OBTAINING LAGOS STATE CASINO LICENSE

OBTAINING LAGOS STATE CASINO LICENSE

To conduct casino activities in Lagos State, prospective operators must obtain approval from the Lagos State Lotteries Board (LSLB). Lagos State also issues other casino licenses aside from online casino, which include the hotel-casino license and stand-alone casino license.

FINANCIAL REQUIREMENTS FOR LAGOS STATE ONLINE CASINO LICENSE

The official fees for an online casino license in Lagos, are:

  • Application Fee: NGN1, 000,000 (One Million Naira)
  • License Fee: NGN20, 000,000 (Twenty Million Naira)

The license must be renewed annually. The official fee to renew the license annually is NGN10, 000,000 (Ten Million Naira).

The applicable monthly gaming tax is 10% of the Gaming Gross Revenue (GGR).

The above stated fees do not include engaged professional service provider fees.

NOTE:

For Lagos State and Oyo State license, the company seeking to obtain license, must first be incorporated with the CAC and must have a minimum share capital of NGN20, 000,000.

Where any foreigner is involved in the company seeking the license, either as a shareholder or as a director, the minimum authorized share capital for the company will be NGN100 Million in compliance with the regulations from the Federal Ministry of Interiors and CAC.

Source: lslga.org

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