The draft, “The Case For a National Online Gambling Tax“, stressed that while land-based bookmakers and casinos are currently taxed between 6%-9% of winnings or gross gaming revenue by the licensing provinces, they still generate employment and other communal benefits for the citizens. The same cannot be said about online and interactive gambling despite the significant spike in its user engagement.

A recent publication from the market’s regulatory bodies showed GGR from online gambling went up 60% on data from the previous year.

According to a report from Statistics South Africa, firms providing bookmaker and online gambling services saw a massive income boost up to R152.6 billion ($8.9 billion) as of 2023, representing a 72% increase between 2018 and 2023, a figure which clearly surpassed all other activities in the sports and recreation sector.

Why this proposed tax rate is cause for concern

With online gambling being in direct competition with land-based casinos as part of the interactive gambling industry in most countries, tax rates should be aligned to ensure fairness, the draft stipulated.

And as up to 11 other jurisdictions are already charging a 20% tax on GGR, with a further 16 regulators collecting an even higher tax rate, the National Treasury explained why the proposed rate should be upheld and implemented. The national gambling tax would be in addition to the provincial tax rates and would lead to a tax rate of between 26% and 29% for all online gambling activities.

The new rate is expected to translate to an additional R10 billion in revenue generation to the South African government. However, the proposed reform was not particularly aimed at further revenue generation but to curb the issue of problem and pathological gambling and its consequences.

Enforcing oversight

In respect to that, the National Treasury has also mapped out a procedure to ensure oversight and the collection of the proposed tax rate when approved.

Every online operator will be required to register and provide the South African Revenue Service with similar information to that currently available to the provincial gambling boards they are licensed to, which is used for gambling tax revenue collection. That way, compliance will be enforced.

Local industry players who are involved in interactive gambling will also be subjected to the proposed tax, depending on the extent of the GGR of every gaming activity in which they are involved.

In its conclusion, the Treasury’s proposal noted that regulatory bodies have not kept pace with the evolving market over the years as forms of gambling (like online and interactive gambling) other than lotteries and sports pools have been let off, hence the need for the new rate on their operations.

Part one of this series showed us that vulnerability creates connection. After that piece went out, more men reached out. They wanted to contribute, to be honest, to share the parts of their journey that rarely make it into boardroom conversations or LinkedIn updates. This second column brings together four very different experiences – recovery, entrepreneurship, identity and brotherhood – but all echo the same truth: silence serves no one.

‘Keeping quiet was killing me’ – Mark Schmidt

managing director, Africa, EveryMatrix (South Africa)

Mark doesn’t soften his language when he speaks about addiction and mental health – and that is part of the impact.

“It was very clear to me that keeping quiet and not talking was one of the major reasons life became unmanageable,” he says. His most recent visit to rehab was a turning point: “I let go of the shame I was carrying. I started having very open and very difficult conversations.”

In an industry where leaders are often expected to remain composed at all costs, he made a different choice – he chose truth over image. “I realised that in iGaming, addiction, substance abuse and mental health struggles aren’t isolated to me. They are everywhere. Speaking up wasn’t courage; it was survival.”

He is open about the challenges of early sobriety, especially while leading a fast-growing African region. “The first few months were difficult,” he says. “But over time, managing stress, expectations, rapid growth and entertainment became easier. I have very firm boundaries. And I’m incredibly fortunate to have my wife by my side – she knows me better than anyone.”

Sobriety changed not only his lifestyle, but his entire leadership identity.

“This has been the most successful year of my career,” he reflects. “It’s down to being authentic. Not worrying about what others think. Being honest, direct, human.”

For men who are quietly struggling, his message is beautifully simple: “Your situation isn’t unique. People all over the world are dealing with the same battles. Ask for help. I’ll always be open to being the person they reach out to.”

Today, Mark works with the Recovery in Gaming (RiG) initiative; offering support, anonymity and community to others who need it.

His honesty reminds us that vulnerability is not an interruption to leadership, but it’s part of the foundation of it.

‘It’s been a lonely journey, but I believe in the vision’ – Ayofemi Akinlaja

founder and CEO, Shacks Evolution Studios (Nigeria)

Ayofemi represents a different kind of pressure: the pressure of building something no one else in Africa has built before.

“When I started this company, I wanted to be the biggest provider from Africa,” he says, not with arrogance, but with clarity of purpose. His story is defined by persistence, discipline and faith. And he is frank about the emotional cost of building ‘from scratch’ in a market dominated by global giants.

“It’s really tough not to be emotional,” he says. “You quit everything to focus on one thing, knowing that if it fails, you’re done.” As a solo founder, he has faced technical setbacks, scepticism and moments that would have broken many. He recalls losing a “major, major deal” in 2022 because of early technical issues – a blow that could have ended the story.

“But I kept showing up,” he says. “People used to ask, ‘Who is this young guy trying to do what nobody has done?’ But the more they saw me, the more they respected the work. Eventually the ‘no’ became ‘maybe’. And then ‘we’re listening’.”

Navigating credibility, age bias and an evolving African market requires a mix of strategy and emotional resilience. “I gave myself five years to build something meaningful,” he explains. “My belief in this dream has never wavered.”

His wellbeing strategy is refreshingly practical: “Hire the right people. Reassess constantly. Keep evolving. Fear will try to creep in – don’t let it.”

And to other African men wanting to launch gaming or tech ventures, he offers advice both grounded and hopeful: “Cast away fear. Build lean. Be persistent, resilient, diligent. Challenges will come but they won’t be the end of you.”

His journey is a reminder that innovation in Africa is not emerging – it’s already here, carried by founders who refuse to give up.

‘You may feel unseen, but you are not alone’ – Sipho Hobongwana

personal assistant to the chief strategic advisor, National Gambling Board (South Africa)

Sipho’s experience shines a light on a quieter, often overlooked mental health reality: the emotional labour of navigating identity in environments where LGBTQ+ representation is limited.

“Being an LGBTQ+ professional at a National Regulator has been a balancing act,” he says. “I’ve had to read the room before being fully myself. Sometimes just being publicly present feels like the first step towards change.”

He speaks warmly about the executives and colleagues who have become unexpected champions: “One of my highs has been finding supporters who value my work ethic, integrity and perspective – regardless of identity. They helped build my confidence and self-leadership.”

But he is honest about the loneliness too. Without visible LGBTQ+ networks in African gaming, much of the journey has been walked alone. “There have been moments where I’ve had to conceal parts of myself to avoid unnecessary attention,” he shares. “But as I’ve grown, I’ve gained confidence in maintaining my boundaries while being transparent.”

His mental health practice reflects maturity beyond his years: community, therapy, grounding routines and remembering that identity is only one part of who he is. “Before my title, I’m a human,” he says. “Checking in with myself has become essential.”

His message to others is both gentle and powerful: “You may feel unseen, but you are not alone. Your existence already challenges the narrative of who belongs. Authenticity is not a weakness – it’s a quiet form of leadership.”

Sipho’s story widens the lens on representation, reminding us that inclusion is not abstract – it’s deeply personal.

‘We don’t compete. We build together’ – Moshe & Ashley Adir

founder and co-founder, Vegas Kings (South Africa)

Very few business stories sound quite like this one. For more than 27 years, Moshe and Ashley have built Vegas Kings – and built it together, shoulder-to-shoulder, as brothers.

Moshe describes their partnership in a way only siblings can: “We function as two parts of one whole. The biggest strength is absolute trust.”

Every morning begins with a hug. “It sets my compass for the day,” he says.

Ashley brings his own perspective: “When the chips are down, we put our heads down and grind it out – no signalling needed. After 27 years, it just flows.”

Their dynamic is a yin-yang blend that works because it’s intentional. Moshe is the dreamer chasing “shiny objects”, while Ashley is the grounded operator with laser focus. They split responsibilities 50/50, respect each other’s lanes and refuse to let ego take root.

“People warn against working with family,” Moshe says, “but our secret is simple – stop competing. Let the ego go. Build the dream together.”

Their wellbeing approach is honest – they are workaholics. They don’t switch off, but they feed their creativity through side passions: music, AI, innovation. “It’s the entrepreneur’s curse,” Ashley laughs. “But we wouldn’t have it any other way.”

Their story is a testament to trust, consistency, emotional maturity and love – and a reminder that male vulnerability isn’t always loud. Sometimes it looks like showing up for each other every day, for decades.

Closing

These stories matter because they reveal something our industry often forgets: beneath the pressure, pace and performance, men carry complexity too – identity questions, recovery, loneliness, burnout, brotherhood, responsibility and the quiet courage to keep going.

Our work around mental health and inclusion continues, and we welcome more voices. If you – or someone you know – has a story worth sharing, please reach out. Silence helps no one.

About Women in Gaming Africa

Women in Gaming Africa (WiG Africa) is a non-profit community connecting, elevating and empowering women across the continent’s gaming industry. 

Through events, mentorship and advocacy, WiG Africa champions representation, leadership and inclusion while fostering a stronger, more connected African gaming ecosystem. Learn more or get involved at www.womeningamingafrica.org.

From 2 December, residents in the following countries will be unable to place bets with William Hill; Angola, Bolivia, Burkina Faso, Cameroon, Kenya, Mozambique, Nepal, Nicaragua, Nigeria, Republic of Congo, Democratic Republic of Congo, Somalia, Vietnam.

As explained on the William Hill website, any open bets will be settled as normal up to 2 December. Any bets due to be settled after that will be voided and refunded to accounts.

Customers will be able to log in to their accounts until 5 January to withdraw their funds.

From 6 January onwards, players’ login details will no longer work. To withdraw their remaining funds, they will have to contact the customer service team.

In 2022, Evoke licensed the 888 brand to the Africa-facing joint venture 888Africa for regulated online markets in the continent. Evoke retains a stake in the venture.

Ex-Paddy Power head of competitive intelligence Christopher Coyne serves as CEO of 888Africa, while former William Hill online manager director Andrew Lee holds the position of chief product officer.

Threat of retail closures in the UK

The withdrawal from these 13 markets comes after Evoke warned it could close up to 200 William Hill retail shops in the UK should the government increase gambling tax in the November budget, which is due next Wednesday.

Evoke is reportedly mulling the closure of up to 15% of its UK William Hill stores, with 1,500 jobs potentially being lost.

An Evoke spokesperson said: “As part of our ongoing planning, we are assessing the potential impact of different overall tax scenarios on our UK operations. This includes the difficult but necessary consideration for shop closures.

“We are mindful of potential tax increases in the forthcoming budget which would impact investment in the UK and drive more customers to the black market.”

Members of the Federation of State Gaming Regulators of Nigeria (FSGRN) and the CEO of Enugu State Gaming and Lotto Commission Prince Arinze Arum lauded the steps taken to implement global best market practices across the country. Prominent among them is positioning Nigeria’s state regulators at the forefront of global gaming regulations.  

Speaking to iGB on 13 November, Arinze notes the initiative would steer Nigeria’s iGaming operations in the right direction if well implemented. “This structured exchange of knowledge programme is indeed commendable and reflects the forward-thinking posture of the FSGRN,” he says.  

“As a member of the association, the Enugu State Gaming and Lotto Commission is fully aligned with the spirit and objectives of the collaboration with GESPA. We are, however, still awaiting the full details of the arrangement and how its outcomes will be domesticated across the various state commissions.  

“That said,” he continues, “the concept itself is a strong signal that Nigeria’s regulators are serious about deepening global cooperation, improving regulatory capacity and embedding best practices in consumer protection and responsible gaming. 

“This kind of partnership ultimately benefits operators, too, by creating a more credible, transparent and trustworthy environment for iGaming in Nigeria. I fully believe it is a step in the right direction, and one we look forward to seeing fully implemented.” 

The current state of Nigeria’s iGaming regulations  

When quizzed on whether he feels the regulations in Nigeria are closely mirroring global standards and the industry’s best practices today, Arinze agrees that progress is being made. Arum believes that, with time, other countries from around the continent could emulate them.  

“I would say that Nigeria’s regulators have made significant progress in aligning with international standards,” he adds. “The last few years have seen a deliberate shift towards harmonisation, where regulatory frameworks have not only been consistent across states but have been benchmarked against the principles of integrity, fairness and player protection that define modern gaming oversight.”

Arum believes Enugu and Lagos have implemented policies which increasingly mirror those in mature jurisdictions such as the UK, Malta and other parts of Europe.  

Putting things into a wider context, he says the state regulator’s focus is on robust licensing, digital transparency, responsible gaming frameworks and effective tax compliance.  

“Given this trajectory, I believe other African markets will soon begin to emulate Nigeria’s approach. Our country is already becoming a reference point for structured gaming regulation in sub-Saharan Africa, showing that with the right policy leadership, local markets can achieve both investor confidence and consumer trust.” 

Enugu state to boost foreign investor confidence

Arum says the commission is working around the clock to roll out and strengthen initiatives that will significantly improve market standards and boost investment confidence in and around the state.  

“At the Enugu State Gaming and Lotto Commission we are prioritising reforms that make our market more transparent, investor-friendly and socially responsible,” he said before going on to explain these initiatives.  

The first initiative is to strengthen regulatory technology infrastructure to ensure real-time monitoring of operators’ activities. This will help improve compliance and enhance data integrity and consumer protection. 

Second is a responsible gaming and legal education framework that engages agents, operators and players. The aim is to make gaming literacy a shared responsibility, “because a well-informed market is a safer market”, Arum says.

An additional project with the state government is seeking to create an investment facilitation window, which will streamline approvals and reduce bureaucratic friction for legitimate investors who want to establish themselves in Enugu.  

These initiatives will be designed to position Enugu as one of the most progressive, transparent and technology-driven gaming jurisdictions in Nigeria.

Can a centralised regulatory framework work in Africa?

Many recent conferences in Africa have revolved around the continent centralising gaming regulations. This move would allow operators licensed within a specific regulatory framework to do business around the continent with fewer hitches.  

Arinze feels it is a progressive idea but, in a practical sense, different cultural perceptions of gaming as well as varied legal systems make it a difficult thing to implement.  

“You see, in principle, regional harmonisation is an attractive idea. It speaks to efficiency, integration and the growth of Africa’s gaming economy,” Arum notes. 

“However, in practical terms, achieving a single cross-border regulatory framework for gaming in Africa is a much more complex proposition. Each country currently operates under distinct legal systems, taxation models and cultural perceptions of gaming. These differences shape how each regulator defines responsible gaming, determines suitability criteria and enforces compliance.” 

The idea of an operator licensed in Nigeria seamlessly being able to operate in Ghana sounds progressive. However, it would require a deep level of policy coordination, mutual recognition of standards, and political will across jurisdictions. Arinze recognises some of the necessary elements for this are not yet fully in place. 

“I believe that gradual collaboration is the way forward,” he concludes. “We can start with bilateral or sub-regional agreements on information sharing, AML compliance and responsible gaming standards. Over time, these can build the foundation for broader harmonisation.  

“While I’m optimistic about greater regional cooperation, I would say that full cross-border operational harmonisation will remain an aspiration which won’t be achieved overnight.” 

Super Group made the announcement on Thursday, with the purpose-built ZAR Supercoin to operate under a new division of the business called Super Money SA. The digital wallet is expected to launch in Q1 of next year.

The stablecoin will be used as a payment option for its Betway sportsbook brand, with the business looking to capitalise on the growing popularity of blockchain. An in-house cryptocurrency was first hinted at during Super Group’s Q2 earnings call, with CEO Neal Menashe saying the payments system could help mitigate high operating costs and leverage the growing popularity of crypto among consumers.

Africa’s stablecoin volumes are estimated to be worth around $100 billion across key markets, the company said.

The new blockchain-focused segment will also introduce a new Supercoin Wallet with the hopes it will provide a smoother payment process for the population in South Africa and the wider continent.

Alinda van Wyk, Super Group chief financial officer, said now was the right time for the company to move into the crypto space, due to the growing demand for convenient payment solutions.

“We have always been at the forefront of tech advancement in the gambling industry and this offering will also benefit the millions of customers who enjoy our brands in South Africa and in the rest of the continent,” Van Wyk said.

“The launch of Supercoin will position us for continued success, as alternative payment methods and digital asset frameworks become more integrated into the regulated gaming ecosystem. This also underscores our commitment to innovation and the use of advanced technology to position Super Group for sustained growth.”

Super Group’s Supercoin listed on Luno in SA

The stablecoin will be listed on leading regulated cryptocurrency exchange Luno and will be made available to customers in South Africa initially, the company said. As it gains traction, it will be added to other exchanges across the continent.

Tier 1 South African bank ABSA Group will hold custody of the Supercoin’s fiat currency backing reserves. The ZAR Supercoin will be deployed on the Solana blockchain, while Chainalysis will provide compliance solutions so that Super Money can establish risk policies and monitor transactions.

Growing acceptance of crypto

In a post-Q3 earnings call earlier this month, Menashe said the launch of its stablecoin marked a “significant and strategic step forward” in the company’s approach to payments.

“We intend Supercoin to be more than just a rewards tool,” Menashe explained. “It marks a crucial first step in integrating digital assets into our product stack.”

He said the wallet option would provide customers with a seamless and secure way to store, send and transact using Supercoin. “We expect it will lead to cost efficiencies over time,” he added.

Interest in crypto within the regulated gambling space has been heating up of late, particularly after Yolo Group announced in September that it was bringing its crypto casino brand into regulated markets.

At the time, Yolo said its decision was in part down to crypto becoming “mainstream”, with iGaming and sports consultant Stefan Kovach recently telling iGB: “Having been in the [crypto] space for seven, eight years, it’s definitely moved beyond a very core niche into something much, much bigger.”

This week, UK Gambling Commission CEO Andrew Rhodes also highlighted the increasing interest in crypto among gamblers. In a speech to industry CEOs, he cautioned the government could no longer overlook crypto gambling.

He refrained, however, from suggesting the UK might soon grant licences for crypto-based betting, emphasising instead that new regulatory measures must be established by policymakers.

The first in this special two-part series for Men’s Mental Health Month shares the stories of five remarkable men in gaming from across the continent – men who have faced loss, addiction, illness and adversity, and chosen to turn those experiences into strength, empathy and action.

At its heart, this isn’t a story about struggle. It’s about courage. It’s about what happens when men stop pretending they’re invincible and start leading with honesty and heart.

Garron Whitesman: Finding strength through loss

For Garron, losing his daughter Jaime-Rose was the deepest pain imaginable. “I lost part of my soul that will never return,” he says. “But when something this huge happens, your choice is binary – to crawl under a rock or to move forward meaningfully and positively.”

In the aftermath of unimaginable loss, Garron made the decision to keep living with purpose. “The best way to honour my girl is to keep moving forward with a smile on my face,” he shares. “I feel her with me, pushing me forward and telling me to smile and get the hell on with it.”

His honesty about grief has made him both tougher and more compassionate. “I don’t sweat the small stuff anymore,” he says. “It’s made me more resilient, but also more understanding of others’ struggles.”

While he doesn’t see his work as a tribute in itself, Garron’s character, drive, kindness and commitment is deeply shaped by fatherhood and loss. “I’m a far better person for having been blessed to be her dad,” he says. “She taught me courage, and that’s something I carry into everything I do.”

Ladipo Abiose: Turning addiction into advocacy

For Ladipo, founder of GamblePause Initiative Africa, the fight was personal. Having overcome a gambling addiction that stripped away his confidence and relationships, he chose to build something new – a platform for recovery, education and awareness.

“Realising how much gambling addiction had taken from me pushed me to transform my pain into purpose,” he says. “Many in Africa still see addiction as a spiritual problem, not a mental health issue. We need compassion and professional help, not shame.”

Through GamblePause, Ladipo and his team have launched Nigeria’s first free rehabilitation clinic for gambling addicts and a series of outreach programmes that meet people where they are – schools, communities and online. “Recovery starts with a pause,” he says, “And a belief that you’re not alone.”

Martin Sack: Rebuilding after cancer

When Martin was diagnosed with pancreatic cancer in 2023, everything stopped. “It was the hardest period of my life,” he says. “There were days I couldn’t get out of bed. And when you work for yourself, there’s no safety net. If you’re down, the business goes down with you.”

After months of chemotherapy and surgery, Martin is now cancer-free and changed forever. “It stripped everything back to the essentials: family, health, time. Everything else is secondary.”

He’s honest about how men often struggle to open up. “We’re taught to carry everything alone. Vulnerability doesn’t have to be public –  it just needs to be real, with the right people.” What carried him through was community. “A small group in the industry quietly showed up – checking in, helping with work. No fuss, just kindness.”

His message to others? “Don’t wait. Don’t try to handle everything alone. Find your people.”

Lombo Mphande: Changing the conversation before it starts

Lombo’s work through Bet Chats takes him into schools and township communities, teaching young people about gambling and mental health before either becomes a problem.

“In South Africa, we have communities where these conversations don’t often happen, but that’s where awareness is needed most,” he explains. “We don’t lecture. We ask questions, tell stories and meet people where they are.”

His approach is rooted in honesty and relatability. “When you speak about mental health without stigma and focus on choice, young people open up,” he says. “We’ve seen students start peer-led conversations and teachers spot early warning signs. Awareness is turning into leadership.”

For Lombo, the goal is prevention through partnership. “Responsibility shouldn’t start at the point of deposit – it should start at the point of awareness,” he says. “If the industry wants to build long-term trust, we must invest in education and community.”

David Moshi: Redefining leadership and emotional intelligence

In Kenya’s vibrant gaming scene, David Moshi has become known for something rare – empowering women into leadership and building emotionally intelligent workplaces.

“At Velex Advisory East Africa, our philosophy has always been talent-first,” he says. “Women have proven time and again their ability to lead with excellence and integrity. The key is creating environments where everyone thrives based on ability, not gender.”

David believes that leadership today requires empathy, emotional intelligence and openness to vulnerability. “Men in leadership must create environments where wellbeing is prioritised,” he says. “Emotional awareness is not a weakness – it’s a strength.”

For him, embracing vulnerability has been transformational. “True resilience comes from maintaining focus on solutions, not problems. Seeking support isn’t a sign of weakness – it’s strategy.”

Closing thoughts

Across five deeply personal stories, one message echoes: strength isn’t found in silence, it’s found in connection. From Lombo’s classrooms in South Africa to Ladipo’s recovery clinics in Nigeria, from Martin’s battle with cancer to Garron’s enduring love for his daughter, as well as David’s conscious leadership in Kenya – these men show that courage and compassion can coexist.

As WiG Africa continues to expand its work beyond gender and geography, these voices remind us that mental health is everyone’s issue. This is Part One of our two-part series for Men’s Mental Health Month – stories of reflection, recovery and resilience that show just how powerful it is when men in gaming choose to speak up, step forward and lead differently.

About Women in Gaming Africa

Women in Gaming Africa (WiG Africa) is a non-profit community connecting, elevating and empowering women across the continent’s gaming industry.

Through events, mentorship and advocacy, WiG Africa champions representation, leadership and inclusion while fostering a stronger, more connected African gaming ecosystem. Learn more or get involved at www.womeningamingafrica.org.

Back in July, the Federation of State Gaming Regulators of Nigeria (FSGRN) strongly opposed the enactment of the bill, which sought federal control over all games of chance. The first incarnation of the licensing regime was in the National Lottery Act 2005 but that was nullified by the Supreme Court in November 2024.

At the time the Supreme Court ruled the country’s National Lottery Act was void and its state legislative assemblies should regulate lottery and games of chance instead of the federal government of Nigeria.

But the House of Representatives has been pushing for a similar piece of law to pass, the Nigeria Central Gaming Bill, which largely mirrors the previous framework.

The chamber has come under fire for trying to flout the ruling of the Supreme Court – the final authority that defines federal laws or the constitution.

“Once the court has made a decision on a subject, it becomes final and binding on all persons and authorities – including the executive and the legislature,” Nelson Ekujumi, leader of the CCG group Comrade, said during its recent conference.

“We are at a loss to try and rationalise why the National Assembly, made up of the Senate and the House of Representatives, is attempting to illegally and unconstitutionally rewrite the law.

“This is nothing short of legislative provocation and lawlessness which stands condemned in all ramifications.

“If the Senate proceeds with this illegal bill, it would amount to a brazen defiance of judicial authority and a direct attack on the rule of law,” Ekujumi added.

Legal advisory calls the move unfounded

Clarifying the ongoing tussle between these bodies, gaming law expert and senior partner at Allen & Marylebone, Obinna Akpuchukwu says the move remains not just “unconstitutional” but “unfounded”.

Speaking to iGB, he is very critical of the National Assembly’s repeated moves to try and override the standing ruling on NIgeria’s

“The Central Gaming Bill, if passed into law will be unconstitutional,” Akpuchukwu says.

“The argument of the proponents of the bill to the effect that the bill seeks to regulate online/remote gaming activities in Nigeria and that the repealed National Lottery Act did not provide for the regulation of online/remote gaming activities, is with respect, unfounded.

“All the forms of gaming activities stated in sections 24(1) and 25(1) of the Central Gaming Bill which the Central Gaming Commission will regulate when the bill is passed into law are accommodated within the definition of “lottery” as provided in section 57 of the nullified National Lottery Act,” he continues.

“In other words, the provisions of the nullified National Lottery Act cover land-based, online and remote gaming activities and the Supreme Court did not make any distinction between land-based gaming and online/remote gaming activities.”

A diplomatic counsel to the matter?

Akpuchukwu suggests a formal process of amendment could be the only solution to achieve the National Assembly’s goals. Not to do so would render their current attempts null and void.

“In the decision of the Supreme Court in Attorney General of Lagos State & Ors vs Attorney General of the Federation & Ors (2025), the court emphatically declared that lottery and gaming are not matters listed in either the Exclusive or Concurrent Legislative Lists of the 1999 Constitution (as amended),” Akpuchukwu explains.

“Rather, gaming and lottery are items within the Residual Matters, meaning only state governments have the constitutional authority to legislate and regulate such activities within their territories. Neither the Exclusive Legislative list nor the Concurrent Legislative list contains ‘online gaming’.”

His opinion suggests that, if the National Assembly feels strongly that it needs to have a central regulatory body for online/remote gaming, then the best approach would be to begin the process of amending the constitution to include online gaming in the Exclusive Legislative list.

“The current attempt to enact the Central Gaming Bill into law will only be a wasted effort,” Akpuchukwu concludes definitively. “The Supreme Court is most likely to nullify it, just as it did the National Lottery Act.”

The Betway and Spin owner reported strong performances in the UK and Africa, with the revenues in these markets increasing by 71% and 36% respectively.

The growth in Africa was driven by “solid gains” in Malawi and Tanzania, as well as a 23% revenue rise in South Africa, the operator said. Africa and the Middle East accounted for up to 40% of Super Group’s total revenue in Q3, up from 38% in the same period last year.

In the UK, meanwhile, sports betting revenue shot up 89%, while online casino also increased by 67%.

Analysts at Regulus Partners said the group was “continuing a very strong run which suggests run-rate market share in the UK has grown by 1.6pts to 3.8%”.

Total monthly active customers across all brands reached an all-time high monthly average of 5.5 million in Q3, marking an 18% increase year-on-year. in September alone Super Group reached a record of around six million monthly actives.

Super Group CEO Neal Menashe believes the company’s Q3 performance demonstrates the continued strength of its platform and execution across its core markets.

“Despite customer-friendly outcomes in September, we delivered record-level customer engagement, strong revenue growth and margin expansion,” Menashe said.

“Hitting six million monthly active customers was another significant milestone, a reflection of our product innovation and local execution.”

Canada also a Q3 success story, although LatAm declines

LatAm revenue for Super Group in Q3 dropped from $6 million to $4 million, although growth in Africa and the UK offset that decline.

Canada was another success story for Super Group in the period, with the market increasing its revenue by 15% when excluding Ontario, which grew just 3% year-on-year.

Growth in Canada led Super Group to a 12.4% hike in North America revenue. This will likely be the last full quarter in which US revenue is included in the earnings as the company is set to close its US business in Q4.

Super Group has been offering iGaming in Pennsylvania and New Jersey for some time, although it announced in June it would pull out of the US due to “regulatory shifts impacting long-term US expected profitability”.

Super Group again increases guidance

Strong results left Super Group with an adjusted EBITDA of $152 million (up 65.2%) and a Q3 profit of $95.8 million, a mammoth 830% increase from the $10.3 million reported last year.

Notably, the operator said it had adopted a change in presentation currency from euros to USD as of January. Accordingly, the comparative table has been re-presented retrospectively in line with the change.

As a result of its strong results, Super Group has raised its full-year revenue forecast by 3% to $2.17 billon-$2.27 billion from its previous target of $2.125 billion-$2.2 billion.

The operator also raised its full year adjusted EBITDA forecast slightly to $555 million-$565 million from $550 million-$560 million.

Super Group CFO Alinda van Wyk said of its Q3 results: “Our disciplined investment in high-return markets, combined with operational efficiencies and improved marketing ROI, continues to translate into expanding margins.

“Our balance sheet remains robust with $462 million in cash, giving us both flexibility and confidence as we look ahead to 2026.”

Super Group previously raised its guidance in September at an investor day after a stronger-than-expected start to the quarter.

Previously, Super Group was anticipating ex-US group revenue of at least $2.04 billion, with a forecast of between $470 million and $480 million for adjusted EBITDA.

Analysts suggest path for future Super Group growth

In its note, Regulus Partners highlighted the company’s decision to not enter “expensive new markets with the vigour of many of its competitors”, claiming many of those businesses are now potential M&A targets.

After a strong Q3, Regulus believes Super Group should alter its strategy slightly to continue its growth.

“Super Group’s regulatory risk profile remains relatively ‘spicy’, our view, but while macro growth in mature markets has consistently saved the day in the past, Super Group must now pivot into emerging markets to maintain momentum,” Regulus said.

The policy, rolled out by the government in July, allows for a 5% tax rate on every withdrawal made on any betting wallet, scrapping the previous 20% levy on net winnings. An additional 5% excise duty on deposits also came into effect, which does away with the previous duty of 15%.  

Legal advisors David Sarinke of McKay Advocates and Allan Mzungu of MMS Advocates both believe the new policy could bring about a financial boom for the government.  

Yet, it has also shifted a higher cost burden onto casual bettors and has introduced new behavioral and ethical challenges that gambling regulators must monitor closely.  

“Business Daily [recently] reported government betting tax revenues are projected to nearly double after the rate cuts.” Sarinke tells iGB. “That strongly implies increased betting activity has already started to pick up following the Finance Act 2025 changes.”  

“This change simplifies enforcement because tax is now collected digitally at the wallet gateway rather than at the level of individual bets,” Mzungu explains further.  

“It broadens the tax base, since even people who deposit and later withdraw without [actively] betting are taxed, capturing far more users than before. It will surely ensure continuous cash flow to the Kenyan revenue authorities, as deposits and withdrawals occur daily.” 

‘Wallet-flow’ taxation system  

According to the Parliamentary Budget Office, this “wallet-flow” system could see a doubling of gambling tax revenue. With collection now automatic and seemingly “tamper-proof”, it could mean a projected rise from about KSh5.4 billion to KSh11.4 billion in the 2025-26 financial year. 

“Under the old regime, it was the winners who paid the most – 15% to 20% of their winnings,” explains Mzungu. “Now, all bettors will pay 5% on deposits and withdrawals, regardless of whether they win or lose.” 

Mzungu says Kenya’s new gambling tax policy will stabilise revenue and close loopholes for the government. However, casual bettors will end up paying more as they are taxed even without winning.  

As Sarinke puts it: “This shift has created a cash-flow based tax model rather than a bet-outcome model.” 

The impact on betting behaviour 

SportPesa, Kenya’s largest operator, reported in an August 2025 update that the average wallet balance per active user rose by KSh285 within the first month of the new regulation. This indicated that bettors were now retaining funds for longer periods. 

“In terms of the behavioural impact on bettors, I’d say it is still too early to determine as the regulator has not yet released any official data,” Sarinke notes.  

“But you [expect] the lower effective tax burden [on winnings] would naturally incentivise higher betting frequency and wallet liquidity.” 

Mzungu goes on to clarify the metrics behind Kenya’s new gambling tax system: “Before the reform, a bettor who won KSh10,000 would lose between KSh1,500 and KSh2,000 to the withholding tax on winnings. Now, under the new law, withdrawing that same KSh10,000 attracts only KSh500 in tax, which is a 70% reduction in effective tax liability.” 

The Finance Act 2025 has turned Kenya’s betting ecosystem into a real-time, wallet-based tax network. It simplifies enforcement for government, has boosted revenues and incentivizes continuous betting for experienced punters. 

Mzungu is quietly optimistic in the long term: “If properly enforced and supported by responsible gambling frameworks, the reform could stand as a model for digital tax policy in Africa, balancing fiscal innovation with behavioral insight.”

In July, the gambling regulator in Kenya announced a shakeup of its licensing process, including a significant licensing fee hike.

Yet, the revenue being generated through the “proliferation” of betting houses in the southern African nation was not flowing directly into the treasury, as punters’ winnings were untaxed. To formalise the industry and help boost revenue collection to meet “pressing budget needs”, he introduced the 10% withholding tax on gross sports betting winnings, one of only four taxes that he announced on that day.  

The tax, which came into force on 1 January, applies to winnings at all local betting shops and via online platforms operated by land-based bookmakers.

The Herald, a local daily, reported on 13 March that Zimbabwe’s gambling industry had generated about $120 million in revenue in 2023, with the online segment contributing $45 million.  

Ncube previously projected the economy could collect up to $15 million annually via the punters’ tax, based on his forecast of $150 million gross winnings in 2025. He said about 300,000 locals engaged in online betting in 2024, up 15% on the prior year, with 60% of bettors being between 18 and 35 years old.

“This growth has been fuelled by rising internet penetration and the accessibility of smartphones, with over 5.2 million devices in use nationwide,” the paper wrote.

Zimbabwe withholding tax will prove costly for operators

To comply with the new tax collection system, Marvellous Tapera, the founder and managing partner of WTS Tax Matrix, a leading Zimbabwean tax consultancy, said bookmakers were required to set up or upgrade their transaction and reporting systems to automatically calculate and withhold the 10% levy on all winning payouts across points of sale and online wallets.

“They also had to enhance accounting and reconciliation workflows to produce accurate monthly returns for ZIMRA (Zimbabwe Revenue Authority), train staff on tax procedures and customer communications, improve cash management and banking for timely remittances, and often consult tax or legal experts to ensure full compliance,” he tells iGB.

“Although feasible, these changes were operationally demanding and particularly costly for smaller operators, requiring significant time and financial resources,” Tapera adds.

Citing an anonymous operator, The Herald’s article reported Zimbabwe’s withholding tax would require a system upgrade costing up to $50,000 per platform. This is in addition to the $20,000 the average bookmaker spends on tax reporting yearly.

Tapera observes the betting tax’s flat structure raises fairness concerns. In its current form, he argues, the tax “is socially regressive” as it affects low-income and casual bettors compared to wealthier participants. It has the potential to squeeze operators’ profit margins and cause them to adjust odds to make up the losses.

“Applying a uniform 10% withholding tax without any exemption is regressive in a low-income economy like Zimbabwe’s, as it risks burdening poorer bettors and driving gambling activity to unregulated platforms,” Tapera adds.

He advises the government to adopt a more nuanced structure like the one proposed in South Africa, which is based on the amount and frequency of players’ winnings.

What can Zimbabwe learn from other African markets?

