Tax revenues collected from gaming companies in Tanzania are expected to grow by 18 percent in the financial year 2017/18, mirroring a continued growth in the African gaming sector.
The Gaming Board of Tanzania (GBT), the regulator for sports gaming, has projected the Tanzania Revenue Authority (TRA) could receive up to Sh39bn (US$17.6m) up from Sh33.6bn (US$15.3m) collected in the previous financial year.
The acting director general of the GBT, James Mbalwe, said the number of gaming companies had increased from five to 26 over the past three years, and now includes casinos, sports betting, SMS Lottery, slots operations and 40 machines sites.
Mbalwe seemed positive about the increasing trend: “We are optimistic of increased revenues as currently there are four foreign and local companies that have shown interest in Tanzania. All the processes have already been completed with only a few issues remaining to be ironed out. We’re optimistic that in the next year they will begin their operations.”
Mbalwe added that casino gaming was “doing well in the market” alongside the growth of sports betting, showing that both industries can flourish in the growing Tanzanian gambling market.
Many in the sector believe that the record boom in tax collections from gaming activities is thanks to increased players and tighter controls.
When asked about the secret behind the impressive tax collections, the industry regulator, GBT, said: “The board has been connected to electronic information system that enables us to monitor all betting transactions.”