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

Rhea-AI Summary

Readen Holding (RHCO) has finalized the acquisition of an 80% controlling stake in Morrich Lottery , a licensed lottery operator in Nigeria. This strategic move grants RHCO access to Nigeria's gaming market, valued at approximately $2.5 billion with a projected 9% annual growth through 2030.

The company now holds licenses for lottery, sportsbook, and casino operations in Nigeria. The market segments include:

• Lottery: Valued at $850 million annually
• Sportsbook: Projected $1.2 billion in annual revenue
• Casino: Targeting $500 million in long-term revenue

RHCO will integrate its proprietary Readies payment system, a blockchain-powered solution operated through Czech-licensed Finexeble S.R.O., across all Morrich platforms. The company's Dutch management team brings 30 years of lottery operations experience and 15 years in online gambling technology.

Positive

• Acquired 80% controlling stake in licensed Nigerian lottery operator
• Access to $2.5B gaming market with 9% annual growth projection
• Secured three valuable licenses: lottery ($850M market), sportsbook ($1.2B potential), and casino ($500M potential)
• Integration of proprietary Readies payment system for competitive advantage
• Management team brings 30+ years of lottery and 15+ years of online gambling expertise

Negative

• Entering highly competitive and regulated gaming market
• Significant investment required for platform development and market penetration
• Operational risks in emerging market environment

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.

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SOURCE Readen Holding Corporation

FAQ

What is the value of the Nigerian gaming market that RHCO is entering through the Morrich acquisition?

The Nigerian gaming market is valued at $2.5 billion and is projected to grow over 9% annually through 2030.

How much of Morrich Lottery did RHCO acquire in the recent deal?

RHCO acquired an 80% controlling stake in Morrich Lottery

What gaming licenses does RHCO now hold in Nigeria following the Morrich acquisition?

RHCO now holds active licenses for lottery, sportsbook, and casino operations in Nigeria.

What is the projected annual revenue for RHCO's sportsbook segment in Nigeria?

The sportsbook segment is projected to reach $1.2 billion in annual revenue, with an estimated 60 million Nigerians engaging in sports betting.

How will RHCO handle payments across its Nigerian gaming operations?

RHCO will use its proprietary Readies payment system, a blockchain-powered solution that handles both fiat and crypto transactions, as the exclusive payment rail across all Morrich platforms.