Managers of leading regional gaming firm BetLion insist they have no qualms over the perceived high tax rates imposed on the industry players by the government.
The leading regional betting brand formally opened shop in Kenya on Thursday during a glittering ceremony at a Nairobi hotel, making an entry in to what seems to be an already congested market consisting up to 40 other players.
Speaking at the event, BetLion Managing Director Spencer Okach also vowed to not only offer customers better betting options but also play a leading role in developing sports in the country.
He said: “Taxes are there all over the world. We will pay our taxes as required because we have done our homework and I can assure you we are not joining this market to make losses.”
The government recently reduced its tax on gaming and betting companies by 20 percent to 15 percent, and additional plans are underway to also tax winners.
“We are excited to be here as this is one of the most attractive countries in Africa, Kenyans are techno-savvy and creative. We have employed an all Kenyan team.”
Former Harambee Stars captain Musa Otieno, who led the national team to its last appearance at the Africa Cup of Nations in Tunisia in 2004, welcomed BetLion to the Kenyan market and encouraged its hierarchy to support the side’s current crop of players alongside coach Sebastian Migne.
BetLion has its roots in neighbouring Uganda where it boasts a reported Sh50 million annual sponsorship deal with the country's men's national football team.