Nasdaq:LTRY
Lottery.com Announces Strong First Quarter Results
First quarter 2022 revenue of $21.2 million, up $15.7 million from the prior-year period
First quarter 2022 gross profit of $18.0 million, up $15.5 million from the prior-year period
First quarter 2022 net loss of $15.8 million, Adjusted EBITDA of $7.7 million1
AUSTIN, Texas, May 16, 2022 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company that is transforming how, where and when the lottery is played, reported financial results for the first quarter ended March 31, 2022.
Tony DiMatteo, Lottery.com Co-Founder and CEO, commented, “I’m pleased with our first quarter results and the team’s continued focus on our core business and generating strong Adjusted EBITDA. Once again, LotteryLink has demonstrated its ability to contribute to our top and bottom line growth and expand our user base with limited advertising spend. In our B2C business, our focus on market testing and securing permission to advertise on large digital media platforms has solidified our foundation to launch accretive user acquisition campaigns over the balance of the year.”
Mr. DiMatteo continued, “So far in the second quarter, our B2C campaigns have been positive with solid increases in app downloads versus the prior year period while achieving relatively low customer acquisition costs. LotteryLink’s promotional programs have generated new users and created interest from additional national consumer brands looking to utilize LotteryLink for their marketing campaigns. Additionally, we have launched Phase 1 of Project Nexus. We believe that these positive developments, combined with our strong balance sheet, position us well for future growth.”
First Quarter 2022 Financial Highlights
| Q1 2022 Financial Highlights | Three Months Ended | |||||||||||||
| March 31, | ||||||||||||||
| 2022 | 2021 | Change | ||||||||||||
| (in millions) | ||||||||||||||
| Revenues | $ | 21.2 | $ | 5.5 | $ | 15.7 | ||||||||
| Gross profit | $ | 18.0 | $ | 2.5 | $ | 15.5 | ||||||||
| Net Loss | $ | (15.8 | ) | $ | (5.5 | ) | $ | (10.3 | ) | |||||
| Adjusted EBITDA | $ | 7.7 | $ | (2.6 | ) | $ | 10.3 | |||||||
| Cash | $ | 50.8 | $ | 18.3 | $ | 32.5 | ||||||||
| Debt | $ | 3.5 | $ | 41.5 | $ | (38.0 | ) | |||||||
1 – Adjusted EBITDA is a financial measure that is not calculated in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”). See “Non-GAAP Financial Measures” below for a discussion of the definition of Adjusted EBITDA and “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of this measure to net loss.
First quarter 2022 revenue was $21.2 million, an increase of $15.7 million, or 287%, from the first quarter of 2021. The growth was primarily driven by the sale of LotteryLink credits to a LotteryLink affiliate, primarily to acquire pre-paid promotional rewards that may be issued by such affiliate to consumers for their purchase of lottery games and services from Lottery.com upon activation of an account.
First quarter 2022 gross profit was $18.0 million, an increase of $15.5 million from the first quarter of 2021. The increase was primarily driven by the sale of LotteryLink credits to the above referenced LotteryLink affiliate. As a result of the delayed launch of such affiliate’s promotional program, most of the pre-paid promotional rewards expired without being issued to consumers. As a result, the Company did not incur costs associated with redemption of most of such LotteryLink credits.
First quarter 2022 net loss was $15.8 million compared to a net loss of $5.5 million in the first quarter of 2021. The increase was primarily driven by the incurrence of $22.2 million of non-cash stock compensation expense and other increased personnel costs, which were offset by the strong gross profit described above.
First quarter 2022 Adjusted EBITDA was $7.7 million, an increase of $10.3 million from the first quarter of 2021. The increase was driven by the strong gross profit described above, partially offset by increased public company expenses and higher expenses associated with the execution of growth initiatives.
Cash as of March 31, 2022, was $50.8 million, an increase of $32.5 million from March 31, 2021, driven primarily by proceeds from the business combination with Trident Acquisition Corp. in October 2021, and strong operating results, partially offset by an increase in working capital.
