Meridianbet expands B2B operations into Nigeria
Meridianbet Launches B2B Operations in Nigeria: A New Era for Betting in Africa
Meridianbet, a reputable subsidiary of Golden Matrix Group, Inc., has officially launched its B2B operations in Nigeria—one of Africa’s largest and fastest-growing betting markets. This strategic move not only solidifies Meridianbet’s two-decade presence in the African continent but also positions the company as a leading provider of innovative gaming products tailored for regulated markets.
Through its newly licensed local entity, Masterlive Network Limited, Meridianbet has secured full regulatory approval from the Lagos State Lotteries and Gaming Authority (LSLGA). With License No: LSLGA/OP/OSB/MB041124, the company is set to operate in both sports betting and online casino sectors, tapping into the burgeoning market potential.
The launch of Meridianbet.ng symbolizes a pivotal entry into a sector valued at over $2 billion, according to research from Orange Business Intelligence Technology. With an impressive participant base of over 60 million Nigerians, the market is one of the continent’s most dynamic and rapidly growing betting industries.
Strategic Insights from Leadership
Zoran Milosevic, CEO of Meridianbet, commented:
“Our expansion into Nigeria marks a significant step in our strategic vision to deepen our footprint in Africa’s most vibrant gaming markets. With a highly engaged player demographic and strong industry growth, Nigeria presents a major opportunity for our B2B model. We are dedicated to deploying our cutting-edge technology and AI-driven betting solutions to foster long-term success for our partners in the region.”
Financial Performance and Investor Outlook for FY 2024
Golden Matrix Group has announced preliminary revenue projections for fiscal year 2024, estimating earnings of approximately $150 million—indicative of the company’s robust growth trajectory. Audited results for FY 2024 are expected to be released shortly, providing investors with a thorough overview of performance metrics. The burgeoning Nigerian market stands as a strategic opportunity for future revenue expansion, intricately aligning with GMGI’s global strategy to enhance its presence in high-growth gaming landscapes.
Nigeria’s Market Potential and Strategic Opportunities
As outlined by Orange Business Intelligence Technology (ORBIT), Nigeria’s betting sector surpassed the $2 billion mark as early as 2020, with projections forecasting a potential growth to $4.7 billion in annual revenues over the next decade. Football remains the primary driver of this growth, supported by a vast customer base engaged in both online and offline betting activities. Meridianbet’s B2B model aims to supply advanced technological solutions, gaming content, and platform services to local operators, offering a scalable and customizable system designed specifically for the Nigerian landscape.
A Milestone Achievement in Meridianbet’s African Expansion
Operating across 18 markets spanning Europe, Africa, and Latin America, Meridianbet has successfully established itself as a prominent technology provider and betting operator. The expansion into Nigeria follows the company’s longstanding achievements in established African markets, where Meridianbet has maintained a significant presence for over 20 years.
The soft launch of Meridianbet.ng has already yielded promising early results, garnering positive partner satisfaction and excellent customer feedback.
Leveraging AI for Market Innovation
In conjunction with the launch, Meridianbet is introducing its proprietary AI Sports Betting Recommender and AI Casino Recommender. These innovative tools are designed to deliver personalized betting experiences, utilizing real-time data, player behavior insights, and predictive analytics. Proven successful in various global markets, these technologies will significantly enhance customer engagement, retention, and overall satisfaction in Nigeria’s rapidly evolving gaming sector.
