13 May NLRC Grants Online Casino And Sports Betting Permits

NLRC Grants Online Casino And Sports Betting Permits

The Director General, National Lottery Regulatory Commission, Lanre Gbajabiamila OON has emphasized the NLRC’s commitment to attracting Foreign Direct Investment (FDI) to Nigeria through the Gaming Industry.

He said this at the permit presentation ceremony which took place at the NLRC Headquarters in Abuja recently, where four new companies, SV Gaming Limited, trading as BetKing Casino; Fortune House Network Limited, trading as Waje; Favour Bet Limited, trading as FavourBet365; and Jack Nickel Integrated Concepts Limited, trading as Betg8t were granted National Permits for sports betting business.

Jack Nickel Integrated Concepts Limited Director, Chief Sunday Aderegba (right) receives the company’s permit from the DG NLRC

While addressing the gathered representatives, Mr Gbajabiamila underscored the pivotal role that foreign investors play in stimulating economic growth and fostering innovation within the country.

He welcomed the companies into the gaming industry while emphasizing the importance of not taking the Permits for granted, urging the companies to familiarize themselves with the terms and conditions outlined in their agreements.

SV Gaming Limited Managing Director, Gossy Nkanwoke receives his comany’s Casino Permit from the NLRC DG

“We are here to support you where need be, and any ignorance of these terms and conditions signed shall not be tolerated or accepted. Remember we are watching you. Make sure you play by the rules,” he affirmed.

Fortune House Network Director, Muhammed Ibrahim recieving his permit from the NLRC DG

He reiterated the NLRC’s commitment to an open-door policy, emphasizing that compliance with regulations is vital for a mutually beneficial relationship between the regulator and the operators. He also urged the companies to prioritize the employment of Nigerians.

NLRC DG presents permit to FavourBet CEO, Inseong Han.

In response, representatives from the four companies expressed their gratitude to the NLRC for entrusting them with the opportunity to operate in this sector.

According to them, even though the licensing process was a rigorous one, they will not take it for granted and will obey the rules of our terms and conditions.

They also pledged to maintain a harmonious relationship with the NLRC and expressed their commitment to giving back to society.

By Garos Gyang