Lottery.com (NASDAQ: LTRY), a leading online lottery services provider, has finalized terms for the acquisition of S&MI Ltd., an innovative technology company behind the current Sports.com brand and app. According to the announcement, the total acquisition price will be satisfied with equity of Lottery.com common stock, priced at $3 per share. According to the announcement, the acquisition of S&MI is expected to solidify Sports.com as a leader in the industry, enhance the long-term value of the Sports.com brand and provide substantial growth opportunities in target markets such as the Middle East and North Africa. The company anticipates closing the acquisition on Sept. 1, 2024.
“The acquisition of S&MI Ltd. is an excellent fit for the Sports.com brand,” said Lottery.com chair and CEO Matthew McGahan in the press release. “It enables Sports.com to leverage S&MI’s advanced platform and app, which will accelerate our growth and enhance our offerings. We look forward to appointing Marc Bircham to the board of S&MI upon completion of the acquisition. Marc’s deep expertise in football and his passion for sports will be invaluable as we expand the Sports.com platform and solidify our position as a leader in digital sports entertainment. Sports.com has enormous potential, and the team is focused on expanding our reach and acquiring top-tier content.”
To view the full press release, visit https://ibn.fm/cx2gL
About Lottery.com Inc.
Lottery.com, Inc. is a leading technology company that is transforming how, where and when lotteries are played. Its engaging mobile and online platforms enable players and commercial partners located throughout the United States and internationally to remotely purchase legally sanctioned lottery games. Fans and subscribers look to the Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, through WinTogether.org, Lottery.com is fundamentally changing how nonprofit donors are incentivized to action by gamifying charitable giving. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. To learn more about the company, visit www.Lottery.com.
NOTE TO INVESTORS: The latest news and updates relating to Lottery are available in the company’s newsroom at https://ibn.fm/Lottery
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