Debt as of March 31, 2022, was $3.5 million, a decrease of $38.0 million from March 31, 2021, driven primarily by the conversion of the Company’s convertible debt into equity, in conjunction with the business combination.
Update on Key Initiatives
- B2C User Growth
- Expanded B2C marketing campaigns have launched in Q2 2022 and resulted in solid increases in app downloads versus the prior year period
- Achieved customer acquisition costs in-line with expectations to date in Q2 2022
- LotteryLink and B2B
- Added new LotteryLink affiliates since the beginning of the year, including the conversion of data service customers
- Continued to develop pipeline of new LotteryLink master affiliates and their sub-affiliates, including national consumer brands
- Project Nexus
- Launched Phase 1 in Q2 2022, which is expected to improve scalability, security and ability to implement product improvements
- New Markets
- Remain on track for approval to enter into five new domestic jurisdictions by the end of 2022
Upcoming Conference Participation
Representatives from the Company plan to attend the following upcoming investor conferences:
- B Riley FBR 22nd Annual Institutional Investor Conference on May 26, 2022, in Beverly Hills, CA
- Cowen’s 50th Annual Technology, Media & Telecom Conference on June 1, 2022, in New York City
Conference Call
This morning at 8:30 AM ET, the Company will host a conference call to discuss its first quarter 2022 results. A live webcast of the conference call will be available on the Investor Relations section of the Lottery.com website at https://ir.lottery.com. For those who cannot listen to the live webcast, a replay of the conference call will be available on the Lottery.com Investor Relations website.
To join by telephone, please dial 877-313-2495 or 929-517-0906 if calling from outside the U.S. The conference code is 9189693. Please dial in a minimum of 15 minutes prior to the start time to ensure a timely connection to the call. An operator will register your name and organization.
About Lottery.com
Lottery.com is a leading technology company that is transforming how, where and when lottery is played. Its engaging mobile and online platforms enable players located in the United States and internationally to remotely purchase legally sanctioned lottery games. Fans and subscribers look to Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, commercial partners and affiliates can utilize LotteryLink to provide Lottery.com products to their customers. Through WinTogether.org, Lottery.com is fundamentally changing how non-profit donors are incentivized to action by gamifying charitable giving. 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. For more information, visit http://www.lottery.com.
Non-GAAP Financial Measures
This press release includes EBITDA and Adjusted EBITDA, which are non-GAAP performance measures that we use to supplement our results presented in accordance with U.S. GAAP. We believe EBITDA and Adjusted EBITDA are useful in evaluating our operating performance, similar to measures reported by our peers, and regularly used by analysts, investors and other interested parties in analyzing operating performance and prospects. EBITDA and Adjusted EBITDA are not intended to be substitutes for any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.
We define and calculate EBITDA as net income or loss before the impact of interest income or expense, income tax expense or benefit, depreciation and amortization, and Adjusted EBITDA as EBITDA, as further adjusted for stock-based compensation and certain other non-recurring, non-cash or non-core items.
We include these non-GAAP financial measures because they are used by management to evaluate our core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. The financial statement tables that accompany this press release include a reconciliation of EBITDA and Adjusted EBITDA to their most comparable U.S. GAAP financial measures.
