Regulatory Approval Paves the Way for MeridianBet in Nigeria

MeridianBet has received regulatory approval to supply its B2B offerings in the Nigerian market by the Lagos State Lotteries and Gaming Authority (LSLGA).

This latest development follows 20 years’ worth of operations on the African continent by the Golden Matrix Group subsidiary. Now, with this legislative approval, MeridianBet will be able to offer its B2B services to operators within the Nigerian market through the company’s newly licensed local operation – Masterlive Network Limited.

Commenting on this development, Zoran Milosevic, CEO of MeridianBet, said: “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.

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“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.”

Good to know: Golden Matrix reported a Q3 2024 revenue of $41m in December, marking an 85% increase year-on-year.

This latest update comes after the announcement that MeridianBet had become the official sponsor of the Maltese FA Cup in August 2024. Shortly thereafter, the organization made its official entrance into the Brazilian market through a partnership with Intergrity Compliance 360. Indeed, MeridianBet is owned and operated by Golden Matrix, who submitted a bid to enter the Ontario market in December.