Quanta has signed contracts to acquire a stake in International Lottery and Gaming Limited (ILGL), and concluded the world’s first deal to see a blockchain company acquire a traditional lottery company.
The acquisition will usher in an era where innovation sits alongside tradition, injecting the power of blockchain technology into the lottery business. Quanta sees this ambitious move as an opportunity to reinforce and extend its efforts to promote blockchain starting with Nigeria where ILGL is rooted, and very soon afterwards expand to other countries in Africa.
ILGL, trade-named NaijaLottery
“Now is the time to build on the momentum of the traditional Nigerian lottery market. Together, we will continue to build a safe and trusted platform that ensures fairness and transparency, while offering amazing functionality to players and helping to boost the local economy.
“We believe we are carving out a bright future for the players and to the industry as a whole.” said Kostas Farris, Group CTO of Quanta.
“This is a profound opportunity to bolster the rapidly-evolving lottery business. We are confident that we can make blockchain lottery popular and this acquisition represents a significant base for Quanta to target other emerging markets centered in Africa.
“We aim to build up a blockchain-based ecosystem that will serve the gaming industry whilst stimulating the growth of the local economy through generating new businesses and employment opportunities.” Kostas added.
Commenting on behalf of ILGL, Charbel Saadeh, Managing Director of Naija Lottery said, “ILGL has provided popular and entertaining games to the Nigerian players; it is highly respected in the gaming industry and we are very excited to collaborate with Quanta. The acquisition is a historic announcement. This is a combination of expertise—the integration of blockchain lottery with local operation, to create an even more compelling experience to optimize lottery playing for the 200-million Nigerian market.”
NaijaLottery
The Nigeria lottery industry has undergone strong growth in recent years and is considered as one of the most lucrative business opportunities in the world. It is a major source of wealth distribution in the country, while the role of cryptocurrencies continues to garner national-level attention.
About Quanta
Quanta PLC is an innovative blockchain-oriented company, that utilizes smart contracts in order to ensure fully automated and transparent platform to Lotteries.
Quanta PLC owns Quanta Technology Limited the operator of the world’s first licensed, blockchain-based gaming company on the Ethereum platform. Its products, including gaming platform, random number generator, token-centric payment gateway and game wallet are blockchain powered and certified to ensure utmost trust and transparency in the gaming industry. The company employs Smart Contracts to offer full automation and integrity to lotteries.
With the support of QNTU the utility token, Quanta leverages services to strengthen customers engagement. QNTU is currently trading on five renowned cryptocurrency exchanges such as Lykke, HitBTC, Bit-Z, Cryptopia and BitoPro.
About International Lottery and Gaming Limited
International Lottery and Gaming Limited (ILGL) is a privately-owned company established in Nigeria, which has been granted a Grade A National License from the National Lottery Regulatory Commission to offer lottery games throughout the country. NaijaLottery
For more information: http://naijalottery.com/en/home
Source: Latest News on European Gaming Media Network