“South Africa’s model – a 15% withholding tax applied only to winnings above R25,000 – demonstrates how such a safeguard can protect casual players, and Zimbabwe would benefit from implementing a similar threshold or accompanying social protection measures,” Tapera suggests.

“Introducing a minimum exemption threshold or adopting a more progressive structure would make the system fairer while still capturing significant revenue from larger winnings.”

In a release on 5 September, Stats SA, South Africa’s national data agency, said the gambling sector generated $3.4 billion in GGR during the 2023-24 financial year. The latest figures from the National Gambling Board (NGB) in October reported an increase to $4.3 billion for the financial year 2024-25.

South Africa’s government announced the proposal to introduce a tax on winnings in 2011, with the aim being to start collecting it in the following year. The levy targets professional or regular bettors, while seeking to exclude casual punters.  

However, according to Deloitte, the government had not yet implemented the tax in February, due to staunch opposition from the local industry. 

Withholding tax must account for inflation

“The current economic climate, characterised by high unemployment and cost of living, calls for a balance between revenue generation and social protection,” the consultancy said in a 10 February note.

“A withholding tax on individual winnings may provide this balance if carefully structured. The minimum value for taxation should be reconsidered, taking into account inflation over the last 13 years since the first proposal. This will ensure that those gambling to supplement their low income are kept out of this tax net and do not turn to illegal gambling activities, which are completely out of SARS’ (South African Revenue Service) grasp,” the note said

In October, the Kenyan government similarly introduced a 5% withdrawal tax to replace its previous 20% tax on net winnings. It expects to collect about $74 million in the 2025-26 fiscal year, more than double the $35 million it collected previously.

Rapidly growing mobile penetration leaving land-based betting behind

Commenting on the new Kenyan model, Parliament’s “The Budget Watch 2025” document said a blanket tax rate could discourage casual participants and push actors from regulated platforms to offshore ones.

An official at one of Zimbabwe’s largest land-based operators expresses a similar concern to iGB. Speaking off the record, he says the withholding tax came into effect at a time when a large number of local punters is increasingly switching to unregulated and offshore operators.

“One now needs a mobile phone, a computer and an internet connection to start betting online,” he says.

“Some workers have been disciplined by their employers for participating in online gaming and betting using their employers’ computers and internet. And this [is on] platforms not subject to local regulations, including the new tax. 

“There are some people who used to visit brick-and-mortar branches who are now not doing so as frequently. [Zimbabwe’s witholding] tax will hasten the traffic to online platforms, leaving physical betting halls empty or for the few that don’t have smartphones and mobile data, and the old, technologically less-experienced ones.”

The Postal and Regulatory Authority of Zimbabwe said in its latest quarterly report in October that the nation’s mobile penetration rose from 101.39% in the first quarter of 2025 to 102.64% in the second.  The internet penetration also jumped from 76.19% in March, to 81.83% by June.

The session was presented to the committee by the National Gambling Board (NGB) and the National Lotteries Commission (NLC).

Overall turnover across all verticals stood at ZAR1.5 trillion. “Obviously this figure includes all of the [gambling] sectors, and also across the PLAs,” NGB acting Chairman Lungile Dukwana told members.

PLAs are Provincial Licensing Authorities that have the power to grant land-based and online licenses within their region. There are nine in South Africa today.

GGR from online betting was up 60% on the previous year, the data showed. And taxes and levies collected by regulatory bodies amounted to ZAR5.8 billion ($335 million), with the betting sector accounting for the greatest share of these taxes (59%) at ZAR3.4 billion.

This was followed by the casino industry (30%), which generated ZAR1.7 billion. Limited Payout Machines (LPM) (9% overall) generated ZAR525 million and the bingo industry accounted for 2%.

Provincially, the Western Cape was the major driver in terms of gambling revenue generation (30%), with Mpumalanga coming in second and Gauteng third. Data showed the gambling industry directly employed 33,169 people during the year.

“The [data] gives an indication of the prominence around the area of online betting specifically, which obviously has an effect on the physical casinos,” said Dukwana.

Dukwana was appointed to head the board following the resignation of former head Caroline Kongwa in July, after a forensic audit flagged “irregular spending” within the department, related to a number of bonuses she had received.

Lottery finances in South Africa

Moving on to key financial movements from the Lottery Commission between 2024 and 2025, ticket sales rose from ZAR1.8 billion to ZAR1.96 billion thanks to an increase in the number of major jackpots, digital penetration and marketing.

Operational costs increased from ZAR533 million to ZAR651 million, while grant expenses also increased from ZAR545 million to ZAR958 million. Irregular expenditures noticeably decreased from ZAR44.9 million to ZAR6.8 million.

Commissioner for the NLC Jodi Scholtz outlined the board’s activities across South Africa’s nine provinces, which included erecting new offices in each, as well as morphing into a more purpose-driven organisation.

Impact of the black market on South Africa

During the session, a number of MPs flagged how a surge in mobile phone usage was driving up illegal gambling activity among players.

The regulators told the committee that most of the offshore operators providing unlicensed gambling in the market appeared to be licensed or based in Curaçao.

Dukwana’s presentation also outlined the NGB’s upcoming strategy, which he said would involve the regulator assessing the performance of PLAs “to ensure the national norms and standards established by the NGA are applied uniformly and consistently throughout the Republic of South Africa”.

Additionally, the national regulator would assist the PLAs in detecting and targeting unlicensed gambling activities in the market.

This month, as part of the iGaming Business x Women in Gaming Africa monthly column, we spotlight five remarkable Kenyan women whose work is redefining how the world sees Africa’s gaming landscape. From regulators to legal experts, communicators and platform leaders, their stories reflect a country that is not just growing, but leading.

The regulator’s perspective: Building trust through structure

For Esther Argwings, assistant director at Kenya’s Gaming, Betting Control and Licensing Board, her 26-year journey through the industry mirrors its evolution. Having risen from gaming inspector to senior leadership, she has seen Kenya’s gaming industry expand from local casinos to a dynamic, digitally enabled ecosystem.

“The industry has grown in numbers and in keeping up with international operations,” she explains. “With the new Gambling Control Act of 2025, there are new opportunities for operators and better instruments to regulate the sector effectively.”

Esther’s mission is deeply rooted in responsible gaming and education. “The public needs to be sensitised about the harms of gambling and the importance of responsible play,” she says. “We’re working to ensure players can access help when they need it, and to build a system that prioritises safety and compliance.”

Her message to the global gaming community is clear: Kenya is not a frontier, it’s a dynamic innovation hub shaped by its youth, technology and ambition.

The connector: Bridging local talent with global platforms

For Agatha Wanjugu, sales and account manager at QTech Games, Kenya’s potential lies in connection. “What drew me to [Kenya’s] gaming industry is how it blends technology, creativity and community,” she says. “It’s fast-paced, constantly evolving and every day brings something new.”

She believes Kenya’s biggest growth potential lies in creating platforms that connect global content with local players while showcasing African talent. “It’s not just about importing games,” she adds.

“It’s about building ecosystems that include esports, homegrown content and partnerships that celebrate African creativity.”

At QTech, her focus is on localisation and collaboration. “We work closely with partners to adapt offerings to African markets, from language to bonuses to player engagement. By amplifying local voices and ensuring responsible growth, we’re helping shape a sustainable gaming future.”

The platform visionary: Building African frameworks for global content

Zsuzsanna Zeibig, general manager at EGT Kenya, has spent two decades in gaming, working her way up from croupier to regional leader. Now based in Nairobi, she oversees both digital content distribution and land-based solutions across Africa, giving her a unique perspective on how technology and localisation are shaping the continent’s future.

“The regulation is being shaped to accommodate both industry players and local audiences,” she says.

“But one of the biggest challenges is that new markets often try to copy existing Western regulations. African countries should learn from one another instead, because each market has unique cultural, economic and political dynamics.”

For Zsuzsanna, growth in Kenya’s gaming industry lies in adapting technology to African realities while empowering local players and partners.

“Sports and crash games are leading now, but casino content is growing fast. The most exciting part is that we’re here at the beginning, helping shape how digital gaming evolves in Africa.”

The communicator: Giving Kenya’s industry its voice

Lola Okulo, co-founder of Tact Communications and former head of PR for BetPawa Africa, has spent nearly a decade shaping the narrative of gaming across the continent.

She didn’t plan to enter the industry, “it chose me,” she laughs, but she quickly became one of its strongest advocates. “This industry contributes so much to sports and ecommerce, but often struggles with reputation and misunderstanding,” she says. “Communications should sit at the heart of business strategy, guiding decisions and building trust.”

For Lola, Kenya’s success is inseparable from its technological edge. “We’re a mobile-first market with one of the most advanced fintech ecosystems in the world,” she explains. “Financial inclusion, mobile money and connectivity create an environment where gaming can thrive responsibly.”

Her goal is to see communications elevated across African operators. “When communications leads from the top, we prevent issues before they arise and tell our story with pride.”

The legal architect: Championing responsibility and AI integration

Rounding out the group is Aileen Yonah-Mima, general counsel for Carnaval Kenya Ltd, who has been instrumental in embedding responsible gaming into corporate DNA. “My passion comes from developing initiatives that promote responsible play and leading CSR projects that uplift communities,” she says.

Aileen’s legal work is shaping the next phase of Kenya’s gaming growth. “The biggest opportunity lies in integrating AI to balance profitability and responsibility,” she explains. “AI can help personalise player experiences while mitigating risk, ensuring both sustainable business and player welfare.”

Her perspective reflects a broader Kenyan truth: innovation and ethics can coexist. “We’re not just a market,” she insists. “We’re a Silicon Savannah, driven by creativity and technology. Success here comes from deep investment in local talent, not surface-level presence.”

Kenya’s women, Africa’s future

Together, these five women paint a portrait of Kenya’s gaming industry that is vibrant, ethical and forward-looking. They represent regulators setting standards, companies bridging continents and professionals advocating for transparency, collaboration and inclusion.

Their work is proof that Africa’s story is no longer one of potential, it’s one of progress.

As Kenya continues to innovate and the global spotlight grows brighter, the women leading this transformation remind us that gaming in Africa isn’t just about technology or profit. It’s about people. It’s about vision. And it’s about building an industry that future generations can be proud of.

About Women in Gaming Africa

Women in Gaming Africa (WiG Africa) is a non-profit community connecting, elevating and empowering women across the continent’s gaming industry.

Through events, mentorship and advocacy, WiG Africa champions representation, leadership and inclusion while fostering a stronger, more connected African gaming ecosystem. Learn more or get involved at www.womeningamingafrica.org.

Akpabio bemoaned the absence of regulatory action against bad actors that are collaborating with fintech companies to bypass regulations in the country and deliver uncensored betting ads.

As in many emerging markets, gambling addiction rates are growing in the West African market and this advertising loophole is having an impact.

“Fintechs have turned into extensions of gambling operators and no one is saying a word,” Akpabio tells iGB.

“You can now place a bet from your Opay app as it takes you to a gambling site through the app. Opay is not licensed by regulatory authorities to do so. They are bombarding some underage people with over 15 messages to gamble per minute.”

Opay Digital Services Limited is a very popular personal finance app in Nigeria, currently serving several millions of users, due to its lightning-fast mobile payment ability. Many online operators are adopting it as a payment solution, alongside Palmpay, another mainstream choice.

Currently, these fintech brands have over 30 iGaming companies each as their client providers. However, while they are licensed and regulated by the Central Bank of Nigeria and insured by the Nigeria Deposit Insurance Corporation, they are not approved to provide or advertise betting in any way to their users.

Nigerian operators falling foul of responsible gambling?

“Last week, a bettor sent us a screenshot of over 11 messages received in just a minute, asking him to fund his betting account, prompting him to click on an ad to get a free bet,” says Akpabio.

“Another ad read, ‘If you deposit in your betting account daily, you stand a chance to win an iPhone.’ Stuff like that is horrible.

“In what country is that permissible? For something that could get extremely addictive, no one should be prompted to bet [through these instant payment apps],” he added.

“Bettors should gamble for entertainment, and with monies they can afford to lose. Not every day would a bettor want to lose money, but now the operators are pushing them into doing this as often as they can.”

Gabriel suggested that regulatory bodies could have directly or indirectly contributed to the problem as they have refused to respond to letters and calls to action from Gamble Aware.

“I have reached out to the LSLGA, the biggest regulator in Nigeria at least 22 times this year, sent them at least four letters in hard copy as well,” Akpabio says.

Gambling addiction threat in Nigeria

Last month, Nigerian state regulator LSLGA launched SafePlay, a national self-exclusion portal for problem gamblers, but Akpabio insists problem gambling rates are still on the rise, including among minors who are being targeted by these fintech apps.

“Over 60 million Nigerians are gamblers and more than 14% of that number are actually struggling with the addiction that comes with it,” he adds.  

“Today, there are a lot of minors being exposed to betting through these fintech apps. We handle cases of underage gamblers a lot, and when you try to ascertain how they got introduced to this the answer is always the same – through these apps.”

Lagos State Lottery laws for operators require gambling ads to be “ethical”, Akpabio explains, with 15%-20% of the ad’s running time to be used to raise awareness of gambling addiction.

He says the charity is not anti-gambling but is calling for better protections for players.

“Awareness about the harmful effects of gambling needs to be created. It shouldn’t be just us, or Gamble Alert [doing that work]. It really should be championed by the regulators and these operators. If not, the worst could happen.”

Was social casino the precursor to sweepstakes?

We start with a trip down memory lane, to the hazy days of 2012 when land-based operators and suppliers snapped up free-to-play casino operators.

Right to the Source is on Apple Podcasts

Zynga was one of the early pioneers of this boom thanks to Zynga Poker, and even went as far as launching a real-money offering on Facebook. Those days are long past. While it still runs apps such as Zynga Poker and a host of slot offerings, it now sits within Grand Theft Auto and NBA 2K publisher Take Two Interactive.

Are there parallels to be drawn between that social casino boom and the rise of sweepstakes today? Don’t be so sure, argues Ed Birkin.

Republic of Congo and Mauritius: Viable regulations, not enough scale?

Next there’s a handbrake turn into two of Africa’s less discussed markets. The Republic of Congo – not the Democratic Republic of Congo, Robin apologises for that error – suffers from the usual hefty tax burdens we have seen across Africa.

Mauritius, meanwhile, has a relatively well-formed market, although a country with a population of 1.26 million people offers limited scope for growth.

All this alongside the usual tangents and diversions in the latest Right to the Source!

Regulatory issues had caused Betway Africa to reduce its operating business in Nigeria, but the company is now “very excited” about the market’s potential.

This is partly down to increased clarity on regulatory issues, with a November 2024 Supreme Court ruling seemingly ending the conflict between states and the federal government on who should regulate gaming, in favour of the states.

Nigeria’s population of over 235 million is the largest in Africa and sixth largest globally, with a total addressable market of $2.6 billion.

Speaking at Super Group’s investor day last Thursday, Betway Africa CEO Laurence Michel said Nigeria is now ready for “super investment”.

“We’ve been in Nigeria for a while, we do have a profitable business there,” Michel said. “However, we have been a little bit gunshy given some of the regulations.

“We kind of are seeing that the regulatory environment has now improved. Federal versus state has now been cleaned up, and we’re ready to now give it a go.

“We think that we can make a big difference. We think that online, we have the smarts and the wherewithal to give it a full go now, which we’re going to do.”

Super Group looking to consolidate in Africa

Already in podium positions in seven of its eight markets, Betway Africa is setting its sights on future growth in the region.

Betway Africa launched in 2015 and has since enjoyed impressive growth.

This was evidenced by Super Group’s Q2 earnings, where the company announced its Africa and Middle East segment’s revenue grew 38.8% year-on-year to $229 million, accounting for 40% of the group’s total revenue.

But Betway Africa is still eyeing further expansion, beyond its existing markets of South Africa, Mozambique, Malawi, Zambia, Botswana, Tanzania, Ghana and Nigeria.

The company holds a podium position in all of those, bar Nigeria.

 “The upside is enormous,” Michel said. “When Africa thrives, so does our business.

“Africa is a massive opportunity with a total addressable market of $12 billion in locally licensed markets, over 1.5 billion people and some of the fastest-growing populations and economies in the world.

“Our deep local knowledge and expertise and operations are our competitive edge. Our portfolio currently stands in eight countries and the estimated TAM for the rest of Africa that we’re not in is a potential $2.5 billion.”

In its investor day presentation, Super Group highlighted Ethiopia, Angola, Namibia and the Ivory Coast as future prospects for expansion.

Botswana has been a particular success story for Super Group and Betway Africa. Having launched there in February 2025, Betway Africa now holds 95% market share.

“Botswana is a blockbuster for us, our best country launch ever,” Michel stated.

Casino fundamental to Betway Africa’s strategy

Betway Africa wants consistent growth across the African continent, with three main areas of focus: casino and mobile penetration, as well as new market development.

Casino is Betway Africa’s dominant vertical, generating 68% of its net revenue. Casino wagers have increased by 757% since 2022.

Betway Africa’s casino-only Jackpot City brand is currently in four African countries, and has become the seventh biggest brand in South Africa within just 16 months of launching.

The company hopes Jackpot City will soon join the podium positions in South Africa. It’s also planning to launch Jackpot City in Ghana in Q4 this year.

The battle to retain customers

Betway Africa has cemented a strong position in the market and the company is placing real emphasis on maintaining that foothold.

The company has developed a proprietary product platform called Synapse, which has improved the business’ scalability, performance and its ability to quickly deploy features.

Additionally, the company has enriched its live scoring app Betway Scores with sports content, and Michel believes value-adds such as this will help customer retention.

“We know that our business thrives when we retain customers well into the future,” Michel added. “Acquiring customers means nothing if you can’t retain them, and we do.”

Betway Africa’s customer retention was displayed in its H1 GGR, where 93% came from pre-2025 cohorts.

The group was formed by four prominent operators in the market – Betway, BetPawa, 888Africa and Sportybet – but Kesitilwe said it is actively recruiting more operators. 

Kesitilwe brings over nine years of experience at the Botswana Gambling Authority, where he acted as CEO for the last almost two years.  

Speaking to iGB on Tuesday, Kesitilwe’s core message is the African iGaming Alliance is not looking to compete with gambling regulators or independent operators across the continent.  

“We’re not competitors, the intention is to collaborate, complement and work together as a pan-African trade alliance,” Kesitilwe says.  

“We shouldn’t see ourselves as competitors when we’re complementing them. That’s why we are saying let’s harmonise issues of taxes, issues of responsible gambling through our alliance. Let’s speak with one voice.” 

Tackling problem gambling using a sector-wide approach is also a top priority for the African iGaming Alliance.

“At the forefront of what the alliance intends to do is to promote responsible gambling frameworks across Africa,” he adds.  

“This is quite important because the policymakers and governments of these markets would rather increase taxes if we have more problem gamblers.” 

Sector must encourage ‘set gambling tax rate’  

On taxation, Kesitilwe says the sector must be firm in pushing for “set tax [rates]” to avoid pressure from policymakers to contribute more to government coffers. 

“We will be the bridge between operators and regulators to achieve this,” he says.  

Africa is experiencing a huge influx of player activity across gaming, as smartphone usage increases rapidly and countries gain better internet connectivity. 

But being such a huge continent, made up of markets at varying maturity levels, Kesitilwe foresees regulatory fragmentation across Africa being a huge pain point for the growing sector.  

He is calling for a centralised body to standarise regulations between neighbouring markets. 

Standardisation needed across market-by-market regulations

“There is regulatory fragmentation in Africa where you find one operator will be applying for a licence in Nigeria, while also applying for one in Ghana [but] the regulations are quite different,” he notes.  

“We have what we call the Gambling Regulator Africa Forum (GRAF) which could help a lot with standardisation of licensing frameworks and cross-border coordination.”  

The influx of illegal and unregulated operators, which Kesitilwe says makes up to two-thirds of the industry in Africa, is seriously undermining consumer protection and responsible gambling standards, he believes.  

From a consumer perspective, he says it is difficult for players to differentiate between legal and illegal sites, but regulators must be careful which operators they tarnish with the black-market brush.  

“If we operate properly, governments won’t be losing up to $2 billion-$5 billion yearly in unpaid taxes due to the black market,” Kesitilwe adds. 

High banking costs hindering the sector 

Elsewhere, operators are grappling with extremely high costs in relation to banking and payments services.  

In August, Betway parent Super Group reported it was considering adopting crypto payments in Africa to help offset high banking costs and attract new players. 

“In the African side of our business, we have a banking issue there,” Super Group CEO Neal Menashe said at the time.  

“I think crypto and coins can make a huge difference there because banking is a really big cost in Africa, especially for us onboarding our customers and then payments across the continent.” 

Kesitilwe agrees that monopoly payments aggregators and high fees are hindering the sector’s progression in Africa.  

“There still remain some inconsistencies, and in some regions it is very expensive due to issues of monopolies around payment aggregators. Through dialogues and research, we seek to address these,” Kesitilwe tells iGB.  

Benefit of a regulatory background 

Kesitilwe is ultimately optimistic his technical know-how will benefit the African iGaming Alliance.

“I was at the helm of the gambling authority of Botswana so bring with me a wealth of regulatory experience and background,” he says of securing his position at the helm of the AIA.

“I would say I bring firsthand regulatory insight into how governments view compliance, issues of AML/CFT and responsible gambling. 

“Also I’m experienced in forming legislation, modernising regulatory frameworks, issues of credibility with regulators across Africa, so my role allows me to bridge the gap between the industry and the regulators.”

Revenue for the three-month period from May to July topped €189 million ($221.2 million), according to figures from Groupe Partouche. This surpassed the €179.5 million reported in Q3 last year and was also ahead of Q2 2025.

In France, where the group is primarily focused, Q3 revenue was 5.3% higher than the previous year at €169.1 million. The operator said this was helped by a 5.8% increase in attendance at its venues, as well as its acquisition of a new venue, Casino Partouche Cannes 50 Croisette.

Higher footfall pushed slots revenue in France up 2.6% to €130.4 million. Electronic table games revenue also climbed 11.8% to €22.6 million and non-electronic table games 20.8% to €16.6 million.

Outside France, revenue increased 5.6% to €19.9 million. Groupe Partouche put this down to a 19.0% rise in revenue from online gambling in Switzerland to €6.6 million, as well as a 63% rise in physical slot machine revenue to €10.1 million.

The operator also noted the recent opening of a new casino in Benin in West Africa. Casino Partouche Cotonou commenced operations in January this year.

Q3 consolidated turnover rises 7.3%

Groupe Partouche paid €105.2 million in levies during the quarter. This resulted in €83.7 million in net gaming revenue, a rise of 5.6%.

Turnover excluding net gaming revenue was up 11.8% to €31.5 million, while €0.7 million was deducted in fidelity programme costs. As such, this left €114.5 million in consolidated turnover for Q3, an increase of 7.3%.

Breaking this down, casinos accounted for €99.3 million of turnover, some 6.4% more than last year. Hotel turnover also climbed 4.9% to €10.0 million, with other turnover up 34.3% to €5.2 million.

Nine-month revenue tops €550.5 million at Groupe Partouche

Looking at the year-to-date, total revenue for the nine-month period to the end of Q3 was €550.5 million. This surpassed the €526.4 million reported at the same point in the previous year by 4.6%.

Net gaming revenue was also up 3.9% to €269.1 million, with consolidated turnover rising by 6.2% to €347.8 million.

Casinos drew €315.0 million of all turnover, up 6.0% year-on-year. Hotel turnover increased 2.6% to €22.7 million and other turnover was 24.% higher at €10.0 million.

Nigeria’s gaming industry is one of the most exciting frontiers on the continent: vibrant, fast-growing and fuelled by a youthful, digital-first population. It is also a market still finding its footing, balancing innovation with regulation and global ambition with local culture.

Unity Nwanze, business operations & country manager, Score7bet 

For Unity, gaming was never the plan. It quickly became a calling. 

She describes Nigeria’s market as being on a “strong upward trajectory” with local developers creating culturally relevant games, esports gaining serious momentum, and jobs being generated.

Her long-term goal is clear: She wants to empower and mentor the next generation of gaming professionals. “Building a strong talent pipeline that will grow the industry is the legacy I hope to leave behind,” she adds.

Gift Tuadibofa, executive secretary, Association of Nigerian Bookmakers 

Like many others, Gift’s journey into gaming was unexpected, but it became a platform for impact. 

She highlights trust as both the greatest challenge and the greatest opportunity. “Operators feel misunderstood, regulators feel unheard, and players often get caught in the middle. Yet within that tension lies the opportunity. We are not just hustling, we are building, often with little recognition.” 

Her ambition is to help create an industry defined by trust and responsibility. “I want to leave behind an industry that people can trust, where gaming is enjoyed responsibly and no one feels taken advantage of,” Gift concludes.

Adenike Oyebamiji, legal compliance (West Africa), Velex Advisory 

With roots in litigation, Adenike made a deliberate shift into gaming law, a decision that has defined her career. 

She points to vast opportunities in Nigeria, from localising games to the adoption of blockchain, crypto and virtual reality. Crash games, esports and digital-first innovations are already reshaping the market. 

Her vision is ambitious yet pragmatic: “I aspire to see a thriving, well-regulated gaming market that competes with the top jurisdictions globally. My vision includes eradication of illegal gambling and increased adoption of responsible gaming practices.” 

Goodness Ohanyere, product designer, Betsson (Malta) 

For Goodness, a childhood love of mobile games became the foundation for a career in product design. She quickly recognised the need for innovation in player experience. 

She sees Nigeria’s market as “messy, exciting, and full of opportunity all at once”, a young and vibrant ecosystem hungry for better experiences. Beyond her work at Betsson, she is committed to collaboration and diversity. “I want to see an African gaming industry where everyone has a seat at the table, especially women,” Goodness notes.

Nengi Akinola, head of marketing, BetKing 

Marketing leader Nengi was drawn to gaming by its unique combination of creativity, innovation and community. 

She believes Nigeria’s future growth lies in mobile-first design, culturally relevant virtual sports and the rise of esports and influencer-driven betting. Her ambition is not only commercial but cultural.

“I would like to be remembered for creating platforms, campaigns and experiences that made gaming more inclusive and culturally relevant. More importantly, I want to prove that great original case studies can come out of Africa, showing the world that our innovations do not just follow trends, they set them.,” Nengi adds.

Together these five women illustrate the energy and ambition of Nigeria’s gaming sector. They remind us that this is not simply a market with potential, but one already shaping Africa’s gaming future.

From compliance to creativity, mentorship to marketing, their leadership demonstrates that Nigeria is not only keeping pace but setting the stage for global recognition. 

About Women in Gaming Africa 

We are a community dedicated to empowering and amplifying the voices of women across the African gaming sector. Through mentorship, leadership programmes, networking, and events, WiG Africa connects women, allies, and organisations to accelerate action and create lasting impact. 

If you would like to support our mission as a member, partner, or sponsor, visit [Women in Gaming Africa] or connect directly with me, Lois Bright, founder of WiG Africa and managing director of Initiate International. Together, we can ensure African women in gaming are not only seen but celebrated. 

Check out last month’s WiG column celebrating Women’s Month in South Africa.

Revenue, referred to by Sun International as income, for the six months to 30 June amounted to ZAR6.19 billion ($353 million). This surpassed the ZAR6 billion reported by the group in H1 of last year by 3%.

Sunbet, the group’s online operation, was the segment that reported the most growth in the period — and by some margin. Revenue here jumped 70% year-on-year, whereas some land-based segments only posted single-figure increases.

Bengtsson said iGaming was the standout segment out in H1. He said the company intended to build out its offering with the aim of becoming the online market leader in South Africa. This could involve M&A activity.

“Sunbet continues to perform strongly, being one of the prominent players in a rapidly growing market,” he said. “But we have more work to do with significant opportunities to scale and invest in the business.

“Our key differentiator is our ability to enhance our offerings through the resources of the group. Our goal remains to establish Sunbet as the leading and most trusted online gaming operator in southern Africa.

“We remain open to selective acquisitions in online gaming to enhance scale, geographic diversification and access to technology.”

Online slots revenue more than doubles in H1

Going into more detail on online growth, revenue for the segment reached ZAR871 million, a 70% increase on the ZA512 million in H1 last year. However, activity across all product verticals was up from the previous year.

Total iGaming deposits were up 105% year-on-year, while first time depositors also climbed 44%. In addition, unique active players with Sunbet during H1 increased 71%.

Its urban casino segment reported a revenue dip of 1% to ZAR3.24 billion amid increasing pressure on the land-based sector. Sun International said it was re-assessing its approach to the portfolio to help ensure stability in the long run.

“Investment is being directed toward casino floor optimisation, service enhancements and product innovation as well as improved marketing to better convert footfall,” Sun International said. “This, in combination with a sharpened focus on customer acquisition and retention strategies, is expected to support income in the medium term.”

Elsewhere, resorts and hotels revenue edged up 4% to ZAR1.32 billion, while the Sun Slots business, covering physical slot machine operations, saw revenue rise just 2% to ZAR701 million.

The remaining ZAR60 million in revenue was split between activity in Chile and the rest of Africa outside Sun International’s home country, as well as from the Table Bay Hotel, which is temporarily closed while major renovation work takes place.

Discontinued operations skew profit comparison at Sun

In terms of costs, spending was higher almost across the board, with staffing and levies and VAT the main outgoings for Sun International. As a result, operating profit declined 6% year-on-year to ZAR 1.12 billion.

Sun International was able to recoup a lot of this from finance-related income, with pre-tax profit coming in at ZAR1.06 billion, some 26% more than H1 2024. After tax, net profit from continuing operations topped ZAR804 million, up 37%.

However, this made for very different reading when accounting for discontinued operations. In 2024, such operations added ZAR343 million in profit, compared to just ZAR8 million this year.

After also including fair value adjustments for listed shares, tax on this and foreign currency translation impact, bottom-line net profit was ZAR748 million. This was 15% less than 2024.

“Sun is a business with a diversified portfolio that has clear and distinct opportunities to drive growth,” Bengtsson said. “The group is well positioned for sustainable growth, supported by the optimisation of urban casinos, strong momentum in digital conversion for Sunbet, selective expansion in Sun Slots and the usual seasonal rebound in resorts and hotels.

“On an ongoing basis, we will continue to improve the infrastructure and casino offering and seek growth in selective regulated African markets for Sunbet.

“We remain focused on driving growth in free cash flow while maintaining a disciplined approach to capital allocation. This approach is central to maximising value and aims to achieve the correct balance between returns to shareholders, investment in the business and value accretive M&A.”

Bengtsson joined the operator in March after spending some time away from the industry.

In a letter dated 4 August, the GCG said this was part of a calculated move to protect Ghana’s rapidly evolving gaming industry, particularly from violations like money laundering, underage gambling and any other fraudulent activities. 

“This policy will support responsible gaming practices,” acting Gaming Commissioner Emmanuel Siisi Quainoo said in the letter.

“By linking participation to verified biometric identities, operators will be able to track player behaviour, enforce betting limits and implement exclusion frameworks for vulnerable or self-excluded individuals.” 

Under Legislative Instrument (L.I.) 2111, Ghana’s national ID card is now the only form of accepted identity for gaming online. Every licensed operator must integrate their systems directly with the National Identification Agency’s database. Alternative IDs are not accepted. 

Operators will be expected to authenticate customers through fingerprint or facial recognition. This authentication is required before any form of wager is made and once again before winnings are withdrawn. Operators have been given 30 days to fully implement the new requirements.  

Ghana GCG gives 30-day implementation order 

All licensed firms (betting shops, casinos, online platforms) have been asked to submit their integration plans to the NIA within 14 days. Full deployment of the biometrics process is required 30 days from the date of the original letter.  

Those who do not comply with the new directives run the risk of suspension or their licence not being renewed.  

In the letter to operators, the commission was clear and firm in its move. It acknowledged that while implementation could slow betting operations for a while, the move will help establish that a fair and accountable gaming industry in Ghana is non-negotiable. 

“Compliance with this directive is being actively monitored and will form part of each operator’s operational audit,” the letter added. 

“We trust that all operators will comply fully with this directive and contribute meaningfully to raising industry standards in line with international best practices and national development imperatives.” 

In a letter directed to 50/50 CEO Elisa Greaves, the agency cited multiple breaches, including failing to undertake customer due diligence and a lack of compliance oversight when onboarding customers.  

The letter, signed by FIA boss Hon. Mohammed Ali Nasser, was dated 8 August and published on the agency’s website this week. Nasser said the FIA’s investigation was part of a broader AML/CFT inspection across Liberia’s gaming sector conducted in October last year.  

Citing the major breaches identified during the FIA’s risk-based investigation, it said 50/50 Casino had failed to undertake enhanced customer due diligence measures required by section 15.3.2 of the AML/CFT Act 2021. 

Additionally, it deemed the operator’s AML/CFT policy and procedures were not risk-based. There was also a lack of compliance oversight in the customer onboarding process. Possible unusual or suspicious transactions were detected in the operator’s system. 

50/50 AML remediation plan expected by September

Following the ruling, 50/50 Casino has been ordered to pay a monetary fine for failing to meet the requirements of the AML/CFT Act of 2021. 

iGB reached out to the charged operator, but had not heard back at the time of publishing.  

In addition to the fine, 50/50 Casino has been mandated by the FIA to submit a detailed remediation plan by 1 September laying out systematic improvements. It must also provide the FIA with its planned steps to address these deficiencies by 1 November. The agency warned it would take further supervisory action if compliance is not achieved. 

Travel to Las Vegas plunged 11% in June, according to the Las Vegas Convention and Visitors Authority, providing a harbinger that customers are reconsidering a vacation to Sin City in tough economic times. But Wynn, which caters to higher-end customers, emerged from the carnage relatively unscathed.

During Wynn’s second quarter of 2025, the average daily rate for its Las Vegas hotels came in at $548, up 3% year-over-year. The metric is viewed as a key indicator for earned revenue based on occupancy levels at Strip properties. In addition, Wynn Resorts’ CEO Craig Billings appears pleased with metrics on table game and slot machines, as well as receipts at luxury restaurants at Wynn’s Vegas properties.

“We remain positive about the business in Las Vegas,” Billings said during Thursday’s Q2 earnings call. “We sit in a unique position. We’re not the best barometer of Las Vegas at large.”

Another factor stoking Billings’ optimism for Wynn’s performance in Vegas stems from booking levels in July. Last month, Wynn saw forward bookings advance as the month progressed, Billings noted. While Wynn indicated that its convention and group business looks strong heading into the fourth quarter, the company is pleased with bookings for this fall’s Formula 1 Las Vegas Grand Prix, taking place for the third year.

Wynn Q2 earnings by the numbers

Despite the strong quarter, Wynn saw profits fall sharply to $66.2 million or $0.64 per share, in comparison with $111.9 million or $0.91 a share in the same quarter in 2024. Wynn also posted adjusted earnings per share of $1.09, failing to meet analysts’ per-share expectations of $1.20.

Wynn experienced softness in Macau over the quarter, generating revenue of $343.8 million. Billings pointed to a down period from its VIP segment, which delivered lower-than-expected hold. In total, the VIP hold provided a negative impact of $13 million for the quarter.

Wynn traded at around $105 a share on Friday morning, down about 2% on the session. Wynn shares have jumped about 60% since US President Donald Trump’s tariff announcement in April. The company is also up approximately 37% over the last 12 months.

The company held Thursday’s call as reports surfaced that former NBA player Marcus Morris had charges dropped after he repaid a series of debts to two Las Vegas casinos. Morris, a 14-year NBA veteran, repaid debts totalling $250,000 to Wynn Las Vegas and the MGM Grand, CBS affiliate KLAS reported.

