Readen Holding Corporation (RHCO) has signed a final agreement to acquire an 80% controlling stake in Morrich Lottery Limited, a fully licensed lottery operator in Nigeria.
This acquisition includes licenses for lottery, sports betting, and casino operations in Nigeria, marking RHCO's official entry into the African gaming market.
RHCO will rebrand the lottery, including features such as scratch cards, keno, and mobile-first options to support growth in both retail and digital channels.
The company also stated that it will fully comply with local government regulations in conducting casino operations.
In the press release, RHCO explained: "A key aspect of this agreement is the integration of RHCO's flagship digital payment solution, Readies, into all operations of Morrich Lottery.
"This marks a significant milestone for the Readies platform as it officially enters the African market for the first time."
Readies is a "blockchain-driven hybrid payment platform" operated by RHCO's licensed subsidiary Finexeble in the Czech Republic.
The Memorandum of Understanding (MOU) for the agreement was signed on April 21.
It is noteworthy that RHCO has also expanded into the Japanese market through a strategic licensing agreement and business alliance with Quantum Solutions.
RHCO CEO Ridzky Berg stated: "This is not just an acquisition, but a strategic launchpad into one of the most dynamic gaming markets in the world.
"Nigeria's young population, expanding internet access, and growing demand for digital gaming make it a major market.
"With our mature fintech capabilities and experienced leadership, we are ready to set new standards for integrated, secure, and user-friendly gaming platforms across the region."
In other African news, Greentube has entered the South African market through an agreement with Supabets.
