Why Lagos Needs State-of-the-Art Gaming Facility
Reputed as one of the busiest cosmopolitan centres with the fastest growing economy in Africa, Vanessa Obioha urges Governor Babajide Sanwo-Olu to consider investing in an ultramodern space for gaming
Lagos has always touted itself as a premium tourist destination in Nigeria. It booms with culture and arts centres, pulsates with entertainment and is gradually becoming the preferred hub for gamers. Almost every corner boasts more than one betting centre or gaming activity. It is a sure sight to see Lagosians, old and young, throwing in their luck to the betting pool as the sun rises and waiting with bated breath as the sun sets for a reason to smile to the bank.
Given that Governor Babajide Sanwo-Olu is keen on making Lagos the centre of entertainment, as indicated in his campaign agenda tagged T.H.E.M.E.S., he may want to consider investing in the gaming industry as he bids for a second term.
The gaming industry in Nigeria today is worth billions of Naira. From e-sports betting to casinos and other forms of gaming, the industry is generating huge sums for the government. According to the National Commissioner/CEO of the Nigeria Data Protection Bureau (NDPB), Dr Vincent Olatunji, Nigeria generates over N730 billion from the gaming industry yearly. The forecast is that the global market will hit $674 billion in 025.
Olatunji further highlighted that over 60 million Nigerians, aged between 18 and 40, are involved in sports betting, with the operators paying taxes to the government and engaging young people who would have been jobless.
Lagos may tap into this gold mine and become an enviable leader by building a facility dedicated to gaming.
It has plans to build a centre inside the Teslim Balogun Stadium in Surulere, focusing mainly on e-sports betting. It can, however, expand that plan by building a state-of-the-art gaming facility just like it is building a film city to elevate Nollywood through a partnership with Del-York International, an organisation run by the renowned businessman Linus Idahosa.
To execute this, the government may need to find the right investors and call for a bid.
The New York State Gaming Commission recently launched the final process to license up to three casinos in and around New York City’s five boroughs.
US rap mogul Jay-Z earlier this month partnered with SL Green and Caesars Entertainment to build a state-of-the-art gaming facility at the Square. Caesars Entertainment is the owner of Caesar’s Palace, a luxury hotel and casino in Nevada, US. SL Green, the realtor, is offering a $3 billion proposal that would turn its 53-storey office tower into a hotel atop the casino.
“Times Square has been the heartbeat of American Entertainment for over a century,” said Tom Reeg, CEO of Caesars Entertainment. “Through our shared vision, we will build a world-class destination specifically designed to complement and elevate today’s Times Square experience, ensuring it remains a magnet for visitors and a hub of creativity for years to come.”
In Manhattan, Related Companies are proposing to build a casino near the Javits Centre along Manhattan’s West Side, while the scion of the late Sheldon Solow, Stefan Soloviev, is pitching to build a casino too.
Lagos may need to borrow a leaf from New York, a city with which it shares so many similarities. It has many enterprising locations to consider such as Yaba, now a tech hub, or somewhere in Lekki. As the governor looks forward to returning to the Number One seat next year, it may add a gaming facility to generate more revenues for the state and create employment opportunities for the teeming youths among the over 20 million people residing in the state.