Over the second quarter, Wynn generated operating revenues in Las Vegas of $638.6 million, up nearly $10 million from $628.7 during the same quarter in 2024. Amid healthy demand on the casino side, Wynn saw increases in both drop and handle for the three-month period ended 30 June.

As a result, Wynn reported adjusted property EBITDA of $234.8 million for the quarter, a slight increase from $230.3 million in the year-ago quarter.

Wynn also provided an update on renovation plans for the Encore Tower in Las Vegas. Construction for the remodelling of the tower is set to begin next spring, CFO Julie Mireille Cameron-Doe said. The project, which will take about a year to complete, is estimated to cost about $330 million.

However, the strong period for Wynn’s Las Vegas segment came as profits overall fell for the company on the quarter. It is one reason why Wynn traded lower on Friday in response to the quarterly results.

Optimism for UAE project

Wynn Resorts is moving closer to the 2027 grand opening of Wynn Al Marjan Island, the first licensed casino in the United Arab Emirates. Billings indicated that construction for the project continues to “progress rapidly”, with developments on the 61st floor of a 1,000-foot tower ongoing this month.

During the quarter, Wynn continued drawing on the Al Marjan construction loan with $395 million to date, Cameron-Doe noted.

As of this week, Wynn remains the only casino to be licensed by the UAE’s General Commercial Gaming Regulatory Authority.

Various estimates have placed the total addressable market in Dubai in the range of $5 billion to $8 billion a year. Wynn Al Marjan Island will be the company’s first new project under its current management team. Consequently, the Dubai project is the company’s top priority at the moment, Billings explained.

“We’re building and opening a small city,” Billings said. “We need to be in a position to knock the cover off the ball.”

“We are actively implementing and seeking new opportunities in the crypto space,” chief executive Neal Menashe told analysts during Super Group’s Q2 earnings call on Thursday.

“These initiatives aim to position us for long-term success as alternative payment methods and digital asset frameworks become more integrated into the regulated gaming ecosystem.”

The Betway operator described Africa as vital to its strategy. In Q2, Africa and the Middle East generated almost 40% of the NYSE-listed group’s total revenue, with the market rising 38.8% year-on-year to $229 million.

Menashe stressed the importance of technology investment across the region to support its rapid growth. As part of this effort, Menashe said the operator was looking to introduce crypto payments in more African markets, to offset high banking costs.

How is crypto boosting Super Group’s performance in Africa?

African businesses often face higher processing fees than other regions. Settlement delays also add hidden costs.

“In the African side of our business, we have a banking issue there,” Menashe said. “I think crypto and coins can make a huge difference there because, remember, banking is a really big cost in Africa, especially for us onboarding our customers and then payments across the continent. So, for us, I think crypto then also brings a different customer.”

He noted regulation across the nation supported these crypto ambitions. Menashe also added that crypto expansion could attract new customers.

“It’s a different kind of customer, again, a different genre, in the same way that in the casinos, we have different genres of casino. Crypto is a different kind of customer. So that helps us, and that’s what we are actively looking at,” he told analysts.

“That’s our great long-term play, and I think aligns with our strategy and especially on the processing side, if we can do something clever there. We’ve got some ideas on that effectively that will bring pure profit to the bottom line.”

Super Group said its technology focus, crypto expansion and Jackpot City rollout will support long-term success in Africa.

It expects alternative payment methods and digital assets to integrate further into regulated gaming ecosystems.

While expanding in Africa, Super Group recently announced it will be exiting the US due to revenue costs. North America, including Canada, posted a record quarter with $199 million in Q2 revenue. The US exit has no public date but is expected to cost a one-off amount of $30–$40 million.

Menashe said during the call that the group was looking for a buyer for its US player database.

Super Group raised guidance following strong Q2

Super Group’s revenue increased by 30% year-on-year to $579.4 million during Q2. 

It said in an earnings update on Thursday that growth was powered by increased activity in Africa, Europe and North America markets and had lead to record quarterly revenue for Super Group.

However, the figures were partially offset by declines across the LatAm, Middle East and Asia-Pacific markets.

Monthly active customers for Super Group increased by 21% to 5.5 million, compared to 4.5 million in Q2 2024, marking the fifth consecutive quarter of monthly active customer growth.

Profit before tax, meanwhile, amounted to $38.8 million.

Curated by Lois Bright, founder of Women in Gaming Africa, this column will spotlight the people and stories powering industry growth in Africa; from regulators and entrepreneurs to marketers, developers and rising talent.

Based in Cape Town, Lois brings years of experience in iGaming and recruitment across the continent, along with a deep passion for building inclusive, community-led spaces within the industry. 

To mark the start of this partnership, we’re celebrating five standout women in South Africa’s gaming space – each representing a different corner of the industry. Their stories are personal, powerful and rooted in purpose.

Through their reflections, we explore what Women’s Month means, what legacy they hope to leave behind and how Africa is rising — not only as a market but as a force in the global gaming narrative. 

The voices behind the movement 

Jodi Scholtz 

Commissioner, National Lotteries Commission 

As commissioner of South Africa’s National Lotteries Commission, Jodi Scholtz holds one of the country’s most influential regulatory positions and brings to it a clear vision of progress, equity and structural change. She sees Women’s Month as a time for recommitment — to create an inclusive industry that works not just for women today, but for future generations. 

Jodi’s proudest milestones include launching the NLC’s digital modernisation programme, securing an unqualified audit opinion, and strengthening the commission’s mandate to support South African communities. She is also proud to lead with what she calls “an African lens,” shaped by a Cape Flats upbringing rooted in empathy and collective advancement. 

“My legacy should reflect the values of ethical leadership, empowerment, joy and sustainable development. And it doesn’t hurt to have some fun while working!” 

Thandokazi Mkiya 

CRM Campaign Manager, SunBet 

With over 12 years in iGaming, Thandokazi Mkiya has made her mark in retention marketing, promotions, and customer engagement. Her rise through the ranks is a testament to consistency, adaptability and resilience — qualities she believes are essential for women to succeed in this industry. 

For Thandokazi, Women’s Month is about honouring progress while staying focused on the road ahead. She’s particularly passionate about seeing more African women in strategic and creative leadership roles.

“Gaming is changing — and African women are not waiting for permission to be part of it.”

Looking back, she’d tell her younger self: “Trust your vision, take up space and know that even small steps forward count. Your consistency is your superpower.” 

Judith Benetello 

Marketing & Strategy, InsaGames 

Judith Benetello brings soul and strategy to her work in marketing and brand building. She sees Women’s Month as a time to pause and honour the complex roles women play, not only in business, but in families, communities and personal lives. “It’s about visibility — not just for where we’ve arrived, but for how we got here.” 

She finds the most joy in mentorship – recently guiding a young intern who reminded her that growth is contagious when nurtured intentionally. “Seeing another woman thrive because you made space for her … that’s legacy.” 

Judith is inspired by the momentum in Africa’s gaming industry, especially among women who are reshaping it with ethics, creativity and community at the centre. “There’s a very African kind of leadership rising, and it’s powerful to witness.” 

Prakashnie Govender 

General Manager, Kingdomslots (Sun International) 

A chartered accountant by training and a changemaker by nature, Prakashnie Govender has had an extraordinary career spanning gaming, conservation and executive leadership. She proudly wears many hats: GM, mentor, mother, board chair and advocate for youth development. 

Women’s Month, to her, is a time to reflect on how far we’ve come and where the glass ceilings still need to be shattered. “There are so many women running sites and operations across KZN, it’s time their stories are told too.” 

She’s passionate about shifting public perceptions of gaming — showing its role in job creation, education funding, and social development. “We’re not just a gaming business – we are an ecosystem that uplifts communities.” 

Boipelo Lencwe 

Technical Compliance Manager, BMM Testlabs SA 

Boipelo Lencwe’s 25-year career has taken her from a casino floor host in Johannesburg to a senior technical leader helping shape regulation across the continent. She was one of the first female technical shift managers in South Africa, breaking barriers in a male-dominated space and proving women can lead in tech, too. 

Now at BMM Testlabs, Boipelo works across jurisdictions to raise compliance standards, protect players and educate regulators. “My mission is to ensure integrity is non-negotiable, and that young women see this industry as a place where they belong.” 

She is particularly passionate about creating access points for women, through internships, mentorship and technical upskilling. “It’s not just about representation. It’s about being resourced, respected, and ready.” 

These five women offer just a glimpse into the power, passion, and progress unfolding in Africa’s gaming industry. As markets evolve and new opportunities emerge, the global gaming community would do well to look toward the continent; not as a developing market, but as a partner, innovator, and growing influence. 

At Women in Gaming Africa, we’re committed to building visibility, representation, and opportunity for women across the continent and this monthly column is just one part of that mission. 

Want to support women driving Africa’s gaming future? 
Partner with us, sponsor our mission, or get involved: 
  www.womeningamingafrica.org |  hello@womeningamingafrica.org

This monthly column is curated by Lois Bright, founder of Women in Gaming Africa 

Kenya’s Gambling Control Bill (National Assembly Bill No 70 of 2023) set the market’s minimum gambling age at 18, but under new proposed rules individuals under the age of 21 would no longer be legally permitted to make a parimutuel wager.

Also discussed in parliament was a minimum betting amount of Ksh50 ($0.39) to dissuade youths from excessive gambling activities.

“We discourage young people from engaging in [betting], because getting Ksh50 is a bit [difficult],” member for Dagoretti North constituency Beatrice Elachi said during the parliamentary proceedings.

“It is like these people are so powerful that they can convince the government to pass a bill that can be shaped into what they want. What we are doing to our young people is wrong,” Elachi noted.

This latest move comes following the ongoing proposal from the National Assembly to deliberate on provisions of the Gambling Control Bill.

Should the latest bill sail through and get the assent of the president, operators that fail to adhere to the new gambling age restriction will face severe sanctions.

Locals react to Kenya gambling age limit change

Some Kenyans are unhappy about the incoming restrictions, believing 18-year-olds should be allowed to gamble as they are adults.

“Adults should be able to have free will when it comes to gambling. If the government believes 18-year-olds are mature enough to go to war, then they are surely mature enough to spend their money on sports if they so wish,” a trader at Gikomba market Machakos Nairobi told iGB.

Another bettor said: “If 18-year-olds can vote and serve in the military, they should also be allowed to wager, as it’s a matter of personal freedom and consistency with other adult responsibilities. Why can’t they focus on fixing the nation first?”

These are just a few of the reactions that have raised questions about the move’s feasibility.

Although the timeline for the bill’s progression is uncertain, the House of Assembly remains committed to its proposal.

Latest list of operators released by BCLB

Elsewhere, Kenya’s Betting Control and Licensing Board (BCLB) on 29 July released an official list of all iGaming operators that have been approved for licensing in the market for the 2025-26 financial year.

Several prominent brands, including Betika, Odibets, Betpawa, Flamingobets, Kwikbet, My Lotto/Tatuatatu, made the cut. A total of 99 firms were listed.

Part of the regulator’s campaign is ensuring the country’s gaming landscape continues to conform to the responsible gambling regulations being put in place.

“Further to our letter REF: BCLB 15/1/VOL.1 (65) dated 30 June 2025, this is to confirm that the attached list of Gaming Companies have been approved for licensing and therefore have been approved to continue with their operations after the expiry of the 30 days extension,” said the report signed by the board’s chairperson, Dr Jane Makau.

The full list can be found here.

Kenya’s BCLB is preparing a major shakeup of current regulations, including increasing licensing fees for operators. This follows a recent gambling ad ban in the country.

The bilateral meeting held in Gaborone sought to enhance collaboration across various regulatory policies, including responsible gambling.

Present at the meeting were Botswana gambling authority board member Gaoakanye Tapeng, Chief Executive Officer Peter Emolemo Kesitilwe and various other executives. Representing Namibia’s regulator were Chairperson Wycliff Shililifa and CEO Dr John Shimaneni.

The two parties said the collaboration marked a significant step forward in cross-border regulatory alignment, cementing Botswana and Namibia positions as leaders in responsible gaming governance in Africa.

What dividends will the Bostwana Namibia gambling MoU yield?

The Botswana Namibia gambling MoU will pave the way for several initiatives intended to enhance gaming regulation’s effectiveness across both jurisdictions.

Thus, both parties will initiate training programmes for staff members. This will enable the two parties to establish best practices and discuss player protection improvements.

“I believe this is a highly progressive step. With this, a more stable and predictable regulatory environment will be created, which in turn will significantly enhance investment opportunities and foster sustainable gaming growth for these countries,” legal practitioner Allan Mzungu of MMS Advocates, a corporate and commercial law firm in Africa, tells iGB.

“And this approach will not only attract more investors but also ensure that the industry operates with integrity and transparency.”

The relationship between the two markets dates back to last December as PstBet, a leading Namibian sports betting company, expanded into Botswana to establish the first licensed betting operator in the country.

Other initiatives being planned

During the meeting, regulators from both Botswana and Namibia reiterated their strong commitment to responsible gambling. This partnership will help facilitate joint research into the social impact of gambling. Data-driven policies to benefit players, operators and the industry more generally were a focus.

With a better understanding of the social effects of gaming, regulators will aim to craft effective measures to combat problem gambling and illicit gaming activities.

The BCLB’s licensing shakeup is aimed at significantly raising the standards for licensed market participation.

Kenya’s BCLB previously clamped down on the use of influencers, celebrities and media outlets in promoting gambling within the state, ruling that such practices went against the Code of Conduct for Media Practices, 2025.

That was after the regulator moved quickly in the early months of the year to shut down more than 50 betting firms that had long thrived on illegal gambling operations.

Under the BCLB’s licensing shakeup, even stricter rules and regulations are planned. The BCLB, which operates under the office of the presidency, is set to introduce a licensing fee hike for all gambling operators, a move which would require substantial capital investment.

Currently, iGaming operators typically pay just over Ksh10,000 ($77) for an application and around Ksh400,000 to a million in licensing fees per annum, but they will now be made to pay significantly higher than those sums.

Newly proposed licensing fees could run into millions

A parliamentary debate on Tuesday addressed the licensing fee hike, which will see operators required to pay the below amounts, depending on the type of licence required:

★Betting shops and online lotteries: a minimum of Ksh50 million ($387,000)

★Online operators: a minimum of Ksh200 million ($1.5 million)

★Land-based casinos: up to Ksh5 billion ($38.7 million)

“For a small-scale betting shop (muaka), we are proposing a minimum capital investment of Ksh50 million. For public gaming operators such as casinos, the proposal is to raise the requirement to Sh5 billion,” BCLB Director Peter Mbugi recently told the National Assembly’s Finance and Planning Committee.

Stricter identity checks for players and centralised monitoring of operators will also be introduced by the regulator as part of these developments.

In the bid to ensure responsible betting and put an end to underage gambling, all new online bettors will be required to submit a selfie photo showing their national IDs.

Stakeholders will then brace themselves for tighter monitoring efforts, aimed at improving transparency and compliance within the Kenya iGaming market. Tech tools will be introduced for real-time monitoring of all iGaming activities, as well as to prevent fraud.

Will small operators survive BCLB’s licensing fee hike?

There is very little to suggest firms with less capital will survive the heat, and stakeholders have suggested this move might trigger more unregulated market activities.

“This will only give way to a negative outcome. If operators are having to shell out [much more in licensing fees] the whole thing will only open the floodgates for the black market”, Job Weku, a Kenyan iGaming analyst and B2B business strategist, tells iGB.

“Those locked out due to this punitive capital requirements need to just invest in URL mirroring and save on taxes as well as operational expenses.”

Improved gambling bill awaiting President’s approval

However, David Sarinke at well-respected legal firm McKay Advocates tells iGB the BCLB is in tune with the regulatory framework passed a couple of years ago in the market.

“We have reviewed the mediated version of the Gambling Control Bill 2023 and can confirm that it proposes a significantly more structured framework for the licensing and regulation of gambling activities in Kenya”, Sarinke notes.

“And some notable provisions with potential implications for operators include a tailored licensing framework, a public lottery licence, extended licence validity (from 12 to 36 months), local ownership requirements, capital adequacy requirements, mandatory security deposits and a minimum stake threshold.”

“While this bill is reflecting a clear policy shift aimed at tightening regulatory control, we understand it can bring both opportunities and challenges,” David adds.

The mediated bill has passed through both Houses of Parliament and will be forwarded to the president for assent once approved. It represents significant legislative momentum, but the precise timing for enactment remains unclear.

The bill, which has sought to establish a national regulatory framework for all online and remote gaming in the country, has already cleared its third reading.

This is not the first time the body has had a bill like this invalidated by the court. Thus, it has been deemed “ultra vires”, meaning beyond one’s legal power or authority. The move aimed to repeal a law that has already been nullified.

“The proposed Central Gaming Bill 2025 is nothing more than a repackaged version of the now- nullified National Lottery Act 2005. Both acts seek to establish federal control over the same subject matter, games of chance through licensing, regulation and enforcement by a federal commission,” a statement from the FSGRN read.

The FSGRN is a constitutional authority made up of 24 state governments in Nigeria to regulate gaming.

The Supreme Court ruled against the country’s previous national gambling legislation, the National Lottery Act. It invalidated the act’s claim to regulate gaming and lotteries across Nigeria.

It instead determined that state legislative assemblies should regulate lottery and games of chance instead of the federal government of Nigeria.

In December, the FSGRN welcomed the Supreme Court’s decision.

What is covered in the Central Gaming Bill?

The Central Gaming Bill seeks to establish a national regulatory framework for all online and remote gaming activities, including provisions for conducting gambling in the Federal Capital Territory (FCT), and generating iGaming revenue both nationwide and across state borders.

Key components of the bill include a regulatory framework for controlling all iGaming activities, including retail, lotteries and online. It also calls for a National Gaming Commission which would retain licensing powers.

A key argument advanced by proponents of the Central Gaming Bill is that the gaming industry has moved online and therefore requires a centralised regulatory framework.

Bill already faced major backlash

In a country with a written constitution where the rule of law prevails, legislative actions that ignore explicit rulings of the Supreme Court are unlawful and risk undermining constitutional principles.

With that, a number of notable agencies clearly opposed to it have argued that this should have been taken into consideration before the bill’s reintroduction.

“We are confident that the leadership of the current National Assembly is very much aware of their statutory obligation to uphold the provisions of the Constitution of the Federal Republic of Nigeria, 1999,” chartered tax professional, Chief Dr Francis Ubani told The Nigerian Post.

“We therefore, urge and implore the National Assembly, through the House of Representatives, not to go ahead with passing into law the Central Gaming Bill 2025, as doing so would be in total contravention of the 1999 constitution, and would be void and of no effect whatsoever. Finally, do not reintroduce the nullified National Lottery Act, through the back door, by change of nomenclature.”

Despite these setbacks and delays to formal regulation, key operators in the country such as Bet9ja, 1xbet, BetKing, NairaBet and Betway have experienced significant growth in Nigeria.

This is thanks to increased mobile accessibility and fintech advancements. Nigeria’s iGaming sector is predicted to grow by at least 16% and reach approximately $500 million in revenue by the end of 2025.

The nation’s police force, and the public, frowned upon the act. In response, national police Commissioner Paul Nyathi made the new declaration at the inaugural H-Metro National Forum On Responsible Betting in Harare on 12 July.

“Police officers in uniform must not enter betting shops or casinos to gamble. This does not portray the police in a good light, and such behaviour is strongly discouraged. [Therefore] anyone caught doing so will face disciplinary action,” Nyathi said at the conference.

ZRP faced with a new directive

The conference brought together respected gambling stakeholders, Lotteries and Gaming Board members and various government entities with the aim of progressing responsible gambling actions in the market,

Nyathi said officers discovered to be gambling while in uniform would face grave punishments.

The Zimbabwe police betting shop ban is part of a wider push to ensure professionalism and that respect for law enforcement agencies is upheld, the commissioner said.

The identities of the officers s involved in the incident were not revealed, but images shared on social media showed two of them huddled over the counter in a betting shop.

It remains to be seen whether officers that participate in gambling will adhere to this directive, but the warning could not be clearer.

What could have influenced Zimbabwe police to gamble publically?

Zimbabwe’s ongoing economic hardship has been on the rise in recent years. This could have influenced law enforcement agents to turn to gambling.

As per the World Bank’s 2024 annual report, data has shown the El Niño event in recent years (2023-24) and the late rains in 2024-25 could have increased the poverty rate in Zimbabwe.

With around 70% of the country’s population relying on agriculture for their livelihoods, these weather events clearly posed a huge challenge.

This week Ed is testing formats, so from last week’s random country generator Peru and Niger are up for discussion.

Is Peru Latin America’s hidden gambling gem?

Peru online gambling regulation passed last year, and while Brazil stole the spotlight, it’s a stable market and even the introduction of a 1% tax on turnover was shifted to GGR. However there’s a big presence from local brands, so can international operators carve out share without M&A activity?

The Niger gambling market, after some hasty research, is reasonably sized but suffers from the same drawbacks that hold back some other African countries’ gaming markets, namely a lottery monopoly.

Right to the Source on Apple Podcasts

Is there any hope for legal casinos in Brazil? 

And last week Brazil’s omnibus bill to legalise a range of land-based gaming products, namely jogo de bicho, bingo halls and casinos failed to progress to a Senate vote. Does that mean the dream of regulated casino gambling in Brazil is dead? 

Our special guest – you’ll have to listen to find out who it is – says in its current form, yes. Legislators supporting Brazil casino legalisation are now likely to apply what worked for sports betting, namely splitting out the casino proposal from the omnibus bill. But will that push things forward any time soon? Don’t hold your breath. 

This week: World Pool bets on Royal Ascot were up 10%, controversy continues to dog South Africa’s lottery licence award and Romania has changed its advertising rules.

World Pool up at Royal Ascot

World Pool bet types for Royal Ascot 2025 were up 10% from 2024, rising to HK$1.57 billion ($200 million) for the five days.

Including a record-high on Wednesday of HK$330.7m, the most bet on the second day of the meeting since the inaugural World Pool meeting at Royal Ascot in 2019, turnover was up year-on-year every day.

Turnover at the 2022 meeting remains the highest at HK$1.61 billion, approximately 2% higher than this year’s level. In 2025, punters from across the globe were able to access commingled pools on the event for the seventh consecutive season.

Sam Nati, head of commingling at the HKJC, said: “In terms of quality, quantity and competitiveness, the fields were fantastic all week. There was also some good international representation, both in the horses running and the jockeys taking part, so it was a good mix of key factors for both local and overseas punters.”

Tycoon defends SA lottery link

South African tycoon Moses Tembe has dismissed accusations that a consortium he headed was awarded the country’s next National Lottery licence contract due to political influence.

Concerns have been raised about Sizekhaya Holdings’ links to South African Deputy President Paul Mashatile. Bellamont Gaming, a company owned by Tembe and Mashatile’s wife’s sister, Khumo Bogatsu, has shares in Sizekhaya.

However, Tembe told Times Live that Bellamont has a minimal share of Sizekhaya stock.

Tembe added: “We have indicated previously that Sizekhaya [Holdings] won the right to operate the fourth national lottery licence because of the strength of our bid, the deep knowledge of gaming that we bring to the table, our pledge to propel the lottery to new heights by generating more money for the government, for good causes and for players.”

Romania bans celebs from gambling ads

Romania’s National Audiovisual Council (CNA) has banned celebrities from appearing in gambling promotions.

CNA members unanimously approved the ban during a public session on Thursday.

They amended the Audiovisual Regulatory Code to prohibit celebrity appearances in gambling ads on TV, radio and online platforms.

Romanian outlet PaginaDeMedia published the updated wording of the regulation. The new rule states: “It is prohibited to broadcast gambling ads featuring public, cultural, scientific, or sports personalities.”

Gambling ads previously featured celebrities such as footballers Florin Răducioiu and Ilie Dumitrescu and singers Antonia and Alex Velea.

Kaizen to sponsor CONMEBOL Copa América Femenina 2025

Kaizen Gaming has been named as official sponsor of the CONMEBOL Copa América Femenina 2025.

Hosted in Ecuador in July and August, the tournament will bring together South America’s 10 women’s football teams.

The sponsorship of CONMEBOL Copa América Femenina 2025 is part of Betano and CONMEBOL’s broader partnership, which started with the CONMEBOL Copa América 2024 and extends through 2028.

Alejandro Domínguez, president of CONMEBOL, said: “Having Betano’s support encourages us to continue raising the level of the tournament and to provide more opportunities for our athletes to shine on the field and keep leaving their mark both on and off the pitch.”

F1 and Allwyn launch community award

Formula 1 and lottery operator Allwyn have announced the launch of the F1 Allwyn Global Community Award.

The programme will spotlight community-focused initiatives across the world of Formula 1 to showcase their positive impact on society. As well as global recognition, winning initiatives will each receive a €100,000 donation from Allwyn to further transform communities around the world.

Winners must demonstrate a meaningful contribution to society away from the racetrack, which could include advancements in education, culture, well-being or sustainability. For each race, the local promoter will identify Formula 1-linked community initiatives run by teams, partners and media that have had an impact in their country.

Stefano Domenicali, president and chief executive of Formula 1, said: “We will give the local initiatives that go the extra mile for making their communities and make the world a better place the recognition and global platform they deserve.”

They talk through the continent’s biggest markets and the growth prospects for gambling in South Africa, the rising popularity of virtual sports in Nigeria and why gambling tax in Kenya limits the market.

Listen on Apple Podcasts

Ultimately it’s a look at what holds the African gaming market back. Many in the industry see it as a sleeping giant, but the prevalence of withholding taxes in particular is limiting growth.

Prefer Amazon Music? We’re there too!

Trade and Industry Minister Parks Tau named Siyakhaya Holdings as the new operator on Wednesday 28 May. The licence covers the National Lottery and Sports Pools. The announcement arrived just days before the current licence, held by Ithuba Holdings, expires on 1 June.

Eight companies competed for the R180 billion ($10.0bn/€8.9bn/£7.5bn) contract.

Litigation has already commenced over this fourth National Lottery and Sports Pools licence award. Critics have also questioned Siyakhaya’s links to businessman Sandile Zungu, a prominent member of the governing African National Congress (ANC).

Gauteng-based Sizekhaya is led by a consortium that includes tycoon Moses Tembe and Zungu. Sizekhaya is part-owned by betting company, Goldrush Holdings. 

Court to decide on temporary South Africa National Lottery licence

The immediate concern is the state of lottery operations from 1 June, when Ithuba’s licence expires.

Minister Tau tried to issue a one-year temporary licence. However, Wina Njalo, one of the unsuccessful bidders, challenged this in court. The Gauteng High Court ruled the temporary licence period could not exceed five months.

Ithuba is considered the only business that can operate the South Africa National Lottery at such short notice. However, the group has already said that a licence period restricted to just five months would be financially unfeasible.

The DTIC and the National Lotteries Commission (NLC) plan to contest the ruling in court today, Thursday 29 May. They fear a gap in operations until Siyakhaya can begin.

NLC chairperson Barney Pityana warned of serious consequences in an affidavit. “If the court does not come to its assistance and extend the suspension period, there will be no lottery operations for at least nine months, from 1 June 2025,” he wrote.

He added that the suspension could cost R1.8 billion in good cause funding.

In the initial hearing, Judge Sulet Potterill ruled that the temporary licence favoured Ithuba and was therefore unconstitutional.

Wina Njalo’s complaint included the minister’s failure to explain delays. The judge agreed. She said the minister had not fulfilled his constitutional duty to provide reasons.

Tau responded that he intended to announce the new provider by 28 May.

Who are Sizekhaya Holdings?

Sizekhaya says it is setting up its structures and putting in place the necessary infrastructure after its confirmation.

It explained that a variety of shareholders and a management team with business, gaming, and operational experience form its consortium. JSE-listed Goldrush owns 50% of Sizekhaya, while Bellamont Gaming and Zungu hold additional shares.

Sizekhaya also confirmed that it will use Chinese supplier Genlot as its technology partner.

Tembe said: “South Africa has hit the jackpot with Sizekhaya. Our vast experience in gaming in the country along with the brains trust we have assembled driven by the collective vision of creating a more enhanced national lottery for good causes, will grow the lottery so more good causes benefit.

“Our choice of technical partner was deliberate as well as we were determined to minimise the amount of foreign exchange that leaves the country.”

Ithuba and political rivals oppose decision

Ithuba, which has run the National Lottery since 2015, may take legal action following the decision.

“We are expectably deeply disappointed by the recent decision made by the Minister of DTIC and the NLC. We believe that this decision undermines the principles of localisation and inclusive economic growth set out in the Request for Proposal,” Ithuba said in a statement.

“Our game portfolio is locally developed, our operational model prioritises economic inclusion, and our reach extends across urban and rural communities, ensuring accessibility for all South Africans from day one.”

The decision disregards the efforts to build a homegrown lottery ecosystem that supports small businesses and job creation and channels maximum revenue to good causes, Ithuba added.

The ANC’s political rivals have also slammed the decision, alleging cronyism.

The Economic Freedom Fighters (EFF) said in a statement: “Instead of ensuring fairness, transparency and compliance with the Lotteries Act, [Minister Tau] has compromised a public asset, by awarding a contract worth over R180 billion over the next eight years to benefit the ANC’s cronies in a clear case of state capture.”

Minister defends process

Trade and Industry Minister Tau responded to the widespread criticism in a statement that announced Siyakhaya as the successful bid.

“It is most unfortunate that this matter has already become the subject of litigation and a judgment of the High Court,” Tau said.

“I am seeking legal advice with a view to appealing against the judgment’s findings and orders, and I reserve all my rights concerning this judgment. With due respect to the Honourable High Court, my announcement is the result of my undertaking made to the bidders and the Court before the hearing of the application.

“I look forward to the growth of the lottery and the sports pools under the stewardship of Sizekhaya and to a mutually beneficial and healthy working relationship between the DTIC, the NLC and Sizekhaya. I also look forward to increased contributions to the many needy beneficiaries of the National Lottery Distribution Trust Fund.”

The General Commercial Gaming Regulatory Authority (GCGRA) approved the two international gaming technology groups to offer their services to the Middle East state’s nascent lottery market. This takes the total number of suppliers licensed by the authority to nine.

Previously approved vendors include slot machine manufacturers and payment providers, among them IGT Global Services, Novomatic and Aristocrat Technologies Europe.

The GCGRA was established by the UAE in 2023 to establish the market’s regulatory framework for gambling, national lottery and commercial gaming. In June last year it awarded the nation’s only lottery licence to The Game LLC. Later in 2024, the GCGRA awarded Wynn Resorts the UAE’s first commercial land-based casino gaming licence.

Scientific Games piqued by UAE opportunity

Already present in 50 nations, Scientific Games welcomed the opportunity to offer its lottery products and services in the UAE market.

“We are extremely pleased that Scientific Games has been authorised as a lottery supplier in the UAE with this licence,” said Michael Conforti, president of international business for Scientific Games.

“We look forward to putting our more than 50 years of expertise to work in the UAE to offer high-performing products that will responsibly help drive revenue for lottery programs supporting local communities and projects of national importance.”

Random State hails ‘major milestone’

Sweden-headquartered Random State, which offers real-money eInstant games and bespoke digital-lottery products, sees strong opportunities in the UAE.

“The UAE has the potential to become one of the world’s most dynamic digital-lottery markets,” said Adam Fonsica, co-founder and chief operating officer at Random State. “Earning the GCGRA’s trust is a major milestone for us. We’re eager to introduce our gamified eInstants and custom draw games to local players later this year.”

UAE Lottery launch unclear

Licensee The Game LLC operates as the UAE Lottery, offering a range of lottery games and other products. Tickets went on sale in November 2024, ahead of its inaugural draw on 14 December.

In the run-up to that milestone the GCGRA issued a warning clarifying that the UAE Lottery was the only legal lottery available across the country. Two duty-free lotteries – Big Ticket in Abu Dhabi International Airport and Dubai Duty Free – can run draws for travellers.

Last year, the GCGRA said the UAE Lottery “caters to players’ variety of interests and financial preferences”.

The GCGRA describes The Game as “a commercial gaming operator specialising in game development, lottery operations and gaming-related content”. It is a subsidiary of Momentum, an Abu Dhabi-based business that claims expertise in mobile games development and publishing, virtual reality, iGaming and esports management.

Land-based casino gaming licensee Wynn Resorts is already building its Wynn Al Marjan Island Resort. The Ras Al Khaimah (RAK) project is a joint venture between affiliates of Wynn Resorts, Marjan and RAK Hospitality Holding.

Wynn expects to open its multi-billion-dollar project in Q1 2027. Al Marjan Island is 15 minutes from Ras Al Khaimah International Airport and 45 minutes from Dubai International Airport. It is about 65 miles from Dubai, the UAE’s largest city.

It will have a gaming floor, 1,000+ hotel rooms, convention facilities, shopping and restaurants.

My journey into the position I am in now, like many people in the iGaming industry, was not conventional. I finished my degree in Industrial Chemistry and wanted to work in a brewery. However, after a brief stint with a telecom company, I worked as a customer service consultant for a sports betting company.

From there, everything accelerated. I joined Betwinner as a team lead in 2020 and quickly rose through the ranks and, in April 2021, I was promoted to director, becoming the youngest director in Nigeria’s iGaming industry.

Finding myself in this position, especially as a female, was a daunting task, but it was one I have been able to rise to. Now, I feel a profound responsibility to pay it forward; through my role, I mentor young women eager to carve their paths in this exciting industry and help shape the future of the iGaming sector in Nigeria.

While there have been notable advancements, significant disparities still exist in females’ roles in the iGaming sector, especially in Africa. Through my mentorship, I aim to address this imbalance, changing the direction of travel and opening doors for young and powerful women in the industry.

Continued development and iGaming in Africa

On a personal level, I have always been a strong advocate for lifelong learning and self-development. I attained my Master of Business Administration from Nexford University in 2023 and continue to find new and exciting ways to grow professionally.

As I have mentioned, before iGaming, my education was in chemistry. This might not be the conventional route into the world of iGaming, but I want to highlight to other women how diverse and dynamic the iGaming world is. No matter their unique talents and backgrounds, there is a place for them here.

My vision extends beyond just fostering a culture of innovation and empowerment; I am equally committed to nurturing an environment that focuses on ethical decision-making and industry compliance. For Africa to flourish, we must cultivate an iGaming landscape that prioritises these values, putting the safety and well-being of our players first.

During my time at Betwinners, I have played a pivotal role in guiding the company towards these goals, creating a supportive atmosphere where our staff can thrive. I have overseen diverse initiatives, from business development and marketing to strategic growth efforts, all while solidifying our position as a leading platform in the burgeoning Nigerian market.

An emerging power

The African sports betting market has the potential to be one of the most important in the world, and I want to be at the forefront of that. The development of new technologies, such as AI, helps us to personalise the sports betting experience in ways that have never been done before and we can play a major role in these developments.

I believe Nigeria has a pivotal role to play in this. My country has a strong sporting heritage and is one of the fastest-growing economies on the continent. The possibilities here are endless and I am convinced that we can make a profound impact on the global stage.

To nurture these developments, we must promote the best young minds in the country and across the continent and empower women with the skills and support they need to succeed. Women in Africa are uniquely positioned to influence the future trajectory of the sports betting and iGaming sectors. By actively mentoring them, I can make a meaningful contribution to the industry’s evolution while also helping to drive broader societal changes across the continent.

