READEN HOLDING CORP (OTC PINK: RHCO) FINALIZES ACQUISITION OF MORRICH LOTTERY LIMITED, SECURES LOTTERY, SPORTSBOOK, AND CASINO LICENSES IN NIGERIA

PR Newswire

HONG KONG, April 23, 2025

HONG KONG, April 23, 2025 /PRNewswire/ -- 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.

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:                 www.okepay.biz 
OkePay VPOS:            www.okepay.biz/vpos 
Oke Partners / OkeApp:  www.okepartners.com 
Oke Travel Club:        www.oketravelclub.com 
OkToken:                oktoken.biz 
Readies:                www.readies.biz 
Neckermann Direct:      www.neckermanndirect.eu 
Two Percent:            www.twopercent.hk 
Finexeble:              www.finexeble.com 
 

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.

For further information please contact RHCO at info@readenholdingcorp.com

or +852 3950 5911

The RHCO corporate email address is info@readenholdingcorp.com

The RHCO corporate website can be accessed at www.readenholdingcorp.com

The RHCO Twitter account can be accessed at https://twitter.com/readenrhco

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.

View original content:https://www.prnewswire.com/news-releases/readen-holding-corp-otc-pink-rhco-finalizes-acquisition-of-morrich-lottery-limited-secures-lottery-sportsbook-and-casino-licenses-in-nigeria-302435622.html

SOURCE Readen Holding Corporation

(END) Dow Jones Newswires

April 23, 2025 08:30 ET (12:30 GMT)