Nigeria GGR to grow in five years

According to a report by PricewaterhouseCoopers, Nigeria is set to experience a 16 per cent GGR growth over the next five years.

Nigeria.- Nigeria is one of the most successful markets for gambling in Africa and is expected to be even more successful in the future. According to a report by PricewaterhouseCoopers (PwC) called “Gambling Outlook 2013-2017”, gross gambling revenues are set to grow 16 per cent over the next five years.

The report talks about a variety of sports betting, Live Multi Game (LMG) terminals, the national lottery and bingo in South Africa and Kenya, but focuses on the casino offering in Kenya and Nigeria. Furthermore, it highlighted the state-wide lottery titled Quick Lotto which is to be rolled out in the latter.

According to Senate Committee on Capital Market former chairman Ayo Arise, the launch of a national lottery service would benefit Nigeria through additional tax revenues and new jobs in the country. He projected as much as 20 per cent of the profits generated from the national lottery could be redirected to the Federal Government, which is set to use the money for good causes.