In the fiscal year 2022/23, gaming activities in Uganda generated a revenue of more than Shs 151bn, which was collected by the newly established National Lotteries and Gaming Regulatory Board (NLGRB). 2022 2023 Uganda Gaming Revenue
Denis Mudende Ngabirano, NLGRB CEO, who met Members of Parliament on Monday said; “The annual revenue collection by the National Lotteries and Gaming Regulatory Board has grown from Shs 17.4bn in FY 2015/16 to Shs 151bn in FY 2022/23.
“In the First half of FY 2022/23, total revenue collected was Shs 81bn,” said Mudende, adding, “our projected revenue by end of FY 2023/24 is Shs 160bn.” he added.
From 2021 onwards, Mudende assumed the role of Acting NLGRB Executive Director, succeeding Edgar Agaba, who had been accused of misappropriating public funds.
Since Mudende discovered that NLGRB was collecting less than Shs 45bn per year in 2021, the current revenue collections of NLGRB have experienced a 200% increase.
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Mudende informed the lawmakers that NLGRB is aiming to generate a revenue of Shs 300bn from gaming activities by the fiscal year 2024/25.
Last year, Finance Hon Minister Matia Kasaija granted the National Lottery operating license to Ithuba Uganda, a company that has pledged to invest $15m.
The launch of the national lottery is scheduled for May 4, 2024.
“The national lottery will provide an estimated Shs 147bn for the next ten years effective FY 2024/2025 out of which 60% of the proceeds is gaming tax and 40% is non-tax revenue for good causes,” Mudende said.
In addition, he mentioned that the national lottery is anticipated to generate approximately 1,700 employment opportunities. Furthermore, plans are in place to establish a main data center in Kampala and regional offices in Gulu, Mbale, Area, Mbarara, and FortPortal.
Mudende emphasized that the utilization of funds from the national lottery should primarily focus on developing sports facilities. 2022 2023 Uganda Gaming Revenue
In the meantime, the Board has completed the development of the online sports betting and casino monitoring module for the National Electronic Central Monitoring system.
This is anticipated to empower the Board in overseeing significant occurrences linked to the betting and gaming operations of the operators.
“Specifically, it will enhance revenue collection and help in protecting the citizens against adverse effects of gaming. All online operators are required to interact with the system before the end of June 2024.” Mudende further added.
In the past, many Ugandans have been deceived by fraudulent online gaming platforms, resulting in hundreds of individuals losing millions of shillings.
According to Mudende’s statement to MPs, the Board has hitherto barred entry to 17 illicit gaming sites and seized a total of 2,869 illegal gaming equipment.
Source: ChimpReports
Writer: Jackie Namatovu