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 Lottery.com’s strategy, future operations, 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,” “initiatives,” “continue,” 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. The forward-looking statements speak only as of the date of this press release or as of the date they are made. 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 risks and uncertainties: our inability to compete with other forms of entertainment for consumers’ discretionary time and income; economic downturns, inflation, geopolitical and political and market conditions beyond our control; negative events or media coverage relating to the lottery, lottery games or online gaming or betting; our inability to attract and retain users, including as a result of failing to appear in Internet search engine results; our continued ability to use domain names to promote and increase the value of our brand; adverse impacts relating to the spread of, and governmental responses taken with respect to, health epidemics such as the COVID-19; scrutiny by stakeholders with respect to responsible gaming and ethical conduct; our ability to achieve profitability and growth in the newly-developed market for online lottery games; our inability to profitably expand into new markets or capitalize on new gaming and lottery industry trends and changes, such as by developing successful new product offerings; the effectiveness of our marketing efforts in developing and maintaining our brand and reputation; failure to offer high-quality user support; adverse impacts to user relationships resulting from disruptions to our information technology; the vulnerability of our information systems to cyberattacks and disruptions caused with respect thereto, including an inability to securely maintain personal and other proprietary user information; our inability to adapt to changes or updates in the Internet, mobile or personal devices, or new technology platforms or network infrastructures; the exposure of our online infrastructure to risks relating to new and untested distributed ledger technology; our inability to comply with complex, ever-changing and multi-jurisdictional regulatory regimes and other legal requirements applicable to the gaming and lottery industries; geopolitical shifts and changes in applicable laws or regulations or the manner in which they are interpreted; our inability to successfully expand geographically and acquire and integrate new operations; our dependence on third-party service providers to timely perform services or software component products for our gaming platforms, product offerings and the processing of user payments and withdrawals; our inability to maintain successful relationships and/or agreements with lottery organizations and other third-party marketing or service provider affiliates; failure of third-party service providers to protect, enforce, or defend intellectual property rights required to fulfill contractual obligations required for the operation of our business; the effectiveness of our transition and compliance with the regulatory and other requirements of being a public company; operational risks including those arising from factors impacting the international supply chain; limited liquidity and trading of our securities; and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K filed by Lottery.com with the SEC on April 1, 2022, and the other documents filed, or to be filed, by Lottery.com 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.
| Lottery.com Inc. | |||||||||
| Condensed Consolidated Statements of Operations | |||||||||
| Three Months Ended March 31, 2022 and 2021 | |||||||||
| Three Months Ended March 31, | |||||||||
| 2022 | 2021 | ||||||||
| Revenue | $ | 21,150,892 | $ | 5,461,539 | |||||
| Cost of revenue | 3,165,469 | 2,946,981 | |||||||
| Gross profit | 17,985,423 | 2,514,558 | |||||||
| Operating expenses: | |||||||||
| Personnel costs | 25,975,863 | 1,095,793 | |||||||
| Professional fees | 3,055,039 | 2,415,198 | |||||||
