Meridianbet, a subsidiary of Golden Matrix Group, Inc., has secured full regulatory approval to enter Nigeria's rapidly growing betting market through its local entity, Masterlive Network Limited. The company received a license from the Lagos State Lotteries and Gaming Authority, enabling it to operate in sports betting and online casino verticals.
The Nigerian betting market represents a substantial opportunity, with over 60 million active participants and projected revenues potentially reaching $4.7 billion in the next decade. Football remains the primary driver of market growth, creating a fertile landscape for Meridianbet's innovative B2B model.
Zoran Milosevic, CEO of Meridianbet, highlighted the strategic importance of this expansion, emphasizing the company's commitment to delivering cutting-edge technology and AI-powered betting solutions tailored to the local market. The company will provide advanced technology platforms, gaming content, and services to local operators.
As part of its market entry, Meridianbet is introducing proprietary AI Sports Betting and Casino Recommender technologies. These innovations leverage real-time data, player behavior, and predictive analytics to enhance customer engagement and satisfaction.
The expansion aligns with Golden Matrix Group's global strategy, which includes a preliminary full-year 2024 revenue estimate of $150 million. With operations already established in 18 markets across Europe, Africa, and Latin America, Meridianbet continues to strengthen its position as a leading international gaming technology provider.
