Key Highlights
- The National Lottery of Benin (LNB) experienced a 36% profit decline in 2025, attributing losses to unauthorized slot machines and illicit betting platforms.
- Total revenue decreased by 4% to 98.6 billion West African CFA francs (approximately €150.4 million), with tax obligations more than doubling.
- Digital gaming channels delivered strong performance, representing 68% of overall revenue with an 18% annual increase.
- LNB plans to roll out an integrated digital ecosystem that merges sports wagering, casino offerings, and mobile payment solutions.
- Management anticipates improved performance in 2026 while acknowledging persistent challenges from unauthorized gambling operators throughout West Africa.
Benin’s National Lottery concluded 2025 with profits down 36% from the previous year. Leadership pointed to the proliferation of unauthorized slot terminals and illicit wagering platforms as primary factors behind the downturn.
The company also noted that 2024 results had benefited from a one-time financial gain that didn’t recur in 2025. This absence amplified the year-over-year contrast.
Total revenue declined 4% to reach 98.6 billion West African CFA francs, equivalent to approximately €150.4 million. The drop occurred as unauthorized operators increasingly diverted players from the government-sanctioned lottery.
Increased taxation created additional headwinds. Tax expenses expanded by more than 100% throughout the period, compounding financial strain.
Digital Channels Deliver Robust Growth for National Lottery
Despite headline struggles, LNB highlighted encouraging underlying metrics. Value creation jumped 22%, while gross operating surplus expanded 34%.
Online gaming emerged as the clear winner. Digital platforms generated 68% of total revenue and posted 18% growth versus the prior year.
According to LNB, digital engagement has become the primary method customers use to participate. Mobile device penetration and mobile payment adoption continue accelerating throughout Benin and neighboring territories.
The migration toward digital participation has been a sustained pattern for LNB in recent years. It now represents the core foundation of the organization’s operations.
LNB has operated under exclusive monopoly rights since 2004. The company maintains approximately 3,000 retail locations nationwide.
Its signature Loto 5/90 product continues generating the largest share of income. However, executives view digital expansion as essential for remaining competitive in an evolving marketplace.
Integrated Digital Ecosystem in Development to Counter Illegal Operators
To combat the competitive pressure, LNB is developing a comprehensive digital platform. This system will consolidate sports wagering, casino products, and virtual offerings into a single environment.
The platform will feature direct connectivity with mobile payment networks. This integration should streamline deposit and withdrawal processes for users.
Unauthorized gambling operations have experienced rapid expansion across West Africa. Insufficient regulatory oversight combined with growing internet connectivity has enabled their proliferation.
These informal providers frequently evade taxation and disregard responsible payout standards. This enables them to present more favorable odds than regulated entities like LNB.
LNB views the forthcoming platform as critical for defending its market position against these rivals. Leadership believes an enhanced digital offering will support customer retention and acquisition efforts.
Notwithstanding current obstacles, LNB maintains solid financial footing. The organization reported an autonomy ratio of 2.06, indicating robust equity relative to total liabilities.
Executives stated they anticipate improved outcomes in 2026. Nevertheless, they recognized that pressure from unlicensed gambling operations will remain an ongoing concern.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
