Published
OnlineLegal & RegulatorySports Betting

SportPesa will reconsider Kenyan market following tax ruling

SportPesa CEO Ronald Karauri has said the operator will reconsider operations in Kenya following the overruling of a 20% tax on winnings.

ronaldkarauri

The company recently halted operations in the country after the Government imposed the 20% excise tax on all betting stakes.

Speaking with Gambling Insider at the time, Karauri explained how the tax made it unfeasible to remain in the market.

He said: "This is expected to be a 20% tax on the amount staked. The fact we already have a tax on winnings means the business model completely collapses."

At a recent hearing, the Kenyan Tax Appeals Tribunal overturned the excise tax, ruling that "total winnings" as stipulated in the tax do not include the amounts originally staked by the bettor.

In a statement released to Gambling Insider, Karauri said: "Today’s ruling is a significant development for both SportPesa and the wider betting sector in Kenya, reversing previous government policy that had rendered the sector commercially and economically unviable.

"SportPesa will now re-consider the future of its operations in Kenya. We remain committed to working closely with all stakeholders in Kenya as we seek to renew our license and resume our operations in the near future."

Premium+ Connections
 
Premium

Imagine Live

 
Premium

Digitain

 
Premium

Galaxsys

 
Premium

Sport Generate

 
Premium

1xBet Partners

 
Premium

PIN-UP Partners

 
Premium

GammaStack

 
Premium

Lynon

 
Premium

RISK

 
Premium

Revsharks

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...