for early access to the latest igaming videos!
and get the latest igaming news first!
A new brand is making its bold entry into the African gaming market. Readen Holding Corporation has acquired an 80% controlling stake in Morrich Lottery Limited, a licensed lottery operator in Nigeria. This deal secures licences for RHCO to run lottery, sportsbook, and casino operations within the country. However, it also serves a bigger purpose of launching Readies, the company’s flagship payments platform in Africa.
According to the official statement, this is a deliberate move to merge gaming and fintech under one roof. Nigeria’s market is currently valued at $2.5 billion and projected to grow by over 9% annually through 2030. Therefore, it presents the ideal gateway.
“This is more than an acquisition. It’s a strategic launchpad into one of the most dynamic gaming markets in the world. Nigeria’s youthful population, expanding internet access, and growing appetite for digital gaming make this a prime market. With our proven fintech backbone and seasoned leadership, we’re ready to set a new standard for integrated, secure, and user-friendly gaming platforms across the region,” said Ridzky Berg, CEO of RHCO.
Beyond Gaming: The Real Play Is Payments
This acquisition will power the integration of Readies into Morrich Lottery’s entire operational structure. RHCO’s blockchain-powered hybrid payment platform is already active in Europe and Asia. Operated by Finexeble, the company’s licensed Czech subsidiary, it supports fiat and crypto transactions with cross-border capabilities and enhanced fraud prevention features.
With this acquisition, Readies becomeS the exclusive payment infrastructure for all Morrich’s Nigerian operations. Readen Holding Corporation confirmed this integration marks the platform’s first official entry into the African market, which is a critical milestone to the firm’s global expansion.
Rebranding Morrich and Tapping Nigeria’s 60 Million Bettors
The agreement was finalised shortly after the initial Memorandum of Understanding was signed on April 21. As part of its terms, RHCO will rebrand Morrich Lottery by launching mobile-friendly scratch tickets, Keno, and revamped sportsbook offerings.
Though the country’s market continues to grow, Readen is playing the long game. The company projects over $500 million in long-term revenue potential from phased casino operations, complying with local regulations.
A Dutch-Led Expansion With Global Expertise
The execution of RHCO’s African strategy will be driven by a Dutch management team with over three decades of experience in lottery operations and 15+ years in online gaming tech. According to the firm, their deep expertise will be instrumental in building scalable and innovative gaming products, while maintaining regulatory compliance.
However, Readen Holding Corporation isn’t stopping in Nigeria. This deal forms part of a wider global expansion plan, as the company recently secured a licensing deal and business alliance with Quantum Solutions to enter the Japanese market. More territories are likely on the horizon.
Final Thoughts
While financial details of the transaction remain undisclosed, RHCO is clearly positioning itself as more than just another newcomer in the African gaming market. By leveraging Morrich Lottery as a launch vehicle for Readies, the company is taking a payments-first approach that could potentially reshape how digital transactions happen on the continent.
If successful, the company’s playbook could serve as a model for future cross-industry mergers, where fintech powers online gaming.
Source: Next.io
