Meridianbet Expands B2B Operations into Nigeria
Meridianbet, a subsidiary of Golden Matrix Group, Inc. (NASDAQ: GMGI), has officially launched its B2B operations in Nigeria, securing regulatory approval from the Lagos State Lotteries and Gaming Authority (LSLGA). The company’s expansion strengthens its position in Africa’s gaming industry, leveraging its extensive experience in regulated markets.
Nigeria’s Betting Industry on the Rise
Nigeria represents one of Africa’s largest gaming markets, with estimates from Orange Business Intelligence Technology valuing the sector at over $2 billion. The market is expected to continue its growth trajectory, with projections indicating potential revenue of $4.7 billion in the coming years. Football remains a key driver of betting activity, with millions of Nigerians engaging in both online and retail wagering.
Zoran Milosevic, CEO of Meridianbet, emphasized the significance of entering the Nigerian market:
“Our expansion into Nigeria marks a significant step in our long-term strategy to deepen our presence in Africa’s most dynamic gaming markets. With a highly engaged player base and strong industry growth, Nigeria presents a major opportunity for our B2B model. We are committed to bringing our cutting-edge technology, AI-powered betting solutions, and localized expertise to drive long-term success for our partners in the region.”
With operations spanning 18 markets across Europe, Africa, and Latin America, Meridianbet has established itself as a key technology provider and betting operator. The move into Nigeria aligns with the company’s broader strategy to expand into high-growth gaming jurisdictions.
AI-Driven Betting Solutions
As part of its Nigerian launch, Meridianbet is introducing AI-powered technology, including its AI Sports Betting Recommender and AI Casino Recommender. These tools use real-time data and predictive analytics to personalize betting experiences, a feature that has already seen success in other markets. By integrating these innovations, the company aims to enhance customer engagement and operator performance.
Golden Matrix Group has projected its full-year 2024 revenue at approximately $150 million, reflecting continued expansion across key markets. The company expects to release its audited financial results soon, providing further insight into its performance. Nigeria’s growing gaming sector presents an additional avenue for revenue growth, reinforcing GMGI’s global expansion strategy.
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