It was a very small and brief ceremony which, however, meant so much to the Anambra State government. In these days of leans resources, any project that promises to generate as much as N375 million monthly gets the attention of any forward looking governor. It was not a surprise then that Governor Willie Obiano personally received the team from Global Gaming Company Limited, led by its chairman, Yahaya Maikori at the Governor’s Lodge in Awka.
Officials of Anambra State Investment Promotion and Protection Agency (ANSIPPA), the arm of the state government which facilitated the signing of an MOU for the establishment of a state lottery and structured gaming operations in the state were also present. Also present were the secretary to the State Government and the commissioner for Justice and Attorney-general and his counterpart in the Information, Culture and Tourism Ministry.
The traditional ruler of Umuoji and Chairman of ANSIPPA, Igwe Cyril Enweze said he was happy with the arrangement which will introduce scratch card and other types of gaming into the state. Beaming with smiles, he told Obiano that the partnership with Global Gaming will satisfy the internal revenue objectives of the state. The deal is for an initial period of 10 years which is renewable for five years.
Explaining why his company taking a huge share, Maikori said the scheme will be entirely funded by Global Gaming through its technical partners, Grupo Pefaco, which is committing full funding for the initial take off with USD11 million. He expressed confidence that his company will make enough from ticket sales and other sources to keep to the terms of paying N375 million to the state government after the first seven months.
Describing gaming as a veritable tool for economic development, Maikori said while taxation is a compulsory revenue for government, through gaming, the people are made to pay voluntary tax, while expecting dividends. According to him Grupo Pefaco is listed in the Spanish Stock Exchange and already has its presence in seven African countries. While emphasizing on the company’s CSR goals, he assured existing gaming companies that they do not to worry about being taken out of the market.