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SportPesa plotting comeback after breakthrough in licence talks

4th September, 00:03

SportPesa has been cleared by the Kenya Revenue Authority (KRA), and can now move to re-acquire its trading licence.

According to a statement released on Tuesday and seen by GameYetu on September 3, the giant sports betting firm revealed to customers that it had made noteworthy improvement in its engagements with relevant stakeholders regarding its licencing issue.

The firm can now apply for a new licence which is issued by the Betting Control and Licensing Board (BCLB).

SportPesa was among 27 betting firms that had their trading licences revoked by the government due to failure in meeting tax compliance policies two months ago.

Here is part of the firm's latest statement:

"Sportpesa has been engaging stakeholders on the current licensing issue. Our sessions with regulators and government are targeted towards creating a better understanding of the gaming industry with the view of creating a shared perspective on related regulation, including tax administration," read part of the statement.

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The firm goes on to reveal significant movement had been made in talks with the relevant shareholders and that they have been cleared by KRA, which means they are allowed to seek a new licence and get back to business.

"There has been notable progress in these sessions and we are pleased to announce that Kenya Revenue Authority have now cleared us to have our license renewed. SportPesa is confident that these processes will be completed soon allowing the company to resume full operations," the firm revealed.

The firm then reassured customers that it supports the State's long-term growth agenda and that it is keen on operating lawfully.

"We reaffirm our commitment to supporting the government's economic development agenda by operating as a law-abiding business that is committed to tax compliance,"

Once it acquires its licence, SportPesa will join 10 other companies which were cleared in July. These include Betway, Mozzart Bet, Odi Bets, Eastleigh Bet, Lucky to you, Ken book makers, Bet boss, Kick off, Easi bet and Palms bet.

Source