Readen Holding Corporation (RHCO) recently bought an 80% stake in Morrich Lottery Limited, a licensed lottery company in Nigeria. This gives them a controlling interest in the business. The deal includes licenses to operate lottery games, sports betting and casinos in the country. So it represents the RHCO’s first official entry into the African gaming industry.
As part of the acquisition, RHCO plans to rebrand Morrich’s lottery products. They want to introduce new scratch tickets, Keno games and mobile features to help the business grow. The company also intends to open new casinos, as long as they follow all local rules and regulations.
A key part of this deal for RHCO is integrating their Readies digital payment platform into the lottery’s operations. This will be the Readies’ first launch in the African market. Readies uses blockchain technology as a payment system. It is run by Finexeble, a licensed RHCO subsidiary based in the Czech Republic.
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