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Gamma Civic teams up with French LudWin to offer tech-based gaming

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Gamma Civic teams up with French LudWin to offer tech-based gaming

Gamma Civic Ltd, the main investor in Lottotech, has entered into a strategic partnership with a French based company, LudWin Group SAS (LudWin), with the option of acquiring a majority stake.

LudWin, which operates in various African countries, offers technology- based gaming solutions, it said in a communique issued on the Stock Exchange of Mauritius.

LudWin positions itself as a service provider for operators, investors and license holders to enter into the African markets.

With this new partnership, Gamma Civic Ltd said it will be able to pursue its strategy for diversification of investments and expand its geographical footprint.

Gamma CivicGroup has reported a profit aftertax of Rs360million forthe year ended 31 December 2021 (Dec 2020: Rs228million).

Its company reported a profit after tax of Rs306million (Dec 2020: Rs173million). It warned that global trading conditions and supply chain complications resulting in significant price increases of raw materials could pose a threat to its businesses in the near future.

The increase in revenue and operating profit of this segment for the year ended 31 December 2021 was mainly attributable to a full year of Loterie Vert sales and a lower number of missed Loto draws compared to the year 2020 due to a shorter confinement period.

On 12 July 2018, the company made a formal application to the Gambling Regulatory Authority (GRA) for authorisation to implement its cashless solution for its products. The Segment is awaiting a positive response.

On 3 September 2021, the Segment made a formal application under Section 2 of the Finance Act 2021 to conduct business using remote communication as defined in the GRA Act. The Segment is awaiting a positive response from the GRA.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.