Lottery.com, Inc. Recommences Ticket Operations
April 25 2023 - 1:34PM
Lottery.com, Inc. (NASDAQ: LTRY, LTRYW) (“Lottery.com” or “the
Company”) announces that it has resumed ticket sales operations to
support its affiliate partners through its Texas retail network.
The company supplied more than seven million tickets for Texas
lottery games in its first week of operation.
The Company is also delighted to announce that it has signed an
exclusive affiliate agreement with International Gaming Alliance
(IGA), to supply official Texas lottery tickets in the Dominican
Republic. IGA has an established retail and online distribution
network in the Dominican Republic with access to more than 1,000
retail distribution points. As part of the agreement IGA has
facilitated integration of Lottery.com’s ticket management platform
into its partner’s EPOS systems. Lottery expects to begin supplying
tickets during May 2023, after completion of testing.
Mark Gustavson, CEO of Lottery.com said:
“We are making great progress as a company and it is testament
to the resilience of both our operational alacrity and our people
that we were able to fulfill this order in such a short time frame,
after almost nine months of shut down. We are now up and running
again and able to supply tickets. Our production capacity through
our retail partner network has tripled; and all machines
and personnel capacity has been ramped up to supply our
customers. These will include our new agreement with IGA in the
Dominican Republic and we hope to announce further deals in due
course.
He added: “Since my arrival, regaining
compliance with the Nasdaq Listing Rules has been an absolute
priority. In this regard, the new management team is working with
our auditors and other advisers to substantially improve our
disclosure and reporting controls, as well as implementing an
overhaul of our systems of internal control. Our business
turnaround is working to plan and we optimistic about the future
prospects for the business.”
Erick Caceres, Managing Partner for Dominican Republic
Operations added:
“We are thrilled to partner with Lottery.com, Inc. to bring
official Texas lottery tickets to the Dominican Republic. This
partnership will provide an exciting opportunity for lottery
enthusiasts in the Dominican Republic to participate in one of the
most popular lottery games in the United States, and we look
forward to delivering a seamless and secure experience through our
partner retailers such as the Domloteria app and other authorized
retail outlets.”
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. 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.
For more information contact: ir@lottery.com, or visit: http://www.lottery.com and Sports.com Twitter
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