As a mentor, I proudly serve as an ambassador for Women in Gaming Africa, a game-changing initiative spearheaded by the ever-brilliant Lois Bright. This organisation has helped to create a vibrant network of dynamic and innovative female thinkers from across the continent, bringing them together to exchange their collective wisdom and insights.

Through this platform and my personal mentorships, I want to open doors and opportunities for women in Africa. My mission is to remove the barriers that stand in their way, brick by brick, and inspire these incredibly talented young women to reach their fullest potential in this exciting industry.

Celebrating perspectives

A major lesson I have learned while in the iGaming industry is that it champions individual voices and perspectives. It is an industry where you can take risks, push the boundaries and aim high. Each individual perspective is valuable and, as the industry continues to grow, it enables you to grow with it.

In so many male-dominated spaces, female voices are not given the opportunity to be heard. In iGaming, a network of exceptional women works daily to change that. We celebrate one another’s victories, share experiences and open doors for one another and I could not be prouder to be a part of this growing movement.

Menashe was speaking on a post-Q1 analysts call after Super Group published its quarterly results last week. Headline figures included group revenue rising 25% to $517 million, while EBITDA climbed 46.6% to $107 million and net profit 105.4% to $76 million.

However, the stand-out revelation from Q1 was that Africa and Middle East overtook North America as the group’s largest revenue market. Middle East revenue was actually lower year-on-year, with Africa driving growth within this reporting region.

Africa and Middle East drew 39% of all Q1 group revenue, up from 37% last year. In contrast, North America’s revenue share dipped from 37% to 35%, after the company disposed of part of its US business in 2024.

Efficiency is the answer to competing in Africa

Such has been Super Group’s swift success in Africa that it has a strong presence within the markets where it is active. While CEO Neal Menashe acknowledges this growth will continue to attract other operators and offer some competition, he is confident on the group’s position

“I think there is always new entrants coming in all the markets we operate in,” he said.

“But again, in the markets where we have got podium positions, you probably have to think of us like what FanDuel and DraftKings are to the US, especially from the sports side of things, right. It’s bringing the customers and it’s about brand resonance, and you have got this customer base that you are building on.”

On competition, the CEO said efficiency was the answer. “It is not about driving down costs, but becoming efficient with the costs that you are utilising, whether it’s in CRM, risk management, or processing fees.

“The big one is how do you become efficient on your funnel of marketing. If you are open to actors or converting at a certain percentage in each market, how do you make that better, what new products can we do, how do we scale?” Menashe added.

‘Africa is super profitable’

While Super Group did not publish a full breakdown of its performance in each country in Africa, Menashe said all its markets on the continent are currently profitable. As such, he said it is important for the group to maintain this momentum and open in more countries.

“The secret for Africa is that every bit of extra revenue is super, super, super profitable,” he said. “If we grow revenue by 30% or 40%, you could almost double your profits there. This is the beautiful part of it.

“So, what we must do is maintain where we are and grow and open the new markets. For us, it’s not only about the revenue, but also the profitable revenue. Extra revenue is really flying down to the bottom line, so, we have to keep enhancing the product and getting all the new features.”

Chief Financial Officer Alinda Van Wyk also picked up on this, highlighting how Africa is home to 13 of the 20 fastest-growing economies in the world at present. This, paired with growing populations, presents opportunities to Super Group.

“It just gives us that scale for expansion as well,” Van Wyk said. “And with processing and the regulation, it’s also a much friendlier regulation than, for example, the US. For the last 15 years, we’ve been dealing with every country’s regulation side-by-side and that’s been helping a lot with expansion.”

New Africa markets to follow for Super Group

Menashe fielded several questions on growth in Africa during the earnings call, some of which focused on Super Group’s future plans on the continent. The CEO made clear that the group is committed to further expansion, revealing it could soon go live in more countries.

“Botswana was only launched in February… but I think it’s off to a great start and that’s what we need to see,” Menashe said.

“We are looking at Ethiopia, Ivory Coast, Angola. We have got a lot in the pipeline, but we have just got to make sure we can first deliver all of them correctly and, most importantly, that the taxes and the repatriation of the money out of those countries works for us.

“We’ve got other countries we are looking at as well. But we have just got to make sure that it makes profitable sense to do it. We have still got lots of pipeline there and we are not even in most countries in North Africa or the West Coast. So, there is a lot of opportunity everywhere.”

Easier tech launches in Africa

Also on this, Menashe said the tech stack in Africa makes it easy for Super Group to roll out new features in all its African markets. This is despite the differing regulations present across the continent.

He added that the operator has around 150 different integrations of banking products across Africa to support its ongoing expansion.

“We have got brilliant features that we roll out, but the tech stack there allows us,” he said. “If we roll out a feature in South Africa or Ghana, we can roll it out in Tanzania. So, that’s helping a lot.”

Growth was apparent across many of the group’s core regions, including both Africa and Europe. It also noted success via its iGaming product in North America, with Super Group highlighting Canada in particular.

Growth across Middle East and Africa meant the region now accounts for the highest percentage of revenue at Super Group. This growth was mainly related to South Africa. It drew 39% of all revenue in Q1, up from 37% last year, when it tied with North America.

The region drew $203 million in revenue, a rise of 34.4%. This was despite a decline in the Middle East, with Super Group benefiting from growth across several African markets.

In contrast, while North America revenue was higher year-on-year, its share of group revenue dipped to 35%. Asia-Pacific and Latin and South America revenue share also fell, although Europe’s share of revenue was up from 15% to 19%.

North America revenue climbed 18.3% to $181 million, helped by growth in the Canada market. Europe revenue also jumped 52.4% to $96 million.

However, Asia-Pacific revenue slipped 15.8% year-on-year to $32 million, while revenue in South and Latin America was down 28.9% to $5 million.

Betway revenue up 35.8% in Q1

Taking a closer look at Q1, sports betting remained the primary revenue source for Super Group. Revenue from this segment during the quarter increased by 25.5% year-on-year to $404 million.

However, the group reported higher growth within the online casino segment, with revenue rising 34.2% to $106 million. A further $5 million in revenue came from brand licensing and $2 million from external customer activities.

The Betway brand drew the most revenue during the quarter across both sports betting and online casino. In total, revenue from Betway increased 32%, while the Spin brand, which only offers online casino, saw revenue rise 16.4% to $199 million.

Super Group sees profit rise despite DGC sale impact in 2024

Turning to costs, direct and marketing expenses were higher but administrative costs were level. After other costs, including depreciation and amortisation, pre-tax profit reached $89 million, up 67.9%.

This is despite Super Group last year benefitting from the sale of the B2B division of Digital Gaming Corporation (DGC) to Games Global in February 2024. The sale led to a $44 million gain in Q1 last year.

The group paid $30 million in tax in Q1, resulting in a net profit of $59 million, up 31.1% year-on-year. However, when also including a $17 million positive effect from foreign currency translation, this pushed bottom-line net profit to $76 million, some 105.4% higher than last year.

As for EBITDA, this was 46.6% higher at $107 million. However, Super Group noted several adjustments for this year-on-year comparison, primarily in relation to the DGC sale.

Looking ahead, combined guidance remains unchanged. Super Group expects revenue to be around $2.01 billion for the full-year and adjusted EBITDA $421 million.

“We started 2025 on a high note,” CEO Neal Menashe said in the results report. “We delivered a strong Q1 with impressive revenue growth, a surge in customer acquisition and effective retention strategies.

“Our combined revenue reached a record for a first quarter, fuelled by outstanding sports betting margins and consistent casino margins, as well as our ongoing efforts to optimise return on investment across all markets.”

Other gains included an 8% jump in average monthly players (14,880) and a 51% increase in adjusted earnings per share from $1.05 to $1.59. Cash on hand stayed flat at $1.5 billion with net debt of $5.3 billion. Revenue and EPS were fairly below consensus forecasts of $3.96 billion and $2.05, per Investing.com. The company’s stock was down 1% to $242.36 at market close Wednesday.

Flutter’s US business, led by FanDuel, posted an 18% YoY revenue gain to $1.66 billion, alongside $161 million in adjusted EBITDA, a 5x increase over last year. Conversely, international revenue was just under $2 billion, up 1%, with a 1% decrease in adjusted EBITDA to $518 million. The company noted that those figures jump to +3% and +2%, respectively, when calculated on a constant currency basis.

“I am pleased with the performance of the business during the first quarter, with the scaling of our US business driving a step change in the earnings profile of the group,” Flutter CEO Peter Jackson said in a release.

“FanDuel continues to win in the US, retaining leadership positions in both online sports betting and iGaming, while we saw a positive performance within International, where our scale and the competitive advantages of our Flutter Edge have been enhanced by the acquisition of Snai in Italy.”

All about FanDuel in the US

Sports betting and iGaming revenue in the US grew 15% and 32% YoY, respectively, Flutter said. AMPs increased 11% from the prior year. The operator boasted US market shares of 43% for sports betting and 23% for iGaming during the quarter, per the release.

The sports betting revenue increase is notable given industry-wide unfavourable results in March Madness when all four No 1 seeds made the Final Four. Handle growth of 8% was “in line with expectations with lower than expected basketball handle,” and multiple analysts asked for clarification on that point.

CFO Rob Coldrake asserted that handle isn’t everything and instead said “net revenue is the thing we really focus on”. Still, the company lowered its full-year US revenue guidance from $7.43 billion-$7.93 billion to $7.15 billion-$7.65 billion.

With regard to economic uncertainty tied to US tariffs and fears of a potential recession, Jackson said that the online gaming business is “resilient”.

“We have conviction that online sports betting and iGaming have strong defensive characteristics over the long term,” he told analysts. One-off adverse results and potential softening, he said, “do not compromise” growth plans.

Jackson: FanDuel committing staff to prediction markets

Jackson was expansive in his commentary on prediction markets, perhaps the most pressing topic in gaming currently. He noted Flutter already owns the betting exchange platform Betfair and seemed to indicate that Flutter would rather join them than fight them.

“We’re interested in the potential opportunity, we have brought some of our team who have experience in building these products and services from the Betfair exchange business and put them into FanDuel to help us evaluate the opportunities,” he said. “We’re working through it.”

This is the latest indication that top US bookmakers might look to move into the space. As of now, prediction markets are legal and Kalshi, in particular, has repeatedly defeated legal challenges in recent months. Earlier this year, it was reported that Flutter’s chief US rival DraftKings had applied to register “DraftKings Predict” with the National Futures Association. That application has since been withdrawn.

Product offerings set books apart

One analyst asked whether federally legal prediction markets result in more states legalising sports betting? Jackson responded, “If there is any benefit that we get from prediction markets encouraging faster [sports betting] roll-out, we’ll take it.”

He would not give further details on whether the company was planning to launch its own exchange. Flutter previously operated Betfair’s traditional exchange betting product in New Jersey, but shut it down in 2020 due to weak liquidity. A predictions offering available nationwide would not have any liquidity concerns.

Jackson’s main critique of prediction markets has been their lack of product depth. Traditional sportsbooks offer myriad parlay and bonus options, compared to single-game and season-long contracts on prediction markets. He reiterated that sentiment on Wednesday.

“Don’t forget, the vast, vast majority of people are betting on parlays and it’s just not something you can get close to experiencing, if you look at the way prediction markets are set up,” he said.

International steady

Not much discussion was given to Flutter’s international performance, but both of its top two non-US markets reported growth.

Revenue in the UK and Ireland grew 2% and southern Europe and Africa jumped 14% from last year. Central and Eastern Europe increased 15%, but Asia and Brazil fell 13% and 44%, respectively.

The one international development to garner interest from analysts was Flutter’s bid for the Italian lottery, which it filed in March through a partnership with Scientific Games. The company will now compete with incumbent IGT to win the nine-year contract for one of Europe’s most lucrative lotteries.

Sisal, acquired in August 2022, already powers SuperEnaLotto in Italy, as well as Turkey’s national lottery Mili Piyango.

Coldrake called it a “sizeable opportunity” to grow market share in Italy, describing it as low risk but highly profitable. Jackson also clarified that this was a “unique” situation and Flutter wouldn’t necessarily pursue other lottery tenders.

Readen typically invests in financial technology, including cryto and blockchain developments. Its focus is to help progress the development of crypto payment solutions.

The company said that through the acquisition it now holds licences in Nigeria for lottery, sportsbook and online casino operations. This, it added, will allow it to become a “major international force” in the country’s regulated gaming, entertainment and fintech infrastructure.

In entering Nigeria, Readen said this will give it access to a market worth an estimated $2.50 billion (£1.88 billion/€2.20 billion), which is forecast to grow 9% annually each year until 2030.

“Strategic launchpad” for Readen

Setting out its roadmap, Readen said the deal will include the deployment of specialised operating partners for lottery, sportsbook and casino. Readen will, however, retain full control of the financial and technical infrastructure through its Readies payment system.

Finexeble, a Czech-licensed subsidiary of Readen, operates the hybrid blockchain-powered payment solution. Readies will serve as the exclusive payment rail across all Morrich platforms, handling both fiat and crypto transactions.

With lottery, Readen plans to revamp Morrich’s current offerings with scratch tickets, Keno and mobile-first innovations. It will target mainstream adoption through retail and digital channels.

As for sportsbook, Readen will launch a full-spectrum betting platform integrated with the Readies solution. Finally, online and casino venue-based gaming operations will be rolled out in stages, in compliance with local authorities

“This is more than an acquisition,” Readen CEO Ridzky Berg said. “It’s a strategic launchpad into one of the most dynamic gaming markets in the world. Nigeria’s youthful population, expanding internet access and growing appetite for digital gaming make this a prime market.

“With our proven fintech backbone and seasoned leadership, we’re ready to set a new standard for integrated, secure and user-friendly gaming platforms across the region.”

Incoming Sun International CEO Bengtsson announced his departure as chairperson at the affiliate and gambling marketing business Raketech on 20 March. He is due to start at Sun International from 1 July.

Previously, Bengtsson had a four-year stint as the group CEO at William Hill between September 2019 and September 2022. He first joined William Hill as its chief digital officer in 2018.

During his William Hill tenure, Bengtsson oversaw a deal in which Caesars agreed to pay £2.9 billion (€3.35 billion /$4.04 billion) to take ownership of the group’s US business. William Hill’s European assets, valued at €2.3 billion, would later be sold to Evoke’s 888 Holdings.

Sun International is not itself opposed to a potential acquisition, as it confirmed it was previously in talks with a suitor in 2023.

Prior to Bengtsson joining William Hill, he was the CEO of the Sweden-based Betsson Group for five years, ending 2017.

Bengtsson currently holds the chair of the Hostelworld Group and City Gaming, while also providing advisory services to the consultancy firm Valluga Edge.

“Sun International is an iconic leisure group with a proud heritage, and a unique growth opportunity to become a leading omnichannel player in the rapidly evolving global gaming landscape,” Bengtsson said in a released statement.

Sun International CEO Leeming retires

The outgoing Leeming first joined Sun International in 1999 as group finance manager, later assuming the role of CFO in 2013. He has led the company since 2017.

While in leadership roles, Leeming oversaw the company through its entry into the online market and traversal of the pandemic.

Leeming will step down from 1 July, or potentially earlier should Bengtsson receive his work permit. Leeming will remain with the group until the end of the year in an advisory position.

Sun International chairperson Sam Sithole said: “Anthony has left an indelible mark on Sun International, and I would like to thank him for his significant contribution and dedication to the business over the last 26 years, and especially for his exemplary stewardship of the group since 2017.”

Whether it’s enthusiastic newcomers looking to take their first step in the igaming industry or seasoned professionals looking to take the next step up and secure their dream role, I have always strived to help make these goals become a reality.   

People often talk about their drive or purpose and, while it can be easy to dismiss some of these kinds of statements as a little bit cliché, I have always felt a deep-rooted drive to help people. A recent conversation with my mum brought this belief into sharp focus.

She showed me a clip of me, aged four, dressed as a nurse, helping another young girl into a mechanic’s outfit and a sponsored skip I did when I was eight to help Kurdish refugees. These moments were a glimpse into the passion that has slowly but surely shaped my career path.   

I have always felt empowered and driven when helping other people and throughout my life I have learned that there are few things more powerful than women helping other women achieve their goals.   

Creating a platform  

Through my time with my recruitment company, Initiate International, I have built up an incredible contacts list across the igaming industry, especially in Africa. As the only igaming recruitment company with a physical presence on the continent, I have been able to build strong connections with inspiring women from across the industry.   

However, it felt like these women never had a way of congregating. Whether it was due to bureaucracy, opportunity, or business rivalries, many of these exceptionally talented women never got the opportunity to share their ideas and visions with one another. This led to me founding Women in Gaming Africa in September 2023.  

Through the organisation, my aim was to give women in the gaming industry in Africa a network to empower one another, share ideas and help the African gaming industry grow as a whole. The platform provides leadership, advocacy and mentorship for women across the industry, allowing them to lift one another both professionally and personally.

In my experience, companies that actively offer their female employees a platform for open expression and collaboration tend to excel far beyond those that do not.   

Networking is an incredibly powerful tool; it can open doors, build long-lasting relationships and ignite transformative ideas. I knew that if I could provide a way for these women to network and build relationships they would become a formidable force not just in Africa but in the broader gaming industry.   

Shining a light on igaming in Africa 

Africa and South Africa have a rich igaming heritage, but as the industry has grown this has often been forgotten. Through Women in Gaming Africa my aim is to shine a bright spotlight on these nations and the remarkable women tirelessly working behind the scenes.

These women are instrumental in reshaping the igaming landscape across the continent and it is time for their contributions to be recognised and celebrated for the impact they have had on the industry.  

Our first Women in Gaming Africa conference is set to take place in March 2025 and I could never have imagined that within less than 18 months of the organisation starting, it would be in such a strong position.

However this is not only down to me. While I have helped steer this ship, it would not have left the shore had it not been for the inspiring women who have taken part in it.   

My experience in igaming has taught me a lot, but one key thing is that if an idea is going to be a success people need to believe in it. The idea of bringing women in igaming together in Africa would never have worked if those women weren’t willing to come together.   

A voice for change  

Through the initiative, many of these women have provided opportunities and opened doors for one another. We have seen people make significant career moves, take risks they would have never thought possible and, more importantly, empower one another daily.  

One thing I have learned on this journey is that the importance of community can never be overlooked. Sharing a platform with so many empowering women has changed my career and my life.

The power of lifting one another up, sharing small victories and being genuine champions for one another’s success has inspired me to want more and continue taking this initiative in bold new directions.   

I am both amazed and humbled by the incredible women I meet within igaming in Africa. The industry’s progress has been fantastic, but it is nowhere near complete. Through Women in Gaming Africa we want to continue to be a voice for positivity and change and shine a light on these amazing women.

Our work has only just begun and I am committed to leaving a lasting legacy; not just for the gaming industry, but on this extraordinary continent I am proud to call home.  

Lois Bright was named one of iGB’s Most Influential Women in gaming in 2024.

Speaking to Katie Goldfinch in the iGB@ICE studio, Sparke says transformational developments such as the wave of gaming expansion in the US may totally reshape the market. However that doesn’t mean every business seeking to take advantage wins, as the dominance of a small number of market leaders across the US shows.

There are interesting markets emerging further afield. Sparke sees opportunities in sub-Saharan Africa and the wider Latin America region. As a large single market, Brazil may even provide enough room for multiple licensees to thrive, provided they localise effectively.

And what of AI? To Sparke, AI is being hyped across multiple verticals, but there is plenty of scope for it to become intrinsic to how the industry operates. Chatbots drove the first phase of AI growth, he says, but the second phase of real-time odds and fraud detection incorporates it deeper into the systems.

Phase three will be where AI-driven personalisation really takes hold and serves players with bespoke odds, Sparke adds.

In a Companies House filing dated 31 December, the operator broke down its revenues by market. The UK continues to be key for the group, it said in the filing as the market’s revenue for the region grew 78% to £139 million in the period.  

Rest of Europe accounted for £23 million in revenue while rest of world (RoW) recorded £16.8 million in revenue, up 10%. Regulus Partners estimates Nigeria makes up the majority of RoW.  

“The group is in a development phase,” the filing reads, as it continues to assess new markets and opportunities. 

Losses narrow as LiveScore profit increases  

Meanwhile LiveScore revealed it has reduced its operating losses for the year by 18% to £50.7 million in the 12-month period. Looking at the bottom line, gross profit for the period came to £138.1 million. This also marks an increase of 38%.  

Group profit jumped despite the cost of sales also increasing 38% from the previous year. Distribution costs, largely attributed to marketing spend, was also up 21% to £101.2 million in 2024.  

LiveScore closed the year with £293.5 million in net assets, up from £287.3 million in its 2023 financial year.  

The report mentions a £20 million loan facility provided to LiveScore Group by its shareholders in September 2023.  

On LiveScore’s performance, Regulus said: “LiveScore has continued to grow market share in the UK with a highly successful content-led customer acquisition model as well as leveraging the Virgin brand.  

“However, while this is impressive at the revenue and customer engagement level, evidence of strategic cost cutting can be seen both in terms of moving the betting product to Kambi (live post period) and the subsequent Netherlands exit (at the end of November 2024). The extent to which strategic differentiation can be turned into operational success is still therefore being tested.”  

LiveScore exited the Netherlands after the reporting period in November. The exit was then finalised in December. It also initiated a strategic restructuring in November, which is expected to impact more than 100 roles across the business. 

Most Influential Women is certainly a labour of love and an effort that will continue for many years to come at iGB. Here are the final three Most Influential Women 2024 winners:

Lois Bright  

Director of Africa & ME at The Conexus Group; co-founder of Initiate International; founder of Women in Gaming Africa

“When you’ve worked hard with your head down for a long time and the recognition comes you just feel a sense of elation,” says Lois Bright. And it’s well deserved. Bright is the driving force behind Women in Gaming Africa. 

It started off as an idea when she was flying out of South Africa for a sabbatical, she says. Born as a LinkedIn group sharing motivational quotes, it has snowballed into a 500-strong WhatsApp community and hosts a series of in-person events across the continent this year. Bright now plans to build out mentorship, leadership and learning programmes to further African women in the industry in 2025. 

Originally from the UK, Bright has lived in Africa since 2008. She joined what was then just Pentasia during a year in the UK in 2011. New to gaming, she says learning from founders Rob Dowling and Bruce Gamble was invaluable, but ultimately she opted to return to Africa, co-founding Initiate International, alongside Andrew Wicks. 

“I took the biggest risk of my life with the lowest salary I had ever earned,” Bright recalls. “It was basically a startup. I was coming in to build something up. It was a step into the unknown and obviously the first few years were hard graft, trying to make a name for ourselves, breaking down doors.” 

“But a lot of the gaming industry globally originally came from South Africa, such as the likes of Derivco and Microgaming, so I knew it was going to be a market that took off, although it took a lot of perseverance.” 

The next phase for Women in Gaming Africa

That growth created a new generation of industry executives and through Women in Gaming Africa, Bright is making sure a diverse mix of talent emerges. “It’s marrying passion with purpose,” she says, but she wants to take it further in 2025. 

“One thing I’d love Women in Gaming Africa to do is to have more funding to run really big drives to bring more people into gaming,” she says. “And to make it an industry that’s inclusive and safe for women to come into.

“We do see a lot of people leaving the industry in Africa, so we want to show that it’s a good sector for growth, a good sector for women and a place where women can progress quickly.” 

Next year, she hopes to be looking back on a series of major advances, whether that’s scholarships to send female African executives to the University of Nevada, Las Vegas, or bursaries and grants for these people to attend trade shows. “I want to give a platform to as many underprivileged women as we can,” she says. 

“We see a lot of people leaving the industry in Africa, so we want to show that it’s a good sector for growth and for women to progress quickly” 

Lois Bright 

Heidi McNeil Staudenmaier 

Partner, Snell & Wilmer 

The trophy cabinet of Heidi McNeil Staudenmaier may be stacked with acknowledgements of her work representing tribes, tribal entities and businesses who engage with them, but that doesn’t stop the high-flying attorney from continuing to push boundaries in gaming law and championing greater diversity in the industry. 

Staudenmaier has spent nearly 40 years carving a path for women in the sector. As a partner at Snell & Wilmer since 1985, she was pivotal in creating the firm’s nationally and internationally recognised gaming law practice. 

Her influence is far-reaching, representing tribes, vendors and sportsbook operators across the US and her work has garnered accolades from The Best Lawyers in America (six-time Gaming Lawyer of the Year), Chambers Global and Southwest Super Lawyers. 

Staudenmaier has also broken barriers in leadership, serving as the first and only female president of the International Masters of Gaming Law (IMGL). 

“The gaming business has historically been driven by men,” she says. But now, “women [are] achieving the C-suite, becoming CEOs and holding important roles across the industry.”  

Among her career highlights, Staudenmaier played a crucial role in negotiating Arizona’s gaming compacts, which introduced sports betting in 2021. “I represented our governor in negotiating new gaming compacts with our 22 tribes,” she recalls. 

iGB’s Most Influential Women campaign can help reinforce the importance of visibility for women in gaming, she says. Female leadership in tribal governance is one of her biggest inspirations. 

“The tribal culture is very much woman-run. The women really wield a lot of authority. I’m glad to see that the rest of the gaming industry is embracing that as well.” 

“The gaming business has historically been driven by men. But now women [are] achieving the C-suite, becoming CEOs and holding important roles across the industry”  

Heidi McNeil Staudenmaier

Jennifer Innes 

CEO, BettingJobs 

For Jennifer Innes, initiatives like Most Influential Women are an essential way to highlight the breadth of female talent in the industry and inspire the next generation of leaders. “When it comes to women in gaming, it’s really important to be able to see other leaders and shine a spotlight on them for support,” she says.  

This was something that Innes lacked when she secured her first job in the industry 18 years ago. Entering the gambling sector as a young graduate, Innes was the first female hire at BettingJobs, an experience she describes as “a real eye-opener”.  

Over her almost two decades in the industry, however, the recruitment expert has witnessed a number of changes in the treatment and perception of women. Within the past year alone, BettingJobs has seen a 15% increase in placements for women in gaming, with a growing number of women taking on executive roles.  

Innes also notes that the industry has cleaned up its image at trade shows in recent years, moving away from sexualised representations of women. “Gaming is much more modern nowadays and far more regulated, so there’s not all the scantily clad ladies at conferences and events,” she adds.  

Tackling work-life balance

However, Innes still believes there is work to do. As CEO of BettingJobs, she remains passionate about tackling the gender pay gap and believes that women need positive role models in their private and professional lives in order to reach their full potential.  

Her philosophy can be summed up in one key mantra: “If you don’t see it, you can’t be it.” For Innes, this means mentoring young women in her company to reach top positions in their careers, despite the challenges of working in a male-dominated industry. In her home life, it also means setting a positive example for her eight-year-old twins by showing that her role as a mother can be balanced with her role as CEO.   

“It’s important for me to balance having a career with the family, so my daughter Georgia can see that mum is still here, but mum’s also the CEO.” 

In terms of her own career, Innes is overawed and humbled by the success she’s achieved, from being nominated for prestigious awards to building a thriving company and a huge online following. Having her achievements recognised is “hugely meaningful” for Innes and also an important step in building stronger and better communities among women in the industry. This, for Innes, is one of the most important ways to foster change. 

“It’s important for me to balance having a career with the family, so my daughter Georgia can see that mum is still here, but mum’s also the CEO” 

Jennifer Innes

Over the course of this week iGB has released its full list of the 10 Most Influential Women in gaming for 2024. Catch part one and part two. This year’s judging panel can be found here and here.

From PR and comms, to gaming law, marketing, recruitment and sales, these women come from all walks of life but have come together under the common theme of influence and inspiration among their colleagues. 

When approached, our winners were all particularly humbled to be recognised in this seventh annual edition of the list. The call for submissions this year was launched in October and a highly reputable panel of judges was formed.

When submissions closed at the end of October, we decided to switch up the judging process and adopt a scoring system that considered how shortlisted nominees had enacted change within their roles both at a company and industry level. 

Judges were also tasked with rating their visibility within the sector and their respective companies and finally their capacity to enact change in the future. The panel was impressed with the quality of candidates and largely agreed on the final 10. 

Thank you to all those that submitted nominations, to our judges for their time and efforts and to those listed this year for forging change and influence within our sector.

Our first three Most Influential Women 2024 winners are:

Grainne Hurst

CEO, Betting and Gaming Council (BGC)

Hurst is one of the most recognisable names on the list, thanks to her hugely visible role at the helm of the UK gambling industry’s leading trade body. The BGC is at the heart of UK gambling in its role as the industry’s representative. 

Hurst was welcomed into the position in September and hit the ground running. Shortly after her promotion, the group published its first report on the scale of the gambling black market in the UK. In it she calls for a more holistic approach to tackling the problem, as enforcement is “only part of the solution” she said at the time. 

She transitioned into the role during a truly pivotal period for gambling, particularly in the UK, where the sector is grappling with deep-rooted reforms introduced by the previous government’s white paper. 

“There is a huge amount of work ahead of us, not least delivering and implementing the outstanding proposals outlined in last year’s white paper, many of which our members called for,” Hurst said upon taking the helm at the BGC. 

“Our members are rightly proud of their vital role in the UK entertainment industry, and the significant part they play supporting the local and national economies through tax and high value jobs.” 

Black market battle

Intercepting the black market is at the top of Hurst’s to-do list. “My priority is ensuring we do everything in our power to do our job on this,” she told iGB in a November interview. “We have to be continually promoting and enhancing the BGC’s member’s role in the leisure, entertainment and tourism sector and ensuring policymakers and the wider public recognise there is a huge difference between us and the unsafe, unregulated gambling black market.” 

It’s an overwhelming undertaking for Hurst, BGC and the sector as a whole, as many enforcement efforts have so far not been successful in mitigating black market activity. However, Hurst is wasting no time in taking on the issue and believes a unified approach will be beneficial in this battle. 

“We can also work with partner trade bodies abroad, because fundamentally, this is an international challenge. I was proud this year to sign a Memorandum of Understanding with the American Gaming Association and the European Casino Association. I am excited to see where that takes us and what outcomes it secures,” she added. 

“We need to keep the pressure on and keep raising this issue [of the black market] in the media and with policymakers, and ensure those other stakeholders are aware they have skin in this game too.”

Career preperations

Hurst jumped into action quickly in her role with the BGC. Her background in the civil service as an advisor and her subsequent work in corporate affairs for UK gambling powerhouse Entain prepared her for life as a prominent figure, where scrutiny from the sector and the public is often part of the role. 

But Hurst is not afraid to stand her ground and, over her time in gambling, she has gained the respect of her peers. Elsewhere, she is a board member for Global Gaming Women (GGW) and is an active participant in its events. In 2023 she was honoured with the group’s Patty Becker “Pay It Forward” award for demonstrating “outstanding commitment to the development and advancement of women, GGW and the community” the group said at the time.

“There is a huge amount of work ahead of us, not least delivering and implementing the outstanding proposals outlined in last year’s white paper.”

Grainne Hurst

Purity Wahiu

Director and managing partner, Stellar Bets

Purity Wahiu took her first gaming job in late 2017 and has enjoyed a meteoric rise since. She currently serves as director and managing partner at Stellar Bets, having made the move over from Palms Bet in November 2024. Her gaming career started as a retail training specialist at Betin, taking in stops at operators such as Inbet and DafaBet as it evolved and expanded into online.

It all comes down to the strength of her network, she says. “Building a network is very important,” Wahiu explains. “[But] as much as having network is important, integrity is the key thing.

“If you do the right thing at the right time in the right way, people will think highly of you,” she says. “As much as you have that network, it depends on what you put into that network.”

The odds were not in her favour, she says. “When I joined, no one believed I would make it. But it just takes one person to believe in you.” And she wants to continue that cycle and ensure the industry is inclusive and diverse.

“We are in an era where there is so much innovation and what I want to achieve in my career is encouraging a generation that never shies away from taking on a position, especially women.”

A new generation of women in gaming emerges

And she sees a new generation starting to emerge. She picks out esports pioneer Faith Dorothy Ahurira, founder of Gamer Girls Uganda, as someone who has climbed all hurdles in her path as an esports athlete and advocate for women. Then there’s Emily Asava, currently at SA Gaming, as someone she sees as an emerging industry talent.

Wahiu aims to foster that inclusive culture by bringing in more talent, using her training skills to encourage more women to join gaming from other industries. “I feel women need to be heard and need to be included,” she says. “My biggest achievement will be mentoring that next generation.”

To be recognised for her efforts and named one of iGB’s Most Influential Women for 2024 is “a huge honour”, she says. “I’m so grateful; I didn’t know that people from all over the world would know my name and that I’d be in this position one day.”

It’s her network that ultimately brought her into the industry. She had left a role in procurement, when a call from a former client led her to Betin. That network may have brought her into the industry, but it’s what she’s put in to supporting the companies and people within it that’s made her a key industry figure.

I want to encourage a generation that never shies away from taking on a position, especially women.”

Purity Wahiu

Erica L Okerberg

Vice chair gaming practice and shareholder, Greenberg Traurig

“It’s a privilege to be recognised alongside the incredible women listed in this year’s iGB Most Influential Women campaign,” Okerberg enthuses. “The calibre of previous winners is impressive so it’s quite an honour to be included for the same recognition.” 

The legal space is ever evolving,and varied cases and projects have kept Okerberg on her toes throughout her career. She has advised and worked for land-based and online casino operators, as well as sports wagering operators and private equity funds and thus has a wide-reaching understanding of the sector’s legal complexities. 

But Okerberg says mentorships have helped propel her through her career. “Mentorship (both formal and informal) has been vital to helping me grow and build my career within the industry. The support that I’ve received [from within the sector] and especially from some key mentors has been wonderful,” she recalls. 

Her goal is to repay that favour and foster a nurturing environment for other women through mentoring young women entering the industry and advocating for continued growth in diversity.

Celebrating women’s successes

“I love seeing women’s successes highlighted in an industry where we are building presence and leadership. Reading about other women succeeding in their business endeavours promotes gender diversity, creates bonds and strengthens our culture, and inspires future women leaders,” says Okerberg. 

Okerberg has received a number of accolades for her work within the sector, including GGW’s Patty Becker “Pay It Forward” award, a listing in Chambers USA’s Best Lawyers in America campaign and the 2024 Vegas Inc “40 Under 40” List.  

She names previous Most Influential Women winner and FanDuel CEO Amy Howe as a shining beacon of inspiration and influence for her, as “she is a great leader and a champion of women in the industry.”

“The calibre of previous [MIW] winners is impressive so it’s quite an honour to be included for the same recognition.”

Erica L Okerberg

Over the course of this week iGB will release its full list of the 10 Most Influential Women in gaming for 2024. This year’s judging panel can be found here and here.

The Game secured The UAE Lottery lottery licence in July this year. Tickets for its AED100 million Lucky Day draw went on sale on 27 November.

The UAE Lottery is the only show in town

The Federal Law by Decree that established the GCGRA permits two lotteries in the UAE to continue operations, the regulator noted.

Only Big Ticket in Abu Dhabi International Airport and Dubai Duty Free can continue operations alongside The UAE Lottery. 

“In accordance with the law, all other pre-existing lotteries will not be considered for continued operations and the GCGRA has ordered them to shut down,” the GCGRA said. 

Who could the GCGRA be referring to?

The GCGRA does not name any companies targeting UAE players in its notice. However a number of fiat and crypto gaming operators are known to have been active in the market. Semrush estimates traffic of 39.6 million going to gambling-related domains in the year to date, although this includes licensed offerings. 

