Meridianbet Expands B2B Operations into Nigeria, Entering a Regulated $2 Billion Betting Market

Core Insights - Meridianbet has officially launched its B2B operations in Nigeria, enhancing its presence in one of Africa's largest and fastest-growing betting markets [1][3] - The Nigerian betting market is valued at over $2 billion, with projections indicating potential growth to$4.7 billion in annual revenue over the next decade [5] Company Expansion - Meridianbet has secured full regulatory approval from the Lagos State Lotteries and Gaming Authority through its local entity, Masterlive Network Limited, allowing operations in sports betting and online casino [2] - The launch of Meridianbet.ng is part of a strategic expansion into Nigeria, which is seen as a significant opportunity for the company's B2B model [3][4] Market Potential - Over 60 million Nigerians are actively participating in betting, contributing to the rapid growth of the industry [3] - Football is identified as the primary driver of market growth, with a vast customer base engaging in both online and offline betting [5] Financial Outlook - Golden Matrix Group anticipates a preliminary full-year 2024 revenue estimate of $150 million, indicating continued growth [4] - The Nigerian market is aligned with GMGI's global strategy to strengthen its presence in high-growth gaming markets [4] Technological Innovation - Meridianbet is introducing AI-powered betting solutions, including an AI Sports Betting Recommender and AI Casino Recommender, to enhance customer engagement and satisfaction [8] - These innovations are expected to deliver personalized betting experiences based on real-time data and predictive analytics [8] Company Background - Founded in 2001, Meridianbet operates in 18 markets across Europe, Africa, and Latin America, establishing itself as a leading technology provider and betting operator [9] - The company has a strong omnichannel presence, including retail, online desktop, and mobile gaming [9]