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Angola's gambling revenue surges by 126.9% in Q1 2024

Angola's gambling revenue surges by 126.9% in Q1 2024

Angolan Gaming Supervision Institute (ISJ) has released its Quick Information Sheet (FIR) for the first quarter of 2024, providing key statistical and tax information about the gaming sector.

The report highlights a strong revenue performance for Q1 2024, with total collections reaching Kz 4,228,754,368.00 (four billion, two hundred and twenty-eight million, seven hundred and fifty-four thousand, three hundred and sixty-eight Kwanzas). The Special Gaming Tax (IEJ) constituted 98% of this amount, equating to Kz 4,127,087,702.00 (four billion, one hundred and twenty-seven million, eighty-seven thousand, seven hundred and two Kwanzas). The primary contributor to this revenue was odds sports betting, both territorial and online.

In comparison to Q1 2023, the IEJ collections demonstrated significant growth. The inflow to the state accounts increased by Kz 2,307,814,047.53 (two billion, three hundred and seven million, eight hundred and fourteen thousand, forty-seven Kwanzas and fifty-three cents), marking a 126.9% rise.

The National Institute of Gaming Supervisio ISJ, as the specialized body responsible for regulating, supervising, inspecting, and monitoring the gaming industry in Angola, plays a crucial role in supporting the Executive in defining policies and ensuring the sector's compliance with regulations.

The  ISJ is responsible for issuing licenses for operators of casinos, gaming halls and sports betting, including online gambling. The license can be extended to all types of gambling, to individual games of chance or to their periodic offer. Licenses are usually valid for 10 years.

Published June 9, 2024 by GamblingTalk
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