Two high-profile lotteries previously operated in the UAE, Mahzooz and Emirates Draw.

Mahzooz’s website says it stopped operations in the UAE from 1 January 2024. In the wake of The Game prevailing in the lottery licence contest, it announced plans for a pivot into new gaming verticals. 

Emirates Draw also paused UAE operations from 1 January this year in response to a GCGRA request. It too plans to apply for UAE licences in other verticals.

GCGRA CEO to consumers: “Stay vigilant and informed“

Consumers that gamble with unlicensed operators face “significant risks”, the GCGRA said. 

Aside from losing money, they could become the victims of cheating or fraud, the regulator explained. They risk having their personal data stolen or misused, malware or phishing attacks. Some could even be implicated in a regulatory or criminal investigation. 

“Your adherence to the law not only safeguards your personal and financial security but also upholds the integrity of our community,” GCGRA chief executive Kevin Mullally added. “If you choose to play, do so only with licensed operators.”

Unlicensed businesses have not had technology or games independently evaluated for fairness or security, Mullally continued. “They are not required to act responsibly or incorporate basic consumer protection. They are not subject to advertising regulations and lack any oversight of their finances, including having reserves for prize payouts and complying with anti-money laundering laws. 

“Consumers are strongly advised to avoid unlicensed operators to protect themselves from adverse consequences.”

The warning is not just for players. Mullally said advertisers, payment solution providers and other suppliers could face sanctions or actions that could prevent them from doing business in the regulated UAE market.

The Lagos state government, which first raised the issue back in 2008, hosted a meeting of the Federation of State Gaming Regulators of Nigeria (FSGRN) on 3 December to discuss the ruling. And the consensus was that it is a “watershed” moment for gaming regulation.  

The FSGRN is an inter-state alliance made up of Nigeria’s various state lottery and gambling authorities.

Ruling empowers states to develop own frameworks

Bashir Are, CEO of Lagos State Lotteries and Gaming Authority (LSLGA) and chairman of FSGRN, said the ruling will unlock more economic opportunities for the sector.

“The decision provides a fertile ground for innovation, responsible gambling and job creation in gaming technology, game development and entertainment,” he said. “Our mission is to transform Nigerian youths from being passive participants to active creators in a thriving gaming ecosystem.”

Olajide Boladuro, director general of the Oyo State Gaming Board, added that the judgment had empowered states to develop gambling regulations that suit their unique cultures and economic landscapes.

Prince Imuomuen of Nigeria’s Edo State regulator encouraged the parties to increase inter-state collaboration on gambling matters.

“Through synergies states can ensure operators have clear guidelines and residents are better protected. FSGRN is committed to fostering partnerships that uphold the highest standards,” Imuomuen said.

Akinroluye Olajide, chairman of the Ondo State Lotteries Regulatory Commission, agreed. He also said inclusive engagement with operators will be key in forming future regulations.

“This ruling enables us to sanitise the industry by integrating willing operators into a legitimate framework. A collaborative approach ensures a sustainable and thriving gaming sector for all.”

Continuing support for URL regime

FSGRN members also underlined their commitment to the Universal Reciprocity Licence (URL) regime. Developed in partnership with Deloitte over the past two years, this has been designed to streamline licensing processes across member states.  

As of 1 December, the URL system is fully operational across Nigeria. Are said the FSGRN is well prepared to enforce the regime and is urging operators to transition promptly.

“URL reflects our dedication to building a gaming industry where operators face reduced bureaucratic hurdles while ensuring compliance with global best practices and standards,” Are said.

“With the URL regime, we are creating a standardised yet flexible licensing ecosystem that will enhance industry credibility. It will reduce operational bottlenecks and drive growth in respective states. This system is a significant milestone and we are confident it will set a new benchmark for gaming regulation in Nigeria.” 

The FSGRN also committed to partnering with federal agencies to align regulations with national policies. These include the Corporate Affairs Commission, Advertising Regulatory Council of Nigeria, Nigeria Communications Commission and Nigeria Data Protection Commission.

“This is a defining moment for Nigeria’s gaming industry,” Are said. “With a united resolve, we will strengthen high regulatory standards, enhance revenue and protect residents from illegal gaming activities.”

By this it meant gambling and lottery is not included in the federal government’s exclusive legislative list which includes policies and jurisdictions it resides over. The list has 68 items that are exclusively reserved for the national assembly to legislate upon. It includes nationally sensitive areas like defence, banking and the creation of new states.  

The case was brought about by the Lagos state government seeking for the court to interpret who should preside over lottery regulation.   

Ruling has “far reaching” implications and redefines lottery in Nigeria

The ruling was handed down by a seven-member jury on 22 November and has far-reaching implications for gambling and lottery in Nigeria.

“The implications of this judgment are far reaching as it has effectively redefined the Nigerian lottery industry,” local law firm Templars law said in a client note dated 25 November. 

“The National Lottery Act can no longer operate generally throughout the Federal Republic of Nigeria as it previously did,” the note said. “The Act will now only apply to Nigeria’s FCT (Federal Capital Territory), which is ordinarily within the legislative remit of the national assembly.”  

The move has been celebrated by the Lagos state government, while the Lagos State Lotteries and Gaming Authority described the ruling as “a significant milestone for the gaming industry in Nigeria”.  

“We look forward to seeing the positive impact it will have on our economy and society,” the statement said.  

Samuel Rowland, COO for the Lagos State Lotteries and Gaming Authority, said the ruling highlighted the importance of constitutional adherence in legislative processes. 

“This ruling could also prompt a re-evaluation of how other areas of law are legislated and enforced in Nigeria, potentially leading to more legal challenges regarding the distribution of powers between state and federal authorities.”  

Brazil’s state and federal regulators locked into similar dispute

Brazil’s state and federal regulators are grappling with a similar dispute over whether Rio de Janeiro’s state lottery regulator (Loterj) can award lottery and betting licenses that enable operators to provide their services nationally.

On 14 October Loterj requested a preliminary injunction from the Supreme Court to reject a lawsuit by the government seeking to ban its licensees from operating outside the state. The legal battle is ongoing.

It also aims to shine a spotlight on the market to encourage more businesses to move into the African gaming space.

In targeting Africa, Tekkorp said it aims to support its investors across operational, technical and strategic matters and provide access to capital. This includes product solutions, media partnerships, payments and legal expertise.

Tekkorp founder and chairman Matt Davey expects to see strong growth at a significant pace in the market. “This will encourage more operators to enter the space and that’s why we believe the time is right to get ahead of the coalescing trends and create a balanced portfolio of premium African assets, underpinned by our local expertise, to best capitalise on this profitable opportunity,” he added.

“Our goal is to turn these promising companies into regional leaders, building a diversified portfolio of high-performing, compliant brands with strong governance, unblocking the barriers to major operators investing with confidence.”

Africa partner appointed to lead investment efforts in the region

Conor O’Donovan (pictured), associate partner at Tekkorp since March 2023, has been appointed the firm’s Africa partner to lead its expansion into the region.

His responsibilities will include identifying new opportunities in Africa and assembling an advisory and management team to help steer investment and operational oversight.

O’Donovan has worked within the African gaming sector for several years, while he is also the founder of Tribe54, an investment company that focuses on Africa’s payments, fintech, gaming and gambling sectors.

Aside from this, he spent five years with NewPlay Group, another investment business. He also had a spell at Betyetu Group, a sports betting and gaming business with a footprint in east and west Africa.

“Tekkorp, alongside our strategic partners, is well-equipped to navigate these complexities and bring out the potential in strong, locally led businesses,” O’Donovan said.

“Our goal is to turn these promising companies into regional leaders, building a diversified portfolio of high-performing, compliant brands with strong governance, unblocking the barriers to major operators investing with confidence.”

On 5 October, Wynn Resorts was awarded the first UAE commercial land-based casino gaming licence. Wynn is developing its Al Marjan Island Resort, located in Ras Al Khaimah (RAK), UAE. 

Previously, Wynn said the project is scheduled to open in 2027. The operator has forecast the UAE gaming market to be worth $3bn-$5bn. (£2.3bn-£3.9bn/€2.8bn-€4.6bn) For its property in RAK, it projects gross gaming revenue in the range of $1-$1.67 billion. The base expectation of $1.33bn. 

Aristocrat gaming CEO Hector Fernandez said the company is “honoured to be the first large, international technology provider to be awarded a gaming-related vendor licence to serve the UAE market”. 

“At Aristocrat, our vision is to deliver the best seat in the house wherever and whenever the world plays. We look forward to doing so by providing premium content for players in the UAE while simultaneously encouraging responsible gameplay,” Fernandez said.  

The GCGRA was formed in September 2023 to oversee the regulation of gambling across the Emirates. In July it awarded the UAE’s only lottery licence to The Game LLC, to operate its national lottery.  

The regulator’s executive team and board consist of a number of familiar faces in gaming. Among them are former chairman and CEO for MGM Resorts Jim Murren and former Nevada Gaming Control Board chair Mark Lipparelli.  

MGM awaiting casino licence 

MGM Resorts said it also applied for a UAE casino licence on 20 September. At the time CEO Bill Hornbuckle said he expected to hear more on what the UAE regulator’s federal mandate and federal oversight would be later in the year.  

The operator has a UAE resort under development in Dubai. That is through a partnership with Hospitality and Leisure featuring the MGM, Bellagio and Aria brands and 1,500 hotel rooms. The deal dates back to 2017.  

“Dubai has not opined on [gaming] yet,” Hornbuckle said at the time. “I hope and believe we’ll hear more from Abu Dhabi later this year about the federal mandate and federal oversight and we’ll go from there.” 

Sports betting leads the way in South Africa

Sports betting was again by far the largest source of revenue, generating ZAR35.91bn, or 60.5%, of all revenue. This is 51.2% more than in the previous year.

Of this, ZAR28.97bn was revenue from online betting, with the vertical accounting for 49% of overall revenue in 2023-24. Online sports betting is currently only legal in the Northern Cape, Western Cape, Mpumalanga, Limpopo and North West provinces.

Retail betting revenue for the year amounted to ZAR6.94bn, accounting for 19% of all betting revenue or 11.7% of total market revenue.

Revenue flat across other gambling types

The growth seen in the sports betting sector was not replicated elsewhere.

Retail casino was the next largest source of revenue at ZAR17.36bn, although this remained largely flat at 0.1% higher than in the previous year.

Limited payout machines (LPMs) – gambling machines with a restricted bet and prize – drew ZAR4.15bn in revenue, down 1.9% year-on-year. The remaining ZAR1.89bn in revenue came from bingo, a 2.4% year-on-year rise.

Player spend reaches record ZAR1.14tn

Looking now to how much consumers wagered, this amounted to ZAR1.14tn in the 2023-24 financial year, surpassing last year’s existing record of ZAR815.11bn by 40.2%.

Sports betting wagers reached ZAR761.26bn, accounting for 66.6% of total wagers. Unlike revenue, the regulator did not break this down across retail and online.

Players spent ZAR297.42bn gambling at casinos, representing 26% of all wagers in 2023-24. A further ZAR53.74bn was wagered through LPMs, or 4.7% of all bets, while bingo accounted for the remaining 2.6% (ZAR30.27bn).

Western Cape benefits from online betting

Breaking down the market by province, Western Cape generated the most gambling revenue at ZAR18.79bn. This came from ZAR353.19bn in players bets, the second highest provincial total in 2022-23. Western Cape is only one of a handful of provinces that allows legal online sports betting.

Gauteng, the most populous region of South Africa, placed second with ZAR13.10bn in total revenue from ZAR173.7bn in bets. Mpumalanga drew the most wagers at ZAR359.34bn but ranked third in revenue terms on ZAR12.98bn.

As for tax, South Africa generated ZAR4.84bn during the 12-month period. Of this, 50%, or ZAR2.41bn, came from sports betting, including ZAR889m from online wagering.

Wynn Al-Marjan Island revenue projections top $1.88bn

And now the operator has highlighted the scale of the opportunity in an investor presentation held today (8 October) in Las Vegas.

Wynn expects a UAE gaming market to be worth $3bn to $5bn. For its property in RAK, it projects gross gaming revenue in the range of $1bn to $1.67bn, with a base expectation of $1.33bn. 

It will pay a blended tax rate of 10% to 12% of GGR, it said. In terms of other major IR destinations, this means the UAE is most comparable to Singapore, which has a tiered GGR tax of 8% to 12% for VIP players (rising to 18% to 22% of GGR for mass). 

As a blended rate, however, it does not confirm the rates for specific products. However it suggests a tax rate lower than early figures seen by iGB. Those suggested a 25% GGR levy for slots and 18% for tables and an 8% rate for VIP players. 

Adjusted property EBITDA is expected to fall in a range of $390m to $570m, with adjusted property EBITDAM of 36% to 43%. The resort will generate free cash flow between $170m and $350m. 

The total cost of the project including land, fees and capitalised interest is projected to come to $5.1bn. Wynn’s equity contribution will come to $1.08bn (a 40% share) and it aims to complete a $2.4bn debt raise by the end of the year. This is already oversubscribed, with strong demand from local and international lenders, Wynn said.

The customer base for Wynn’s UAE casino

This $1.33bn base expectation for GGR shakes out into revenue from three core player segments. Core to this is the ‘international VVIP’ segment, comprising ultra high-net-worth international customers. Wynn expects this group will contribute 37% of GGR.

Around 75% of the world’s population is within an eight-hour flight of Wynn Al-Marjan Island. It has over 100,000 existing gaming and non-gaming customers in its global database. Daily spend for these players is three times higher than gaming customers in the Wynn Las Vegas database.

International tourism will make up 29% of the $1.33bn GGR total. The property sits on a cluster of man-made islands located 20 minutes from the Ras Al Khaimah International Airport and 50 minutes from Dubai International Airport. 

Overnight visitation to Ras Al Khaimah is expected to grow rapidly in the coming years. For 2023, an expected 4.3 million overnight visitors came to the Emirate. That will grow to 9.6 million by 2030, according to the RAK Center for Statistics & Studies. 

The final 34% will come from domestic visitors. The UAE is an untapped market for integrated resorts, with a potential player base of nine million non-Emirati residents. And it’s a “magnet” for high-net-worth individuals Wynn said. More than 6,700 millionaires are expected to relocate to the UAE in 2024 alone.

Strong non-gaming revenue from amenities such as high-end dining and retail means Wynn projects operating revenue ranging from $1.375bn to $1.875bn with a base expectation of $1.625bn. 

The higher end of Wynn’s market size projections would put UAE gaming just behind Singapore’s GGR of $6bn and not far off the Las Vegas Strip’s $8.9bn. 

When will Wynn Al-Marjan Island open?

The UAE’s first integrated resort is on track to open in 2027, with the property’s tower to top out in Q4 2025. Interiors, furniture, fixtures and equipment will be installed over the next year, with pre-opening scheduled for the first quarter of 2027. 

Upon completion the property will feature a hotel with 1,542 rooms, including 297 suites, six townhouses and 22 villas, as well as a 225sqft gaming floor. It will also house 16 restaurants, six bars and lounges, as well as luxury retail and conference space.

While it’s likely to be the first in the region, others are already circling. MGM Resorts chief executive Bill Hornbuckle told attendees of a Skift conference in September that the operator had applied for a licence in Abu Dhabi. 

The GCGRA has not confirmed any other licence applicants, nor has Abu Dhabi commented publicly on gaming developments. 

MGM did partner Wasl Hospitality and Leisure in 2017 to advise on a luxury resort development on Jumeirah Beach. The development will feature the MGM, Bellagio and Aria brands and 1,500 hotel rooms, although Dubai is also keeping quiet on any plans for gaming developments.

Wynn said it ultimately expects two other competing properties to enter the UAE casino market. Regulations limit each Emirate to a single casino.

“The way it will work, the federal government, the Abu Dhabi  government, will approve it,” Hornbuckle explained. “We’ve applied for something there and hopefully will win something there. Then each ruler will has their say. It’s like a state, where each state says yes or no.

“I hope and believe we’ll hear more from Abu Dhabi later this year about the federal mandate and federal oversight.”

MGM Resorts has longstanding UAE gaming connections

“We actually have a long history with the region,” he told Skift senior hospitality editor Sean O’Neill during an on-stage interview. “We worked with a group called Dubai World, which was partnered with us in CityCenter, [so] we know the region and we know a lot of them layers.”

Dubai World and MGM Resorts agreed a 50-50 joint venture to construct CityCenter on the Las Vegas Strip in 2007. The development incudes the Aria Casino Resort, Vdara hotel and the residential Veer Towers.

In 2021 MGM paid $2.1bn to buy Dubai World’s stake in the JV. It then sold the Aria and Vdara real estate to Blackstone in a $3.89bn deal that year. 

MGM Resorts already has a UAE property under development in Dubai. It partnered with Hospitality and Leisure in 2017 to advise on a luxury resort development on Jumeirah Beach. This will feature the MGM, Bellagio and Aria brands and 1,500 hotel rooms. 

“It has several podiums in it which, if Dubai wants gaming, could accommodate that,” Hornbuckle said at the Skift conference. Whether that happens remains to be seen, however. “Dubai has not opined on [gaming] yet,” he said. “I hope and believe we’ll hear more from Abu Dhabi later this year about the federal mandate and federal oversight and we’ll go from there.”

Speaking to iGB at ICE London this year Hornbuckle said while MGM Resorts had had boots on the ground in Dubai since 2015, it was interested in developing an Abu Dhabi gaming resort. “As the capital it feels as if it might go first,” he said. 

UAE gaming could unlock a global audience

Gaming will remain off-limits for Emiratis, Hornbuckle noted. However, between 80% to 90% of the UAE’s population is made up of expats. 

“It’s a huge travel market,” Hornbuckle said. “Dubai airport is one of the largest airports and I think it will be the biggest in the world.” 

The UAE is a huge market for India, other Middle Eastern countries and Chinese tourists coming to Dubai. “We’re excited by what it presents and we hope to be there.”

Wynn waits in the wings for UAE casino licence

While Abu Dhabi’s resort plans are in their infancy, Wynn Resorts’ property in Ras Al-Khaimah is already under construction and awaiting its casino licence from the General Commercial Gaming Regulatory Authority (GCGRA). 

To date the federal regulator has only issued a licence to operate the UAE Lottery, to a business called The Game LLC, disappointing established local lottery operators Emirates Draw and Mahzooz. 

The GCGRA board of directors has visited Wynn Al Marjan Island, but there there have been no updates on its licence. The property is scheduled to open in 2027. “I assume that they will be moving forward to the next step in our licensure,” Wynn CEO Craig Billings said following the operator’s Q2 2024 results announcement in August. “I don’t have a specific timeline for you, but you can see all the momentum that’s happening there.”

“Now we see a wider distribution of bets into more entertainment-like products [such as] bet builders and SGPs (same game parlays), as [users consume] different types of statistics. People follow the sports in a much deeper way than they used to.”

With this evolution of betting behaviours, users have developed an almost insatiable demand for content Sadi explains. “Producing this, almost to individual needs, is expensive to be able to deliver at scale.”

Like others, LiveScore sees generative AI as a solution to satisfying that consumer demand.

Can generative AI drive convergence?

Its media offering has a global reach and its performance in different markets helps dictate its betting product’s expansion. Sadi believes his 25 years of experience in sports media has provided a key competitive advantage for the convergence of media and betting. “It’s created a moat so others are not able to enter,” he says.

“How do we customise our app more to [suit] an individual’s behaviour? And how do we deliver a single personalised app to every fan around the world? I think we’re not too far away from being able to do that at scale with the use of genAI.”

Delivering that personalised experience to users is crucial in bridging the gap between media and betting. Although separate product and marketing teams work across the two product arms, Sadi says the the product suite is viewed as a single ecosystem to ensure a seamless experience.

The impact of overregulation

Currently LiveScore Bet is available in the UK, Ireland, Nigeria and the Netherlands. Sadi is eyeing expansion into South Africa and Eastern Europe, but its growth in new markets has slowed since 2022 and the cost implications of overregulation could further delay its expansion.

LiveScore Bet was among the first to enter the Netherlands’ licensed online gambling market in September 2021. However tightening regulations on advertising and tax hikes have created an increasingly onerous burden for licensees.  

The LiveScore CEO admits he may not have entered the market under its current regulatory regime. “Single-digit market share owner operators are on the brink of being exited from the market due to regulation” he says. Each additional layer of compliance brings its own additional costs and Sadi believes the current business model is becoming too expensive for mid-tier operators to navigate.

“Making decisions to enter a market rely on complex models towards investment and, at some point, reaching profitability. If the fundamentals change over time, you need to revisit and refinance your business and question whether there is long-term viability in the market,” Sadi says.

“The most damaging regulatory environment is one that is full of uncertainty.

Sam Sadi, LiveScore Group CEO

“The most damaging regulatory environment is one that is full of uncertainty. Making decisions to enter a market rely on complex models towards investment and at some point, reaching profitability.”

Thanks in part to the success of the LiveScore media business in Africa, Sadi has set his sights on expanding its betting operations on the continent. Africa’s “advanced and sophisticated” regulatory landscape strikes a good balance between consumer protection and allowing operators to grow.

South Africa – where LiveScore acquired platform specialist WonderLabz last year – is another country the company is eyeing for a future betting launch. And Sadi is also confident about opportunities in Kenya and Ghana as “well established, regulated markets”. On Nigeria he admits: “we haven’t seen than much traction, but that’s because we haven’t prioritised this market yet. As the market shifts more from retail to online, we’ll be there to leverage that opportunity.”

Competition in convergence – but will they succeed?

The rise of convergence apps clearly reflects the wider behavioural shift in players, but it’s an expensive model to operate and the industry has seen a few offerings fall by the wayside already.

Penn’s Barstool Sportsbook was a prime example. After securing a majority stake in Barstool in 2020, Penn sought to combine the online sports community with its interactive betting solution. It ultimately sold the business back to founder Dave Portnoy in August 2023. The US gambling giant subsequently initiated a new media partnership with ESPN. That new venture experienced a slow start, leading to speculation of rival operators bidding to acquire Penn.

“Not every type of sports media has the propensity to converge,” Sadi says. “Barstool Sports is really a social community. Do people use that community in a betting context? Is that why they are on that platform? ESPN is in contrast, it’s a pure sports product.”

“[Convergence is] a term used a bit too loosely in our industry.”

Sam sadi, livescore group CEO

The LiveScore CEO says he doesn’t view similar convergence products as direct competition. “It’s a term used a bit too loosely in our industry.”

DAZN, The Score and Fanatics are all navigating convergence in their own unique way. Indeed, Sadi says the former is targeting a slightly different audience to LiveScore and he believe its betting offering is supplementary to their media capabilities.

“We don’t focus on the [other] convergence operators much. Some are different in terms of the audience they target.” Instead, the target audience is LiveScore media consumers that are betting across different apps. “We need to see if there is a way we can deliver better value to them.” This is particularly relevant in the UK’s mature and highly competitive betting landscape.

“At the receiving end of that audience you need to have a sportsbook that is just as good or better than the market leaders. Just because your audience loves your brand and spends time consuming your content, [they won’t] downgrade their sports betting experience.”

Previously Tappeiner held operations roles at other Las Vegas Strip properties including Resorts World Las Vegas and The Venetian and Palazzo, where he served as vice-president of hotel operations. This followed years in the hotel industry mainly with Mandarin Oriental Hotel Group. 

“I’m beyond grateful and humbled to join the Wynn Al Marjan Island team,” Tappeiner wrote on LinkedIn. “Thank you to Craig Billings for this amazing opportunity. 

“I’m looking forward to this exciting journey as we expand to a new territory as the first gaming operator in the UAE.”

While the development in Ras Al Khaimah won’t open until 2027, Tappeiner is now the second president of the project. Wynn named Marriott International veteran Thomas Schoen as president in May 2023. iGB was told that Schoen has left the business, but inquiries to Wynn for confirmation were not immediately returned Tuesday.

Wynn Al Marjan Islands pioneers UAE gaming

Announced in January 2022, the $3.9bn Wynn Al Marjan Island will be Wynn’s first beachfront resort and the first property of its kind in the UAE. The property on a man-made island will include a 1,500-room hotel alongside entertainment and gaming amenities, 24 dining and lounge experiences and a high-end shopping centre among other attractions. 

Construction is under way and Wynn chief executive Craig Billings said during the operator’s H1 results call that it stands at just over 90 metres, making it the tallest building in the Emirate.

Wynn closed a deal in the second quarter to acquire a further 70 acres of land on the island for potential future developments.

“As I have noted before, I believe the UAE is the most exciting new market for our industry in decades and our confidence in the demand and EBITDA potential of Wynn Al Marjan continues to grow,” Billings said during the earnings call.

Where’s Wynn’s UAE licence?

The property is yet to receive a licence from the UAE’s new gambling regulator, the General Commercial Gaming Regulatory Authority (GCGRA). The Ras Al Khaimah Tourism Development
Authority (RAKTDA) was originally set to be the regulator with oversight for the property before the GCGRA was established.

Formed in 2023, the GCGRA is responsible for development of integrated resorts, a national lottery and an igaming industry. However, to date it has only issued a licence to The Game LLC. A new company owned by Abu Dhabi-based gaming business Momentum, The Game will run the Emirates’ national lottery, UAE Lottery. That meant established local operators Emirates Draw and Mahzooz both missed out.

While Wynn Al Marjan Island was the first gaming project launched in the UAE, there have not been any recent updates on when it will secure its operating licence. Multiple sources told iGB the GCGRA board has visited the development in recent months.

On the H1 earnings call Billings pointed to the UAE Lottery licence as evidence of progress, suggesting Wynn’s licence is in the works.

“I assume that they will be moving forward next… to the next step in our licensure,” he told analysts. “I don’t have a specific timeline for you, but you can see all the momentum that’s happening there.”

North America was Spin’s strongest region, recording €112m in revenue during Q2. The casino-focused brand’s revenue across all regions came in at €168.5m, an increase of 11% from 2023.

Monthly active customers were also up by 21% in the second quarter to 4.5 million as icasino accounted for a clear majority (78%) of the overall revenue.

Growth in Africa and Middle East region, which accounted for €153.6m in the second quarter, helped drive the uptick in the group’s performance. Alongside North America, the two markets accounted for 73% of the group revenue during the three-month period, with North America bringing in €150.1m.

Super Group pulled its Betway sportsbook brand from the US in July, with an adjusted EBITDA loss of €16.4m relating to the disposal recorded in Q2.

“I’m glad we have reached a conclusion in shutting the US sports betting market and we continue more generally to optimise our global footprint both in terms of geography and product,” group CEO Neal Menashe said.

Super Group plans to reinvest in US igaming

Speaking to analysts, Super Group president and CCO Richard Hasson said the firm would look to reinvest up to €40m in the US annually if it continues to reap returns in the two states where its igaming business Spin remains live.

However, Hasson confirmed the group would keep a close eye on US performance by setting monthly net win targets to ensure continued profitability.

He said €40m was the most it would invest in the US each year and the firm would pivot away from other markets where profitability suffers.

Super Group’s igaming offering remains live in New Jersey and Pennsylvania despite its sports betting business withdrawing from the US in July. An extensive review concluded the betting arm did not have a long-term path to profitability.

Germany has become “onerous” as players flock to black market

Hasson reiterated plans to streamline Super Group’s focus on key markets. “In the past we were homed in on too many countries,” he said. “We closed a few of them and that allowed us to focus on the other ones. That’s the same process we went through with the US sportsbook.

“In some markets there are regulations that are a big part of it; in the UK they seem to be easing up a little bit, whereas the Netherlands was far worse so we decided not to go for it.

“The one that’s probably been the worst was Germany. there they have done done all the [regulatory] work, but it’s so onerous the customer is just going to the black market and we can’t compete as we could in the past. I think over time the regulator will understand and be more reasonable with those that are regulated.”

DGC impairment hits bottom line but EBITDA increases

In terms of the bottom line, adjusted EBITDA increased 8% to €81.9m, compared to €75.9m in Q2 2023, while the group closed June off with €306.8m in its cash reserves. This was buoyed by €104.5m from operating activities during the first six months of the year.

The firm also reported capex outgoings of €42.9m from its reserves during H1.

Losses for Q2 came in at €0.8m, including €36.8m relating to impaired Digital Gaming Corporation assets.

Chief financial officer Alinda van Wyk said the growth was down to a continued focus on key markets and significant progress in realising cost efficiencies.

Jump to:

Wynn CEO discusses Thai opportunity

UAE update: Al Marjan progress, customers and licensing

Record EBITDAR in Q2

Strong bottom line in H1

Wynn eyes up Bangkok?

Billings previously spoke about Wynn’s interest in Thailand after its Q1 results earlier this year. However, with a legal market edging closer, Wynn is already “active” on the ground in Thailand Billings said, mentioning Bangkok as a potential location.

“Yes, we would pursue it out of Wynn Resorts out of the US-listed entity,” Billings said on the call. “It’s still early days but there has been progress and it’s encouraging to see and it seems as though the legislators in Thailand really want to get this moving, which is great.”

The operator needs more details on the regulatory and licensing structures he said, although the market remains very attractive.

“You have amazing tourism infrastructure, a really strong service culture and a favourable operating expense structure available in that market. So, we’re continuing to monitor the process very, very closely and we’re active on the ground there.”

Wynn building for exciting future in UAE

Elsewhere and Billings also spoke about the progress Wynn made on its IR project in the UAE during Q2.

Due to open in early 2027, Wynn Al Marjan Island will be located in the Emirate of Ras Al Khaimah. It is set to cost approximately $3.9bn (£3.1bn/€3.6bn) and will be the first IR in the Middle East and North Africa (MENA) region.

New images and renderings for the project were released in May, while Billings revealed he recently spent several weeks in the region, saying construction is progressing “rapidly”.

“The building now stands just over 90 metres, which is already the tallest building in the Emirate,” he said. “During Q2, we contributed $357m of equity to our UAE joint venture. This included the purchase of our 40% pro rata share of all 155 acres of Island 3, the island on which Wynn Al Marjan sits.

“As a result, our joint venture now owns not only the land under Wynn Al Marjan, but also 70-plus acres of land for potential future development on the Island.”

The UAE also offered access to an international customer base, Billings continued. Europe would be an important market for the Wynn Al Marjan Island, although he also highlighted India as key.

“India is a huge market for this part of the world,” Billings said. “There are a lot of folks there. There’s a lot of wealth in India and that’s going to be an important market. There are other parts of Asia that are big markets for the UAE as well.

“I think the catchment area is probably larger than any other project that we have done, maybe akin to Vegas if you take into account the fact that Europe’s population is pretty substantial and the international airlift is incredibly strong.”

No progress on Wynn’s UAE licence

Billings went on to reiterate that the UAE is the most exciting new market for the gambling industry in decades. This has been helped by the creation of the General Commercial Gaming Regulatory Authority (GCGRA) as the federal regulator for the market he said.

He referenced last week’s news that GCGRA selected The Game LLC to run the UAE’s first national lottery. Billings said this will hopefully offer more “comfort” in regards to more progress in the UAE.

However, there was no progress on Wynn’s licence for the Ras Al-Khaimah.

“I assume that they will be moving forward to the next step in our licensure,” Billings said. “I don’t have a specific timeline for you, but you can see all the momentum that’s happening there.”

Revenue growth in Q2

Turning now to how Wynn performed during Q2, group revenue for the three months to 30 June hit $1.73bn. This is 8.6% more than in the same period last year.

Casino revenue hit $1.01bn, with rooms revenue at $304.5m, food and beverage $281.4m and entertainment, retail and other $138.1m. The latter was the only area to see revenue fall year-on-year.

Breaking down revenue by segment, operations in Macau – spanning Wynn Palace and Wynn Macau – drew the most revenue. Wynn Palace saw revenue increase 17.0% to $548.0m, with table games win percentage at 23.6% and VIP table games 4.1%.

As for Wynn Macau, revenue climbed 11.8% to $337.3m. Here, table games win percentage in mass market operations was 17.5% and VIP table games 2.2% – both lower year-on-year.

Turning to the US and Las Vegas operations drew $628.7m in revenue, a rise of 8.8%. Table games win percentage hit 21.9%, slightly below expectations and lower than 22.9% last year.

However revenue at Encore Harbor in Boston slipped 4.2% to $212.6m. Table games win percentage met expectations at 19.6%, although this was behind the previous year.

Record EBITDAR for Wynn in Q2

In terms of costs, total operating expenses were 8.8% higher at $1.46bn. However, revenue growth still meant operating profit in Q2 climbed 7.8% to $269.7m.

Wynn also noted $115.5m in non-operating costs, leaving a pre-tax profit of $154.2m, a rise of 17.0%. It paid $7.9m and discounted $34.3m in profit from non-controlling interests. 

As such, it ended Q2 with a net profit of $111.9m, up 6.4%. In addition, adjusted property EBITDAR increased 9.0% to $571.7m, a new Q2 record for Wynn.

“Our second quarter results, including a new second quarter record for adjusted property EBITDAR, reflect continued strength throughout our business,” Billings said. “I am incredibly proud of our teams in Las Vegas, Macau and Boston.”

H1 revenue up 19.1%

Looking at H1 as a whole, group revenue increased 19.1% to $3.60bn. Casino accounted for $2.13bn of this, with Wynn seeing growth in all areas, with the exception of entertainment, retail and other.

Operating costs jumped 14.0% to $2.96bn, with operating profit at $632.6m, up by 50.7%. Wynn also noted $281.9m in non-operating costs, leaving a pre-tax profit of $350.7m, a rise of 161.1%.

The group paid $27.9m in tax and took off $66.6m in profit from non-controlling interests. This meant it ended H1 with a $256.2m net profit, up 118.0%. In addition, adjusted property EBITDAR jumped 27.6% to $1.22bn.

UAE lottery leaders miss out on licence

Mahzooz operator Ewings, the UAE’s other leading lottery business, was quick to respond to the GCGRA decision awarding the UAE Lottery licence to The Game LLC. It said on Monday (29 July) that it would pivot into other gaming verticals. 

Emirates Draw, on the other hand, took a few days to respond. Like Mahzooz, it paused UAE operations from 1 January upon request from the GCGRA and submitted its application by the regulator’s deadline. 

“We respect and commend the UAE government’s dedication to establishing regulated gaming industry standards that protect consumers and ensure fairness and transparency,” it said. 

“In almost three years, we have awarded over $50 million in prizes to nearly one million players, while also supporting community initiatives and environmental causes. This commitment to making a meaningful difference fuels our passion every day.”

Emirates Draw launching AI-powered RNG draws

While it alluded to applying for a second lottery licence, Emirates Draw will also apply for licences covering other gaming opportunities. This would “expand our impact and further solidify Emirates Draw’s reputation as a leading global gaming entity”, it said. 

Earlier today (2 August) the operator announced it was committed to continuing its global operations. It is transitioning its weekly live draws to an “AI-powered random number generator”, which will ensure “the same level of fairness and transparency our players expect”. 

Emirates Draw will continue to run raffles, operated by companies such as Abu Dhabi’s Big Ticket and Dubai Duty Free, with its Mega7 prize updated to AED100,000. 

Second chance draw?

While Emirates Draw alluded to a secondary lottery licence, all reports and announcements from the UAE to date suggest only one is available.

A source close to the process did previously suggest to iGB that there may be scope for sublicensing. Others say there has been no mention of multiple licensees or sublicensing in numerous conversations with UAE gambling regulator the General Commercial Gaming Regulatory Authority (GCGRA), however. 

