Giant betting firm BetKing has closed its operations in Kenya after close to four years of business, leaving close to 200 of its local staff jobless.
The firm has also closed its operations in Ghana and Ethiopia, leaving it in operation in Nigeria alone after it was acquired by pay television Multichoice Africa.
According to senior staff at the company who sought anonymity, the new owners of the company decided to concentrate on a single market because of several business challenges that included high taxation in the country and cutthroat competition.
“BetKing was bought by Multichoice Africa and they felt that they should close all their emerging markets which were Kenya, Ghana and Ethiopia and concentrate on Nigeria where they are the leading or rather the biggest betting firm. Plans are also underway to open a new market in South Africa which is regarded as the home of Multichoice Africa,” the source said.
BetKing announced its arrival into the Kenyan market with a bang, sponsoring the Football Kenya Federation (FKF) Premier League to the tune of Sh1.2 billion in 2020.
