top of page
Search

Press Release: Readen Holding Corporation (OTC Pink: RHCO) Finalizes Acquisition of Morrich Lottery Limited, Secures Lottery, Sportsbook, and Casino Licenses in Nigeria

  • John Grey
  • 5 minutes ago
  • 3 min read

Readen Holding Corporation (OTC PINK: RHCO), a venture capital specializing in Fintech, Digital Payments, and E-commerce, today announced the successful signing of the final agreement to acquire an 80% controlling stake in Morrich Lottery Limited, a fully licensed lottery operator in Nigeria. This milestone marks RHCO’s official entry into the African gaming market — one of the fastest-growing and most promising sectors globally.



With the closing of this acquisition, RHCO now holds active licenses in Nigeria for lottery, sportsbook, and casino operations, unlocking access to an estimated $2.5 billion gaming market projected to grow over 9% annually through 2030. This move positions RHCO to become a major international force in regulated gaming, entertainment, and fintech infrastructure.


Strategic Rollout by Category


RHCO’s operational roadmap includes the deployment of industry-specialized operating partners for each vertical, while RHCO retains full control of the financial and technical infrastructure through its proprietary Readies payment system:


• Lottery: Nigeria’s lottery market alone is valued at over $850 million annually. RHCO will revamp Morrich’s offerings with scratch tickets, Keno, and mobile-first innovations, targeting mainstream adoption through retail and digital channels.


• Sportsbook: With an estimated 60 million Nigerians engaging in sports betting, the sportsbook segment is projected to hit $1.2 billion in annual revenue. RHCO will launch a full-spectrum betting platform integrated with Readies, offering fast, secure payouts and real-time odds.


• Casino: The online casino market is emerging rapidly, with RHCO targeting over $500 million in long-term revenue potential. Regulated online and venue-based gaming operations will be introduced in stages, in full compliance with local authorities.


Fintech Backbone: Readies Integration


Central to this strategy is Readies, RHCO’s hybrid blockchain-powered payment solution. Already making waves in Europe and Asia, Readies will now serve as the exclusive payment rail across all Morrich platforms — handling both fiat and crypto transactions with speed, transparency, and fraud protection.


Operated through RHCO’s Czech-licensed subsidiary, Finexeble S.R.O., Readies ensures complete regulatory compliance while enabling cross-border payments, low-fee transactions, and seamless user onboarding — a crucial advantage in emerging markets like Nigeria.


Leadership Built on Decades of Experience


RHCO’s expansion is underpinned by a Dutch management team with over 30 years of expertise in lottery operations and more than 15 years in online gambling and gaming technology. This deep industry knowledge ensures that all gaming activities under RHCO’s umbrella will be run to the highest standards of integrity, innovation, and compliance.


Ridzky Berg, CEO of RHCO, commented: “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.”


About Morrich Lottery Limited

Morrich Lottery Limited is a registered lottery operator in Nigeria, licensed to operate and expand into various lottery and gaming segments. The company is poised for rapid growth as it aligns with strategic international partners to scale its services and offerings.


About RHCO

Readen Holding Corp. (www.readenholdingcorp.com) is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;

 

OkePay VPOS: www.okepay.biz/vpos

Oke Partners / OkeApp: www.okepartners.com

Oke Travel Club: www.oketravelclub.com

OkToken: oktoken.biz

Neckermann Direct: www.neckermanndirect.eu

Two Percent: www.twopercent.hk

 

RHCO is a diversified holding company, with an operating history of over 30 years, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns, in order to maximize value for all shareholders. RHCO has subsidiaries and liaison offices in Europe and Asia.

bottom of page