| General and administrative | 3,399,896 | 1,388,574 | |||||||
| Depreciation and amortization | 1,373,925 | 367,259 | |||||||
| Total operating expenses | 33,804,723 | 5,266,824 | |||||||
| Loss from operations | (15,819,300 | ) | $ | (2,752,266 | ) | ||||
| Other expenses | |||||||||
| Interest (income) expense | (953 | ) | 2,472,048 | ||||||
| Other (income) expense | (2,436 | ) | 231,720 | ||||||
| Total other expenses, net | (3,389 | ) | 2,703,768 | ||||||
| Net loss before income tax | $ | (15,815,911 | ) | $ | (5,456,034 | ) | |||
| Income tax expense (benefit) | – | ||||||||
| Net loss | (15,815,911 | ) | (5,456,034 | ) | |||||
| Other comprehensive loss | |||||||||
| Foreign currency translation adjustment, net | (1,064 | ) | – | ||||||
| Comprehensive loss | (15,816,975 | ) | (5,456,034 | ) | |||||
| Net income attributable to noncontrolling interest | 129,222 | – | |||||||
| Net loss attributable to Lottery.com Inc. | (15,687,753 | ) | (5,456,034 | ) | |||||
| Net loss per common share | |||||||||
| Basic and diluted | $ | (0.33 | ) | $ | (0.24 | ) | |||
| Weighted average common shares outstanding | |||||||||
| Basic and diluted | 46,832,919 | 22,888,700 | |||||||
| Lottery.com Inc | ||||||||
| Condensed Consolidated Balance Sheet | ||||||||
| Unaudited | ||||||||
| March 31, | December 31, | |||||||
| ASSETS | 2022 | 2021 | ||||||
| (Unaudited) | ||||||||
| Current assets: | ||||||||
| Cash | $ | 50,795,889 | $ | 62,638,970 | ||||
| Accounts receivable | 35,796,548 | 21,696,653 | ||||||
| Prepaid expenses | 12,843,029 | 13,896,638 | ||||||
| Other current assets | 246,599 | 226,200 | ||||||
| Total current assets | 99,682,065 | 98,458,461 | ||||||
| Notes receivable | 6,500,000 | – | ||||||
| Investments | 250,000 | 250,000 | ||||||
| Goodwill | 19,590,758 | 19,590,758 | ||||||
| Intangible assets, net | 28,500,219 | 28,710,980 | ||||||
| Property and equipment, net | 121,293 | 141,279 | ||||||
| Total assets | $ | 154,644,335 | $ | 147,151,478 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Trade payables | $ | 2,559,846 | $ | 1,006,535 | ||||
| Deferred revenue | 544,643 | 662,335 | ||||||
| Notes payable – current | 3,477,339 | 3,771,340 | ||||||
| Accrued interest | 180,281 | 176,260 | ||||||
| Accrued and other expenses | 4,081,672 | 4,528,815 | ||||||
| Total current liabilities | 10,843,781 | 10,145,285 | ||||||
| Long-term liabilities: | ||||||||
| Other long term liabilities | 1,522 | 1,169 | ||||||
| Total long-term liabilities | 1,522 | 1,169 | ||||||
| Total liabilities | 10,845,303 | 10,146,454 | ||||||
| Commitments and contingencies | ||||||||
| Equity | ||||||||
| Controlling Interest | ||||||||
| Preferred Stock, par value $0.001, 1,000,000 shares authorized, none issued and outstanding | – | – | ||||||
| Common stock, par value $0.001, 500,000,000 shares authorized, 46,928,367 and 46,808,251 issued and outstanding as of March 31, 2022 and December 31, 2021, respectively | 46,928 | 46,808 | ||||||
| Additional paid-in capital | 263,022,161 | 240,411,298 | ||||||
| Accumulated other comprehensive loss | (1,719 | ) | (655 | ) | ||||
| Accumulated deficit | (121,919,207 | ) | (106,232,518 | ) | ||||
| Total Lottery.com Inc. stockholders’ equity | 141,148,163 | 134,224,933 | ||||||
| Noncontrolling interest | 2,650,869 | 2,780,091 | ||||||
| Total Equity | 143,799,032 | 137,005,024 | ||||||
| Total liabilities and stockholders’ equity | $ | 154,644,335 | $ | 147,151,478 | ||||
| Lottery.com Inc. | ||||||||
| Consolidated Statements of Cash Flows | ||||||||
| Three Months Ended March 31, 2022 and 2021 | ||||||||
| For the three months ended | ||||||||
| March 31, | ||||||||
| 2022 | 2021 | |||||||
| Cash flow from operating activities | ||||||||
| Net loss attributable to Lottery.com Inc. | $ | (15,686,689 | ) | $ | (5,456,034 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Net income attributable to noncontrolling interest | (129,222 | ) | – | |||||
| Depreciation and amortization | 1,373,925 | 367,259 | ||||||