It may be the case that applicants can apply to operate in other verticals if they were unsuccessful in the lottery process, or sell UAE Lottery products. The GCGRA’s intake form covers sports wagering, internet gaming and lottery retailer licences. 

iGB understands there was an AED1m (£213,365/€250,708/$272,294) fee to apply for a lottery licence. Emirates Draw and Mahzooz both applied, as did raffle operator Big Ticket.

Two international lottery operators were credited with an interest in running the UAE Lottery. iGB has contacted each company for clarity.

Established in 2007, Sporting Solutions is a UK-facing business but also operates in Canada and South Africa, working with several major operators and lotteries including 888Sport, Ladbrokes Coral, SkyBet, William Hill and Norsk Tipping and Betsson, who have partnered with the platform for over 10 years.

Sporting Solutions will continue to provide services to its B2B betting partners, it said in a statement on LinkedIn.

The acquisition remains subject to regulatory approvals and certain other conditions. Once the deal gains the necessary clearance, as expected by both parties, the acquisition will close. Financial terms of the agreement were not disclosed.

Its the second B2B purchase for Betsson so far this year, after it bought Dutch games studio Holland Power Gaming and its B2C operation in February for €27.5m.

During the operator’s Q2 earnings call in July, CFO Martin Öhman insisted Betsson was prioritising M&A currently. “We are in a growth phase. We like M&A and, if you find good M&A opportunities, that’s kind of the first priority,” he said.

Acquisition a “strategic fit” for Betsson

Commenting on the deal, Jesper Svensson, CEO of Betsson operations, said it was a “strategic fit” for Betsson in helping it to improve revenue streams and create valuable business prospects.

“We are excited to welcome the Sporting Solutions team to Betsson Group,” Svensson said. “This acquisition is a strategic fit, providing us with quality technology that is already integrated into our sportsbook product.

“It complements our sportsbook B2B strategy, strengthening the flexibility and scalability of Betsson’s sportsbook offering. Both are key factors in the success of our B2B strategy.”

In its statement FDJ highlighted a strategic refocus of international activities via both its B2C and B2B2C operations across lottery, sports betting and online gaming markets. 

FDJ also clarified that Betsson would acquire the platform’s price setting and risk management activities. It does not, however, include the sports betting managed services operated by FDJ for lottery operators.

Positive performances by Betsson and FDJ

The acquisition deal comes on the back of both Betsson and FDJ reporting positive results for Q2 and H1, respectively.

In the case of Betsson, a 25.4% year-on-year increase in active players drove revenue, net profit and EBITDA.

Revenue from sportsbook activity in Q2 climbed 12.8% to €78.4m, a 12.8% year-on-year rise. This offset Betsson’s weaker segments, including poker and bingo, which made up the remaining €2m, down 13.0%.

As for FDJ, group revenue increased 10.8% to €1.43bn in its first half. Focusing on sports betting and online poker, revenue was up 14.5% to €294m, but the group noted how the Euro 2024 football tournament fell short of expectation in the latter part of the period.

Incidentally, the Sporting Solutions sale is the latest M&A activity at FDJ. Last year, the group acquired both Premier Lotteries Ireland (PLI) and Zeturf, with both deals having an impact in H1. FDJ said the two acquired businesses helped digital revenue up 39.8%.

This came as a surprise considering two established lottery operators in Emirates Draw and Mahzooz were competing for the licence, while The Game has not launched any products. Both companies suspended operations from 1 January this year before submitting applications. 

While Emirates Draw has not yet commented publicly on the decision, Mahzooz parent Ewings says it is now planning “exciting new ventures”, promising more details soon. 

“We take this opportunity to thank our customers for their patience and unwavering trust in Mazhooz and we invite them to closely follow our upcoming news.”

“Disappointing decision” in UAE lottery licence race

After issuing an invitation to apply to prospective lottery licensees in late December, companies had to submit their bids early in January. In February Ewings head of communications Suzan Kazzi told local media the operator hoped for a decision by the end of Q1. However it took until July for the GCGRA to select The Game. 

During this suspension Ewings focused on developing its products and internal systems to become the UAE Lottery operator, retaining all staff. 

It also worked on customer research, speaking to customers to better tailor Mahzooz for consumers and fielded a lot of questions on when it would relaunch, a spokesperson told iGB. 

“While this delayed decision is indeed disappointing, especially that we kept our workforce at full capacity for the past seven months in anticipation of a positive decision, we respect the selection process and the government’s commitment to setting standards within the industry,” it said. 

Ewings talks up Mahzooz’s impact

Mahzooz originally launched in 2020 as Emirates Loto, offering collectable tickets featuring local landmarks, although it paused operations just three months later. 

It relaunched as Mahzooz in 2021 and since then has run 161 live draws, creating 66 millionaires and awarding over AED500m (£106m/€126m/$136m) to more than two million players. 

“Simultaneously, Mahzooz has also been a force for good in the UAE, contributing to several good causes in healthcare, education, the environment and more, and contributing significantly to various charitable causes,” the operator added. 

Currently there is no timescale for The Game launching the UAE Lottery. The GCGRA said it was unable to comment beyond the original announcement issued yesterday. 

However, the regulator’s website now confirms the full board of directors, as well as the C-level executives across all key functions. This comes after it made its first big call, selecting The Game LLC to run the UAE Lottery.

Who’s on the GCGRA board?

Former MGM Resorts chief executive Murren chairs the board and it features a number of recognisable industry names. 

Nick Casiello

A lawyer who previously led Fox Rothschild’s gaming practice, he co-founded International Masters of Gaming Law (IMGL) and serves as a member of the International Association of Gaming Advisors (IAGA). 

William Grounds

Formerly president and COO of Dubai-owned Infinity World Development Corp, which was involved in the development of CityCenter Las Vegas, Grounds also sat on the MGM Resorts board and is a director of PointsBet.

Mark Lipparelli

The former Nevada Gaming Control Board chair also serves as chairman of Galaxy Gaming and casino operator Golden Entertainment. 

Giovanni Lega

Founder and managing partner at the law firm LCA, Lega has been involved in M&A, real estate and gaming transactions. 

John Kelly

A partner at London law firm Harbottle & Lewis, Kelly is described as an expert in reputation protection, privacy, data protection and defamation, representing high-profile clients and companies around the world. 

Chris O’Donnell

A real estate and investment specialist, O’Donnell is currently managing director of CNN Advisory. He previously served as a director of CityCenter Holdings in Las Vegas.

The board has already visited the site of Wynn’s development in Ras Al-Khaimah, iGB understands.

The executive team at the UAE gambling regulator

Also confirmed is the GCGRA’s executive team, led by chief executive Kevin Mullally who took on the role in September last year, after leaving Gaming Laboratories International. 

The C-suite is made up entirely of executives who have previously served in key roles for high profile Abu Dhabi institutions. 

Ahmed Barakat, chief operating officer

A former banker who has worked at Credit Suisse, Merrill Lynch and the Abu Dhabi Commercial Bank.

Manuela Croci, chief of supervision, investigations, FCP

Previously served as head of internal audit and compliance at the Abu Dhabi Department of Economic Development.

Ourouba El Arab, general counsel and board secretary

El Arab also worked for the Abu Dhabi Department of Economic Development, as well as First Abu Dhabi Bank.

Leina ElBarasi, chief financial officer

Previously head of budgeting and planning for Abu Dhabi Media Company.

Carlos Gutierrez, chief information officer

Worked as general manager for TEC Evolution Technology Services, which provides solutions for sectors including banking, aerospace and healthcare among others.

Dina Helal, chief human resources officer

Helal has worked for a number of banks, most recently First Abu Dhabi Bank as SVP and head of employee relations and policies.

Who is the new UAE Lottery operator?

Which other companies were bidding for the lottery licence?

What’s next in the UAE’s gaming expansion plans?

GCGRA chairman Jim Murren said the launch of the UAE Lottery is “a pivotal event that not only marks the establishment of a disciplined world-class regulatory framework for lottery activities but also underscores our commitment to nurturing a secure and enriched commercial gaming environment in the UAE.”

The Game LLC is the first business licensed by the GCGRA, the UAE’s federal regulator established in September last year.

Who is the new UAE Lottery operator?

There is little online about The Game LLC, however. The GCGRA describes the business as “a commercial gaming operator specialising in game development, lottery operations and gaming-related content”. 

It is a subsidiary of Momentum, an Abu Dhabi-based business that claims expertise in mobile games development and publishing, virtual reality, igaming and esports management. 

The company has not yet commented on the licence award and it remains unclear when it plans to launch the UAE Lottery.

“The GCGRA is steadfast in its commitment to global best practices in consumer protection and regulatory oversight,” the regulator’s chief executive Kevin Mullally said. “Our regulatory framework is designed to ensure the integrity, fairness and transparency of commercial gaming activities in the UAE, which include lottery games.

“It also provides consumers with a comprehensive set of tools to monitor and manage their gaming activity. Additionally, we are leveraging new technologies to foster the creation of safe, entertaining games and drive consumer-focused innovation.”

Those regulations governing the UAE Lottery are not yet publicly available. However executives close to the process say payout rates are set between 40% and 60% of ticket sales. An “interesting single digit” tax will be applied to revenue, alongside the UAE’s 9% corporation tax. 

The Game will also pay a licence fee, described as high but justifiable for a 10-year licence by one source.

Emirates Draw and Mahzooz miss out on UAE lottery licence

Most striking about the announcement is the fact the UAE’s two most prominent lottery operators – Emirates Draw and Mahzooz – were not selected to run the national lottery. 

Each company paused operations at the GCGRA’s request and submitted applications, spending the time either enhancing their internal systems or operating in other markets. 

The invitation to apply – alongside a request to shut down operations – was issued in late December, with the submission deadline in early January. Sources close to each business suggest they did not expect the shutdown to last so long, although one suggested this was down to cultural sensitivities and making sure the process was as thorough as possible. 

Each operator suggested their experience of the market and existing player base positioned them better than any other for the licence. iGB has approached both companies for comment.

What of the UAE’s raffle operators?

The GCGRA notes engaging in, conducting or facilitating commercial gaming opportunities without its approval is “illegal and exposes offenders to severe penalties”.

This raises the question of whether raffles, popular through operators such as Abu Dhabi Duty Free’s Big Ticket and Dubai Duty Free’s Millennium Millionaire, will be permitted. As these essentially operate in ‘free zones’, it is unclear whether they would be superseded by the UAE Lottery.

Big Ticket continued operations until April, when it paused draws following a request from the regulator. However draws resumed in June, according to Alarabiya News. Dubai Duty Free has continued raffles throughout the process.

Next on the agenda for the GCGRA

With a lottery licence issued, the GCGRA has two other major projects to work on, namely the licensing of integrated resorts and the launch of a regulated igaming market.

For land-based, construction is under way at Wynn’s Ras Al-Khaimah resort, although it remains unclear when it will receive its licence.

Wynn CEO Craig Billings described the UAE as the “the most exciting new market opening in decades” following the operator’s Q3 results announcement last November. With other operators still finalising plans to break ground on their own resorts, he expects Wynn to have first-mover advantage for a number of years.

In terms of where the other resorts may ultimately appear, it’s currently not clear. Dubai, where MGM Resorts has a non-gaming development, is not participating.

This means Abu Dhabi – where the GCGRA is based – is most likely to announce plans next. MGM Resorts’ CEO, Bill Hornbuckle, has confirmed the operator’s interest in the market, while sources suggest the likes of Caesars or Macau concessionaires may join the fray.

Today (28 July) the GCGRA also unveiled its full board of directors and executive team. Find out who’s who here.

“This is our most ambitious acquisition to date, by value, size and complexity,” EveryMatrix chief executive Ebbe Groes commented.

“This transaction facilitates our long-term growth strategy of entering and growing within a greater number of regulated markets, including the UK, Ireland and Africa, where many FSB clients operate.

“It also allows us to accelerate this process, diversify our customer and revenue profiles, while simultaneously migrating customers to a stronger, high performing product proven to deliver exceptional results.”

EveryMatrix will deploy OddsMatrix products to enhance FSB offering

As well as incorporating key FSB features into OddsMatrix including what it describes as “one of the strongest horse racing products among sportsbook providers” it will also roll out existing OddsMatrix products to FSB customers.

The OddsMatrix sportsbook and odds feeds will be available to these clients, while they will also be able to take advantage of EveryMatrix’s suite of modular products including casino games, an aggregation platform and payments soutions, among others.

OddsMatrix delivered a number of complex turnkey solutions to leading operators in 2023, including Bet-at-home and the Hungarian national lottery company’s (SZRT) online brand TippmixPro.

Tier 1 operator Bet-at-home went live with the full EveryMatrix tech stack in Germany in October 2023 following the earlier migration in February of millions of players within its MGA-licensed business.

FSB was founded in 2007 by Sam Lawrence and David McDowell. McDowell stepped down from the CEO role in December 2022, while Adam Smith took over as fulltime CEO in March 2023.

On the deal, Smith said: “FSB has achieved a lot over the last 18-20 months including expansion into new markets and launching innovative propositions. Joining together with EveryMatrix represents another major milestone for FSB.

“We are delighted and excited by the new opportunities this deal could create, through the sharing of our unique capabilities as well as accelerating the growth of FSB’s existing partners.”

EveryMatrix hit record earnings in Q1

EveryMatrix hit a record net revenue high of €39m (£33.5m/$42.0m) for Q1, marking a rise of 66% on the previous year.

EBITDA margin also hit a record high at 57% for the quarter, up from 45% in Q1 2023. The company said this was due to client launches, improved sports trading margins and continued growth in its casino segment.

OddsMatrix saw GGR quadruple year-on-year during the period to €96m, while sports turnover rose 30.9% to €1.29bn. Sports net revenue was up 77.9% to €10.5m.

Israel-headquartered Playtika again issued promising figures from its direct-to-consumer (DTC) segment in Q1 2024. DTC platforms generated revenue of $171.5m, which was up 6.1% sequentially and 13.2% year-on-year.

While Playtika did not confirm revenue from third parties, this was its largest segment in 2023 despite a 4% drop. This was the primary driver of the NASDAQ-traded group’s overall decline last year.  Playtika has been struggling to accelerate revenue growth above the rate of outgoings since 2022.

Average daily paying users of 309,000 increased 1.0% sequentially and decreased by 5.2% year-on-year. Average payer conversion of 3.5% was flat versus the prior quarter and down from 3.6% in the prior-year period.

Playtika’s sales and marketing surge

Taking all income into account, Playtika saw net income of $53.0m, which was down 36.9% year-on-year. However, that figure was up 42.1% sequentially.

Cost of revenue was down to $177.0m, while sales and marketing grew by almost $50m to $190.4m. Total costs and expenses were up 9.9% to $553.1m.

Credit-adjusted EBITDA of $185.6m decreased by 1.7% sequentially and 16.7% year-on-year.

For the full-year 2024, Playtika expects revenue to be within the previously provided range of $2.52bn-$2.62bn. Credit-adjusted EBITDA is expected to still be within a range of $730m-$770m. Meanwhile, capital expenditures should be within a range of $110m-$115m.

Playtika CEO backs restructuring plan

Robert Antokol, Playtika’s chief executive officer, said the business is taking steps to return to growth.

“We are fully committed to execution, building on our operational advancements,” said Antokol. “The actions we are taking, including restructuring our executive team and streamlining leadership, are designed to position us to return to growth in the mobile gaming sector. This enhances decision-making and creating potential for increased value for our players and shareholders.”

Meanwhile, Playtika has declared a cash dividend of $0.10 per share of outstanding common stock, payable in July 2024.

Playtika’s board also has authorised a stock repurchase programme for up to $150m of Playtika’s common stock. The programme is intended to provide the company with the ability to offset the dilutive effects of equity awards.

“Our D2C business continues to show strength, driven by our focused efforts on player retention and the longevity of our players in our games,” said Craig Abrahams, president and chief financial officer.

“Additionally, our inaugural share repurchase authorisation is consistent with our previously announced capital allocation principles. This emphasises our ongoing commitment to delivering shareholder value.”

Playtika added several assets to its portfolio last year. In September 2023, Playtika completed its $300.0m acquisition of Innplay Labs. In August, it closed its purchase of the Youda Games portfolio of content from Azerion.

Construction on the casino, which will be Wynn’s first beachfront resort, began in early 2023. The resort will include 1,542 rooms and suites, including 22 private villa estates. There will also be 22 lounge, dining and bar experiences, as well as a theatre.

Additionally, the venue will feature a 15,000sqm shopping esplanade, a five-star spa and a 7,500sqm meetings and events centre.

Todd Lenahan, president and chief creative officer of Wynn’s design and development sector, believes the Wynn Al Marjan Island could become a huge attraction for the region.

“We designed the 300m-tall resort tower with Ras Al Khaimah’s historic role as a great navigational sentinel in mind,” Lenahan said. “We hope this becomes a new landmark, a new beacon, for travellers to Ras Al Khaimah from across the globe.”

Wynn looking to tap into UAE casino potential

Gambling in the UAE is currently a criminal offence. Anyone found to be doing so is potentially subject to a two-year prison sentence and an AED50,000 (£10,859/€12,650/$13,615) fine.

However, in September the UAE state-run news agency WAM announced the creation of the General Commercial Gaming Regulatory Authority (GCGRA). The GCGRA will devise a regulatory framework for commercial gambling and national lottery in the UAE.

Wynn chief executive Craig Billings, previously stated the UAE was the most exciting market opening in decades. In the company’s announcement of its 2023 financial year results, Billings further talked up the opportunity.

“We have a substantial growth opportunity in the UAE that will further diversify our portfolio and expand our brand into new markets,” Billings said.

Wynn hoping to build on Macau success

Wynn has somewhat of a first-mover advantage in the UAE, despite not yet being issued with a licence. Billings previously claimed Wynn’s Ras Al Khaimah licence would be issued “imminently”.

Wynn also has previous experience in Asia. Macau proved hugely important in the company reporting a 73.9% revenue increase to $6.53bn for its FY2023. Operations in Macau were responsible for $3.10bn of Wynn’s revenue for the year, $910.6m of which was generated in Q4 alone.

Wynn Macau, which has around 294,000sqft in casino space, and the 1,706-room integrated resort Wynn Palace, have both flourished since the scrapping of Covid-19 measures in Macau.

During Wynn’s FY2023, Wynn Palace was responsible for $1.89bn in revenue, while Wynn Macau accounted for $1.21bn.

As the online casino games segment there remains largely uncharted territory for many, our seventh Slot Trumps report serves as an essential primer, shining a light on key trends and player behaviours.

Internet penetration in Nigeria

The Nigerian market is generally characterised by lower internet penetration (42%), compared to the previous markets in our Slot Trumps reports, with an average of 89% in Europe and 68% in LatAm markets.

Nigeria also showcases lower bandwidth both compared to African markets, ranking towards the lower end among the 15 leading markets on the continent, and when compared to previous igaming markets we have analysed in Europe and LatAm.

This trend, however, is rapidly reversing with Nigerian mobile internet users increasing 20% in 2024 compared to 2023, according to Statista.

This creates a particular setting for the igaming industry in Nigeria. First, operators need to look towards lightweight online casino games. These need to be optimised for low data consumption, and work with limited network speeds. It’s also essential to cater for lower-end devices and browsers, ensuring audiences are kept entertained without latency.

Our internal data confirms that game providers choose different approaches to tackle this particularity. Some, for example, offer games with and without sound to decrease the size of the game. Others choose to focus on creating games for African markets that are smaller in size from the very start.  

Slot Trumps Nigeria: Early-stage player behaviour

So, does this impact player behaviours in Nigeria? We take a detailed look in our Slot Trumps Nigeria report.

Within our early-stage data in Nigeria, we observed some unique player behaviours and wagering trends. One that stands out is that players generate the lowest average bet of our series so far across the top 20 games within our SlotMatrix network.

According to our Slot Trumps Nigeria report, players spend an average of €0.24 per spin across the top 40 games. This is markedly less than the global average bet of €1.

Correlated with their preference for low volatility games, Nigerian players have yet to transition their real-money habits from sports betting to online casino.

This can be correlated with the market’s current levels of internet penetration and bandwidth. It may well be that when these areas improve for the general population, the appetite for online casino games will gain increasing traction.

Despite the lower than average spend per spin, bonus features hold plenty of interest. This can easily convert players across verticals. In-game free spins (55% of top 20 games) are a great example. The same for jackpots (35% of top 20 games). We also recommend looking at more enticing options such as buy features.

As the most common bonus feature, in-game free spins offer Nigerian players more in-game time, which can be correlated with the large number of sessions within our 90-day dataset timeframe.

As the market develops, we anticipate that lower average bet sizes will also be boosted considerably. This will be driven by more online casino brands, more vendors and a far greater range of content.

Slot Trumps strategies to gain instant Nigeria market share

Tailoring content to local tastes and behaviours is paramount for success in Nigeria. Get this right, and the market will hold great potential. As things stand now, however, operators also need to consider content localisation in terms of game mechanics and size.

They also need to opt for a mobile-first strategy to ensure audiences enjoy the best possible online casino experiences. Of course, the constraint there is the market’s technologically limited framework. However, if you focus on that now, you will also be preparing for the market of tomorrow.

Want to know more? Our SlotMatrix experts can help operators aiming to launch in Nigeria or expand operations. We will help develop the optimal content mix to drive early revenues and capture instant market share.

Understanding the Nigerian online casino player

As the industry’s largest igaming aggregator, EveryMatrix holds the data and access to early-stage player behaviour trends. This helps our partners understand player preferences and cultural nuances before entering new markets. Nigeria, of course, is a key example of this.

Access to this data is as vital as it can be surprising. For example, among the top five most popular game themes in Nigeria is Asian themes, alongside Classic, Animals, Fruits and Action.

In markets such as Nigeria, flexibility is crucial as player behaviour and trends rapidly evolve. Remaining agile to capitalise on the market’s opportunities should involve adapting your content offering. You should also think about how to add more layers of excitement and fun for local audiences. Gamification is a great example. Player engagement with gamification tools such as tournaments and tiered challenges are easy wins for acquiring more local players.

South Africa is without regulation when it comes to online gambling, despite a bill being on the table since 2008. The National Gambling Amendment Act, which regulated online gambling, was assented to by the president 16 years ago. However, the bill remains unsigned.

By introducing the new bill, the Democratic Alliance says this will fill a “legal gap” within the gambling industry. The party adds the bill took two years to construct and finds the “perfect balance” between protection, regulation and administration.

“By not regulating this gambling activity, the erosion of the rule of law and criminal activity is being encouraged, while the public is not effectively protected as they are when using land-based gaming operations,” the Democratic Alliance said.

“At the same time, a lack of regulation is resulting in revenue worth billions of rand and jobs being lost to other gambling jurisdictions.

“The ANC government has shown, over these 16 years, that it has no intention of protecting players and the industry from criminal elements. We have therefore taken it upon ourself to ensure adequate protection by means of introducing this private member’s bill.”

What does the Remote Gambling Bill propose?

Taking a closer look at the bill, it sets out the three types of licences. These include a remote gambling operator licence, a manufacturer, supplier of maintenance provider licence and an employment licence.

All licence applications can be sent to provincial licensing authorities. However, the National Gambling Board will have the final say on issuing licences. Provincial authorities will also support the board by monitoring activity and taking action over any unlawful operations.

Licences will be made available to all parties, including those who already hold other types of gambling licences in South Africa. All applications will be reviewed in depth before any decision is made.

The bill also notes that licences can be suspended or even withdrawn if the holder breaches their licensing conditions. Holders can also apply to surrender their licence or transfer it to another party. Such requests would be at the discretion of the board.

No information was set out as to how much licences will cost. The bill also did not make reference to tax rates for online gambling.

As for other regulations, remote gambling would only be available to those aged 18 or over in South Africa. 

Operators would not be permitted to extend any credit to players, while consumers could opt out of gambling via a self-exclusion scheme. As a further protection measure, licensees should offer players access to other responsible gambling tools including deposit limits.

Advertising would also be governed by a strict set of rules. These include online gambling adverts must not misleading and should include responsible gambling messaging. 

What are the bill’s chances?

Since the end of apartheid in 1994, the ANC has dominated the political landscape in South Africa. It is the ruling party in the national legislature and in eight of nine provinces, with the exception of Western Cape that is governed by the Democratic Alliance.

However, the situation could change during the upcoming national and provincial elections on 29 May. 

Polling suggests the ANC could fall below the 50% mark, meaning it will not hold a majority in parliament. As such, it will no longer be able to automatically pass or reject legislation at its own will. This could improve the chances of the new Remote Gambling Bill passing.

“It is bills like the Remote Gambling Bill which are vital to protect the most vulnerable people,” the Democratic Alliance said. “With the ANC below 50%, we can say that this will be the first of many bills introduced to rescue South Africa.”

Supporting growth in South Africa

Earlier this year, Caroline Kongwa, chief strategic adviser for the National Gambling Board, spoke with iGB about the situation in South Africa.

Kongwa referenced growth opportunities in the emerging market of South Africa. She also spoke about technology and managing problem gambling in the country during the video interview.

To view the interview in full, please click here.

Mchezo Ltd’s Olabimpe Akingba pointed out this has resulted in a growing igaming sector in a recent deep dive into the market, and the latest EveryMatrix Slot Trumps dashboard shows what an engaged player base Nigeria offers. 

Slot Trumps Nigeria: Know your customer

It’s important to note Nigeria is very much an emerging market, something reflected in particularly low average bet sizes. Across the top 20 games tracked by EveryMatrix, stakes average around €0.14, the second lowest in the Slot Trumps series to date after Germany. 

However it’s an engaged audience. With 14 average sessions per player in a 90-day period, Nigerian players spend more time spinning the reels than any other market featured in Slot Trumps so far. 

They’re playing more, but placing fewer bets, the dashboard shows. With 69 bets per session across the top 20 on average, it’s a similar level to Colombia’s average of 75.

What games are Nigerian slot customers playing?

For the first time in the EveryMatrix Slot Trumps series, classic themes are top of the slots, with 4% of the most popular games featuring these themes. 

Like many Latin American markets featured to date, animal-themed games also perform well while, similar to Brazil, Asian titles are a (surprisingly) popular option. 

And in a market of frequent players, free spins come out on top as the most popular bonus mechanic. This, EveryMatrix says, correlates with the high number of average sessions; more free spins means more gaming time. Low volatility slots also perform better among Nigerian bettors, making it the lowest-volatility market in the series so far. 

Click here for the full Slot Trumps Nigeria dashboard. 

Looking closer at Nigeria’s data reveals a hugely youthful population, with figures from the World Factbook outlining that approximately 41% of people in the country are aged between 14 and under, with the average age of a person in Nigeria just 19 years old.

Taking those demographics aspects into account it’s clear to see why there is excitement over how Nigerian gambling can grow with its population to challenge South Africa at the top of the African industry.

The “huge” potential in Nigeria

With a youthful population that has a strong interest in sports, Nigeria’s gambling market has gone from having largely just local operators to now seeing some international brands making an entry, including Betano and Betway.

Olabimpe Akingba is a legal practitioner with over a decade of experience in gaming, serving as the executive secretary of the Association of Nigerian Bookmakers between January 2020 and February 2024.

Akingba is excited by the growth of the Nigerian gambling market, particularly in the online space, where increases in internet penetration in recent times have provided a big boost.

Akingba believes Nigerian gambling will continue on its upwards trajectory, saying: “We know that in Nigeria, the gaming industry continues to have huge potential.

“The growth of technology has contributed immensely to the development of the Nigeria gaming market. Now we see a lot of competition in the igaming space, which has also shaped the industry.”

Ongoing regulation battle threatens to slow growth

That’s not to say there aren’t obstacles for Nigerian gambling to overcome, however. Perhaps the most prominent of those is the current regulatory system, with the presence of both a federal regulator and state regulators causing tension.

The National Lottery Regulatory Commission (NLRC) regulates gambling at the federal level, although some state regulators refuse to recognise federal licences issued by the NLRC.

A long-running dispute between the NLRC and state regulators has also reached Nigeria’s Supreme Court, with disagreements on whether federally licensed operators must also obtain state licences. However, it’s unclear exactly when a ruling will be made.

For Opeyemi Osilojo, whose time in Nigeria’s gambling industry included nearly three years spent as brand manager at Parimatch, the regulation troubles are one of the core challenges he identifies to growth of the market. Osilojo cites the US, where states are able to establish their own regulations without federal oversight, as the kind of “clear-cut” regulatory system the operator-side is looking to have.

“Each state wants to regulate betting as they seem fit,” Osilojo says. “The challenge is that the federal government also wants to regulate the space because of revenue.

“At the moment what is obtainable is a working agreement just so that the industry doesn’t collapse and both states and the federal government get something from that thriving industry. But in terms of reaching a definite working plan, the case is still in court on how you’re going to pay for licences and some other stuff like that.”

Harmonisation is crucial

Currently, all operators in Nigeria are mandated to gain a licence with the NLRC, although Nigerian law doesn’t mention online gambling. Operators with federal licences for land-based offerings may still have to get a state licence, while online companies licensed with the NLRC are free to operate without a state licence.

The key resolution for Akingba is increased collaboration between state and federal regulators to work together and allow Nigerian gambling to fulfil its evidently huge potential.

“The way forward is harmonisation of regulations as the federal and state regulators need one another,” Akingba explains. “There is need for collaboration to properly regulate the industry.

“However, as it is right now, the challenge it poses is the burden of ensuring compliance with multiple licences for federal and state, which is burdensome on the activities of gaming operators in Nigeria.  

“Secondly, the challenge has many financial implications as national and state licences are subject to licence renewal fees and monthly gaming tax, which is why we see more operators preferring to conduct their activities online and dealing solely with the national regulator.”

Lagos to be at the forefront of Nigerian gambling

Lagos is Nigeria’s biggest city with a population of more than 20 million. Its regulator, the Lagos State Lotteries and Gaming Authority (LSLGA), has been at the heart of the dispute between state and federal regulators.

Bashir Are, the LSLGA’s chief executive, hopes the Supreme Court case will be resolved by the end of 2024. Despite the ongoing court battle, Are believes Nigerian gambling is on an upwards trajectory thanks to the youthful population and the advancement of technologies such as fintech.

While Are doesn’t categorically say Nigerian gambling is bigger than South Africa’s market, which at one point accounted for nearly half of all African gaming, he believes it will one day surpass it as Africa’s top market.

Are believes the LSLGA’s regulatory system is on a European-standard level, highlighting its work with the Malta Gaming Authority (MGA), as well as with regulators in Cyprus and the UK.

“Lagos is the benchmark,” Are declares. “It’s very open and transparent. It’s easy to come in and start your business in Lagos.

“Lagos is a country of its own, with highly educated people and internet very much available. It’s also the entertainment capital of Africa, so it’s highly promising, especially with the first esports arena in West Africa being in Lagos.”

BetKing one of the leaders

BetKing is the Nigerian operating business of KingMakers, a sports betting and entertainment group that also covers other African countries such as Ghana and Kenya.

In early April, BetKing announced a deal with Genius Sports to offer its in-play content in Nigeria for sports such as football and basketball.

Onu Abraham is corporate communications manager at KingMakers, and he sees BetKing as one of the top three players in Nigeria’s gambling market.

For Abraham, BetKing’s innovation will allow it to further consolidate its spot at the top of Nigeria’s gambling industry, saying: “BetKing is staying competitive in Nigeria by innovating their offerings and enhancing customer experiences.

“Recently, the company partnered with payment gateway platforms like PalmPay and Paga for smoother transactions and consumer experience. Their focus on responsible gambling and collaborations with local sports groups further solidify their position in the market.”

Will casino stop stagnation in Nigeria?

Innovation from the likes of BetKing should help to further grow Nigeria’s gambling market, which Osilojo felt was in danger of stagnating, with operators taking customers from the same pool due to product offerings largely staying the same.

“It will keep growing,” Osilojo explains. “I think also one of the major things is that I think there was a stagnation in innovation. Everybody was basically selling the same thing. If your unique selling point wasn’t odds, your unique selling point was how fast that you pay, it will be about the efficiency of your platform.

“But in terms of the products that we had, there was nothing customised. Everybody was selling the same thing, so that in itself did not give anything interesting to the customers.”

In Osilojo’s view, casino could provide further help against potential stagnation, citing growth in that sector during the Covid-19 pandemic and the halting of sporting events as one of the reasons for its development.

“I think there has been growth in casino in the Nigerian space,” Osilojo continues. “In some businesses I’ve spoken to, when I started in 2015, casino was contributing, let’s say, 4% to your revenue. Some people have up to about 12%-18% at the moment.”

Black market a concern

Alongside regulatory issues, the presence of illegal operators in Nigeria remains a concern, despite the wide availability of product offerings.

For Abraham, he feels the popularity of the black market varies on regulatory enforcement and market dynamics, although he also says actions are being taken to clamp down on illegal operators.

“The black market remains a concern in Nigeria’s gambling sector,” Abraham explains. “Efforts to address this issue include strengthening regulatory frameworks, promoting responsible gambling and fostering collaboration between industry stakeholders and regulators.”

In Akingba’s view, it should somewhat fall on regulators to make taxation favourable enough to encourage them to avoid straying into the black side of the market.

“It is crucial for regulators to take into account the impact of tax policies on the gaming industry,” Akingba says.

“By considering this factor, they can ensure that licensed operators remain profitable and that the channeling rate, which directs customers towards licensed operators, remains high. This way, the industry can thrive while promoting a safe and regulated gaming environment.”

In October 2023, the LSLGA issued banning orders to a group of operators offering gambling without a licence.

Additionally, Are says the LSLGA is looking for increased collaboration with other bodies to aid its attempts to halt the black market.

“We are working with the national communications bodies and financial fraud units so that we can block them and go after them beyond Nigerian borders.”

Nigeria’s elephant in the room

Nigerian gambling looks set for an exciting future, with Abraham highlighting aspects such as technological advancements, increasing internet access and a population with a strong interest in sports.

Akingba is also encouraged by the growth she is seeing and she is confident that Nigerian gambling will continue to show short-term improvements in innovation and gaming experiences, while also holding faith that there’ll be a regulation solution soon.

“In the near and longer term I hope to see harmonised regulations in the Nigerian gaming industry,” Akingba explains. “The focus will likely be on preventing double taxation and I have a strong belief that this resolution will happen sooner than expected.”

In Osilojo’s view, the aforementioned youth-dominated demographics offer a huge opportunity for growth.

“The starting age for betting is 18 and you have a lot of people within the space,” Osilojo says.

“The country already has it. You just need the right resources and the right mechanics to reach those people.”

So, while the metaphorical elephant in the room of the ongoing regulation battle is certainly still present, with a supreme court resolution potentially coming by the end of the year, Nigerian gambling looks set to continue on its upwards trajectory.

Looking across the business, there are mixed results for Sun International. While income was higher in some segments, this was not the case for other areas of the group. Stand-out highlights include a record performance by SunBet and a 14.8% hike in income from its Sun City casino.

In contrast, there were declines across several of its casino properties, with slots operations having been impacted by “load shedding”.

However, it was a good year for the group, which in December expanded its portfolio with the acquisition of Peermont. The deal, which includes the flagship Emperors Palace resort and online brand PalaceBet, is worth ZAR7.30bn. Sun says the purchase may close before the end of the year.

“The performance reflects the quality of its operating businesses, the resilience of its omnichannel portfolio and disciplined execution on strategy which continues to drive shareholder value,” Sun said.

