The Angolan government has earned 12 billion Kwanzas from the gambling industry, accounting for over 14% of the national treasury's revenue in the fiscal year 2023.
The position of the gambling industry in Angola's national economy is gradually rising, and it might even surpass the economic share of certain sectors within a record time.
Paulo Jorge Linger, the director of the Gambling Regulatory Institute, stated that the gradual increase in revenue from the gambling sector is related to the consolidation of reforms that began three years ago. He anticipates that by the end of the fiscal year 2024, the revenue from the gambling industry to the treasury will increase, by which time Angola's first casino will be fully operational.
Tax law expert Silvestre Francisco believes that given the recent support for the gambling industry, it could soon become a major contributor to Angola's GDP. He noted that unlike in the past, today, insisting on gaming is an act of resilience, as in the future era, we might even hear that it is one of the industries with the most significant increase.
However, the revenue observed today is entirely due to the increase in the required forms of activity, and not due to tax changes within the sector, without any alternatives and without harming the natural practitioners.
The development of the gambling industry, such as the brief restart of lottery games like Totoloto, Totobola, and Lucky Scratch Cards, marks a short-term optimistic outlook for Angola's gambling industry. With the commencement of Angola's first casino, the gambling industry is expected to make a greater contribution to the national economy.
