RHCO Enters Nigerian Gaming Market with Acquisition of Morrich Lottery
Readen Holding Corporation, a Dutch venture capital firm specializing in fintech and digital payments, has officially entered the African gaming industry by acquiring a controlling interest in Nigeria’s Morrich Lottery. The move grants RHCO access to one of the continent’s fastest-growing gambling markets, with active licenses to operate lottery, sportsbook, and casino verticals.
Seasoned Leadership and Regional Vision
RHCO’s executive team, based in the Netherlands, brings decades of experience in lottery management and online gaming. With over 30 years in lottery and 15 in digital gaming, the group is well-positioned to navigate Nigeria’s regulatory landscape and deliver secure, scalable platforms.
Ridzky Berg, CEO of RHCO, 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.”
Multi-Sector Gaming Rollout
Through this acquisition, RHCO now holds licenses for lottery, sportsbook, and casino operations in Nigeria. The company estimates the local gaming market to be worth approximately $2.5 billion, with expected annual growth exceeding 9% through 2030.
RHCO plans a phased launch across three verticals, each supported by industry-specific operating partners. The company will maintain financial and technological oversight via its proprietary Readies payment system.
In the lottery segment, which generates more than $850 million annually, RHCO will overhaul Morrich’s current offerings. New products will include scratch tickets, Keno, and mobile-first formats, delivered through retail and digital distribution channels.
For sportsbook, RHCO aims to tap into Nigeria’s highly active betting audience – estimated at 60 million participants. The company will introduce a platform with real-time odds, integrated payments, and instant withdrawals.
The casino segment, still emerging in the Nigerian market, represents a long-term opportunity. RHCO expects to generate over $500 million from online and venue-based casino operations, developed in line with regulatory requirements.
Readies Payment System to Power Expansion
At the center of RHCO’s growth strategy is Readies, its blockchain-enhanced hybrid payment platform. Already active in Europe and Asia, Readies will become the default system for all Morrich Lottery operations. It supports both fiat and crypto transactions, offering users quick, low-fee, and fraud-resistant payment options.
Managed by RHCO’s Czech-based subsidiary Finexeble S.R.O., Readies ensures compliance with international financial standards. The platform also enables smooth cross-border payments and efficient onboarding – two factors seen as essential for success in developing markets like Nigeria.
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