Meridianbet, a subsidiary of Golden Matrix Group, Inc., has officially launched its B2B operations in Nigeria, securing full regulatory approval from the Lagos State Lotteries and Gaming Authority. This move signifies a strategic expansion into one of Africa's most promising betting landscapes, where over 60 million Nigerians are actively engaged in betting activities. The Nigerian betting industry, as per Orange Business Intelligence Technology, is on a trajectory to achieve potential annual revenues of $4.7 billion in the coming decade, with football betting leading the charge.
Zoran Milosevic, CEO of Meridianbet, underscored the strategic significance of this expansion, pointing to the company's dedication to introducing advanced technology and AI-powered betting solutions to the Nigerian market. Operating through its newly licensed local entity, Masterlive Network Limited, under License No: LSLGA/OP/OSB/MB041124, Meridianbet is set to revolutionize the local gaming scene. The company's proprietary AI Sports Betting Recommender and AI Casino Recommender stand out as key innovations, offering personalized betting experiences by analyzing real-time data, player behavior, and predictive analytics.
This expansion is a part of Golden Matrix Group's broader strategy to cement its presence in high-growth gaming markets worldwide. The company's preliminary full-year 2024 revenue estimate of $150 million reflects its optimism about the growth prospects in Nigeria and beyond. With a footprint in 18 markets across Europe, Africa, and Latin America, Meridianbet brings a wealth of experience in providing cutting-edge technology solutions, gaming content, and platform services to local operators. The soft launch of Meridianbet.ng has already yielded promising early results, with high levels of partner satisfaction and positive customer feedback, setting the stage for a successful operation in Nigeria's dynamic betting industry.
