TLDR
- Benin’s National Lottery (LNB) reported a 36% drop in profit for 2025, blaming unlicensed slot machines and illegal betting sites.
- Revenue fell 4% to 98.6 billion West African CFA francs (€150.4 million), while tax charges more than doubled.
- Online gaming was a bright spot, making up 68% of total revenue and growing 18% year-over-year.
- LNB is preparing to launch a unified digital platform combining sports betting, casino games, and mobile money services.
- The operator expects stronger results in 2026 despite ongoing pressure from unlicensed competitors across West Africa.
The National Lottery of Benin closed out 2025 with a 36% drop in profit compared to the year before. Management blamed the rapid spread of unlicensed slot machines and illegal betting websites for the decline.
The absence of a one-time gain that had lifted results in 2024 also played a role. Without that boost, the year-over-year comparison looked even worse.
Revenue fell 4% to 98.6 billion West African CFA francs, which comes out to roughly €150.4 million. The decline came as illegal operators continued to pull customers away from the state-run lottery.
A heavier tax bill made things harder. Tax charges more than doubled during the year, adding further pressure to the bottom line.
Online Gaming Emerges as LNB’s Strongest Channel
Despite the overall decline, the operator pointed to some positive signs underneath the headline numbers. Value added rose 22%, and gross operating surplus climbed 34%.
Online gaming was the standout performer. Digital channels accounted for 68% of total revenue and grew 18% compared to the previous year.
LNB said digital is now central to how its customers play. Smartphone use and mobile money adoption are expanding quickly across Benin and surrounding markets.
The shift toward online play has been a consistent trend for LNB over recent years. It now forms the backbone of the company’s business.
The operator has run under a monopoly framework since 2004. It currently operates around 3,000 sales points across the country.
Its flagship Loto 5/90 game remains the top revenue driver. But management sees digital growth as the key to keeping up with a changing market.
LNB Plans Unified Digital Platform to Fight Unlicensed Competition
To address the competitive threat, LNB is preparing to launch a single digital platform. The system will bring together sports betting, casino games, and virtual products under one roof.
The platform will also link directly with mobile money services. That integration could make it easier for customers to deposit and withdraw funds.
Unlicensed operators have been able to grow quickly across West Africa. Weak regulation and expanding internet access have helped them gain ground.
These informal operators often skip taxes and ignore payout rules. That allows them to offer more attractive odds than state-regulated companies like LNB.
LNB sees the new platform as a way to strengthen its position against these competitors. The company believes a better digital experience will help retain and attract customers.
Despite the challenges, LNB remains financially stable. The company reported an autonomy ratio of 2.06, which shows strong equity coverage of its liabilities.
Management said it expects stronger results in 2026. However, it acknowledged that competition from unlicensed gambling operations will continue to be a challenge going forward.
