Sanwo-Olu<\/a>, on April 19, assented to the Lagos State Lotteries and Gaming Authority Bill, a law that harmonises the five gaming and lottery regulations which are the casino, jackpot, pool, lotto and sports betting regulations.<\/p>\nThe governor said the new law will aid adequate regulation of the gaming sector and checking of fraudulent activities of unregistered game centres within the state.<\/p>\n
\u201cWith the new law and a new brand identity, the Lagos State Lotteries and Gaming Authority is now poised to conduct business in line with modern technological practices while adopting a more innovative, harmonious, and transparent approach in the regulation of the lotteries and gaming industry.<\/p>\n
\u201cThe new law will help to institutionalize major reforms in the Lagos Gaming Sector and expand the scope of our lotteries and gaming authority\u2019s operations in accordance with gaming dynamics across the globe,\u201d he said.<\/p>\n
The governor added that the gaming regulatory agency has been rechristened from the Lagos State Lotteries Board to the Lagos State Lotteries and Gaming Authority.<\/p>\n
He said the rebranding is to align the agency with the vision and core values of his Administration\u2019s T.H.E.M.E.S\u2019 agenda.<\/p>\n
\u201cThe Authority has been rebranded to set and enforce gaming standards in a responsible and fair manner. The goal is to gain and sustain the trust and confidence of all operators and stakeholders in the lottery and gaming business.<\/p>\n
\u201cI assure you that with this newly rebranded agency, all the functional elements of the lotteries and gaming industry will be unlocked to create a new model of gaming in Lagos State,\u201d he said.<\/p>\n
The governor urged the Lottery and Gaming Authority to forge a transparent alliance with licensed gaming operators in the state, to create a vibrant gaming industry which contributes to a prosperous and sustainable economy.<\/p>\n
\u201cOur Administration is not oblivious to the intergovernmental squabbles over the constitutional responsibilities of the federal and state governments on the control and regulation of the gaming space.<\/p>\n
\u201cIndeed, the Constitution is clear on the concurrent powers of the federal and the state governments over matters related to lotteries and gaming. I assure you that appropriate measures have been put in place to amicably resolve these seemingly thorny issues,\u201d Mr Sanwo-Olu said.<\/p>\n
During his keynote address, Bashir Are, the CEO of the Lagos State Lotteries and Gaming Authority, said with the rebranding, the agency is poised to leverage on the potentialities of the gaming industry\u2019s value chain which is vital for generation of revenue.<\/p>\n
\u201cLagos State cannot afford to lose out on the exceptional opportunities which this industry is here to offer. One of such is E-Sport, a fast-growing segment of the gaming industry that is estimated to be a $15 billion market globally by the year 2025. The Center of Excellence and the 6th largest economy in Africa must plug-in swiftly,\u201d he said.<\/p>\n
Mr Are said since he took over the agency in 2019, the Lotteries and Gaming Authority obtained two International Standards Organization (ISO) certifications in January 2021, Information Security Management System (ISO 27001) and Quality Management System (iso 9001) respectively.<\/p>\n
\u201cIt is our desire that the next gaming platform such as PlayStation and Candy Crush be exported to the world from Lagos State. Candy Crush generated $119 billion in 2020, making it the third highest grossing mobile game outside of China. It is possible in Lagos,\u201d he said.<\/p>\n
Mr Are said the agency has deployed an automated system to monitor gaming transactions in the state, with focus on responsible gaming.<\/p>\n
He added that the revenues generated by the agency from licensing, fines and levies are being disbursed for infrastructure development, grants and sponsorships and good cause.<\/p>\n
Also giving her remarks at the unveiling ceremony, Olufunmilola Olotu, the Senior Special Assistant to the governor on state lotteries, said the rebranding will enable the Lotteries and Gaming Authority to continue to sanitise the market from illegal and unlicenced gaming companies.<\/p>\n
She said the gaming law empowers the agency to create periodic awareness and carry out enforcement against defaulters in the state.<\/p>\n
\u201cThe successful harmonisation of all laws of gaming in Lagos State is necessary, not only to correct the disparity in the regulation of gaming activities in the state, but also to establish uniform gaming law directives that can be implemented by all present and perspective stakeholders in the gaming sector,\u201d she said.<\/p>\n
The senior special adviser added that the agency has improved its visibility on international podium through participation in global gaming conferences.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Lagos State government on Friday unveiled a new identity for its Lotteries Board, an agency saddled with the responsibility of regulating lottery and gaming activities in the state. The state governor, Babajide Sanwo-Olu, during the unveiling of the new identity, said the rebranding of the agency is to enable it meet up with the […]<\/p>\n","protected":false},"author":13,"featured_media":12731,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[21070,431,10443,430],"class_list":["post-99969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-gaming-regulatory-brand","tag-lagos","tag-lottery","tag-sanwo-olu"],"yoast_head":"\n
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