Kenya’s BCLB reduces licensed gaming companies to 118 for 2024/25

The Betting Control and Licensing Board (BCLB) of Kenya has announced a decrease in the number of licensed gaming companies for the 2024/25 trading period, now totaling 118, down from 128 at the start of the year. 

This change comes as 106 companies have had their licenses revoked, while 12 new firms have entered the market, including Better Bet Limited, Poker Kings Limited, Grantel Limited, Lynkam Solutions Limited, Bantula Limited, Glory Bet Limited, Ceylonite Limited, Superior Ideas Kenya Limited, Kelkam Ventures Limited, Derlin Limited, Lucky Majesty Limited, and Top Deck Entertainment Limited. 

Additionally, 22 companies have voluntarily ceased operations.

Kenyan betting companies are subject to a 15% tax on gross gaming revenue, a 30% corporate tax on profits, and a 16% income tax. Gamblers also bear a financial burden, paying a 12.5% excise tax on betting stakes and a 20% withholding tax on winnings.

For instance, the Treasury recently sought to raise the excise duty on betting stakes to 20% through the Finance Bill, 2024. However, this proposal was ultimately rejected, keeping the tax rate at 12.5%.