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.
Lottery.com, Inc. (NASDAQ: LTRY) is at the forefront of revolutionizing the lottery industry through its innovative and user-friendly platforms. The company enables users to purchase legally sanctioned lottery tickets both domestically and internationally via the Lottery.com app and website. This technology-driven approach ensures that lottery players never lose a ticket, never miss a jackpot, and can cash out anytime, all from the convenience of their mobile devices. Additionally, Lottery.com offers a business-to-business (B2B) API that allows commercial partners to integrate its lottery services into their own platforms.
Recent developments highlight Lottery.com’s strategic growth and diversification. The company has secured significant funding and announced a series of acquisitions aimed at expanding its footprint in the sports and wellness industries. Notably, Lottery.com acquired Nook Holdings Limited, a leading co-working space provider in Dubai known for its innovative approach to sports, fitness, and wellness. This acquisition will be rebranded as Sports.com, marking Lottery.com’s entry into the dynamic sports entertainment sector.
Sports.com is poised to become a premier sports entertainment platform, offering services ranging from live streaming and e-gaming to data analytics and merchandising. The initiative aims to connect fans, athletes, teams, and sponsors, creating an immersive and engaging sports ecosystem. With a physical presence in the Middle East, particularly in the Dubai Multi-Commodities Centre Free Zone, Sports.com is set to foster growth for sports-related startups and entrepreneurs.
On the financial front, Lottery.com has bolstered its stability and growth potential through new funding agreements, including a recent $18 million investment from Prosperity Investment Management. This capital injection will accelerate strategic acquisitions and market development initiatives for both Lottery.com and Sports.com brands.
The company’s strategic alliances also include a partnership with WA.Technology to enhance Lottery.com’s operations across Africa, the Pacific Region, Brazil, and other parts of Latin America. This alliance will leverage WA.Technology’s iGaming platform solutions to support Lottery.com’s global expansion.
Through its innovative platforms and strategic ventures, Lottery.com is not only reshaping the lottery experience but also pioneering new avenues in the sports and entertainment industries. The company remains committed to delivering responsible and trusted solutions while promoting community and philanthropic initiatives through platforms like WinTogether.org, which gamifies charitable giving.
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.
Lottery.com (Nasdaq: LTRY, LTRYW) has partnered with T-Mobile to become the exclusive digital lottery brand for in-vehicle advertising. This agreement allows Lottery.com to execute geo-targeted campaigns aimed at a captive audience in rideshare vehicles. T-Mobile's Marketing Solutions team will facilitate this initiative, enabling Lottery.com to expand its brand awareness and reach in jurisdictions where it offers services. Initial results indicate high engagement and conversion rates, supporting Lottery.com’s B2C growth strategy.
Lottery.com Inc. (Nasdaq: LTRY, LTRYW) has launched LotteryLink, a significant B2B affiliate marketing initiative aimed at expanding its brand reach. Funded by $30 million from a previous sale of advertising credits, the company initiated B2C marketing campaigns in December 2021 to attract new users through targeted digital ads. The CEO emphasized a focus on user growth and capital discipline, indicating a strategy to enhance profitability through strategic initiatives like LotteryLink.
Lottery.com (Nasdaq: LTRY, LTRYW) has announced the addition of four key hires to bolster its strategic growth initiatives. Key appointments include Amy Lawrence as Vice President of Compliance, Pedro De Ona as Vice President of Research and Development, Marielle Bianchino as Vice President of Marketing, and Jim Schonewolf as Vice President of Digital Media Sales. CEO Tony DiMatteo expressed confidence in the new leadership's ability to accelerate the company's growth strategy, particularly through targeted marketing and compliance efforts in new jurisdictions.
Lottery.com (Nasdaq: LTRY) announced that CEO and Co-Founder Tony DiMatteo will participate in a fireside chat at the ICR Virtual Conference 2022 on January 11, 2022, at 8:00 AM ET. This session will be hosted by Jason Tilchen, an Equity Research Analyst at Canaccord Genuity Group. A live webcast of the event will be available on Lottery.com’s Investor Relations website, with a replay accessible for 90 days. The ICR Conference is a significant event featuring over 300 companies, focusing on insights into growth strategies and investment trends.
Lottery.com Inc. (Nasdaq: LTRY, LTRYW) has appointed Greg Potts as the Global Vice President of Affiliate Success. With over 25 years of strategic marketing experience, Potts will spearhead the company’s B2B growth strategy and oversee its newly launched Global Affiliate Marketing Program. The company plans to launch targeted customer marketing campaigns before 2021 ends, focusing on paid social media and SEO, while maintaining customer acquisition costs at approximately $4 per user. Gross profit per transaction rose to $1.69 in Q3 2021, up from $0.93 the previous year.
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