Benin’s National Lottery Sees Profit Drop in 2025

BREAKING NEWSOctober 5, 2025 at 10:11 PM UTC

TLDR

The National Lottery of Benin (LNB) reported a sharp decline in earnings in the first half of 2025
LNB (BRVM: LNBB) posted a net profit of 841 million CFA francs, down 88% from its 2024 annual result
To reverse the decline, LNB plans to launch an online sports betting and virtual gaming platform in September 2025

The National Lottery of Benin (LNB) reported a sharp decline in earnings in the first half of 2025, following a strong 2024 capped by its successful IPO on the BRVM stock exchange.

LNB (BRVM: LNBB) posted a net profit of 841 million CFA francs, down 88% from its 2024 annual result, as revenue fell 6% due to rising competition from private and illegal gaming operators. In 2024, the state-owned company recorded revenue of 102.5 billion CFA francs and distributed dividends of 275.5 CFA francs per share.

To reverse the decline, LNB plans to launch an online sports betting and virtual gaming platform in September 2025. The company said the shift will help recover market share and achieve its financial targets by year-end.

Since listing on the BRVM in December 2024, LNB shares have fallen about 8% amid cautious investor sentiment.

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Points clés à retenir

LNB’s 2025 downturn underscores both the promise and challenges facing state-run enterprises entering the digital gaming sector. Despite a strong debut on the BRVM, the operator faces mounting competition from private and unregulated platforms capturing online demand. The move toward digital betting reflects an effort to modernize operations and secure new revenue streams in an evolving market. With over half of its 2024 revenue already generated online, LNB’s success will hinge on scaling its technology platform and maintaining public trust in a space increasingly shaped by private fintechs and foreign operators. The company’s upcoming digital betting rollout will be a key test of its ability to transition from traditional lotteries to high-growth online gaming while defending its market position and meeting investor expectations.

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