Lottery.com (the “Company”), a leading platform that allows users
to play the lottery online, has entered into a binding agreement to
acquire Mexican lottery companies JuegaLotto and Aganar to expand
its operations to Mexico and throughout Latin America. JuegaLotto
is federally licensed to sell international lottery games in Mexico
through an authorized federal gaming portal and is licensed for
games of chance in other countries throughout Latin America. Aganar
is licensed to sell Mexican National Lottery draw games, instant
win tickets, and other games of chance online with access to a
federally approved online casino and sportsbook gaming license. The
closing of the acquisitions is subject to standard closing
conditions.
Latin America’s estimated lottery market is approximately $9.8
billion ($9,800,000,000 USD) across 26 countries. The addressable
market in the countries that JuegaLotto and Aganar cover includes
652 million people and potential customers.
“These acquisitions will mean significant inroads for
Lottery.com throughout Mexico and Latin America as we expand our
international operations, expand our portfolio of products, and
expose our domestic products to new markets,” said Lottery.com CEO
Tony DiMatteo. “Their combined established presence and experience
in the gaming industry further enhances our vision of being the
premier global marketplace for games of chance.”
The deals highlight Lottery.com’s recent efforts to increase its
international expansion and presence, and the combined entities
have a federal license which allows them to provide official
Pronosticos National Lottery games throughout Mexico. Together they
have attracted 136,000 new players in the past 12 months.
Furthermore, these acquisitions represent the very early stages of
Lottery.com’s long term strategy to enter into additional
international markets, both through partnerships and M&A.
More information about JuegaLotto and Aganar can be found at
their respective websites, https://juegalotto.com/ and
https://aganar.com.mx/
“The combination of our experience, our products, and gaming
licenses in Mexico and Latin American in union with the impeccable
brand of Lottery.com is an obvious win and we are ecstatic to grow
together in the region,” said JuegaLotto CEO Luis Carlos Leal.
“Mexico, recently regulating this market, is among the most
important markets in Latin America and we are looking forward to
being a part of Lottery.com’s ongoing vision, international
expansion, and execution.”
“The focus on growth and bringing additional companies and
distribution partners into the fold is a key driver for
Lottery.com, and I am confident that our platform, and my
experience in the lottery industry, will accelerate this momentum
even further,” commented Nour-Dean Anakar, representative of
Aganar, with 25 years of experience leading the gaming industry
including as CEO and managing director Ladbrokes South America,
Hilton International Gaming Operations for South America, and CEO
of Digital Orchid, the first company in Mexico to establish online
and mobile regulated national lottery games.
On February 22, 2021, the Company entered into a definitive
agreement with Trident Acquisitions Corp. (Nasdaq: TDACU, TDAC,
TDACW) to become a publicly traded company on The Nasdaq Stock
Market. In anticipation of Lottery.com completing both of the
JuegaLotto and Aganar acquisitions before its business combination
with Trident, the business combination investor presentation was
delayed to allow the inclusion of these potential assets and was
filed by Trident today on a Current Report on Form 8-K with the
U.S. Securities and Exchange Commission (“SEC”) available publicly
on the SEC’s website at www.sec.gov and also posted to Trident’s
website.
About Lottery.com
Lottery.com is an Austin,
TX-based company enabling consumers to play state-sanctioned
lottery games from their home or on the go in the US and
internationally. The Company works closely with state regulators to
advance the lottery industry, providing increased revenues and
better regulatory capabilities, while capturing untapped market
share, including millennial players. Lottery.com is also gamifying
charitable giving to fundamentally change how nonprofits engage
with their donors and raise funds. Through their WinTogether.org
platform, they offer charitable donation sweepstakes to incentivize
donors to take action by offering once in a lifetime experiences
and large cash prizes.
Important Information and Where to Find it
In connection with the proposed business combination, Trident
Acquisitions Corp. (“Trident”), expects to file a registration
statement on Form S-4 (the “Registration Statement”) that will
include a preliminary proxy statement with the U.S. Securities and
Exchange Commission (“SEC”) for the solicitation of proxies from
Trident's shareholders. Additionally, Trident will file other
relevant materials with the SEC in connection with the proposed
business combination. Copies may be obtained free of charge at the
SEC's web site at www.sec.gov. A definitive proxy statement will be
mailed to Trident shareholders as of a record date to be
established for voting on the proposed business combination.
Investors and security holders of Trident are urged to read the
Registration Statement and the other relevant materials when they
become available before making any voting decision with respect to
the proposed business combination because they will contain
important information about the business combination and the
parties to the business combination. The information contained on,
or that may be accessed through, the websites referenced in this
press release is not incorporated by reference into, and is not a
part of, this press release.
Forward Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements, other than statements of
present or historical fact included in this press release,
regarding the proposed business combination between Trident and
Lottery.com, Trident and the Company’s ability to consummate the
transactions, the benefits of the transactions, the Company’s
estimated growth, operational and state expansion, and the combined
company’s future financial performance, as well as the combined
company’s strategy, future operations, estimated financial
position, estimated revenues and losses, 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, the Company 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. The Company 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 either Trident or the Company. In
addition, the Company cautions you that the forward-looking
statements contained in this press release are subject to the
following factors: (i) the occurrence of any event, change or other
circumstances that could delay the business combination or give
rise to the termination of the agreements related thereto; (ii) the
outcome of any legal proceedings that may be instituted against
Trident or the Company following announcement of the proposed
business combination; (iii) the inability to complete the business
combination due to the failure to obtain approval of the
stockholders of Trident, or other conditions to closing in the
business combination agreement; (iv) the risk that the proposed
business combination disrupts the Company’s current plans and
operations as a result of the announcement of the transactions; (v)
the Company’s ability to realize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition and the ability of the Company to grow and manage
growth profitably following the business combination; (vi) costs
related to the business combination; (vii) risks related to the
rollout of the Company’s business and the timing of expected
business milestones; (viii) the Company’s dependence on obtaining
and maintaining lottery retail licenses or consummating partnership
agreements in various markets; (ix) 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 the Company’s accounting staffing
levels; (x) the effects of competition on the Company’s future
business; (xi) risks related to the Company’s dependence on its
intellectual property and the risk that the Company’s technology
could have undetected defects or errors; (xii) changes in
applicable laws or regulations; (xiii) the COVID-19 pandemic and
its effect on the Company and the economy generally; (xiv) risks
related to disruption of management time from ongoing business
operations due to the proposed business combination; (xv) risks
relating to privacy and data protection laws, privacy or data
breaches, or the loss of data; and (xvi) the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors. 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 Trident has filed and will
file from time to time with the SEC, including its Annual Report on
Form 10-K for the fiscal year ended December 31, 2019. Trident’s
SEC filings are available publicly on the SEC’s website at
www.sec.gov.
Participants in the Solicitation
Trident and its directors and officers may be deemed
participants in the solicitation of proxies of Trident's
shareholders in connection with the proposed business combination.
Lottery.com and its officers and directors may also be deemed
participants in such solicitation. Security holders may obtain more
detailed information regarding the names, affiliations and
interests of certain of Trident's executive officers and directors
in the solicitation by reading Trident's Annual Report on Form 10-K
for the fiscal year ended December 31, 2019, and the Proxy
Statement and other relevant materials filed with the SEC in
connection with the business combination when they become
available. Information concerning the interests of Trident's
participants in the solicitation, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the proxy statement relating to the business combination
when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or constitute a
solicitation of any vote or approval.
Lottery.com Contact:
Cody Billingsley
(512) 537-5713
cody@lottery.com
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