| Non-cash interest expense | – | 1,841,807 | ||||||
| Stock-based compensation expense | 22,174,488 | 2,160 | ||||||
| Changes in assets & liabilities: | ||||||||
| Accounts receivable | (14,099,895 | ) | – | |||||
| Prepaid expenses | 1,053,609 | 894,872 | ||||||
| Other current assets | (20,399 | ) | (54,853 | ) | ||||
| Trade payables | 1,553,311 | (354,736 | ) | |||||
| Deferred revenue | (117,692 | ) | (2,039,113 | ) | ||||
| Accrued interest | 4,021 | (605,961 | ) | |||||
| Accrued and other expenses | (10,648 | ) | 1,512,125 | |||||
| Other long term liabilities | 353 | – | ||||||
| Net cash provided by operating activities | (3,904,838 | ) | (3,892,474 | ) | ||||
| Cash flow from investing activities | ||||||||
| Purchases of property and equipment | (18,305 | ) | (57,452 | ) | ||||
| Purchases of intangible assets | (1,124,873 | ) | (3,050,000 | ) | ||||
| Net cash used in investing activities | (1,143,178 | ) | (3,107,452 | ) | ||||
| Cash flow from financing activities | ||||||||
| Issuance of digital securities | – | 108,332 | ||||||
| Proceeds from exercise of options and warrants | – | 895 | ||||||
| Proceeds from issuance of convertible debt | – | 19,282,619 | ||||||
| Issuance of notes receivable | (6,500,000 | ) | – | |||||
| Principal payments on debt | (294,001 | ) | (4,856,250 | ) | ||||
| Net cash provided by financing activities | (6,794,001 | ) | 14,535,596 | |||||
| Effect of exchange rate changes on cash | (1,064 | ) | – | |||||
| Net change in net cash and restricted cash | (11,843,081 | ) | 7,535,670 | |||||
| Cash and restricted cash at beginning of period | 62,638,970 | 10,775,511 | ||||||
| Cash and restricted cash at end of period | 50,795,889 | 18,311,181 | ||||||
| SUPPLEMENTAL DISCLOSURES: | ||||||||
| Interest paid in cash | $ | – | $ | 24,280 | ||||
| Taxes paid in cash | $ | – | $ | – | ||||
| Non cash investing and financing activities | ||||||||
| Stock-based compensation expense | $ | 194,695 | $ | – | ||||
| Issuance of warrants | $ | 241,800 | $ | – | ||||
| Conversion of convertible debt into common stock | $ | – | $ | 935,000 | ||||
| Purchase of intangible assets through the issuance of convertible debt | $ | – | $ | 15,450,000 | ||||
| Lottery.com Inc. | |||||||||||||||
| Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA | |||||||||||||||
| Three Months Ended | |||||||||||||||
| March 31, | |||||||||||||||
| 2022 | 2021 | Change | |||||||||||||
| (in millions) | |||||||||||||||
| Net income (loss) | $ | (15.8 | ) | $ | (5.5 | ) | $ | (10.4 | ) | ||||||
| Interest (income) expense | (0.0 | ) | 2.5 | (2.5 | ) | ||||||||||
| Income tax expense (benefit) | – | – | – | ||||||||||||
| Depreciation and amortization expenses | 1.4 | 0.4 | 1.0 | ||||||||||||
| EBITDA (non-GAAP) | (14.5 | ) | (2.6 | ) | (11.8 | ) | |||||||||
| Non-cash stock compensation expense | 22.2 | 0.0 | 22.2 | ||||||||||||
| Adjusted EBITDA (non-GAAP) | $ | 7.7 | $ | (2.6 | ) | $ | 10.3 | ||||||||
Lottery.com Contact:
Matthew Schlarb
VP, Investor Relations
(512) 585-7789
or
Jody Burfening/Harriet Fried
LHA Investor Relations
(212) 838-3777
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Nasdaq:LTRY
Lottery.com Enters Final Phase of Turnaround with $250M Growth Strategy, Strategic Acquisitions, and Shareholder Engagement
FORT WORTH, Texas, April 28, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW), a leading provider of digital lottery, sweepstakes, and sports entertainment technology, today announced that it is planning its first shareholder webinar in more than three years to be held in the coming weeks as part of its continued commitment to transparency, engagement and building trust. Chairman and CEO Matthew McGahan will also be issuing a formal communication to shareholders providing insight into the Company’s strategic progress and vision for growth.
These initiatives come as the Company nears the successful conclusion of a two-year corporate turnaround, which has positioned Lottery.com for long-term operational strength, strategic expansion, and shareholder value creation.
