Empowering African Businesses

Atlas bets on nigerian gambling company

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Nairobi Securities Exchange listed company, Atlas African Industries has announced that it has invested USD 300,000 for a 10 per cent equity stake on a Nigerian based company BanazaWin.

The Nigerian based gaming company offers a range of online and real-play gaming experiences including sports betting, casino slot games, and lotto.

BonanzaWin has established a portfolio of gaming businesses currently focused on the Nigerian market; the company has a secure online gaming platform, which powers a wide range of games including sports betting, live casino and slot games, has three gaming shops where customers can play and place bets, and is a regulated provider of the Nigerian lottery, for which BonanzaWin sells tickets through a number of local sales agents.

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BonanzaWin is licenced and regulated by the Lagos State Lottery Board and Atlas believes the company represents a compelling investment opportunity to access Nigeria’s growing gaming and entertainment sectors. For the 12-month period ended 31 December 2015 EPL and Searimner reported a loss of US$300,815.

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