Holding Corporation Finalizes Acquisition of Morrich Lottery Company in Nigeria
Readen Holding Corporation (RHCO) Seals the Deal on Morrich Lottery Acquisition, Ventures into African Gaming Market
That's right, folks! Readen Holding Corporation (RHCO), the fintech powerhouse, is making some serious moves. They've just closed a hefty deal, snagging an 80% controlling stake in Morrich Lottery Limited, a fully licensed Nigerian lottery operator. What does this mean? Well, RHCO's now got official access to Nigeria's fiery gaming market, valued at a whopping $2.5 billion and forecasted to grow at a whopping 9% yearly until 2030[1][2]. You heard it here first—RHCO's now licensed for lottery, sportsbook, and casino operations in Nigeria[1][2].
RHCO's strategically planned their entry, targeting different market segments:
- Lottery: Over $850 million in annual revenue. They aim to jazz up Morrich's offerings with Keno, scratch games, and mobile-first technology, capturing both retail and digital audiences[1][2].
- Sportsbook: A confirmed projected revenue of $1.2 billion per year[2].
- Casino: Long-term riches of $500 million are on the table, with sights set on introducing casino offerings, subject to regulatory approval[1][2].
To make this dream a reality, they're eyeing partnerships for each segment and including their acclaimed Readies payment system at the core. This blockchain-powered hybrid platform handles swift, transparent, and secure transactions—fraud prevention, here we come![1][2]
But hey, RHCO ain't new to the game. Their operations are guided by a renowned Dutch management team with over 30 years of lottery prowess and more than 15 years in online gambling technology[2][3]. So you know it's gonna be good!
Stay tuned for more updates, as RHCO's grand plan includes:
- Expanding Morrich's repertoire with Keno, scratch games, and possibly casino games, leveraging existing regulatory framework[1][2].
- Going digital with seamless mobile solutions and effortless payments via the Readies platform[1][2].
- Reaching mainstream adoption across retail and digital channels, putting RHCO on the map as an international gaming, entertainment, and fintech heavyweight in Nigeria[2][3].
Now that's what you call making a move! Let's see what the future holds for RHCO in this dynamic gaming scene!
Sources:[1] Readen Holding Corporation Press Release, 2025. https://www.rhcocorp.com/news/rhnco-enters-nigerian-gaming-market-with-acquisition-of-morrich-lottery-limited[2] Markets Database, 2025. https://www.marketsdatabase.com/market-research/nigerian-gaming-market/[3] Dutch Business Review, 2025. https://www.dbusinessreview.nl/news/rhco-expands-into-nigerian-gaming-market-with-readies-payment-system
- The Readen Holding Corporation (RHCO), a powerhouse in fintech, has ventured into the African gaming market, securing an 80% stake in Morrich Lottery Limited.
- This move grants RHCO access to Nigeria's $2.5 billion gaming market, anticipated to grow by 9% annually until 2030.
- With this acquisition, RHCO is now licensed for lottery, sportsbook, and casino operations in Nigeria.
- In the lottery segment, RHCO aims to enhance Morrich's offerings with Keno, scratch games, and mobile-first technology.
- The sportsbook segment is projected to generate $1.2 billion in annual revenue, while the casino segment has the potential for $500 million in long-term revenues.
- RHCO intends to partner with relevant entities for each segment and integrate their acclaimed Readies payment system for secure transactions.
- As RHCO expands its offerings, aims to go digital, and reach mainstream adoption across retail and digital channels, they position themselves as an international gaming, entertainment, and fintech heavyweight in Nigeria.
