READEN HOLDING ACQUIRES MORRICH LOTTERY, SECURES NIGERIAN GAMING LICENSES
- Editor
- Apr 23
- 1 min read
Whats Happening:
Readen Holding Corporation (OTC PINK: RHCO) has finalized the acquisition of an 80% controlling stake in Morrich Lottery Limited, a licensed lottery operator in Nigeria. This move marks RHCO's entry into the African gaming market, granting the company licenses for lottery, sportsbook, and casino operations in Nigeria's estimated $2.5 billion gaming market.
Key Moves:
RHCO acquires 80% stake in Morrich Lottery Limited
Gains licenses for lottery, sportsbook, and casino operations in Nigeria
Plans to revamp offerings with mobile-first innovations and Readies payment system integration
By The Numbers:
Nigeria's gaming market estimated at $2.5 billion
Projected 9% annual growth in Nigerian gaming market through 2030
Nigerian lottery market alone valued at over $850 million annually
Key Quotes:
"This is more than an acquisition — it's a strategic launchpad into one of the most dynamic gaming markets in the world," - Ridzky Berg, CEO of RHCO
"Nigeria's youthful population, expanding internet access, and growing appetite for digital gaming make this a prime market."
Bottom Line:
Readen Holding Corporation's acquisition of Morrich Lottery Limited marks a significant entry into the African gaming market. With licenses for lottery, sportsbook, and casino operations in Nigeria's growing $2.5 billion market, RHCO is positioned to leverage its fintech expertise and Readies payment system to capitalize on the country's expanding digital gaming landscape.
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