DETAILED REQUIREMENTS FOR CASINO GAMING PERMIT(CGP)

Stage 1: Application Requirement Applicants must submit a proposal to National Lottery Regulatory Commission (‘TheCommission”) with the following information anddocuments.

A. Completed National Lottery Regulatory Commission application form

B. An application letter stating the intention of the applicant

C. Non-refundable Application and Processing fee of N2,000,000.00 (Two Million Naira) payable to the Commission

D. Five (5) Year Permit Fee N100,000,000.00 (One Hundred Million Naira Only) payable to the Commission upon clearing the document review process.

E. General Business Information

i. Incorporation documents: Certificate, MEMART and Application Form 1.1 (or Form CAC 2 and CAC 7)

ii. The applicant company must have a Minimum share capital of N30,000,000.00 (Thirty Million Naira)

iii. Evidence of filing annual returns to date with the Corporate Affairs Commission

iv. Profile of the Company and each of its Directors

v. Address of administrative office and locations across Nigeria

vi. Evidence of Domain name registration with (ng/.com)

vii. Proposed Brand: Evidence of registration with Ministry of Trade and Investment, Trade name, logo and colours

viii. Name and profiles of all Directors and Key Personnel including Company Secretary, Compliance Officer, Accountant, ICT Manager, Operations Manager, Agency Manager(s) and Customer Care Manager

ix. Qualification and relevant gaming industry experience of Directors or Key Personnel x. Evidence of tax payment by Directors and Key Management Staff for the preceding year

xi. Copy of Organogram and Proposed Organizational Structure

F. Operational Information

i. Details of planned game events (live casino games, sports book, virtual games and etc) and comprehensive modalities for each of the game events

ii. Proposed distribution channels: retail, web-based, SMS, Mobile app or other channels

iii. Operations, Marketing and Distribution Strategy showing expansion plans across Nigeria

iv. Betting modalities, Terms & Conditions of Participation, and game rules

v. A Casino gaming industry analysis including SWOT analysis and competitive advantage of the proposed Casino gaming scheme.

G. Financial Information

i. The proposed investment in the Casino gaming scheme

ii. Source of funding and financing plans: equity, foreign investment, loans and applicable terms of investment

iii. Evidence of financial capability to fund the operation of a Casino gaming scheme, including the Company’s Bank Statement for the last two (2) years

iv. Five (5) Year financial projection for the betting scheme: profit and loss account showing investment, sales/income, winnings/prize money, tax obligation, operating expenses, third party suppliers etc.

v. Details of payment solution provider and proposed integration plan with such providers. A service agreement with the provider.

H. Technical information

i. Letter of introduction to the Commission (NLRC) from ALL technical solution providers (software providers, hosting company and any other technical support services) engaged by the applicant stating specifically the nature of services to be rendered, supported with relevant documents (SLAs).

ii. Letter of undertaking from ALL technical solution providers (software providers, hosting companies, and any other technical support services) engaged by the applicant stating their commitment to fair and equitable service to their client and to promote the development of global gaming by implementing best practices in compliance and service delivery.

iii. Provide evidence of standard certification for the proposed platform/equipment/machines. Copy of the result of a recent Laboratory test executed on the gaming platform or any written document either as approval or endorsement from a recognized regulatory authority verifying the integrity of the proposed platform.

iv. A document detailing all components (Operating Systems, Gaming software, Databases) and hardware & specifications (Servers, UPS, switches, routers, firewalls, etc.) to be implemented during the setting up of the platform.

v. Schematic diagram providing a concise illustration of the technical operational flow.

vi. Note: At the end of this application process, applicants will be required to present to the Commission. Application review takes 10 working days.