO process that would have it listed its shares on the Nairobi Securities Exchange sometime in the first quarter of 2019.

Beside the bare “no” from the company’s CEO, SportPesa issued a statement saying that it is “constantly exploring opportunities that will create value for our stakeholders” and advanced that it will inform about any decisions “when appropriate.”

Source: Latest News on European Gaming Media Network

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