Nigeria is not just for illicit emails anymore.

The Federal Palace Hotel 6 – 8 Ahmadu Bello Way Victoria Island Lagos Nigeria

According to an annual report from PricewaterhouseCoopers (PwC), a multinational professional services firm, Nigeria will be one of the fastest-growing African countries for gambling the next five years.

The report, titled “Gambling Outlook 2013-17,” also looks at South Africa and Kenya. While LPMs, sports betting, bingo, and the national lottery are taken into consideration for South Africa, only casino gambling is measured for the other two countries.

PwC believes that Nigeria will show a 16 percent annual increase is gross gambling revenues over the next five years. Kenya follows with a predicted 12.5 percent compound increase, while South Africa, currently the largest of the three, will be the slowest with five percent. In 2012, land-based casino gambling revenues in South Africa totaled $1.7 billion.

Nigeria is set to launch Quick Lotto, a nationwide lottery, and CEO Ayo Arise, former chairman of the Senate Committee on Capital Market, believes it will generate employment and tax revenue.

“I have looked at many countries in the world, they do have that

. That lottery is used for communal progress,” he told the Nigerian Tribune. “Nigeria isn’t different. Twenty percent of the money that comes in goes to the Federal Government and they are supposed to use it for good causes, for the advancement and progress of this nation. They are supposed to use it in education.”

Arise, who studied in the United States, cites the Hope Scholarship in Georgia, where a large percentage of state tuition is paid for by the lottery.

The addition of the Quick Lotto will assist in the projected increase in gambling revenue in Nigeria.

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