On October 28, 2024, Law no. 17/2024 of October 28 - Law of the Gaming Activities - was published, repealing the previous law, Law no. 4/16 of May 17, and introducing significant changes.
Unlike the previous law, the new legal regime establishes that the operation of games of chance and online gambling can only be carried out by a limited liability company.
As for social games, such as the lottery, totobola and totoloto, like the previous law, they can be operated by any legal person governed by Angolan law.
The previous legal regime stipulated that concessionaires should have a minimum investment of no less than AKZ. 1,000,000,000.00 (one billion kwanzas), while the current legal regime stipulates that gaming operators must have their own funds, the amount of which will be fixed in their own regulations.
Gaming Operating Entities must (i) have a collegiate administration, (ii) have their share capital represented by registered securities, by presenting a copy of the registration book issued by the competent authority, (iii) demonstrate the economic and financial capacity and origin of the funds of the stakeholders, as well as meeting other requirements set out in the aforementioned Law.
Infringements related to Gaming Activity may result in a prison sentence of up to 2 (two) years or a fine of up to AKZ. 50,000,000.00 (fifty million kwanzas).
For more information, please consult the full statute or contact us for further clarification.
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