29 Oct YuuZoo Granted Full Gaming Licence For Lotto in Nigeria, Africa’s Largest Market
- License gives YuuZoo’s local subsidiary YuuZoo Gaming a full license to provide lotto services in Nigeria, where mobile lotto is growing rapidly
- Lotto, a game where people pick numbers to match those drawn, is the world’s most popular form of lottery. Already in 2012 lotto sales raked in more than $110 billion, followed by scratch tickets at $76 billion.
- Nigeria is Africa’s largest market with a population estimated to reach 184 million people this year
Singapore 29th October, 2015: Singapore-listed YuuZoo Corporation Limited (“YuuZoo” SGX: AFC.SI), a fast-growing global third generation social e-commerce company, is pleased to announce that it has been granted a full gaming licence by Nigerian authorities (Edo State Internal Revenue Service). The licence enables YuuZoo to offer Lotto gaming in Nigeria’s Edo State.
Lotto, the world’s most popular form of lottery, is in Nigeria growing rapidly on mobile, which is the device YuuZoo is focused on. YuuZoo sees online games and gaming, played on the mobile as well as on other devices, as a key revenue generator in social networking worldwide. Games and gaming provide major stickiness to social media. Linking to this YuuZoo has recently launched a new gamified e-commerce experience, where consumers can earn discounts and virtual currency from playing mobile games.
In Nigeria, through its joint venture with Africa’s largest TV network NTA and its partnership with Etisalat Nigeria, YuuZoo plans to introduce its popular Honey Snatch mobile game, the very successful mobile games it recently acquired from Camigo Media LLC in China, and the football games for the world’s top football clubs it through its partnership with Circle of Champions has the right to distribute. It also plans to market its new gamified social e-commerce platform to consumers in Nigeria.
According to PWC betting in Nigeria is set to grow at 10 per cent next year. Industry sources state that sports betting is booming in Nigeria. Nigerians can wager on sports in betting shops, over the phone, and on the Internet at Nigerian online sports betting sites. Football betting is most popular, but they also bet on the basketball, tennis, cricket and many other world sports and leagues around the world. YuuZoo is following up with the Edo State authorities to also get an online betting license which will be linked to the sports games it is introducing to the market.
Says YuuZoo CEO James Sundram: “We see games and gaming as key revenue generators for YuuZoo worldwide, and as a major driver of active users to YuuZoo’s Virtual Shopping Mall. Games and gaming provide major stickiness to social media. With the lotto gaming licence granted to us in Nigeria, we plan to leverage the popularity of gaming in Nigeria to acquire new active users and monetize them through Lotto, e-commerce, advertising and mobile games. YuuZoo has through its joint venture with NTA and its partnership with Etisalat built a very strong position in Nigeria, the largest market in Africa. We aim to use that position to grow our business not only in Nigeria but throughout Africa”, concludes James Sundram.
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access after the recent acquisition of gamers to over 110 million registered users in 164 countries, YuuZoo uniquely combines social networking, e-commerce and gaming in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com. For more information about YuuZoo, please log on to: www.yuucorp.com
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 Source: http://www.thisdaylive.com/articles/tapping-into-the-n40-billion-sports-betting-industry/210111/ Dated: 24 May 2015