“We are executing effectively on our omnichannel strategy and are focused on extracting further operational efficiencies as we look to protect and grow our income and margins.”

Positive signs for Sun International in 2024

The group added that while the wider economy and load shedding is placing pressure on its urban casinos, trading levels at the start of 2024 have improved. Again, it noted the success of SunBet.

“Our limited pay-out machines operations are demonstrating continued resilience,” Sun said. “SunBet is achieving significant income growth and is exceeding key performance indicators. This strong momentum is expected to continue with another substantial increase this year as the business expands rapidly. 

“Our resort and hotel properties have continued to perform exceptionally well and we anticipate another good year from them in 2024. Overall, we are seeing positive growth in both income and adjusted EBITDA.”

Sports betting and tables growth offsets slots decline

Breaking down the 2023 results, gaming was the main source of income at ZAR9.29bn, up 3.2%. 

Slots remained the main source of income at ZAR5.51bn, but this was 2.8% lower than the previous year. However, tables income was up 5.9% to ZAR1.59bm and income from the Sun Slots and SunBet brands also jumped 1.9% to ZAR2.19bn.

As for other revenue from non-gaming operations, this increased 21.7% to ZAR2.81bn. Sun said rooms revenue was up 32.6% to ZAR1.13bn, food and beverage revenue 14.9% to ZAR986m and other revenue 13.7% to ZAR591m.

In terms of individual operations, GrandWest casino drew the most income at ZAR1.88bn, a 3.0% increase. Sun City followed on ZAR1.87bn then Sun Time Square at ZAR1.51bn.

Other stand-out figures for Sun include the record ZAR733m generated by SunBet. The Sun Slots brand also had a good year with ZAR1.47bn in income, although this was 2.7% down from 2022’s total.

Net profit up 62.1% in 2023

Turning to spending, costs were higher across several areas for Sun. The main outgoing for 2023 was employee expenses at ZAR2.31bn, up 7.6% year-on-year. Levies and VAT on casino income also increased 2.6% to ZAR2.20bn.

However, this did not stop Sun posting an improved operating profit, with this rising 2.5% to ZAR2.50bn for the year. Even after including other, finance-related costs, pre-tax profit was 29.4% higher at ZAR1.77bn.

Sun paid ZAR555m in total tax and also accounted for ZAR79m in negative foreign currency translation and ZAR22m related to fair value on listed shares. As such, this resulted in a total comprehensive net profit of ZAR1.30bn for 2023, up 62.1% from the previous year.

In addition, group adjusted EBITDA for the year was 2.4% higher at ZAR3.40bn.

“Our balance sheet remains strong and positions us to continue delivering industry-leading cash returns to shareholders,” Sun said. “While we anticipate that the proposed acquisition of Peermont may be concluded this year, we do not expect it to have a significant impact on our 2024 financial performance. 

“In the meantime, we will be focused on comprehensive integration planning and positioning the combined group to deliver earnings and cash flow accretion with comfortable levels of gearing immediately post completion.

“Leveraging off our current momentum and proven leadership, we are confident our strategy will continue to yield exceptional results.”

SportLocker, which has links to Saudi Arabia’s burgeoning sports programme, previously announced plans for club acquisition, sponsorship and media partnership programmes – focussed on UK football and the US Major Soccer League (MSL).

Austin-based Lottery.com said in a statement that it would acquire S&MI, the owner of SportLocker, in a stock-based deal. The deal comes after announcements in recent days relating to the issuing of 20m shares (totalling $100m) and “a substantial expansion” in fundraising. The latter includes commitments from new and existing investors rising to $5m from $1m.

No mention of betting

The Sports.com platform will first roll out in the US and Europe, along with dedicated efforts in the Middle East. It aims to combine sports news, live streaming and content such as documentaries and films. Despite Lottery.com’s links to gambling, there is no mention of sports betting being included on the new Sports.com platform.

Lottery.com said a core strategy behind the plan includes leveraging its existing partnerships with Mobile Network Operators (MNOs). These offer localised branded sports content services. This approach, it said, enhances the value proposition for MNOs by servicing the demand for sports video content from large scale audiences across many markets directly onto consumers’ mobile devices.

Sports.com is “determined” to expand worldwide, via sports such as soccer, motor racing, football, baseball, basketball, MMA, boxing, cricket, golf and tennis. A dedicated parallel programme committed to women’s sports is also expected to launch.

Lottery.com CEO: “Great strategic importance”

Matthew McGahan, chairman and CEO, said: “This acquisition is of great strategic importance to our group. We are delighted to unveil Sports.com to the world with a revolutionary vision that will transform how fans engage with sports.

“By integrating SportLocker’s robust MNO partnerships, localised content services and community-focused features with enhanced content and technology, we are creating a dynamic ecosystem where fans can not only consume sports, but also connect and create in ways never before offered to the mass of sports fans worldwide.

“We are positioning Sports.com to offer sports fans an unparalleled year-round experience. The introduction of our media platform is just a glimpse of how we intend to bring fans closer to the sports they love.”

Africa and India among target regions for Lottery.com

Throughout 2024, Lottery.com said it plans to add new features to the platform and invest in innovative technologies for Sports.com. These will focus on providing sports fans “with content that truly matters to them”. This will be achieved though the creation of communities and sports-centric social media campaigns with leading sports stars.

Following on from its initial US and European markets, Sports.com plans to extend its reach into Africa, India, South America, Asia and Australia.

It said it will aim to deliver global sports content along with regional sports content. The business will also offer comprehensive pre- and post-match stats, news and event highlights. This will include access to the Indy 500, Dakar Rally, FIA Formula E, and the Formula 1 season.

Broadcasts of the PGA Tour, LPGA Tour and the Masters golf tournament will also be included. It will also include coverage of tennis grand slams, including the Australian Open and French Open, along with the ATP and WTA tours.

Majed Al Sorour, president of Sports.com and Saudi Golf, said: “I am thrilled to lead Sports.com into a new era where technology and passion for sport converge to create unparalleled experiences for fans worldwide.

The former director and CEO of LIV Golf and Newcastle United FC added: “Our vision is to revolutionise fan engagement, making every moment more interactive, accessible and engaging. Supporting Sports.com at this transformative stage, I look forward to leveraging my experience to catalyse growth, innovation and community-building in the sports and technology landscape.”

Lottery.com on the up after turbulent times?

In its most recent financial results, Lottery.com said it reduced its net loss by more than 43.0% in Q3. This came despite reporting a decline in revenue for the period.

Lottery.com posted revenue of $285,523 (£225,800/€261,703) in Q3. This was 59.9% down from the $711,477 reported in the three months to 30 September 2022. It posted a pre-tax loss of $3.4m, compared to $6.1m in Q3 in the prior year.

Lottery.com in May 2023 revealed it faces “material weakness” over accounting non-compliance. This was in the face of a class action suit served in 2022 on behalf of investors and former employees.

More recently, Lottery.com regained compliance with Nasdaq Stock Market rules over a year after falling foul of regulations. In September, Nasdaq’s Listing Qualifications Department confirmed the broker evidenced compliance with minimum bid price requirements.

The suspension runs from the date of the decision (4 January) to 3 January 2027.

The offences relate to the fixing of matches in 2016 and 2017. Ghorbel, who has a career-high world singles ranking of 479 in 2016, denies all charges.

Specific breaches of the TACP include two related to section D.2.a.i – failure to report a corrupt approach. The ITIA also noted a single breach of section D.1.b, facilitating betting on the outcome of a match, and section D.1.d of contriving the outcome or aspect of a match.

The suspension means Ghorbel cannot play in, coach at or attend tennis events authorised by ITIA members or national associations.

Charges mount up over tennis match-fixing

Ghorbel is the latest tennis player facing sanctions over the criminal case involving a match-fixing syndicate in Belgium, Collaboration between the ITIA and Belgian authorities led to a five-year custodial sentence for syndicate leader Grigor Sargsyan.

The crackdown began following Sargsyan’s conviction in November. This saw an initial 16 players banned in November 2023, as reported by iGB, first on the on 13 November, then on 17 November and on 24 November.

Other recent charges include those filed against French tennis player Leny Mitjana. He was banned for 10 years after being found guilty of corruption and match-fixing offences. 

In total, the ITIA has banned 22 players and officials in the last three months over the same case.

Intralot has had a long-term partnership with MDJS, powering its offering since 2010. The Greek operator will continue to operate MDJS’ lottery games, which include Tifo and Chrono.

In March 2021, Intralot announced it had agreed to reduce the term of an eight-year deal with MDJS, signed in 2019, to end in December 2022.

However, despite MDJS launching a tender in January 2022 for a new supplier, a new one-year extension was agreed with Intralot in March 2022. This most recent extension, announced on Friday, prolongs the relationship between the pair.

Intralot at risk of not meeting 2024 bond obligations

In November 2023, Intralot announced a return to net profit for Q3. Gross gaming revenue (GGR) was up 2.2% year-on-year to €5.6m (£4.8m/$6.1m).

However, Intralot also posted a €21.7m (7.2%) decrease in consolidated turnover from 2022. A large percentage of the company’s turnover drop was down to the absence of revenue caused by the expiration of its Malta licence in July 2022. This accounted for a GGR loss of €43.9m.

Consequently, the company’s Q3 earnings reports highlighted the risk of not being able to meet its 2024 bond obligations. Intralot issued €135m in new shares, with the Q3 report stating it lacked the cash resources to cover the majority of the debt.

Despite the net consolidated turnover loss year-on-year, Intralot’s Q3 revenue was 8.1% up on the same period the previous year, as well as a €7.8m hike on Q2 2023.

EBITDA also jumped to €101.0m for the first nine months of the year, 14.7% up on 9M22. Intralot attributed the rise in EBITDA to promising growth in Turkey, Croatia, Taiwan and the US.

Turfsport offers software solutions across sports betting, horse racing and lotto. The provider currently works with more than 40 operators in South Africa.

Softswiss co-CEO Andrey Starovoitov said the acquisition provides a fast and efficient way for the business to enter new markets.

“With this agreement, Softswiss takes a significant step forward in its extensive expansion into South Africa and the African continent,” said Starovoitov. “I believe this region is becoming the next focal point globally, following Latin America. 

“We look forward to enhancing our product portfolio and continuing our commitment to providing high-end solutions to our partners.”

Turfsport eyes international growth with Softswiss

Turfsport CEO Christian Neuberger also praised the acquisition deal. He said working with Softswiss will allow Turfsport to access more opportunities on an international scale.

“Turfsport was looking for an international partner that would complement our strong brand in South Africa,” Neuberger said. “We are absolutely delighted to have found the ideal partner in Softswiss and its dynamic and fast-growing team. 

“Both companies look forward to delivering innovative product enhancements and services, giving our customers the competitive edge to grow and succeed in an increasingly dynamic market. 

“We are all truly excited about the winning combination of Turfsport’s local and Softswiss’ international expertise and the prospects for this duo in the South African and African markets.”

Softswiss added that it will share more information about the acquisition and South Africa market at ICE 2024. The provider will be based on Stand N8-231 at the event, which runs from 6-8 February at ExCeL London. 

The launch of the General Commercial Gaming Regulatory Authority (GCGRA), tasked with creating the regulatory framework for national lottery and commercial gaming in the UAE, was announced on 3 September.

While it’s still unclear what the final regulations will look like, operators are already taking steps to set themselves up to launch in the region.

One such company is Wynn Resorts. Chief executive Craig Billings has talked up the UAE as the most exciting new market opening in decades.

UAE moves step closer to regulated casino market with GCGRA creation

WAM, the UAE’s state-run news agency, announced the establishment of the GCGRA in early September.

Currently, anyone found gambling in the UAE can be subject to two years in prison and an AED50,000 (£10,699/€12,452/$13,615), according to federal law.

However, the creation of the GCGRA is the next domino to fall towards a regulated gambling market in the UAE.

Kevin Mullally, previously the executive director of the Missouri Gaming Commission, will be the GCGRA’s chief executive. Mullally previously spent 17 years with Gaming Laboratories International (GLI).

Jim Murren will chair the GCGRA’s board of directors. Murren led MGM Resorts as its chairman and chief executive from 2008 to 2020.

It’s still unclear what exactly will be permitted in the country. Questions remain over whether there will be an online component available to bettors and operators in the market.

Another point of contention is whether the UAE’s two existing raffles, Emirates Draw and Mahzooz, will be regulated by the GCGRA.

According to iGB sources, Mullally’s former company GLI has spearheaded the consultations on the creation of the UAE’s regulatory framework.

Eilers & Krejcik Gaming, a gaming consulting and market research firm, has also supported GLI in this work. The consultant has previously involved itself more in digital offerings, sparking speculation the UAE plans for an online market.

These firms pushed for the government to handle gambling regulation on a federal level, as opposed to being the responsibility of each individual emirate.

Sources also stated the UAE plans on establishing a 25% revenue tax on mass market gambling. Premium gaming, meanwhile, would be subject to an 8% tax.

Wynn looking to capitalise on UAE’s casino potential

Wynn Resorts is the operator perhaps best placed to take advantage of the UAE launching a regulated gambling market. It’s on track to open the region’s first integrated casino resort.

Wynn has begun construction on its Al-Marjan casino, with the venture set to cost around $3.9bn (£3.1bn/€3.6bn). Wynn holds a minority stake in the venture, with 60% of the business owned by the operator’s local partners.

The resort, Wynn’s first venture in the Middle East North Africa (MENA) region, is expected to open in early 2027.

The site is located approximately 65 miles from Dubai, the largest city in the UAE. It will include a gaming area, 1,500 hotel rooms, dining and lounge options, a spa and wellness centre, a high-end shopping esplanade, events centre, an on-site theatre and a range of other entertainment facilities.

Wynn first needs a licence, though, with questions over how this will work. The GCGRA is charged with managing licensing.

Wynn chief executive Craig Billings isn’t worried, however, claiming he expects Wynn’s Ras Al Khaimah licence to be issued “imminently”.

Wynn has consistently shown faith in the UAE launching a regulated market. Billings has lauded its growth potential on a number of occasions, particularly as the first operator to make its move in the region.

Billings recently said: “We believe it’s highly unlikely that every emirate will ultimately avail themselves of the right to host an integrated resort. Our view is that it will likely be us and us alone for a multi-year period given that we are well under way on construction now.

“We all know the advantages of being first as we have seen in other markets. As I’ve said before, this is the most exciting new market opening in decades.”

The agreement sees Sun International obtain Peermont’s 11 properties across South Africa and Botswana. The online sports betting site PalaceBet is also included.

Emperors Palace is a leading casino resort in Gauteng, with 1,695 slot machines, 69 gaming tables and 757 rooms. In Sun International’s announcement, it pointed to the resort’s “unique proximity” to the OR Tambo International Airport as an opportunity to attract “high net-worth customers”.

The move was backed by the group’s investors, with 62.54% of shareholders providing written support for the purchase. Sun International believes the transaction will “enhance the quality of earnings and cash flow generation” of the business.

Sun International looking to maintain momentum from strong H1

The acquisition of Peermont comes after a strong H1 for Sun International, publishing its first-half results towards the end of September.

Income at Sun International rose 11.6% to ZAR5.78bn (£243.7m/€284.5m/$305.3m) for the six months to 30 June. This “exceptional growth” was in spite of a “difficult economic climate and increased competition”.

Group adjusted EBITDA for the half was ZAR1.57bn, 5.6% higher than H1 2022. In addition, overall profit for the period was ZAR485m, up by 41.0% from the previous year.

Notably, urban casinos income was also up 4.2% to ZAR3.27bn, with casino contributing 91.8% of this total. In its announcement of the Peermont purchase, Sun International stated the move would aid the company’s “strategic intent to focus its portfolio on large urban casinos”.

Sun International secures agreement after November rumours

This move was teased in late November, with Sun International revealing it had entered discussions over a potential acquisition.

The identity and nature of the party was not disclosed, while Sun International advised shareholders to exercise caution when dealing in its securities until a further announcement was made.

Sun International shares dropped and then rebounded after the acquisition talks were disclosed. After Monday’s announcement, they are currently trading at ZAR3,973 (£170/€197/$215) per share, down 2.24% on today’s (18 December) opening price.

MGM Resorts looks east

Japan’s ministry of land, infrastructure, transport and tourism certified plans for a $10bn integrated resort in Osaka in April. After finalising agreements with Osaka Prefecture and City, construction can begin on the property. 

Marginally closer, opportunities are emerging in the United Arab Emirates. First Wynn sealed an agreement for a resort in Ras al-Khaimah. Then a federal regulator, the General Commercial Gambling Regulatory Authority (GCGRA) emerged paving the way for resorts in other Emirates. 

MGM is focused on Dubai, Hornbuckle says. “We believe over time, there’ll probably be three or four licences in the Emirates. We’re going to be patient about this.” There’s a non-gaming project in Dubai that has the Bellagio, MGM Grand and ARIA brands in it already. 

“It’s a pretty spectacular project that sits right at the foot of Jumeirah Beach, a place called Porto Island. It’s going to be a magnificent resort and hopefully ultimately an integrated resort.”

These opportunities, however, are few and far between for an operator of MGM Resorts’ size. Japan, for example, is the culmination of a 12-year process. The conditions to build that sort of property aren’t always on offer. 

“What we do best is large scale integrated resorts that, in the case of Japan, are $10bn projects,” he continues. “If we were to replicate the Bellagio it’s probably a $9bn project. That’s what we do. It’s what we’re good at. That’s the kind of branding and kind of experience we want to take around the world.”

Tax in MGM’s current jurisdictions range from roughly 7%, to around 30% in Macau or Japan. “Anything beyond that gets prohibitive.”

European resorts remain off limits

It’s therefore unlikely we’ll see an MGM Resorts property in Europe any time soon. 

“The challenge we have generally with Europe is there’s a lot of small operatives with vested interests in the industry that exists today,” Hornbuckle explains. “And you have a tax environment that’s not right for the kind of things we would want to do. If there was a unique project that came along, we would have an interest – although I can’t think of one; it would have to be pretty special.”

What did pique the operator’s interest was the UK’s ultimately unsuccessful plans for so-called “supercasinos” in the early 2000s, something MPs recently attempted to resurrect. Hornbuckle was on the ground for almost three years exploring the project. 

“We were in Sheffield, we were in Liverpool, we were everywhere,” he recalls. There was a site at the Sheffield Mall, potential locations in Scotland – in Glasgow and Edinburgh – as the plans promised the scale and a viable tax regime “to allow us to do what we do best”.

“Then, as you know, things fell apart.”

“Do we regret anything? Hell no”

That’s not to say he regrets the near-misses or projects that didn’t come to fruition. “Sometimes you are more right than other times, but do we regret anything? Hell no.”

Japan, for example, could be viewed as a leap into the unknown. Hornbuckle admits it looks risky at a glance, considering there have never been integrated resorts or casinos in the country before. 

“But if you take a step back, Pachinko is a $30bn a year business,” he adds. “In Osaka alone it’s almost $3bn-$4bn, and there are 19 million people who live there. That’s gambling in its rawest sense. 

“The lessons you learn from all of these projects [we work on], you put it into a project in a different place and you can create a $10bn integrated resort destined to attract locals and international visitors.”

Digital expansion and the BetMGM question

While a physical property in Europe remains a pipe dream, MGM Resorts is already on the continent. Following its $604m acquisition of LeoVegas, the BetMGM brand – without its US joint venture partner Entain – is live in Great Britain, supported by a splashy campaign featuring Chris Rock. 

The vision is to create “the world’s premier gaming entertainment company” but thanks to limited scope to build properties of scale, Hornbuckle sees online as MGM’s new frontier. 

“The idea is when you think about investing in gaming, you look for a premium company that’s got great locations and is well-diversified,” he says. “Then if you think about our company, we’re Las Vegas-based, we have meaningful assets in Asia and domestic assets in regional markets that make a lot of money; we make a little over $1bn a year in cashflow in our regional business. 

“And now through BetMGM, both domestically and ultimately through what we do with LeoVegas – whether that’s in Europe, Canada or South America – we want to diversify into digital. We think it’s a meaningful way to continue to reach customers 365 days a year.”

The average Vegas visitor comes 1.2 times a year. Now, Hornbuckle aims to offer them a digital version of the on-property experience, creating a full omnichannel ecosystem to differentiate the business from online-only competitors. Essentially, BetMGM in Europe – and later Latin America, he suggests – fulfils the same role as its US regional properties. 

Scaling up for the online push

Creating that differentiated omnichannel offering drove the acquisition of games studio Push Gaming in May. This opens up opportunities to build out exclusive content. 

“Those games could launch digitally, or in brick-and-mortar, and use our balance sheet to create things that are pretty unique,” Hornbuckle suggests. “Imagine life-changing jackpots from a game, that we created, sitting on the floor here in Vegas, or anywhere else in the world for that matter. 

“The idea that we could create our own games is really important, both to feed our digital assets, but [also] our brick-and-mortar assets and then ultimately to tie them all together.”

Push is a slot specialist but Hornbuckle is already considering how to expand further, bringing up live dealer as a key focus going forward. “Like many others we use Evolution through BetMGM US, as does LeoVegas, but the last time I checked we have a lot of dealers,” he says. “We have a pretty interesting environment with pretty interesting brands, so it is kind of our birthright to be able to do this.”

MGM adds “pizzazz and celebrity” to the live casino proposition. He even suggests celebrity guests may be featured, playing from the casino floor in Las Vegas. 

What of the BetMGM US joint venture?

There’s a lot to come from LeoVegas and Push, but currently these target overseas markets. Wouldn’t Hornbuckle eventually look to showcase this unique offering on his home turf? There was, after all, an £8.1bn bid for the business that failed in February 2021. 

“We enjoy our partnership with Entain here,” is all he says. “We’re all trying to understand our way through the marketplace. It’s complex, it’s large scale, it’s not free, it’s expensive, and we’re all battling our way through it.”

MGM Resorts owns the BetMGM name, he points out, but that doesn’t mean that LeoVegas – which shares a lion mascot with its new parent – is disappearing. However, as legislation makes its way through LatAm legislatures, he admits local brands lead the pride. Further M&A may be on the way. 

“The idea that we could acquire one of these brands and put them back into the portfolio at a larger scale is something we want,” he says. “We will size up each market independently with partners, directly with the BetMGM brand, or through a local brand.”

All roads lead to Las Vegas

These igaming offerings ultimately play a crucial role in driving customers back to MGM Resorts’ properties, he continues. Products become ubiquitous, and over time “become pretty consistent” he says – there is only so much you can do on a small screen, after all. When marketing rationalises, it’s going to beg the question, what can operators do to differentiate from the competition?

“For us, we believe it’s omnichannel,” Hornbuckle says. “We think when someone comes here with single wallet, they can leave their money in their account, they can go home to Colorado and continue to play. They can get recognised and rewarded and ultimately come full circle by heading back to Vegas. 

“We think there’s value in that in the long-term. Look, sports bettors fall in an age bracket that’s attractive to Las Vegas and obviously the fact we have sports here really helps that storyline.”

If it’s not the entertainment or gaming, it’s the emerging sports ecosystem that draws in the customers. 

“There’s very few players in the world who can do what we do, particularly at our scale,” he adds. “We’re going to host a Super Bowl here in a couple of months, so I can bring a customer to the Super Bowl. There’s just all of those activity cases and things to do here that you can’t do in most other places in the world.”

Building a podium position on a global scale

As MGM Resorts competes across multiple fronts, not to mention in its home town of Las Vegas, there’s plenty more to do. 

Japan, after years of painstaking work and legislative delays, is finally coming to fruition, just as the UAE opportunity emerges. Then there’s the digital expansion, where he says there is the opportunity to replicate BetMGM’s US podium position by disrupting the European and LatAm markets.

“If it works, great,” he says. “If it doesn’t, on my watch. Seeing things from that point of view, it’s exciting.”

The agreement, announced on Monday (11 December), sees IMG win exclusivity to distribute the international media rights of events in 85+ CAF countries. The deal does not include territories in the Middle East and North Africa, sub-Saharan Africa and other selected areas.

The arrangement secures IMG the management of broadcast deals ahead of the next two editions of the Africa Cup of Nations (AFCON).

The tournament will be held in the Ivory Coast early next year and then Morocco in 2025. IMG also holds the rights to the qualifiers for the next two editions of Africa’s most prestigious international competition.

Other events included in IMG’s deal are the Women’s AFCON in 2024, as well as the CAF Champions League.

IMG and CAF deal will “unlock greater value”

Robyn Cox, vice-president and managing director of IMG’s media business, is excited for the opportunities the partnership could provide.

“The TotalEnergies Africa Cup of Nations is the biggest event on the African Continent. It’s one of football’s most watched competitions,” Cox said in the announcement.

“We’re looking forward to expanding our partnership with CAF to help unlock greater value from its media rights, grow the competition’s global audiences and enhance fans’ viewing experience.”

IMG and CAF strengthen partnership

IMG recently penned a deal to become the global sponsorship agency of CAF until 2025.

As well as delivering fresh sponsorship opportunities for CAF, IMG is also providing marketing, data and consultancy services.

IMG holds rights with the Confederation of North, Central America and Caribbean Association Football (CONCACAF). The company also broadcasted the most recent editions of the Fifa men’s and women’s World Cup on its Sport 24 channel.

The IMG Arena division of IMG broadcasts data from a number of European top-flight divisions. Owned by Endeavor, IMG Arena also acquired Leap Gaming in April, expanding its betting presence.

The group also said that while there is no guarantee a deal will go ahead, it may have a material impact on its securities. As such, it advises shareholders to exercise caution when dealing in its securities until a further announcement is made.

Sun International shares initially dropped after the acquisition talks were announced. They have since begun to rebound and are currently trading at ZAR4,103 (£174/€200/$219) per share, up 0.07% on today’s (27 November) opening price.

iGB has contacted Sun International for more information on the talks.

Profit ticks up at Sun International in H1

News of the talks comes after Sun International published its first-half results towards the end of September.

Income for the six months to 30 June jumped 11.6% to ZAR5.78bn as the operator recorded growth across the business. This, it said, came despite a “difficult” economic climate and increased competition.

Key highlights in H1 included resorts and hotels income rising 26.9% to ZAR1.42bn. Urban casinos income was also up 4.2% to ZAR3.27bn, with casino contributing 91.8% of this total.

Group adjusted EBITDA for the half was ZAR1.57bn, 5.6% higher than H1 2022. In addition, overall profit for the period was ZAR485m, up by 41.0% from the previous year.

As for wider developments, last week Galaxy Gaming announced Todd Cravens would be stepping down as president and CEO. Incidentally, Cravens’ final day at Galaxy was yesterday (13 November), the day the Q3 results were published.

Matt Reback, previously of AGS, Konami Gaming, Caesars Entertainment and Red Rock Casinos – formerly Station Casinos – is taking over.

Speaking on his last day at the Las Vegas-headquartered group, Cravens said Galaxy remains on track for full-year revenue growth despite the challenges of Q3.

“Despite some challenges in Q3, 2023 is shaping up to be a record year for Galaxy,” Cravens said. “We had a sequential decline in revenue in Q3 principally because sales of perpetual licences were lower in Q3 than in Q1 and Q2.

“We expect that future sales of these perpetual licences will make our quarterly results lumpier than in the past. However, we will continue to pursue these sales as they result in substantial increases to our installed base and offer additional recurring revenue opportunities.

“We’re set up for increased revenue in fiscal 2024.”

Land-based growth offsets digital decline in Q3

Breaking down Q3 at Galaxy Gaming, the GG Core land-based operating segment posted $4.3m in revenue. This was 3.3% higher than last year, driven by the shipment of perpetual right to use gaming systems to a single customer.

In contrast, GG Digital revenue fell 10.0% year-on-year to $1.8m due to renegotiation of a contract with a customer. However, Galaxy Gaming says this decline will only be temporary as the renegotiation is expected to generate higher usage from the customer over the long-term.

As for geographical performance, activity in the Americas drew the most revenue. Some $3.9m was generated in the region, up 25.8%. However, revenue in Europe, the Middle East and Africa dropped 21.4% to $2.2m.

Net loss widens as spending increases

Cost-wise, operating expenses for Q3 climbed 17.4% to $5.4m. The main outgoing for Galaxy Gaming by some way was selling, general and administrative costs at $4.2m.

Other finance-related costs totalled $2.1m, leaving a pre-tax loss of $1.4m, compared to the $853,634 loss posted last year. Galaxy Gaming paid $41,642 in tax but gained $21,493 from foreign currency translation.

As such, Galaxy Gaming ended Q3 with a net loss of $1.4m, almost double the $776,561 loss last year. In addition, adjusted EBITDA declined 37.5% to $1.5m.

Positive picture for Galaxy Gaming in year-to-date

Looking at how Q3 impacted year-to-date performance, revenue in the nine months to 30 September was 20.6% higher at $21.1m. This included $14.8m in GG Core revenue, a rise of 29.3%, and $6.2m from GG Digital, up 3.3%.

Operating costs for the period were 16.1% higher at $15.9m while net other expenses hit $6.3m. This meant a pre-tax loss of $923,801, although this was an improvement on the $1.9m loss last year.

Galaxy Gaming paid $63,894 in tax and gained $12,850 back in foreign currency translation. With this, the provider ended the nine months with a $974,845 loss, shorter than the $2.1m loss in 2022.

In addition, Galaxy Gaming said adjusted EBITDA was 5.4% higher for the period at $7.8m.

What can we expect in Q4?

While outgoing CEO Cravens was positive about full-year prospects, Galaxy Gaming did not specify guidance figures. However, CFO Harry Hagerty did offer an insight into what might be coming in Q4.

For the final quarter of the year, Galaxy Gaming expects revenue to be between $7.0m and $7.5m. Anywhere within this range would be a marked improvement on Q3.

As for adjusted EBITDA, Hagerty says this should be in a range of $2.8m to $3.2m in Q4. This, again, would be higher, perhaps even double, the Q3 figure.

“This forecast assumes no impact to our business from the wars in Ukraine and the Middle East and no economic recession,” Hagerty said. “Finally, the forecast is based on currency exchange rates that we experienced in the third quarter.”

Incorporating the board’s present mandate, the new Authority will also be responsible for both licensing and regulation.

“The bill seeks to regulate betting, casinos and other forms of gambling, including the authorisation of prize competitions, public lotteries and media promotions,” the bill states.

The state-backed Gambling Control Bill is sponsored by National Assembly Majority leader Kimani Ichung’wah.

Cracking down on unlicensed and underage gambling

The newly-introduced Gambling Control Bill is designed to greatly enhance the board’s original mandate.

This follows previous statements in 2022 that the majority of Kenya’s operators were failing to comply with licensing requirements.

The broad set of new measures will enhance taxes and fines for offences, as well as prohibiting the registration of children for any gambling activity.

The bill will also prohibit bets of less than KES20, with a statutory fine of KES5 million for any operator offering a stake below KES20.

Radios and TV stations are also to be banned from airing gambling advertisements between 6am and 10pm.

Taxation and deposits

The Gambling Control Bill requires all licensed operators to have a minimum of 30% shares held by Kenyan citizens. All entities must also facilitate transactions via a Kenyan-registered bank.

Entities must also deposit either a bank guarantee or insurance security bond to cover any unlicensed gambling activity.

In total, casinos will be required to deposit KES20 million, and KES200 million for online sports betting and lotteries.

The new Gambling Authority will also be responsible for the licensing of all lotteries intended to raise funds for charitable purposes.

A 30% minimum of the proceeds will also need to be devoted to the charitable cause that the lottery promotes.

Any individual or entity that promotes an unlicensed lottery will receive a KES1 million fine or one year in jail.

The Gambling Control Bill also imposes a 15% tax on gross gambling revenue and imposes a monthly gambling levy determined by local counties.

The latest bill follows Kenya’s finance bill, signed into law in 2022, which saw a 7.5% tax imposed on betting stakes.

The stake tax has been a long-standing subject of controversy in Kenya, with market leaders Sportpesa and Betin previously pulling their services from the market.

Wynn expects continued growth in Macau but also talked up growth opportunities in other markets, including the UAE. Construction work continues on the Wynn Al Marjan Island on the man-made Al Marjan Island in the Emirate of Ras Al-Khaimah.

The UAE venture will cost approximately $3.90bn but, according to CEO Craig Billings, the region represents the most exciting new market opening in decades.

“We believe it’s highly unlikely that every Emirate will ultimately avail themselves of the right to host an integrated resort,” Billings said. “Our view is that it will likely be us and us alone for a multi-year period given that we are well underway on construction now.

“We all know the advantages of being first as we have seen in other markets. After that, it may be a duopoly or an oligopoly of three. But I find either ultimate market structure undaunting given the database advantages of being first and the fact that we’ve very successfully operated in the two most competitive markets in the world: Vegas and Macau. 

“As I’ve said before, this is the most exciting new market opening in decades.”

Macau drives revenue growth at Wynn in Q3

Focusing on the Q3 results, Wynn posted growth across all core parameters during the three months to 30 September. Casino was by far the main source of revenue, with this jumping 170.2% on the back of Macau’s relaxed restrictions.

Rooms revenue increased 46.7% to $289.3m, food and beverage revenue climbed 17.7% to $267.4m and entertainment, retail and other revenue 32.3% to $142.7m.

In Macau, Wynn Palace posted $524.8m in total Q3 revenue, an increase of 597.9% on last year. Wynn noted that both table games win percentage (23.3%) and VIP table games win as a percentage of turnover (3.4%) were ahead of expectations.

Over at Wynn Macau, revenue also rocketed 630.2% following the easing of Covid-19 rules. Again, Wynn said that table games win percentage (16.5%) and VIP table games win as a percentage of turnover (3.5%) beat guidance for Q3.

Success in Vegas but Boston revenue dips

Turning to the US, Las Vegas operations generated $619.0m in revenue during Q3. This, the operator says, is 13.7% higher than in the same period last year.

Table games win percentage in Las Vegas was 26.0%, which was at the top end of the 22.0% to 26.0% range forecast by Wynn. It was also ahead of the 20.7% noted in Q3 last year.

However, revenue at the Encore Boston Harbor edged down 0.7% year-on-year to $210.4m. This was despite table games win percentage reaching 20.8%, within the 18.0% to 22.0% range stated by Wynn.

Macau reopening leads to higher costs

The full reopening of the Macau market inevitably led to higher costs at Wynn. During Q3, total operating costs hit $1.61bn, up 70.7% year-on-year. Casino was the main outgoing by some margin at $577.7m.

Net other expenses amounted to $185.9m, which put Wynn at a pre-tax loss of $123.3m. This, however, was an improvement on last year’s $206.4m loss.

Wynn received $2.7m in tax benefits but took off $3.9m in income from non-controlling interests. As such, net income less attributable to Wynn was $116.7m, shorter than the loss of $142.9m in 2022. 

In addition, adjusted earnings before interest, taxes, depreciation, amortisation and rent costs (EBITDAR) jumped 205.7% to $530.4m in Q3.

Could Wynn reach net profit in the full year?

Looking at Wynn’s year-to-date performance, revenue in the nine months to 30 September was 70.5% higher at $4.69bn. This includes $2.65bn in casino revenue, $838.4m from rooms, $757.1m in food and beverage revenue and a further $443.5m from entertainment, retail and other activities.

Operating costs climbed 42.6% to $4.21bn and net other expenses amounted to $471.4m. This left a pre-tax profit of $11.0m, in contrast to last year’s $672.6m.

Wynn paid $2.6m in tax and discounted $7.6m in income from non-controlling interests. This meant it ended the period with a net profit of $838,000, compared to a $456.3m loss in the same nine months last year.

