Welcome to our dedicated page for Lottery Com news (Ticker: LTRY), a resource for investors and traders seeking the latest updates and insights on Lottery Com stock.
The LTRY news page on Stock Titan aggregates recent announcements and media coverage related to Lottery.com Inc. (Nasdaq: LTRY, LTRYW). Lottery.com describes itself as a technology company transforming the intersection of gaming, sports and entertainment, and its news flow reflects this focus across digital lottery, sports media, motorsport sponsorships and financing activities.
Recent Lottery.com news highlights the company’s growing presence in motorsport through sponsorship of drivers in the NTT INDYCAR SERIES and INDY NXT by Firestone. Releases detail race results and performance updates for drivers such as Callum Ilott, Louis Foster and Sebastian Murray, whose cars carry Lottery.com and Sports.com branding. These stories emphasize brand visibility at high-profile events and the company’s investment in emerging racing talent.
News items also cover corporate and strategic developments, including the planned launch of the Sports.com Super App, which Lottery.com describes as a first-of-its-kind digital destination combining live streaming, community chat, stats-based social media, e-commerce, real-money and fantasy sports gaming, and sports news. Additional coverage addresses leadership appointments at Sports.com Media and Lottery.com International, as well as the creation of Sports.com Studios to produce sports-focused films, docuseries and premium digital content.
Investors and followers of LTRY stock will also find updates on financing and market-related matters, such as the expansion of a committed financing facility with Generating Alpha Ltd., the company’s announcement of regaining compliance with Nasdaq’s minimum bid price requirement, and statements regarding an alleged "short and distort" campaign and related legal steps.
By reviewing this news feed, readers can monitor Lottery.com’s latest disclosures on sponsorships, media initiatives, financing arrangements and market developments as the company pursues its stated strategy at the intersection of gaming, sports and entertainment.
Lottery.com, Inc. (LTRY, LTRYW) announces significant leadership changes, appointing Matthew H. McGahan as Chairman of the Board, alongside new directors Barney Battles and Naila Chowdhury. McGahan's experience in corporate turnarounds aims to guide the company through a revitalized growth strategy amid a changing business environment. Battles brings expertise in gaming and financial discipline, while Chowdhury focuses on building global business partnerships. These appointments are seen as critical steps in enhancing the company's governance and strategic capabilities.
Lottery.com has announced the appointment of Yusufali & Associates, LLC as its new independent registered public accounting firm for financial reviews and audits. This change comes alongside the recent appointment of new board members, an interim CEO, and an interim CFO. Sohail Quraeshi, the CEO, expressed confidence in Yusufali’s extensive experience to heighten the company's financial accountability. This marks a pivotal moment for Lottery.com, emphasizing a commitment to improved financial processes.
Lottery.com has announced a delay in filing its Form 10-Q for the quarter ended June 30, 2022, due to ongoing reviews of its financial statements and internal accounting controls. This delay has led to a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1). The company has a grace period until August 31, 2022, to file the required report or submit a compliance plan. Additionally, Lottery.com has furloughed most employees as it lacks enough financial resources to sustain operations. The company is actively working to rectify its compliance issues.
Lottery.com reported first quarter 2022 revenue of $21.2 million, a significant increase of 287% from the same period last year. Gross profit rose to $18.0 million, up 620%, while the company faced a net loss of $15.8 million, widening from $5.5 million a year earlier. Adjusted EBITDA improved to $7.7 million, driven by strong sales of LotteryLink credits despite increased personnel costs. Cash reserves stood at $50.8 million, bolstered by a previous business combination. The company is pursuing new B2C initiatives and expanding its LotteryLink affiliate network.
Lottery.com has announced a conference call scheduled for May 16, 2022, at 8:30 a.m. ET to discuss its first-quarter results for the period ending March 31, 2022. A press release with detailed results will be issued before the call. Interested parties can join via telephone by dialing 877-313-2495 or 929-517-0906 for international calls, using conference code 9189693. A live webcast will be available on Lottery.com’s Investor Relations page, along with a replay for those unable to listen live.
Lottery.com reported a strong financial performance for Q4 2021 with revenues reaching $21.5 million, a remarkable 559% increase from the previous year. Full-year revenue climbed to $68.5 million, reflecting a 819% growth, driven mainly by the sales of LotteryLink credits. However, the company noted a net loss of $9.3 million for the year, primarily due to high stock compensation and interest expenses. With approximately $62.6 million in cash as of year-end, Lottery.com aims to leverage its growth momentum and explore new market opportunities in 2022.
Lottery.com (Nasdaq: LTRY, LTRYW) announced a conference call scheduled for March 31, 2022, at 8:30 a.m. ET to discuss its Q4 and full year results for 2021. A press release will precede the call, providing the detailed results. The conference can be accessed via a live webcast on the Lottery.com Investor Relations website, with a replay available afterward. Participants can also join by phone using the provided numbers and conference code. This call aligns with Lottery.com's mission to innovate in the lottery space.
Lottery.com (Nasdaq: LTRY, LTRYW) announced significant leadership changes to enhance its strategic direction. William Thompson joins as the Chair of the Audit Committee, bringing extensive financial and governmental expertise. Ryan Dickinson is promoted to Chief Financial Officer and President, while Katie Lever becomes Chief Operating Officer and Chief Legal Officer, and Matt Clemenson is named Chief Revenue Officer. CEO Tony DiMatteo emphasized that these appointments are crucial for the company’s growth and operational optimization.
Lottery.com has partnered with ICARO Media Group to promote its online lottery platform across global markets, including Latin America, Europe, and North America. ICARO, utilizing its AI-driven media technology, will market Lottery.com products to 4.2 million unique monthly users in one LATAM market while aiming to reach over 220 million subscribers in total. This partnership emphasizes Lottery.com's expanding B2B2C business strategy and aims to enhance user engagement through ICARO's broad reach in the telecom and media landscape.
Lottery.com (Nasdaq: LTRY, LTRYW) has chosen Algorand's blockchain for its Project Nexus, a platform aimed at revolutionizing lottery and online gaming. This collaboration emphasizes Lottery.com’s commitment to enhancing user experience through security, scalability, and environmentally sustainable practices. CEO Tony DiMatteo highlighted Algorand's efficiency and commitment to transparency and sustainability, aligning with the company's vision to move gaming towards blockchain technology. The partnership is expected to boost Lottery.com’s growth in the evolving gaming landscape.