Sportpesa shuts down operations in Kenya

Regretfully, SportPesa has decided to halt operations in Kenya.

File image of SportPesa Chief Executive Officer Ronald Karauri (left) flanked by Kirimi Kaberia

Sportpesa, Kenya's largest sports gaming firm, has announced plans to exit the Kenyan market, citing hostile regulations.

The decision to halt its operations in Kenya comes after months of protracted legal battle with state agencies that saw the firm lose its bid to halt taxation.

The firm revealed that it would only resume operations after "adequate taxation and non-hostile regulatory environment” is put in place.

“Greetings! Regretfully, SportPesa has decided to halt operations in Kenya due to the decision by the Kenyan legislature to impose a 20% excise tax on all betting stakes. Thank you for the support,” part of the statement read.

The firm had expressed disappointment in recent days, noting that "Sportpesa is disappointed with the decision by the Kenyan legislature to impose a 20% excise tax on all betting stakes. The tax is based on a fundamental misunderstanding by the Rotich led treasury of how revenue generation works in the bookmaker industry," read the statement in part.

It added; "Until such time that adequate taxation and non-hostile regulatory environment is returned, the SportPesa brand will halt operations in Kenya."

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

How innocent photo with Raila ruined my life - Sasha Mbote opens up [Video]

How innocent photo with Raila ruined my life - Sasha Mbote opens up [Video]

Bobi Wine lectures Museveni's son Gen Muhoozi over father's succession

Bobi Wine lectures Museveni's son Gen Muhoozi over father's succession

DCI releases photos of 'Basmati Babes' accused of drugging clubgoers in Nairobi

DCI releases photos of 'Basmati Babes' accused of drugging clubgoers in Nairobi

DCI shares photos, whereabouts of suspected Mirema shooting mastermind

DCI shares photos, whereabouts of suspected Mirema shooting mastermind

Late night fire torches section of Moi Girls High School Eldoret [Video]

Late night fire torches section of Moi Girls High School Eldoret [Video]

More colonial-era bombs resurface in Kiambu, latest discovery by quarry worker

More colonial-era bombs resurface in Kiambu, latest discovery by quarry worker

Why Charles Owino was recalled to the police service despite resignation

Why Charles Owino was recalled to the police service despite resignation

DCI exposes how Mugota operated ATM and bank fraud syndicate [Video]

DCI exposes how Mugota operated ATM and bank fraud syndicate [Video]

Uhuru's cousin loses bid to stop takeover of 443-acre land in Thika

Uhuru's cousin loses bid to stop takeover of 443-acre land in Thika