The fallout from recent regulatory uncertainty affecting the gambling industries in Uganda and Kenya will linger for some time, according to Africa-facing investors and affiliates.
Speaking at the Betting on Sports event in London, Mathew Symmonds, CEO of Web Analysis Solutions, one of Africa’s largest affiliates, said that the decision taken by Kenyan authorities not to renew gambling licences on July 1 wiped out 30 percent of his company’s revenue overnight.
“Our website traffic is still down by 50 percent,” said Symmonds. “There will be long-lasting damage to the Kenyan gambling industry. Customers had their money locked in gambling accounts and payments to operators blocked. It will be a long journey for the industry to return to normality.”
To continue reading please log in or request a demo to speak to a member of the team.
Request a Trial
Click here to request a trial