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Racing Point sponsor SportPesa denies business shutting down

Racing Point sponsor SportPesa denies business shutting down

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Racing Point sponsor SportPesa denies business shutting down

Racing Point sponsor SportPesa denies business shutting down

Racing Point's title sponsor SportPesa has refuted any suggestion that it will be forced to close down over the Kenyan government's moves to regulate gambling.

Gambling in Kenya has grown into a $2billion industry, allowing companies such as SportPesa to grow rapidly.

SportPesa has also moved into sponsorship in other sports, notably football with several English clubs in partnership.

However, their business has been put into recent doubt as the Kenyan government has introduced controls on advertising and the ability for bets to be placed on mobile networks.

SportPesa insists it will not force a closure, despite business having halted according to local reports.

SportPesa's issues come hot on the heels of another controversy surrounding a new title sponsor in F1, Rich Energy.

The energy drinks company has been reformed as Lightning Volt this week after a bitter public battle which saw CEO William Storey ousted after trying to terminate the Haas sponsorship over perceived poor performance.

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