Superbet, a prominent betting company in Guyana, offers a variety of services, including sports betting, virtual sports, and live betting. Established in December 2012, Superbet operates under Guiana Holding Inc., a fully-owned subsidiary of the Pasha Gaming Group, headquartered in Suriname.
The Pasha Gaming Group is a diversified gaming enterprise with operations extending beyond Suriname and Guyana to countries such as Uganda, Cyprus, and Belgium. This expansion reflects the group’s commitment to delivering comprehensive gaming experiences across multiple regions.
In Guyana, Superbet has encountered regulatory challenges, particularly concerning licensing and compliance with anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations. In 2019, the Gaming Authority of Guyana initiated an AML/CFT audit of Superbet’s operations to ensure adherence to legal standards. This audit was a prerequisite for the issuance of a Good Standing Certificate, essential for obtaining a Betting Shop Licence from the Guyana Revenue Authority (GRA).
During this period, the Gaming Authority received information suggesting that an associate of a principal of Guiana Holding Inc. had a prior conviction for money laundering. This association necessitated enhanced due diligence, including the aforementioned audit, to verify the integrity of Superbet’s operations.
Superbet contested the requirement for a Good Standing Certificate as a precondition for licensing, leading to legal proceedings against the GRA and the Gaming Authority. In September 2019, the High Court ruled in favor of Guiana Holding Inc., stating that the demand for such a certificate was ultra vires and not stipulated by the Tax Act or the AML/CFT Act. The court ordered the GRA to process Superbet’s applications for Betting Shop Licences for the years 2018 and 2019 without the contested requirement.
Despite these challenges, Superbet has maintained its presence in Guyana’s gaming market, continuing to provide a range of betting services to its clientele. The company’s resilience underscores its commitment to operating within the legal frameworks of the jurisdictions it serves, while striving to offer diverse gaming options to its customers.
In summary, Superbet Guyana operates under Guiana Holding Inc., a subsidiary of the Suriname-based Pasha Gaming Group. The company’s journey in Guyana highlights the complexities of navigating regulatory landscapes in the gaming industry, emphasizing the importance of compliance and due diligence in maintaining operational legitimacy.
