Readen Holding Corporation Expands into African Gaming with Major Acquisition

Readen Holding Corporation Expands into African Market

On April 21, 2025, Readen Holding Corporation (OTC PINK: RHCO) made a significant move in the gaming industry by signing a Memorandum of Understanding (MOU) to acquire an 80% stake in Morrich Lottery Limited, a licensed lottery operator based in Nigeria. This strategic acquisition brings Readen's payment platform, Readies, into the African gaming market.

Understanding the Acquisition

The deal will allow Readen Holding Corporation to oversee the expansion of Morrich Lottery's offerings to include popular games such as Keno and scratch lotteries. In addition, there is a blueprint in place to potentially introduce casino-style games in the future, pending necessary regulatory approvals. Morrich Lottery holds the essential licenses under Nigeria's regulatory framework, which paves the way for operational growth and additional service offerings.

Integration of Readies Payment Platform

A central feature of this agreement is the incorporation of Readies, Readen’s flagship digital payment solution, into all Morrich Lottery operations. This marks a pivotal moment as it signifies the Readies platform's inaugural entrance into the African market. Utilizing Readies will enable users to engage in lottery services through seamless and secure payment transactions, accommodating both fiat and cryptocurrency options.

Readies is a hybrid payment platform powered by blockchain technology, operated under Finexeble S.R.O., a subsidiary of RHCO based in the Czech Republic. Offering advanced capabilities that blend traditional finance with cryptocurrency, Readies promises quick transaction settlements, lower fees, and increased financial flexibility tailored for the fast-evolving gaming and digital transaction landscapes.

Due Diligence Process

Following the signing of the MOU, RHCO will embark on a six-week due diligence phase during which they will conduct a thorough examination of Morrich Lottery's business and financial records. During this period, the seller is committed to an exclusivity agreement, ensuring that no negotiations with other parties occur. The successful completion of this due diligence phase, along with the negotiation of final agreements, is critical before the deal can be finalized.

Broader Impact and Future Aspirations

This move into the Nigerian market represents not only Readen Holding's entry into the African gaming sector but also aligns with its broader ambition of fostering financial innovation on a global scale. Ridzky Berg, CEO of RHCO, expressed enthusiasm for the partnership, noting, "This collaboration not only fortifies our position within the global gaming arena but also introduces the Readies platform to an expansive and rapidly evolving consumer base in Africa. By embedding Readies into Morrich's operations, we are establishing a robust digital payment ecosystem that champions financial inclusion and enhances the user experience."

About Morrich Lottery Limited

Morrich Lottery Limited is recognized as a registered lottery operator in Nigeria, equipped with the necessary licenses to explore diverse lottery and gaming segments. With this partnership, Morrich Lottery is poised for significant growth as it collaborates with international partners to expand its offerings.

Readen Holding Corporation's Vision

Readen Holding Corporation is a publicly traded venture capital firm with a significant footprint in the Fintech sector, focusing on E-commerce and online payment solutions. As they broaden their portfolio, partnering with Morrich Lottery signifies a pivotal step toward achieving their vision of harnessing technology to create scalable solutions that resonate in emerging markets.

In conclusion, Readen Holding's strategic acquisition of Morrich Lottery Limited exemplifies a crucial investment not only in the African gaming landscape but also in the future of digital payment solutions. As the company prepares to implement its Readies payment platform, it open doors for innovation and growth in the financial sector within Nigeria and beyond.