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A delegation from the Benue State Sports Marketing and Lottery Board (BSSMLB), led by Executive Secretary Hon. Michael Uper, visited the corporate headquarters of BetKing Tuesday in Lagos, calling for a review of the company’s license with the state government.
Hon. Uper stated that the yearly license fee paid by BetKing to the state government has been inadequate, considering the current economic reality and the company’s massive revenue. He emphasized the need for an upward review of the license fee, as well as the Good Cost of Money (GCM).
“We believe that BetKing has been doing well in Benue State, and we want to ensure that they continue to thrive,” however, we also need to ensure that the state government gets a fair share of the revenue generated by the company, “ Hon. Uper said.
He assured the company that the state government, under the leadership of Governor Hyacinth Alia, is committed to providing an enabling environment for businesses to thrive. “Governor Alia’s administration is focused on promoting economic growth and development in the state, and we believe that partnerships with companies like BetKing are crucial to achieving this goal,” he said.
Hon. Uper who also assured Betking that the board would continue to provide necessary support to the them, including assigning shop locations to their agents in business-friendly areas of the state, commended the company for investing in Benue State and promised them of adequate security and protection for their agents.
Commenting, Mr. Gadafi Asemanya, the BSSMLB’s Head of Enforcement and Compliance, and Mr. Justin Iorshaegher, Head of Planning and Research also emphasized the need for BetKing to fulfill its corporate social responsibility in the state, stressing that the company’s investment in the Benue should benefit the local communities.
In response, Barr. Titilayo Ogunleye, Senior Legal and Compliance Officer of BetKing, assured the BSSMLB delegation that the company would look into the review of the license agreement and Good Cost Money (GCM) with few days, and fulfill its corporate social responsibility in the state.
Barr. Ogunleye appealed to the BSSMLB to prevail upon their representatives in the National Assembly to reject the proposed sports, gaming, and lottery bill, arguing that it was not in the interest of investors in the industry
“We appreciate the enabling environment provided by the Benue State government, and we are committed to contributing to the state’s economy,” Barr. Ogunleye said.
The meeting which had some top management team of Betking and the BSSMLB delegation in attendance is expected to yield positive outcomes for both parties, including increased revenue for the Benue state government and improved services for BetKing’s agents in the State.
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