Africa could be about to gain a new player within its competitive iGaming landscape.
The Republic of Equatorial Guinea has taken the next major step in establishing a regulated gaming market by awarding Mascott Capital Partners an online gaming, online betting and online casino master licence.
It’s a significant step that means that international operators looking to establish a presence in Equatorial Guinea must submit licence applications through the iGaming and licence management company’s digital platform.
Antonio-Pedro Oliveira Burupu, Heads of the Ministry for Tourism and Tourism Infrastructure in Equatorial Guinea, commented: “The launch of online gaming, online betting, and online casinos in Equatorial Guinea is one of the most significant measures taken by gaming regulators in the country’s history and Mascott Capital Partners’ digital platform will assist in submitting online gaming license applications.”
A new beginning
The decision to grant Mascott Partners a master licence forms part of Equatorial Guinea launching the first legal framework for online gaming in the country.
All international operators must apply for an online gaming licence under Equatorial Guinean law, and meet compliance requirements and financial obligations to “promote a transparent and responsive gaming environment”.
In addition, international online casinos will be required to submit regular audits to ensure compliance with anti-money launder laws. This includes requesting user information and reporting suspected fraudulent transactions.
“This initiative represents a significant step forward in promoting Equatorial Guinea as a recognised jurisdiction for remote online gaming, online gambling, and online casino businesses,” added Oliveira Burupu.
“It is also a significant step in diversifying Equatorial Guinea’s economy, attracting international investment to the digital space, and strengthening consumer confidence in the remote online gaming services provided under Equatorial Guinea’s jurisdiction, making Equatorial Guinea an international destination of choice for igaming”.
The country’s government has positioned itself as an alternative option for online licensing for multinational operators, alongside jurisdictions such as Curaçao and Anjoan.
A land of opportunity
Africa is a continent that is continuing to receive significant attention from international operators as increased mobile penetration has unveiled the potential of a myriad of markets across the continent.
Speaking to iGaming Expert earlier this month, Christopher Coyne, Co-Founder and CEO of 888 Africa explained: “Increasing mobility across populations – meaning more people with access to phones with web services on them – and improving relative wealth across countries has helped power the growth that has come over recent years.”
However, Coyne also cautioned that markets in the region must not be treated as “homogenous”.
For example, once established, Equatorial Guinea will represent just one of over 30 potential iGaming jurisdictions across Africa, each of which have different cultures, languages and player preferences.
“There is no winning one-size-fits-all model here, the best way to compete is to have a very solid and quality core proposition, including technology that is then hyper-localised market by market,” Coyne concluded.
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