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 (Nasdaq: LTRY, LTRYW) will participate in the Jefferies Sports Betting and iGaming Summit on December 2, 2021, with Co-Founder and CEO Tony DiMatteo leading a fireside chat at 4:00 p.m. Eastern Time. The event provides a platform for discussing the company's innovative lottery technology and community initiatives. Interested participants can access the live webcast and its replay for 30 days here.
Lottery.com announced a video by CEO Tony DiMatteo discussing the company's Global Affiliate Marketing Program and growth initiatives. This program aims to create multiple revenue streams and enhance the B2B2C user base, with expected sales growth into Q4 2021 and beyond. Lottery.com focuses on transforming lottery play through innovative technology, catering to players and partners both domestically and internationally, while also promoting charitable giving through its platform WinTogether.org.
In the third quarter of 2021, Lottery.com reported revenues of $32.2 million, a significant increase from $1.6 million a year prior. The net income rose to $11.2 million compared to a net loss of $1.2 million in Q3 2020, reflecting strong growth driven by a global affiliate marketing program. Gross profit reached $20.3 million, up from $0.9 million, aided by a dynamic pricing model. The company anticipates meeting its full-year 2021 revenue guidance of $71 million and focuses on expanding product offerings and user base following its recent business combination with Trident Acquisitions Corp.
Lottery.com (Nasdaq: LTRY) launches the Music4ClimateJustice campaign via its platform WinTogether.org to support global climate initiatives.
The campaign, starting November 4, 2021, offers five unique prizes to incentivize donations for climate justice, benefiting various non-profits. Artists like Akon and Bootsy Collins support this initiative, focusing on raising funds to assist communities affected by climate change.
Donations can lead to prizes like an eco-experience in Norway or a trip to Belize, continuing until March 20, 2022.
Lottery.com announces the development of Project Nexus, a platform aimed at enhancing security and transparency in lotteries and online gaming. This initiative involves partnerships with leading blockchain providers to integrate blockchain technology, improving game integrity and player trust. The platform will enable players to participate in proprietary international lottery games using fiat or crypto currencies, potentially leading to multi-billion dollar jackpots. The project also emphasizes social responsibility by allowing users to vote on charity allocations from winnings.
Lottery.com Inc. will begin trading on Nasdaq under the ticker symbol LTRY starting November 1, 2021, following its business combination with Trident Acquisitions Corp.. The merger was approved by Trident's stockholders on October 28, 2021, with 99.6% of Trident's outstanding stock retained, providing Lottery.com with gross proceeds exceeding $63 million. CEO Tony DiMatteo expressed optimism regarding future growth and access to capital through this transition. The newly formed entity aims to expand its customer base and enhance product offerings.
Lottery.com Inc. has successfully completed its business combination with Trident Acquisitions Corp., with the new company trading on Nasdaq under the ticker symbol LTRY starting November 1, 2021. The merger was approved by Trident's shareholders on October 28, 2021, and Lottery.com received gross proceeds exceeding $63 million, as 99.6% of Trident’s stockholders chose to retain their shares. The company plans to utilize this capital to enhance growth, improve customer acquisition, and expand its service offerings.
Trident Acquisitions Corp. announced that 99.6% of its stockholders retained their shares in a business combination with Lottery.com, leading to over $63 million in gross proceeds. This transaction is expected to close on October 29, 2021, with Lottery.com’s shares starting to trade on Nasdaq as LTRY on November 1, 2021. CEO Tony DiMatteo expressed gratitude for stockholder support and highlighted plans for expansion and strategic acquisitions in both domestic and international markets, aiming to disrupt the traditional lottery industry.
Lottery.com has reported preliminary revenue results for Q3 2021 between $22.0 million and $24.0 million, indicating a sequential growth of over 135% from $9.3 million in Q2 2021. For the first nine months of 2021, total revenues are expected to be between $36.8 million and $38.8 million, with pro forma figures suggesting a growth of over 270% compared to the entire 2020 fiscal year. The growth is attributed to increased sales in its B2B segment. A business combination with Trident Acquisitions is approaching completion, anticipated to further accelerate growth.
Lottery.com announced its business combination with Trident Acquisitions Corp. set for a shareholder vote on October 28, 2021. The SEC has declared effective the Registration Statement related to this merger. Upon completion, the new entity will trade on Nasdaq under the ticker LTRY. CEO Tony DiMatteo highlighted the company’s growth and optimistic future post-merger. Shareholders who wish to participate in the vote must be recorded by October 13, 2021. The definitive proxy statement has been filed and is being disseminated to shareholders.
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