Lottery.com, Inc. (NASDAQ: LTRY, LTRYW), backed by funding provided
by UCIL, has entered into an agreement to acquire Nook Holdings
Limited (Nook), a pioneering force in the sports, fitness, and
wellness industry. Nook is known for its innovative approach to
co-working in Dubai and has procured 200 licenses for individuals
and companies in the sports sector seeking access to Dubai and the
broader Middle Eastern market. With its exclusive partnership with
the Dubai Multi-Commodities Centre Free Zone (DMCC), Nook offers a
wide range of services, including business setup support,
insurance, VAT registration, and networking opportunities for
like-minded sports entrepreneurs. As part of the acquisition, Nook
will be rebranded as Sports.com.
Sports.com: Transforming the
Future of Sports Entertainment
Sports.com is being developed as a dynamic sports entertainment
platform to meet the evolving demands of sports enthusiasts
worldwide. The platform expects to offer an array of services,
including live and on-demand sports streaming, data analytics,
e-gaming, education, ticketing, and merchandising.
The Sports.com platform is structured around six core
verticals:
- Streaming and video on demand;
- Best of sports catalogues and exclusive live events;
- Original content production, featuring acclaimed documentaries
and sports-themed feature films;
- E-sports and Metaverse development;
- Promotional, educational, and other services, including support
for sports events, clubs, teams, and academies.
- Support global health, fitness and wellness.
With a mission to become the world’s foremost hub for sports
entertainment, Sports.com aims to connect fans, athletes,
franchises, teams, rights owners, gaming providers, sponsors, and
advertisers in an immersive and engaging environment.
Nook by DUPLAYS: Empowering
Sports, Fitness, and Wellness Entrepreneurs
The collaboration between Nook and DMCC empowers entrepreneurs
in the sports, fitness, and wellness sector. ‘Nook by DUPLAYS’
offers a comprehensive solution to overcome the challenges faced by
startups and small to medium sized businesses. Nook provides its
clients the opportunity to:
- Own 100% of their sports business with a Dubai license and a
company bank account.
- Obtain essential insurance coverage, No Objection Certificates
(NOC), VAT registration, and business support.
- Apply for NOC permission to operate in mainland areas as a Free
Zone company.
- Work in an environment designed to support networking with
sports and wellness entrepreneurs.
- Activate businesses at on-site group studios, training and
event areas.
- Scale-up their relationship with Nook as their business
grows.
Commenting on the acquisition, Lottery.com Board
Chairman and Interim CEO Matthew McGahan stated:
"The strategic acquisition of Nook and its rebranding as
Sports.com marks the next phase of the Lottery.com journey. We
aim to establish Nook as a true sports incubator within the
Sports.com community, fostering growth for companies and
individuals alike by leveraging our extensive network to provide
tailored guidance for startups, connecting them with accomplished
entrepreneurs, forward-thinking organizations and visionary
investors. Our objective, built on a shared vision of catalyzing
business growth to shape the future of sports, health, and
entertainment, is to create a unique environment for sports-related
enterprises to flourish and we certainly intend to selectively
invest in individuals and businesses to achieve this goal."
“With the continued support of our shareholders, our financial
agility is enhanced and with that comes an acceleration of hitting
our ambitious targets for both Lottery.com and Sports.com."
Mr. McGahan further highlighted that with its acquisition of
Nook, Sports.com establishes a true physical presence in the Middle
East, demonstrating its passion and commitment for innovating
sports, health, and entertainment worldwide.
Ravi Bhusari, Founder of Nook added:
"As the founder of Nook, I am thrilled to embark on this
exciting journey with Lottery.com and the transformation of Nook
into Sports.com. Our mission has always been to empower sports,
fitness, and wellness entrepreneurs, and this partnership takes
that mission to a whole new level. Together, we will create a
dynamic sports entertainment platform that not only connects
enthusiasts but also fosters innovation and growth within the
sports industry. We look forward to shaping the future of sports,
health, and entertainment on a global scale."
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 other
countries to remotely purchase safe and legally sanctioned lottery
games. Lottery participants look to the Company’s website,
Lottery.com, for compelling, real-time results on over 800 lottery
games from over 40 countries. 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.
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 (the
“Securities Act”), and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”). All statements, other
than statements of present or historical fact included in this
press release, regarding the company’s future financial
performance, as well as the company’s strategy, future operations,
revenue guidance, projected costs, prospects, plans and objectives
of management are forward-looking statements. When used in this
press release, the words “could,” “should,” “will,” “may,”
“believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,”
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. Except as otherwise required by applicable law,
Lottery.com 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. Lottery.com 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 Lottery.com. In addition,
Lottery.com cautions you that the forward-looking statements
contained in this press release are subject to the following
factors: (i) the outcome of any legal proceedings that may be
instituted against Lottery.com; (ii) the Company’s ability to
maintain effective internal controls over financial reporting,
including the remediation of identified material weaknesses in
internal control over financial reporting relating to segregation
of duties with respect to, and access controls to, its financial
record keeping system, and its accounting staffing levels; (iii)
the effects of competition on Lottery.com’s future business; (iv)
risks related to its dependence on its intellectual property and
the risk that technology could have undetected defects or
errors; (v) changes in applicable laws or regulations; (vi) risks
related to the COVID-19 pandemic or other pandemic and their effect
directly on Lottery.com and the economy generally; (vii) risks
relating to privacy and data protection laws, privacy or data
breaches, or the loss of data; (viii) the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors; (ix) the ability of Lottery.com to
achieve its strategic and growth objectives as stated or at all;
and (x) those factors discussed in the proxy statement/prospectus
filed by Lottery.com, Inc. with the U.S. Securities and Exchange
Commission (“SEC”) under the heading “Risk Factors” and the other
documents filed, or to be filed, by the Company with the SEC.
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. Additional
information concerning these and other factors that may impact the
operations and projections discussed herein can be found in the
reports that Lottery.com 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.
CONTACT: ir@lottery.com
Lottery com (NASDAQ:LTRY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lottery com (NASDAQ:LTRY)
Historical Stock Chart
From Apr 2023 to Apr 2024