In addition, the operator said adjusted EBITDAR in the year to date was 180.0% higher at $1.48bn.

“Our third quarter results reflect continued strength across our property portfolio,” Billings said.

The deal adds a team of developers that will accelerate product development and international expansion, LiveScore said.

Wonderlabz offers solutions such as player account management and back-office platforms. LiveScore Group CEO Sam Sadi credited its Lithium PAM as playing a critical role in the operator’s media to betting convergence strategy.

“One of the most exciting businesses in software development”

“I’m thrilled to announce our acquisition of Wonderlabz,,” LiveScore Group CEO Sam Sadi. “It is one of the most exciting businesses in the global software development space.

“I’m personally excited to work even closer with the team in Cape Town to help continue to develop a world-class tech hub in the area, one which increases the technical capability of our business and will fuel the potential for further growth.”

Wonderlabz CEO Ben Johansen added: “There is no doubt that in LiveScore Group, we join one of the most forward-thinking and innovative businesses in the sports media and betting worlds. I cannot wait for our people to continue playing a key role in what comes next.”

LiveScore Bet selects Kambi sports tech

LiveScore Group’s Wonderlabz deal follows last week’s partnership with Kambi, replacing its previous supplier.

“By combining the strengths of Kambi’s technology with LiveScore Group’s world-class sports betting brands, media assets and in-house product teams, I believe we are ideally equipped to create truly memorable experiences for our users,” Sadi said of that deal.

LiveScore Group: an expanding empire

The acquisition comes a year after Swiss-based media and tech firm Ringier AG invested £50.0m (€57.5m/$61.5m) in LiveScore Group, accelerating global expansion plans.

Its media arm is active across a range of global markets, even offering Champions League streaming in Ireland. The LiveScore Bet and Virgin Bet sportsbooks are active in markets such as Great Britain, Ireland, the Netherlands and Nigeria. Other launches in Africa and Bulgaria are in the works.

In an interview with iGB last month, CEO Sadi explained the sportsbook will act as a revenue driver to help expand the media business. This, he said, supports his ultimate goal of developing a market leading integrated sports media operation.

The restructure of Global Tote restructure means BetMakers now has a global headcount of 430 full-time staff. This is slightly below the target number, with the staff reduction leading to AU$400,000 (£209,219/€239,354/US$254,182) in costs.

Alongside the restructure, BetMakers has been further boosted by extensions with several key clients. During Q1, Global Tote extended with Penn Entertainment, while the Global Betting Services division renewed with Pointsbet, Dabble and 888.

Elsewhere, testing on an embedded tote solution for point-of-sale wagering with Caesars in Nevada is entering its final stages. Both BetMakers and Caesars hope to go live before the end of the calendar year.

A new national tote system with Norsk Rikstoto in Norway is on schedule to go live in early 2024. In addition, new pricing agreements were signed in Africa and talks were held over further fixed-odds wagering in the US.

“The quarter marked one of further progress for the company,” BetMakers executive chair Matt Davey said. “We continued to focus on reducing and normalising the cost base and simplifying the operating model.

“The restructure of the US operations is now complete. This provides a strong footing to build further scale in the US in a profitable way.

“We were able to extend contracts with key partners. This helps underpin our revenue for the remainder of FY24 and beyond. Importantly, it also shows our technology is delivering value to our customers. 

“We also upgraded our hardware monitoring technology and signed an embedded race book agreement with TonyBet, further strengthening our technology capabilities.”

BetMakers may look to cut more costs 

However, Davey hints that BetMakers could look at making further cost savings. This, Davey says, will help to further improve its cash performance.

“There is still significant room for improvement with our cash performance, but we expect to see some of this improvement come through in the second quarter of FY24 with significantly reduced outflows and a continued focus on costs,” Davey said.

“We remain confident in our ability to reduce our annualised cost base through FY24 to move the business to cashflow breakeven.”

Jake Henson, who took over as CEO at BetMakers earlier this year, agrees. He said: “The team has done a great job in simplifying our operating model and sharpening our focus over the past six months.

“There will be a continued focus on reducing and normalising the cost base and we expect to achieve stronger underlying cash receipts in Q2 due to, among others, the commencement of a new racing season and the onboarding of new clients. 

“We expect further commercial launches in coming months will keep our top-line growing while we are continuing to strive for reaching positive underlying EBITDA and operational cash flows.”

Revenue growth at BetMakers in Q1

Turning to financial performance in Q1 and the good news continues for BetMakers. For the three months to 30 September, revenue was 9.3% higher at $26.1m. BetMakers says this was driven by new customer growth.

Cost of goods sold was 19.0% higher at $9.9m, leaving an increased gross profit of $16.2m, up 4.0%. However, costs were reduced elsewhere as part of the wider restructuring programme.

Staff expenses were cut by 25.5% to $12.1m and other operating costs were down 16.8% to $4.8m. As such, underlying EBITDA loss was reduced by 88.2% to $767,000, in contrast to the $6.5m loss in Q1 last year.

“While we were very pleased with the operational progress, we were also pleased to see solid revenue growth in the quarter driven by new customers and our new technology,” Davey added.

FK Fayad, CEO of SamPro Group, a holding in the Middle East and Africa, will be managing director of GSA Africa. Fayad has worked across trade, technology, ICT business, regulation and government consultancy in Africa, Asia, Gulf Region and the Middle East.

Fayad also holds a number of other roles with various organisations. These include serving on a panel of advisory and strategic partners to the Nigerian Arab Gulf Chamber of Commerce and as a volunteer member in the United Nations High Commission for Refugees.

“The creation of GSA Africa is another leap forward for IGSA and for the gaming industry,” IGSA president Peter DeRaedt said. “Gaming is expanding rapidly across the continent and, appropriately, each jurisdiction has its own nuanced regulations. 

“GSA Africa will function as a guiding voice, bringing the myriad benefits of standards to operators, suppliers and regulators across the continent. 

“We are thrilled FK Fayad will lead GSA Africa. His deep insights and extensive relationships will be crucial to GSA Africa’s success.”

Fayad adds: “It is an honour to lead the newly created GSA Africa. Africa is an exciting part of the global gaming industry, where growth is rapid and poised to continue at a strong pace. 

“Bringing IGSA standards to the continent at this phase of its growth is essential; I’m thrilled to lead this charge.”

IGSA launches cyber and responsible gambling committees

Establishing the new African division is the latest step in IGSA’s ongoing efforts to serve the wider industry.

Last month, IGSA also formed a new Cyber Resiliency Committee (CRC) to create cyber standards for gambling businesses. The committee is focusing on standards for cyber risk management, cybersecurity governance and framework control standards for casino operators.

IGSA members Aristocrat Technologies, Light & Wonder and AXES.ai have all declared their support for the new committee.

Meanwhile, in June, IGSA’s board also approved the creation of a Responsible Gaming Committee. IGSA said the committee will offer support for regulators and operators with a “multi-tiered framework” called the Responsible Gaming Maturity Model (RGMM).

This approach, it says, will offer the industry a path from discovery to a “highly quantifiable and predictable” responsible gaming model. IGSA adds that the RGMM will help both regulators and operators grow from implanting a basic RG policy to managing a more precise dashboard of KPIs generated from quantifiable data.  

Despite the LSLGA’s notice, many of the operators hold a licence from the official national regulator, the National Lottery Regulatory Commission (NLRC), among them Zebet, Betika, GoBet, Msport, 22Bet, Afribet, BangBet, Betwazobia, Koretbet, Paripesa and Livescorebet.

The Lagos regulator also flagged SetLotto, Hamabet, Megabet, Sportbet.io, Oddspedia, NGAwin, Netbet, Nairamillion, Eliest Lotto, PeelsLotto, RiderLotto and BestBet360 as operating without a licence. None of these operators hold a licence in Nigeria, according to the NLRC’s public list. Other operators in this camp include Firstbet, Betxperience, Giveraffle, Wakabet, Betfarm, Chopbarh, PlentyMillions, Nairapowerbet, Gamespay and Xtragoalfantasy.

The LSLGA deems all of the above operators as not approved to offer gambling in Lagos. It is also urging players to cease gambling with any of the operators.

“The LSLGA wishes to reaffirm its commitment to regulating and promoting the Lagos gaming industry to ensure the interests of all stakeholders are adequately protected,” the LSLGA said.

Lagos in dispute with national regulator

A dispute of this nature between Lagos and the national gambling regulator has happened before. In May 2020, the LSLGA posted a notice declaring 10 gaming sites illegal in Lagos State despite their national licence.

In that instance the NLRC said that a national licence grants operators the right to offer gaming in Lagos State, which the LSLGA disputes.

The charges relate to the 2021 Abu Dhabi T10 Cricket League and attempts to corrupt matches. These attempts were disrupted but charges have still been brought forward in response to the activities.   

Among those facing charges is Bangladesh all-rounder Nasir Hossain. The player is alleged to have breached several rules including Article 2.4.3 for failing to disclose the receipt of a gift worth over $750.

Hossain is also said to have failed to disclose details of corruption approaches (Article 2.4.4), as well as not co-operating with an investigation into such matters (Article 2.4.6).

Sri Lanka’s Saliya Saman has also been flagged for numerous breaches including Article 2.1.1 on being party to an attempt to fix matches. The ICC also highlighted Article 2.1.3, referring to offering other players rewards to fix matches, and Article 2.1.4 on facilitating participants to contrive matches.

The other player facing charges is Rizwan Javed. Breaches include Articles 2.1.1, 2.1.3, 2.1.4, 2.4.4 and 2.4.6.

Cricket officials and team co-owners also face corruption charges

The ICC also flagged a number of coaching staff and team co-owners as part of the same case. These include Krishan Kumar Chaudhary and Parag Sanghvi, the co-owners of Karnataka Tuskers, now known as the Pune Devils.

Chaudhary faces charges of breaching Article 2.4.5 on passing information to the relevant authorities on corrupt activities. Chaudhary is also accused of obstructing or delaying an investigation (Article 2.4.7), as well as Article 2.4.6.

Sanghvi is accused of breaching Article 2.2.1 on placing bets on cricket matches, in addition to Article 2.4.6 and failing to co-operate with investigations.

Others facing charges include batting coach Ashar Zaidi, Sunny Dhillon, an assistant coach, and team manager Shadab Ahamed. All three are accused of breaching rules related to corruption in cricket.

Chaudhary, Sanghvi, Zaidi, Javed, Saman and Dhillon have all been provisionally suspended. They have 14 days from 19 September to respond to the charges. It is not yet clear where Hossain and Ahamed stand in the case. 

West Indies cricketer suspended over corruption charges

This comes after the ICC in May charged West Indies batsman Devon Thomas with seven counts under anti-corruption codes. Thomas was handed a provisional suspension as part of the ruling.

He was charged with breaches of the codes of the ECB, Sri Lanka Cricket and the Caribbean Premier League (CPL). The ECB charges again relate to the T10 Cricket League.

Like some of the individuals in the latest case, Thomas was found in breach of Article 2.4.4 of the ECB Code.

Further terms of the agreement, including when the deal could close, were not disclosed. However, Playtika did state the proposed acquisition remains subject to certain, customary closing conditions.

Founded in 2019, Innplay Labs counts Water Ride, Brix Master and Animal Kingdom among its current titles. The studio has secured investment from several parties including Vgames, a venture fund for game entrepreneurs. 

Playtika CEO Robert Antokol said that the acquisition supports the “strategic” expansion of the developer’s portfolio. 

“The acquisition of Innplay Labs represents another strategic expansion of our portfolio with a promising and innovative growth franchise in the Luck Battle genre,” Antokol said. 

“It presents another opportunity for us to further utilise our expertise in leveraging live operations and proprietary technology to drive sustained, long-term growth.

“As a fellow Israeli-based company recognised for innovation, Innplay’s talented team shares our culture of focus, speed and agility. We are excited to embark on this journey together and to rebrand Animals & Coins alongside Innplay.”

Innplay CEO Ore Gilron added: “In 2019, Innplay Labs formed with the goal of shaping the next generation of mobile gaming. Four years later, our robust team of talented high skilled game operators have put their passions together to create an outstanding game product with rich engaging content, providing our audience with a uniquely entertaining gaming experience.

“Looking ahead, we believe becoming a part of Playtika’s strong portfolio of casual titles will take Innplay Labs to new heights.”

Playtika increases M&A activity 

The agreement represents Playtika’s second transaction so far this quarter. Last month, the developer struck a deal to acquire the Youda Games portfolio of content from Azerion for €81.3m.

Playtika will take ownership of the entire portfolio should the deal proceed as expected. The Youda Games collection includes a number of gambling-related titles such as social card-themed game Governor of Poker. 

The deal is due to complete by the end of the third quarter, subject to customary closing conditions.

Earlier this year, Playtika also tried and failed to acquire Rovio Entertainment, the developer behind the successful Angry Birds series.

Playtika filed an initial proposal in November 2022 and increased its offer in January. At the time, Playtika CEO Antokol said the deal would be valuable for Rovio’s shareholders.

However, Playtika in March said it would not be proceeding with talks and withdrew its proposal. This came after Rovio launched a strategic review to consider offers from Playtika and other interested parties.

In April, Sega Sammy Holdings reached an agreement to acquire Rovio for €706.0m. Its offer of €9.25 per share was higher than Playtika’s proposal of €9.05 per share.

Profit up despite revenue dip in Q2

This M&A activity came against a background of mixed results in Q2 for Playtika. Revenue fell 2.5% year-on-year to $642.8m in the three months to 30 June.

Playtika noted a 9.9% drop in social casino games revenue, although casual games revenue climbed 3.7% and Blitz Bingo 6.3%. Average daily paying users slipped 1.0% to 307,000. In contrast, average payer conversion climbed 3.2%.

However, reduced costs meant comprehensive net profit was 340.5% higher at $90.3m. In addition, adjusted EBITDA for the quarter increased 6.7% to $215.0m.

Of the urban casinos, the casino income made up 91.8% of the total, rising by 2.2% to ZAR3.00bn.

The casino operator said its resorts and hotels segment had experienced “strong recovery” during the six months, referring to the effects of the Covid-19 pandemic seen since 2020.

“We continue to experience a strong recovery in both international and local business in the resorts and hotels segment of the group,” said the operator. “Domestic leisure, conferencing and sports and events revenues continue to grow while international leisure business recovered strongly in the review period.”

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the period was ZAR1.57bn, 5.6% higher than in H1 2022.

Segmental results

Of Sun International’s urban casinos, GrandWest contributed the highest income at ZAR891m. Time Square generated ZAR724m, while Sibaya made up ZAR634m.

Alongside the urban casinos and resorts and hotels income, Sun International’s Sun Slots slot machine contributed income of ZAR717m. Income from SunBet, its sportsbook brand, was ZAR298m, a 138.3% increase year-on-year.

Income from management and corporate office was ZAR2m, down by 60.0%.

The total income from South Africa alone was up by 11.5% to ZAR5.71bn. For Nigeria and other, income was ZAR72m, marking an increase of 20.0%.

Sun International also reported growth in its unique active players, which were up by 702.8%. First time depositors grew by 469.2%.

Half-year breakdown

Net gaming win for the six months was ZAR4.51bn, ticking up by 6.5%. The revenue – which includes other income – was ZAR1.26bn for the six months.

Turning to operating costs, the highest of the period was employee costs at ZAR1.17bn, up by 13.8%. Levies and VAT on casino income was ZAR1.06bn, while consumables and services generated costs of ZAR651m.

The total operating costs brought the operating profit to ZAR1.13bn, which marked growth of 9.2%. Following other costs – including ZAR310m in finance expense – as well as a gain of ZAR11m from finance income, the profit before tax was ZAR722m for the half-year, up by 21.3%.

After considering ZAR237m in taxation, the overall profit for the half-year was ZAR485m, up by 41.0%.

Looking ahead to the second half of the year, Sun International said it anticipates continuous improvement in its operations despite “economic conditions in South Africa and the environment in which we operate” remaining challenging.

“With the strong momentum that we have achieved and having the right leadership in place, we will ensure that our strategy continues to deliver the required results.”

Casinos were first licensed in 1996 through the passage of the National Gambling Act. Before this, all gambling except horse racing was illegal in the country. Despite illegality, nine casinos operated pre-1996, with Sun City being the most famous. After the Act, between 1997 and 2002 the number of casinos mushroomed to 22.

Today there are 38 casinos operating across the country and a further three licences which remain unused. Within the 38 casinos, there are almost 21,000 slot machines and over 800 table games.

The bulk of the casinos – 36 to be precise – come under the auspices of just three operators: Sun International, Peermont and Tsogo Sun.

The advent of Covid on South Africa’s casinos

All of the country’s operators were battered by the arrival of Covid. The country followed so many others by shutting down any activities in which people might mix or be close to others. Despite the scale of many South African casinos, remaining open was just not an option.

“We had a raft of legislation that was put through to curtail the movement of people,” Peermont’s group gaming executive, Billy Gray, tells iGB.

“From 27 March 2020, everything physically was told to close until the end of June. The casinos, hotels, everything,” he recalls. “We were then allowed to reopen under certain conditions and with a lot of restrictions and revised operating hours.

“The casino and hotels were allowed to open but we were not allowed to trade after ten o’clock at night; sometimes that dropped to eight o’clock, sometimes it went up to midnight. We were not allowed to sell alcohol to anybody.”

When it could reopen, hours were limited to 6am-10pm. Even hotel guests had to stay in their rooms.

“In early 2021, they started to allow a little bit more in terms of operational hours but one still had to have social distancing,” Gray adds. (A venue that could hold 500 people was not allowed to have more than 200 people inside – and those people had to be more than 1.5 metres apart.)

Covid comes back

“At Emperor’s, for example, we kept the conference centre and some hotels closed, only opening one hotel for trade because there just wasn’t enough demand to justify anything else. We’ve got effectively four hotels on the property and it didn’t make sense to open all four while still under fairly severe restrictions. And then in July 2021 we had to close again because of the increase in Covid cases.”

That brought back the restricted operating hours. It was not until November 2021 that normal trading conditions returned.

“That’s not to say that everybody’s business went back to normal levels, but that we were allowed to operate within normal conditions. So the first full year of trading under normal conditions has been 2022 with all of our hotels, conferencing and casinos open – nothing has remained closed.”

South African casinos in an unprecedented situation

One of the issues for Peermont was something nobody could have foreseen, Gray says.

“None of our doors had locks. Our properties had never been closed, ever. We also struggled to find the combination to the vaults, because we’d never closed the vaults either.

“We had to go and buy chains and locks and we chained the doors closed.”

Any responsible organisation in such a crisis – even one where no end was in sight, as with Covid – will try its best to look after staff. Peermont and Sun International were no different.

Each operator took similar steps to safeguard jobs going forward. “One of the biggest things we did was cutting everyone’s salary to 40% across the board, from the most senior to the most junior,” Sun International CEO Anthony Leeming says. “The government did provide a little bit of assistance to employees but really that was to lower-paid employees, which is where it was needed the most. It was a very difficult time.”

Sun recognised the key to keeping everyone on board was open communication.

“I started doing some podcasts and sending them around to staff and my CEO started doing them as well,” says Leeming. “We just opened the lines of communication, made videos, trying to make it all personable, make ourselves available and that was critical.

“We really went out of our way to say, ‘we are here for you, these are things that can help you, there’s this assistance’, and communicate what’s happening with salaries and wages. I think we did exceptionally well in just communicating to our staff.”

Keeping the lights on while enhancing the property

Peermont reduced staff numbers by about 34% to stay afloat during the worst of the pandemic. The company also took steps to try and support retained employees.

“We instituted a free service where anybody in the organisation could go and speak a psychologist, to vent and speak about their issues just for somebody to listen to them,” Gray explains. “It was an exceptionally stressful time for everyone – even the fact that you had a job didn’t mean that you weren’t going through these different emotions.

“Nobody knew how long this was going to go on for because although we’d done this restructuring, there was still these further phases of Covid where people thought it could get worse, maybe their job and health is not safe.”

However, the pandemic also allowed operators to make significant changes that might not have been possible pre-pandemic. Some of the efficiencies came from new software implementation, or from changes made during the pandemic that stayed in place.

One of Peermont’s efficiencies has given them more player data to work with, rolling out the market’s first cashless player wallet.

“We were probably the first operator in the world to introduce an app where you can come to the property, you don’t have to go to a cash desk, you don’t have to have cash on you,” Gray says. “You can download funds via the app onto your ‘wallet’. You put your card into the machine, you load your funds onto the machine.

“At the end of your play you can hit ‘cash out’ and transfer the money straight back to your bank account. You don’t have to visit a cashier, go to an ATM: you don’t have to have any interaction with a person whatsoever.”

Pandemic efficiencies creates a data-centric approach

And the benefits? All that data and from every player.

“We realised we had the opportunity to go from 80% tracked play to 100%,” he continues. “Our ability to get information on our customers now has gone from 80% to 100%; I think if you asked any American casino what sort of percentage they track, they’re going to tell you 35%, maybe 40% if they’re lucky.

“With that data, combined with what we can see from online play, we have a complete view of our customers wherever they are playing with us. We’re getting a single view of our customer both from a land-based and an online perspective – plus when they stay in the hotel, go to the restaurants, when they enter the property, when they leave, how much they bet per spin, how many visits a month.”

Painful decisions for Sun International

“Just going into Covid we were finalising a restructure at central office so we had already recognised that we needed to improve margins,” Leeming explains.

“With Covid, with everything closing down, we had to make some really hard decisions; for example, we closed two properties, Carousel and Naledi. They were going to be closed anyway, but this process was accelerated thanks to Covid.”

Further restructuring, focused on big resorts and hotels, followed. “Casinos were primarily quite efficient, but certainly we looked at the hotels and resorts and we did undertake a Section 189 retrenchment exercise, cutting almost 2,000 staff.”

Some employees were outsourced and re-employed, he adds, but the pandemic heralded significant changes. “Besides that, we looked at a lot of areas where we thought, do we need this? We certainly cut a massive amount of costs out of the business; going forward, that certainly helped a lot in improving margins and has helped us recover a lot quicker than we might.”

What’s driving recovery for South Africa’s casinos?

Speaking of recovery, what have been the main drivers? What have people been doing at the properties now they’re allowed out? Is it the return of conferencing, the restaurants or the casino that’s bringing people in?

Gray believes people simply want to be out and about after such prolonged disruption.

“They just want to have a little bit of entertainment. They want to socialise. It’s the hotel. It’s the restaurants. It’s conferencing […] everything is growing significantly because people just feel they’ve got to get together. They’ve got to talk about things. They’ve got to get on with their lives.

“We’re social creatures and we need to get back to normal and we’re trying to find any which way that we can to get back to some form of normality.”

Sun International’s Leeming concurs: “We’re very comfortable with the bounce-back in our hotels and resorts. Some of the work we did during Covid in terms of improving the state of the properties, getting into deep maintenance, all of that is paying dividends now, where everything’s in a lot better shape.

“We didn’t stop working – obviously it slowed down a bit, but we were quiet or closed and we could do the kind of repairs and maintenance that are a battle to do when you are open. We really did a lot on that side to make sure we were ahead of the game when the recovery began.”

Fending off the online competition

The space is a little different in the casinos, he continues. There are a lot more tournaments, such as Black Opal for roulette, or Black Pearl for baccarat. Not to mention slot tournaments.

“These are to bring people back, to create more excitement. Now we’re also pushing the SunBet Poker Tour in our properties which is actually going exceptionally well.”

Stimulating that in-person experience was crucial, he adds. “With all the competition online, the casino side of the business has had to do a little bit more than they were before to win the customer over.

“Making sure we are the place to be needed a bit more emphasis. We’ve certainly done that and it has definitely paid dividends. We have gained some market share over this period, and I think it is because of all these activations and drive to make the environment a lot more entertaining.”

Hey big spender

Has Covid changed the nature of the players, or have they returned as was? It’s the higher-spending players first back through the door for Sun International, Leeming says.

“Certainly the players with money seem to have bounced back quicker than the mass market. So the bounce-back in the top end has been quicker than the main floor players.

“Trend-wise, is it different people? No. The customer base is still quite similar but certainly the contribution from the top end came back a lot quicker.”

Lessons from the pandemic

So what did the operators learn from an incredibly difficult period? And what will they be taking forward into a future which promises recovery, then growth?

It’s all about communication for Leeming. “[You] realise how valuable it is during a period like this. It’s one of the things that we’ve been complimented on. We just made sure we communicated, we pushed it out to everyone in the department, kept everyone informed.

“It’s not just talking to them, it’s being available – what a difference that makes to people, to the business culture. People need to see you, they need be part of things, they want to know what’s going on. Communication, staff engagement and openness is what really creates a culture.

“Some people beat around the bush, pretend it’s not so bad or try and put a positive spin on things because they don’t want to deliver bad news, but you lose credibility that way. We learned, we were very honest, very open and very available.”

The pandemic changed Peermont’s perspective, Gray adds. The tried and tested is no longer the default.

“It’s not, ‘oh well, we’ve always done it this way’. Yes, we’ve tried that, it didn’t work. I think we’ve all taken a step back and said, ‘you know what? Let’s just forget what the past was and let’s relook at how we do business.’

“That’s across our normal operating procedures from when the customer walks on to the floor, how they’re treated, every little bit of the business had to be reviewed. We’re trying to keep that thought process going rather than go back to the way things were.”

The GCGRA will be responsible for coordinating regulatory activities in the Emirates, which includes managing licensing.

It is still unclear what form the final regulations will take, with many questions still unanswered. These include exactly what forms of gambling the UAE will permit and whether there will be an online component.

Questions also persist on how this links to Wynn Resort’s ongoing development of a new casino on Al-Marjan Island in the Emirate of Ras Al Khaimah.

In an earnings call for Wynn’s second quarter results, Wynn CEO Craig Billings said he expected Wynn’s Ras Al Khaimah licence to be issued “imminently”. It is unclear whether the announcement of a federal model means that Wynn will be required to reapply.

Another question that remains is whether the countries two existing raffles, Emirates Draw and Mahzooz, will be regulated by the GCGRA, through its regulation of lotteries in the Emirates.

Kevin Mullally tapped as chief executive

Former Missouri Gaming Commission executive director Kevin Mullally will lead the new regulator as its chief executive. More recently, Mullally spent 17 years at Gaming Laboratories International (GLI).

Meanwhile, Jim Murren will chair the organisation’s board of directors. Murren led MGM Resorts as chairman and CEO from 2008 to 2020.

“I am delighted to have been appointed as the inaugural CEO of the GCGRA,” said Mullally. “With my experienced colleagues, I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry.”

Murren added: “I am delighted at the appointment of Kevin Mullally. He brings unparalleled category experience and will be invaluable in creating a fit-for-purpose regulatory framework for the UAE.”

Consultants push UAE for federal approach to gambling regulation

According to iGB sources, GLI has taken the lead on consulting on the creation of the UAE’s regulatory framework.

Eilers & Krejcik Gaming, a gaming consulting and market research firm, also played a supporting role in this work. The consultant has historically involved itself more in digital offerings, leading to speculation the UAE indeed plans for there to be an online offering.

These firms pushed for the government to handle gambling regulation on a federal level, as opposed to being the responsibility of individual emirates.

Sources also said the UAE plans on establishing a 25% revenue tax on mass market gambling, with premium gaming subject to an 8% tax.

Wynn’s $3.9bn planned UAE casino development

The establishment of the new regulator comes as Wynn begins construction for its Al-Marjan casino.

The development, which broke ground recently, is due to be completed by 2027. Wynn holds a minority stake in the venture, with 60% of the business owned by the operator’s local partners.

The GCGRA will likely be the organisation that provides Wynn the licence for its $3.9bn casino development. However, question marks remain over how this will work in practice.

At present, according to UAE federal law, any person who engages in gambling can be subject to two years in prison and an AED50,000 (£10,700/$13,600/€12,600) fine.

Other failings related to overreliance on high thresholds for enhanced due diligence (EDD) intervention and lack of clarity in this approach. The review also noted a lack of consistency in the effectiveness of EDD checks.

The Commissioner said there was an inconsistent approach over keeping accounts open with restrictions as opposed to closing accounts.

In addition, the review flagged an overreliance on open-source checks and failure to ask customers to provide source of funds and source of wealth documentation.

Middle Eastern VIP scandal leads to CEO’s resignation

The William Hill operator suspended Middle East VIP activities in January pending the outcome of an internal compliance investigation. 

The business said certain best practices had not been followed over KYC and anti-money laundering (AML) processes for 888 VIP customers in the region. This led to Itai Pazner being removed as CEO of the 888 parent group.

While the case related to activities in the Middle East, the review ran in agreement with the Gibraltar Commissioner. The company operates across a range of market but is headquartered in Gibraltar.

This process led to 888 putting new policies and procedures in place to avoid similar issues in the future. Relevant accounts were also subject to an updated risk assessment process.

Gibraltar regulator’s ruling on the case

Making its decision on the case, the Commissioner took into account a number of factors. These included 888 self-declaring the issue and the suspension of all accounts impacted.

The regulator also acknowledged how 888 immediately launched an internal compliance review, with systems and controls having been quickly improved in the period following the admission.

For the avoidance of doubt, the regulator also noted that no specific cases were identified that involved 888 dealing with the proceeds of crime or terrorist financing.

In lieu of a financial sanction, the Commissioner reached a regulatory settlement of £2.9m with the 888 subsidiary. 

Part of the settlement will be made available to the Centre of Excellence for Responsible Gaming at the University of Gibraltar.

“Gibraltar licensees are expected to factor the learnings from this case into their own risk assessments, systems and controls,” the Commissioner said.

“888 continues to be considered a fit and proper entity to hold licences in Gibraltar. 888 has enhanced its policies and procedures in remediating the identified historical deficiencies. 

“The Gambling Commissioner and Licensing Authority consider this matter closed and will be making no further comment on this matter.”

Pro-forma revenue falls in H1

News of the settlement comes as 888 posted its results for the first half of 2023. Pro forma revenue fell 6.5% to £881.6m after a decline in its online segment offset retail growth.

The six-month period to 30 June was the second half-year since 888 acquired William Hill’s non-US assets for £1.95bn. Pro forma results were reported as if the William Hill assets were also part of 888 in H1 last year.

Speaking in an earnings call, 888 executive chair Lord Jon Mendelsohn highlighted the impact of the business’ compliance and sustainability initiatives in the wake of a period of regulatory risk.

Mendelsohn said the 888 board remained focused on its sustainability and compliance initiatives. He termed this “fundamental” to the business the team was building.

It currently holds licences in Kenya, Zambia and the Democratic Republic of Congo. This helps further scale 888’s African business as well as adding more than three million registered customers, the operator said.

“This acquisition is a critical step as we aim to create truly unique betting and gaming experiences to players across Africa,” 888Africa chief executive Christopher Coyne commented. “The talent and technology at BetLion is perfectly suited to our growth model and ambitions and will help to further strengthen our offering as we look to build market-leading positions across Africa. 

“We also look forward to working with our new colleagues and introducing new customers to our local brands.”

BetLion’s industry heritage

Victor Chandler established BetLion in 2017, three years after leaving the business now known as BVGroup, targeting the East African region. 

It offers high-quality, low data and mobile-first betting and igaming to customers, using a bespoke front-end solution and FSB’s sportsbook technology.

888Africa is “a business with huge ambitions on the continent”, according to BetLion managing director Robert Chirchir. 

“We’re delighted to be getting involved in its exciting growth journey and supporting its expansion through our market-leading front-end software and platform and established licences across the region,” he said. “We look forward to working more closely with the team and continuing to delight customers with our joint offer.”

888’s African joint venture

BetLion’s three million customers further strengthens 888Africa’s presence on the continent. 

Launched in March 2022 as a joint venture between 888 and a group of industry veterans, it currently operates in Kenya, Tanzania, Mozambique and Zambia. 

888 holds a minority stake in the business and receives a licence fee to use and operate brands such as 888Bet in Africa. 

Former Stars Group CMO Coyne leads the business as CEO, alongside Stars’ sportsbook managing director Andrew Lee and trading director Ian Marmion. Helen Scott-Allen, former CFO at Premier Bet and ex-Editec chief product officer Alex Rutherford round out the management team.

While 888 currently owns a minority stake, it has an option to increase its holding and ultimately buy the business outright.

10bet will roll out a series of fan engagement activities as part of the deal. In addition, the operator will support the SAFA with its community initiatives. 

Licensed in South Africa, 10bet also holds approval in the UK, Ireland, Sweden and Mexico.

“We are delighted to partner with 10bet South Africa,” SAFA’s chief executive, Lydia Monyepao, said. “This is the beginning of a relationship between two ambitious and forward-thinking brands. 

“We hope this partnership will help us bring fans the best possible product and experience and continue growing South African football.”

10bet’s South Africa chief revenue officer, Henriques Colborne, added: “This is an exciting partnership based on pride, passion and love of the beautiful game. 

“Bafana Bafana is an iconic brand that’s at the heart of millions of South Africans. It is also one that has played a pivotal role in bringing people together, generating excitement and positively impacting communities.

“It is a perfect fit for our growing brand locally.”

Owen played for English Premier League clubs Liverpool, Manchester United and Newcastle United, as well as Spanish La Liga giant Real Madrid.

The striker scored 40 goals in 89 appearances for his national team, while he also won the 2001 Ballon d’Or.

“Anyone who loves the English Premier League and football in general will appreciate his deep knowledge of the game, coupled with his articulate and insightful commentary and analysis which have made him one of the most sought-after football media personalities in the world,” SunBet chief executive Simon Gregory said.

“As a former player at the highest level, he knows exactly what goes through the minds of players and managers at key points in a match and during the course of an arduous season and brings this to bear in his commentary and analysis.”

Growth plans

The partnership comes after Sun International earlier this year signed an extension to its multi-channel sportsbook deal with Kambi Group.

Kambi will continue to provide Sun International with its sports betting technology and services across online and retail.

The two parties have been working together across both channels in the South African market since November 2017.

The Betting Control and Licensing Board (BCLB) is responsible for licensing operators to offer gambling such as lotteries, betting and gambling. 

However, the MCK regulates and monitors the media sector, including ensuring journalists and media entities write fair, accurate and unbiased stories of matters of public interest.

As such, in line with the Media Council Act 2013, Omwoyo said media organisations must ensure any promotion or advertising for gambling on their platforms only promotes licensed activities.

“This advisory is issued in public interest to protect investors and to ensure the highest standards of media practice in relation to advertisement of gaming activities on media platforms,” Omwoyo said.

Andreas Leitinger, who is to be based in Solvenia, has been hired to Zitro’s sales team. As the new sales manager, Leitinger will oversee the company’s key markets, including Germany, Luxembourg and Slovenia among others.

“Andreas brings years of experience in leading companies in the gaming industry, and his expertise will help Zitro expand its reach in these regions,” said the business.

Zitro also opted to promote Krystian Konopka to a sales manager after a “successful” career with the business. Konopka will be responsible for overseeing the business’ sales operations in Poland, Ireland, Sweden and Egypt.

The business also announced that John Morris is to provide support for the international sales team. He is to contribute to product strategies and positioning.

“His efforts will ensure competitive game performance in selected markets while also exploring new business opportunities,” said Zitro.

“We are proud to have John, Andreas and Krystian on board as part of our growing team,” said Zitro EMEA sales director Nadège Teyssedre. “With their experience and expertise, we see tremendous potential for further growth and expansion in the European gaming market.”