Betting Giant Sportpesa has now released an official report that it will be in the Kenyan market once again as the new year begins.
It is yet to be established if the company has reached a consensus with the Kenyan government now that gamblers across the nation are already celebrating the news.
In Nairobi, a spirited mood could be clearly felt amongst the residents who thronged city clubs after the earth-shaking news.
Crowds of the company’s supporters in the in Nairobi gathered around Archives cheering in anticipation of things going back to normal.
The company reportedly revoked termination letters given to employees at the beginning of October.
Kenya has been SportPesa’s biggest market as the company fed on Kenyans’ addiction to gambling and lust for money. Ever since debuting in 2014, SportPesa was always the face of the Sports betting industry in Kenya. Its competitor, Betin, came to shake up the industry later on but SportPesa maintained its giant status in the country.
After establishing itself in Kenya, SportPesa widened its scope by opening shops in Tanzania, South Africa, and the United Kingdom. The company continued running shops in these countries but the largest percentage of its profits came from the Kenyan market.
Having to quit the Kenyan market was a major blow for SportPesa as it meant less profit. SportPesa might be the biggest player in Tanzania but the Industry is not well established in the country. In South Africa and the UK, there are too many players in the market that SportPesa is almost insignificant.
In the span of 5 years, SportPesa grew rapidly to become a multi-billion shilling company without Kenya it could have taken much longer than that. The new tax laws meant that the company would not make as much as it originally was but it would still make more than it does in the other countries.