Nigeria’s private-owned lottery games company, International Lottery and Gaming Limited (ILGL) trading as NaijaLottery has closed an acquisition deal from blockchain company, Quanta PLC.
Quanta prides its stakes in NaijaLottery as the world’s first deal to reform traditional lottery, in which a blockchain company buys a traditional lottery company.
Commenting on behalf of ILGL, CharbelSaadeh, Managing Director of Naija Lottery says that “ILGL has provided popular and entertaining games to the Nigerian players; we are very excited to collaborate with Quanta to create an even more compelling experience to optimize lottery playing for the 200-million Nigerian market.”
On his part, Kostas Farris, Group CTO of Quanta says the deal “will usher in an era when innovation compliments tradition, injecting the power of blockchain technology into the lottery business. We are confident that we can make blockchain popular and this acquisition represents a significant base for Quanta to target other emerging markets in Africa and other continents.”
The companies says that the Nigeria lottery industry is a major source of wealth distribution in the country, while the role of cryptocurrencies continues to garner national-level attention.