BETTING KENYA SportPesa technology firm turns a profit on revenue jump 2 months ago Samuel Post Views: 117 SPS Sportsoft Limited, the company offering technology support services to SportPesa betting firms, last year reversed its 2020 losses to book a profit of £170,433 (Sh24.6 million) indicating acquisition of new business. The firm had made a loss of £4.1 million (Sh595 million) in 2020 after its single largest client — Kenya-based Pevans East Africa — ceased operations in 2019 after the government declined to renew its operating licence, citing unpaid taxes in excess of Sh15 billion. Pevans achieved large-scale profitability in record time after launching operations in 2014, attracting increased government scrutiny amid concerns of increased gambling addiction. SPS said in regulatory filings in the UK that its revenue rose fourfold last year to £6.1 million (Sh887 million) from £1.48 million (Sh214 million) in 2020, largely drawn from services rendered to clients. Pevans used to account for 96 percent of SPS’s total revenue in the past. SPS, its parent firm Sportpesa Global Holdings Limited (SPGHL) and Pevans, which used to trade under the SportPesa brand, have common shareholders including Kenyan and Bulgarian businessmen. Other SPS clients include SPGHL’s subsidiaries trading under the SportPesa brand in Tanzania and South Africa. Source: businessdailyafrica.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: Kenya, SportPesa, sports betting Continue Reading Previous Kenyan operators escape tax hike as Finance Bill becomes lawNext BetKing Customers To Win All-Expense Paid Trip To UK More Stories BETTING KENYA Gambling operators ignore orders to close during the election 1 day ago Iwo Bulski BETTING GHANA Ghana: Gaming Commission Must Regulate Industry 2 days ago Szarlot BETTING KENYA Kenyans spend over KSh 300b on bets, cigarettes and liquor yearly 2 days ago Szarlot BETTING NIGERIA All About Cricket Betting 3 days ago Iwo Bulski EXPERTS KENYA Poor tax policy erodes Kenya’s investor attractiveness – survey 3 days ago Szarlot BETTING KENYA Kenyan government orders all operators to close for election day 3 days ago Iwo Bulski BETTING KENYA The government should work with the betting industry 2 weeks ago Iwo Bulski KENYA ONLINE The influencers paid to push hashtags 2 weeks ago Iwo Bulski BETTING KENYA Eighteen new firms enter booming betting arena 2 weeks ago Iwo Bulski EXPERTS KENYA Kenya launches AML probe focusing on betting operations 2 weeks ago Iwo Bulski EXPERTS KENYA Digital scams have hit Kenya’s gambling and travel industry 2 weeks ago Samuel BETTING KENYA Tanzania joins Kenya, Uganda tax squeeze on gamblers’ winnings 2 weeks ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.