Readen Holding closes acquisition of Nigerian operator Morrich Lottery
RHCO plans to collaborate with local and international partners for each vertical, while retaining full control of the financial and technical infrastructure through its proprietary Readies payment system.
Key points:
– Readen Holding has acquired an 80% controlling stake in Morrich Lottery Limited
– The company explained that this was to launch its payments platform into the African market
Readen Holding Corporation (RHCO) has signed the final agreements for an 80% controlling stake in Morrich Lottery Limited, a fully licensed lottery operator in Nigeria.
With the deal including licences for lottery, sportsbook and casino operations in Nigeria, this acquisition marks RHCO’s official entry into the African gaming market.
RHCO will rebrand the lottery to include scratch tickets, Keno and mobile-first additions to support growth across both retail and digital channels.
The company has also explained that it will introduce casino operations in full compliance with local authorities.
In the press release, RHCO explains that: “A significant aspect of this agreement is the integration of RHCO’s flagship digital payment solution, Readies, into all Morrich Lottery operations.
“This marks a major milestone for the Readies platform, as it makes its first official entry into the African market.”
Readies is a ‘blockchain-powered hybrid payment platform’ operated by Finexeble, RHCO’s licensed subsidiary in the Czech Republic.
The Memorandum of Understanding (MOU) for the deal was signed a few days ago on 21 April, before being closed today.
Good to know: RHCO has also recently expanded into the Japanese market through a strategic licensing agreement and business alliance with Quantum Solutions
Ridzky Berg, RHCO CEO, said: “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.”
In other African news, Greentube has entered the South African market through a deal with Supabets.
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