The proposed value-added tax (VAT) on betting and the increase in excise duty to 20 percent in Kenya could lead to the disappearance of at least 80 percent of sportsbook bets in the market, making investment in the sector unviable and triggering capital flight.
Ilya Karpinskiy is a seasoned veteran in the gaming industry, involved in various companies and ventures. Cyprus has become a popular location for video game developers from Eastern Europe due to its favorable environment and government support. Cyprus is also seen as a significant location for venture investments, offering a unique legal framework. Owlcat Games, founded by Ilya, focuses on developing premium PC console RPG titles. The Games Fund, co-founded by Ilya, supports portfolio companies by prioritizing founders’ vision and expertise. Free-to-play games and premium titles present different challenges and opportunities in the gaming industry. The Games Fund aims to become the number one gaming VC, fostering innovation and talent in the gaming industry globally.