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Sunday, September 26, 2021 -Giant betting company Sportpesa used to make a staggering sh 149.7 billion every year from their average daily bets of sh 408 million by 2018 before government suspended its operations in the country.
Through court papers leaked to the media, the blue chip company revealed that in 2018 alone they paid out sh 129.6 billion in winning by bettors. It was then left with a gross profit of sh 20.1 billion and a net profit of sh 10 billion. These figures, according to business analyst, put the betting firm second after Safaricom Telco.
Safaricom has been dominant in the communication industry with their products fetching the company billions of money in profits; a level where only Sportpesa was also headed before the tax man started baying for their blood.
From the court papers seen by the media, taxman Kenya Revenue Authority KRA wants the company to settle billions in taxes which they had allegedly evaded for sometime.
Sportpesa Company became an international brand after it announced a sponsorship deal with Everton FC, the biggest deal in the club’s sponsorship history.
