Nigeria’s gaming authorities classified casino operator Stake as illegal and ordered immediate block in 24 states.
According to the country’s gambling authorities, operator didn’t hold Nigerian licence and had unpaid taxes.
The banning was announced by Nigeria’s Lagos State Lotteries and Gaming Authority (LSLGA) adding Stake to the Lagos’s blocked list and extended the restriction to all 24 states represented by the Federation of State Gaming Regulators of Nigeria (FSGRN).
Nigeria is the second largest betting market in Africa, after South Africa. The market has a Competitive Earnings Baseline (CEB) of $789m.
The LSLGA stated:
LSLGA and FSGRN remain committed to protecting Nigerian consumers, safeguarding minors, preserving market integrity and ensuring that gaming operators comply fully with applicable State laws and tax obligations.
The LSLGA recently introduced a 5% tax on gambling winnings. Nigeria’s actions come as state regulators tighten control over online gaming licenses.
