Nigeria’s lottery sector expands as Readen Holding finalizes Morrich deal

Readen Holding Corporation (OTC Pink: RHCO), a venture capital firm specializing in fintech, digital payments, and e-commerce, has officially finalized the acquisition of an 80% controlling stake in Morrich Lottery Limited, a fully licensed lottery operator in Nigeria. The deal marks RHCO’s official entry into Africa’s booming gaming market — one of the fastest-growing sectors worldwide.

With the completion of the acquisition, RHCO now holds active licenses for lottery, sportsbook, and casino operations in Nigeria, tapping into an estimated $2.5 billion gaming industry that is projected to grow at a rate of over 9% annually through 2030. The move positions RHCO to become a major player in the global regulated gaming, entertainment, and fintech sectors.

Under its strategic plan, RHCO will engage specialized operating partners for each gaming vertical while maintaining full ownership of the financial and technical backbone through its proprietary Readies payment system:

Nigeria’s lottery market, valued at over $850 million annually, will see a refreshed offering from Morrich, including scratch tickets, Keno, and mobile-first innovations aimed at boosting adoption across retail and digital platforms.

With Nigeria’s rapidly growing sports betting market, RHCO plans to introduce a comprehensive sportsbook platform offering pre-match and live betting across a wide range of sports, supported by localized content and promotions.

For the casino vertical, the company intends to roll out an array of online and retail casino products, integrating popular games tailored to Nigerian and broader African audiences.

"We are thrilled to complete this acquisition and officially step into the African gaming space," said Richard Klitsie, CEO of Readen Holding Corporation. "Nigeria represents a tremendous opportunity, and with our strong financial infrastructure and innovative approach, we are confident in delivering exceptional gaming experiences while driving significant growth for our shareholders."

Founded in 1987, Readen Holding Corporation continues to expand its global footprint, combining gaming, digital payments, and e-commerce innovations to capitalize on emerging markets.