Lottery.com Completes Spektrum Ltd Acquisition Deal at a $3 Share Price
Rhea-AI Summary
Lottery.com (Nasdaq: LTRY) has completed the acquisition of Spektrum from PlusEvo through a Share Purchase Agreement signed on March 13, 2025. The deal, valued at $1.5 million in common stock at $3 per share, is aimed at supporting Lottery.com's strategic expansion and development of Lottery.com International.
The acquisition provides the company with a compliant platform to support lottery, sweepstakes, and social gaming operations across multiple international jurisdictions. This marks Lottery.com's first closed tech deal of 2025, positioning the company for significant international expansion with an initial focus on Europe, Africa, and Asia.
The acquired proprietary technology is expected to strengthen the company's ability to scale operations worldwide and aligns with their commitment to relaunch ticket sales operations, potentially unlocking greater geographical revenue opportunities for shareholders.
Positive
- Acquisition provides compliant platform for international lottery and gaming operations
- Deal valued at $1.5M in common stock at $3 per share
- Strategic expansion into Europe, Africa, and Asia markets
- Acquisition includes proprietary technology for global scaling
Negative
- Payment in stock may lead to shareholder dilution
- Success depends on uncertain international market penetration
- Multiple regulatory risks across different jurisdictions
News Market Reaction – LTRY
On the day this news was published, LTRY gained 5.60%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
IP is Key Component for International Operations
FORT WORTH, Texas, March 19, 2025 (GLOBE NEWSWIRE) -- Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company in digital lottery and sports entertainment, has completed the acquisition of Spektrum Ltd from PlusEvo Ltd through a signed Share Purchase Agreement (SPA) on March 13, 2025. This acquisition, valued at
Matthew McGahan, Chairman and CEO of Lottery.com, commented:
"I am delighted about this acquisition. Lottery.com is on track to becoming a globally recognized and trusted brand, and this acquisition is a pivotal step in establishing our international presence. Owning and controlling our proprietary technology strengthens our ability to scale operations worldwide, aligns with our commitment to relaunch Lottery.com’s ticket sales operations, and unlocks greater geographical revenue opportunities—ultimately delivering increased value to our shareholders. This tech deal is the first closed deal of 2025, marking an exciting milestone following our successful executive summit."
This acquisition marks the first of several strategic moves planned for 2025 as Lottery.com pursues further domestic and international expansion. With multi-jurisdictional operations and an initial focus on Europe, Africa, and Asia, the Company is positioned to significantly broaden its brand reach, expand its audience, and accelerate revenue growth in the coming months.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on June 4, 2024, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
This press release was published by a CLEAR® Verified individual.
For more information, please visit www.lottery.com or contact our media relations team at press@lottery.com.
FAQ
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