Sportpesa Latest News - BCLB Withdraw Sportpesa licence trading Milestone Games Limited

Sportpesa and Pevans E.A CEO Ronald Kararuri
Sportpesa and Pevans E.A CEO Ronald Kararuri. FILE

 

Sportpesa now has a long way to get back to business after Betting Control and Licensing Board(BCLB) withdrew the Milestone Games Ltd license.


BCLB, after thorough investigations found out Milestone Games Limited changed the list of directors after being given a licence for the year 2020-21.
 
 
The list of directors submitted during the application was substituted upon receiving a license.
 
 

The company replaced the owners, directors, and shareholders after getting the licence.


BCLB added that the company breached the operating requirements and Section 5 of the Act by tricking and evading due diligence and investigations that ought to have been carried by Selenium Limited, Francis Waweru Kiarie, and Ronald Kamwiko Karauri.


Milestone Games Limited had earlier submitted the names of Nob Five Limited (9,950 shares), and Wilson Ngatia Karungura (50 shares) during the application for a license.


During the application, Nob Five Limited were: John Munene Nderitu (250 shares), Jackline Nyambura Kungu (500 shares), and Joseph Muendo Mutua (250 shares).

BCLB upon further investigations found out that the shareholders were changed in Nob Five Limited, introducing Selenium Limited (9,600 shares) and changing Jackline Nyamburura Kungu’s shares to 400.


Also, Francis Waweru and Ronald Kamwaro Karauri who are also Pevans East Africa limited directors were listed under Selenium Limited.


BCLB directed the company on November 24 to show cause why its licence ought not to be verified, and the determination was reached on December 3 to cancel its operational licence.
 

The board held a meeting with Milestone representative on December 3 to weigh on the changes of the shareholders, where the company revealed that there were changes.


The betting board was not happy with the reasons given as to why the changes were made after the issuance of the licence hence withdrew its licence.


“Accordingly, and for the reasons stated herein above it is the decision of the Board that your company’s Bookmakers’ off-the-course licence number 0000205 dated October 6, 2020, be and hereby cancelled,” BCLB said in a statement.

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