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Gaming Outlook -Nigeria Licensing and Operating a Gaming Company in Nigeria
Presented by:Yahaya Maikori
Outline
About NigeriaGaming historyEras of the Nigerian Gaming Industry
◦ 1970-1999 era ◦ Post 1999 era
market share in the gaming industry Industry RevenueNigeria on the African continentSetting up in Nigeria Lagos as a case studyGeneral Entry Requirements for foreign entities: Rules and RegulationsGeneral Taxation Requirement
Overview of the Nigerian Gaming Industry
Brief history
◦ Pools was predominant before lottery was introduced by Ghanaians
◦ Largely unregulated and all comers affairs
◦ Coupon transactions that was not transparent and prevented accountability
◦ Just another (minor) source of revenue for the Internal Revenue Service
Lottery
Pool
Slot
Pre 1999 -
Nigerian Gaming Industry
Laws and policy
Casino taxation 1965
Lagos State Lotto Authority, Cap L33
Lotteries and Pools Betting Law Cap L76
Cross river casino & Gaming Houses(control &licensing) law 1983
Banning on the importation of slot machines
Pre - 1999 (cont’d):
Nigerian Gaming Industry
Law & Policy The Constitution of the Federal Republic of
Nigeria 1999
Taxes and Levies (approved list for collection) Act 1998
Casino and Gaming Law of Lagos State 2004
National Lottery Regulatory Commission 2007
Partial lifting of ban on slots machine
Privatization
Post 1999 -
Post 1999 Era (cont’d)
Technology The advent of technology – mobile and internet, has impacted and led to the advent mobile,, online, and retail gaming
Mobile/telecom
Internet access/ telecom
Government cashless society policies
Cable/live broadcasts of sports
Gaming industry chart
LotteryPromoPoolSport bet-ting
Sample Revenue (Lagos state operator)
2012 2013 2014 (6
months)
5.5
Year 300 680 750 NaN NaN NaN NaN NaN NaN
50
150
250
350
450
550
650
750
Axis Title
Reven
ue ₦
(in
million
s)
Nigeria V Africa : Projections & the future
“……….South Africa even with the most mature market, it doesn’t mean that it is going to outgrow Nigeria and Kenya. In fact, PWC gas tipped south Africa as the slowest growing of the 3 markets. Taken all together the 3 regions are expected to generate as much as $2.9 billion by 2017 representing a significant spike interest from gamblers for all gambling options available in the 3 countries” - calvinayre.com
“For the forecast period as a whole, gross gambling revenues will expand at a projected 16.3% compound annual rate to $66 million in 2017”.PWC gaming outlook on Nigeria , 2013
Some facts about Nigeria
Setting Up in Nigeria: Lagos as a Case StudyApplying for a license Incorporate a Nigerian company or JV with existing company 15% local content (Nigerian ownership) Demonstrate experience, expertise and knowledge of gaming Record in the gaming industry and examination of previous
operation in other jurisdiction Demonstrate financial capability and sustainability
LSLB NLRC OTHERS
LOTTERY 200mil for 5years
Varies/emerging
SPORTS BETTING 20mil per annum
Not regulated Varies/emerging
INTERACTIVE 5mil per annum
Not regulated Not regulated
PROCESSING PERIOD
3 to 6 months
Registrations ,Permits & Others
Nigerian Investment Promotion Commission (NIPC)
Special Control Unit against Money Laundering (SCUML)
National Office for Technology Acquisition and Promotion (NOTAP)
Domain name (.ng)
Capital Importation Certificate
Pension and health scheme
Federal Inland Revenue services- Tax Identification Number- Value Added Tax Registration
Tax
1. Federal taxes Education tax Company tax Value added tax With Holding Tax
2. State taxes Withholding Tax (WHT) Personal Income Tax (PIT) Other local taxes Gaming/ good causes taxes
Suite 316, 3rd FloorAdamawa Plaza
Central Business DistrictAbuja – FCT.
Thank You!
Any Question?!
