Nigerian authorities have declared the casino operator Stake illegal, resulting in a ban across 24 states. The decision from Nigeria's gambling regulators indicates that Stake lacks the necessary license to operate in the country and has outstanding tax obligations. The Lagos State Lotteries and Gaming Authority (LSLGA) announced the ban, adding Stake to the list of blocked entities and extending the restriction to all 24 states as designated by the Federation of State Gaming Regulators of Nigeria (FSGRN).
As the second-largest betting market in Africa, following South Africa, Nigeria has a Competitive Earnings Baseline (CEB) of $789 million. The LSLGA reaffirmed their commitment to ensuring consumer protection, particularly for minors, while maintaining market integrity and enforcing compliance with state laws and tax requirements for gaming operators. Additionally, the LSLGA has recently implemented a 5% tax on gambling winnings, reflecting ongoing efforts by state regulators to tighten control over online gaming licenses.
