Operators Of Lottery, Pools, Betting To Pay N20 Million For License Fee In Lagos
Operators of lottery, pools and betting in Lagos will be charged N20million license fee if a Bill proposed by the State’ Lagos Assembly on Laws on betting is finally approved by the state government. This was disclosed yesterday as the Bill, entitled; “Lagos State Lotteries and Gaming Authority Bill Arrangement Of Sections” went through a public hearing at the State House of Assembly. According to the Bill, “before a license is granted to an operator, the Authority shall be satisfied that the applicant is a registered company in Nigeria with a minimum share capital of N20,000,000 (Twenty Million Naira) or as may be directed by the Authority.” It also specified that the local content shareholder shall abide by the regulations, policies, terms and conditions issued by the Authority.It was also revealed at the public hearing that the new bill, when it becomes law, will consolidate all the laws in the sector and repeal existing laws such as the Lagos State Lotteries (Amendment) Law 2008, the Lagos State Lotteries Law (2004), and the Casino and Gaming Regulatory Authority Law (2007). Others are Casino and Gaming Regulations (2007), Pools Betting Control Law (2003) and Pools Betting Tax Law (2003).
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