Betway fined a massive 15 million shillings for failing to inform CAK of ownership transfer

The CAK (The Communications Authority of Kenya) has fined online betting sports company Betway for changing ownership to the hands of another betting and gaming firm prior to seeking approval of the authority.

Upon conducting an investigation, the regulator discovered that Betway, which also goes by the name Bluejay, had violated Section 42(2) of the Competition Act that does not approve a company from undertaking a merger and switching ownership without getting approval from the authority.

Betway changed ownership to GM Gaming, a Maltese-based company after selling its majority shares in 2015 to the company.

GM Gaming then sold the shares to Rosehall Global.

In both transactions, the regulator was not informed of the merger and changes of Betway ownership.

In turn, the violator has penalized the company a sum total of Kshs 15 million as per the penalty stipulated in Section 42(2) of the Competition Act.

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