The King bets big on online casino gaming
King Mohammed VI of Morocco has announced a major investment in the country's nascent online casino gaming industry. The king is reported to have set aside nearly $800 million to develop a portfolio of online casino and gaming properties.
The investment is part of a larger strategy to bolster the tourism sector in Morocco. Gaming and entertainment companies around the world see huge potential in the North African country, with its large population and growing economy.
Casino gaming is already popular in Morocco, but most players currently engage in unregulated offshore gambling sites. The new investment will help create a safe and legal environment for online casino gaming, with rigorous regulation and taxation.
It's not yet clear which companies will be awarded contracts for the development of the new online casinos, but bidders are expected to include some of the biggest names in the business. Operators who win licenses will be expected to adhere to high standards of security and responsible gaming.
As one of Africa's leading economies, Morocco is well-positioned to capitalize on the growth in online casino gaming. With an increasing number of people able to access the internet, there is great potential for this burgeoning industry.
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