Operators of lottery, pools and betting in Lagos will be charged N20 million license fee if a Bill proposed by the State’ Lagos Assembly on Laws on betting is finally approved by the state government.
This was disclosed yesterday as the Bill, entitled; “Lagos State Lotteries and Gaming Authority Bill Arrangement Of Sections” went through a public hearing at the State House of Assembly.
According to the Bill, “before a license is granted to an operator, the Authority shall be satisfied that the applicant is a registered company in Nigeria with a minimum share capital of N20,000,000 (Twenty Million Naira) or as may be directed by the Authority.”
It also specified that the local content shareholder shall abide by the regulations, policies, terms and conditions issued by the Authority. (Vanguard)