Saturday, September 28, 2019

No more 'Sportpesa' : Kenya largest betting firm 'shuts down' its operations in kenya

Betting firms,Betin and Sportpesa shuts down all operations in kenya.

Comfirming this on a statement seen by eldoretplus,Sportpesa affirmed its customers that it would resume its operations when Kenya puts in place 'adequate taxation and non-hostile regulatory environment for them.



The decisions comes only a month after KRA -kenya Revenue Authority had cleared  the firm to reapply for a fresh operating License.So what went wrong?
No more 'Sportpesa' : Kenya largest betting firm to shut down its operations in kenya
According to sportpesa,the 20% withholding tax on the winners stake would no only deprive consumers of their total winings but also, it will bring about severe consequences to licensed betting Companies.

With their paybils and short codes still closed by the government,Sportpesa,until such time that adequate taxation and non-hostile regulatory environment is returned...it will stay closed,halting its operations in Kenya
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SportPesa and Betin were among 27 betting firms whose licenses were revoked and their directors ordered out of the country.



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