Transcript Gaming Outlook -Nigeria

Gaming Outlook -Nigeria
Licensing and Operating a Gaming Company in Nigeria
Presented by:
Yahaya Maikori
Outline
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About Nigeria
Gaming history
Eras of the Nigerian Gaming Industry
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market share in the gaming industry
Industry Revenue
Nigeria on the African continent
Setting up in Nigeria Lagos as a case study
General Entry Requirements for foreign entities:
Rules and Regulations
General Taxation Requirement
◦ 1970-1999 era
◦ Post 1999 era
Overview of the Nigerian Gaming Industry
Pre 1999 
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
Nigerian Gaming Industry
Pre - 1999 (cont’d):
Laws and policy
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Casino taxation 1965
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Lagos State Lotto Authority, Cap L33
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Lotteries and Pools Betting Law Cap L76
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Cross river casino & Gaming Houses(control
&licensing) law 1983
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Banning on the importation of slot machines
Nigerian Gaming Industry
Post 1999 Law & Policy
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The Constitution of the Federal Republic of
Nigeria 1999
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Taxes and Levies (approved list for collection)
Act 1998
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Casino and Gaming Law of Lagos State 2004
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National Lottery Regulatory Commission 2007
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Partial lifting of ban on slots machine
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Privatization
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
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Mobile/telecom
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Internet access/ telecom
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Government cashless society
policies
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Cable/live broadcasts of sports
Gaming industry chart
Lottery
Promo
Pool
Sport betting
Casino Slots
Revenue ₦ (in millions)
Sample Revenue (Lagos state operator)
800
700
600
500
400
300
200
100
0
Year
2012
300
2013
680
Axis Title
2014 (6 months)
750
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 Study
Applying 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
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Nigerian Investment Promotion Commission (NIPC)
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Special Control Unit against Money Laundering (SCUML)
National Office for Technology Acquisition and Promotion
(NOTAP)
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Domain name (.ng)
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Capital Importation Certificate
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Pension and health scheme
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Federal Inland Revenue services
Tax Identification Number
Value Added Tax Registration
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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
Thank You!
Any Question?!
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Adamawa Plaza
Central Business District
Abuja – FCT.
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