The second largest sports betting firm, Betin, has declared all its staff redundant in a move that could lead closure of its operations.
In a memo on Friday, Gamcode Limited Managing Director told the staff that the firm had been left with no option but to let them go.
“This has been occasioned by the fact that we have not been operational since July 2019 a fact we are all aware of. Management has had several extensive meeting with relevant government entities regarding the company’s license renewal without much success,” the memo dated September 27 stated.
All positions will be rendered redundant on October 31 and the notice was in line with section 40 of the Employment Act, 2007.
“Management had had to rethink its operational model and to proceed with the exercise of termination on account of redundancy,” the memo stated.
It is not clear how many staff members are affected by the move by Betin but it is expected to affect about 2,500 including those at Betin Shops scattered in various locations.
“Please be informed that this should not be construed as a reason to stop the normal operations as all staff should continue with normal shifts and timings as scheduled,” the memo stated.
The largest gambling firm today announced closure of its Kenyan operations, citing hostile operating environment.