Matthew McGahan, Chairman and CEO of Lottery.com, commented:
“As we approach the final phase of this disciplined turnaround, now is the right time to directly engage with our shareholders, share our roadmap, and outline the exciting opportunities ahead. This journey has always been about rebuilding with integrity and ambition—and we’re ready to deliver.”
A Comprehensive Turnaround from the Top Down:
- Board and Governance: Complete overhaul of the Board of Directors, installing experienced leadership committed to transparency and growth. Additionally, the Company formed a strategic Advisory Board in February 2025, comprising industry leaders and experts guiding international expansion, responsible gaming, and technological innovation.
- C-Suite Rebuild: Restructuring of the executive team, with McGahan transitioning from Non-Executive Chairman to CEO and President of both Lottery.com and Sports.com. Additionally, the Company appointed Robert Stubblefield as its Chief Financial Officer and Gregory Potts as its Chief Operating Officer.
- Legal and Compliance Reset: Replacement of all prior legal counsel, with new representation including the recent engagement of recognized Crowell & Moring as the Company’s global counsel.
- Capital Markets and Strategic Funding: Appointment of Cohen & Company Capital Markets as investment banker, alongside securing $100 million from Generating Alpha Ltd. and $150 million from United Capital Investments London (UCIL). These facilities are being deployed strategically to drive shareholder value through cash-generative acquisitions; cutting-edge technology development and investment; resumption and expansion of gaming operations that drives revenues; and building balance sheet strength.
Strategic Use of Funding for Growth:
The Company emphasizes that capital secured through its funding facilities, including the recently filed S-1, will be strategically deployed to:
- Build or acquire state-of-the-art technology for Lottery.com and Sports.com, enabling immersive, live-streaming sports media and enhanced fan engagement.
- Close advanced stage, revenue generative acquisitions, designed to accelerate profits and deliver shareholder value.
- Strengthen the Company’s balance sheet and fund innovation across its digital lottery and sports entertainment platforms.
Legal Success and Stability:
Lottery.com has successfully defended more than a dozen legal cases, eliminating key litigation risks and solidifying the foundation for future growth.
Vision for 2025 and Beyond:
With the turnaround nearly complete, the Company is focused on increasing revenues through resuming gaming operations and monetizing Sports.com and completing certain acquisitions that will accelerate profitability and shareholder value.
Engaging with Shareholders:
As part of the Lottery.com’s continued commitment to transparency, shareholder engagement and building public trust, the Company plans the following:
- Webinar: The Company shall host a shareholder webinar in Q2.
- Shareholder Letter: A formal communication from Chairman and CEO Matthew McGahan to the Company’s shareholders will be issued in the coming weeks.
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, 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 Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” 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. The forward-looking statements speak only as of the date of this press release or as of the date they are made. 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 the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company 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. 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. 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.
This press release was published by a CLEAR® Verified individual.
CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected].
Company Ambassadors To Lead Executive Sessions
AMSTERDAM, April 25, 2025 (GLOBE NEWSWIRE) — Sports.com, the go-to platform for immersive sports content and fan engagement owned by Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), is proud to announce its role as Headline Event Partner for Soccerex Europe 2025, taking place from May 19–21 at the iconic Johan Cruyff Arena in Amsterdam. Widely regarded as the premier global football business event, Soccerex brings together the most influential figures in the sport — including club executives, federation leaders, former players, investors, rights holders, and cutting-edge companies — for three days of high-level networking, content, and deal-making. Sports.com is also the title sponsor for the three 2025 Soccerex events.
Representing Sports.com at this prestigious event will be:
- Marc Bircham, former QPR and Millwall star, now Director and Head of Sports Acquisitions at Sports.com;
- Tamer Hassan, internationally acclaimed Hollywood actor and Director at Lottery.com, known for The Football Factory and The Business;
- Dennis Wise, former Chelsea and England football legend and respected football executive and;
- Ant Middleton, ex-Elite Special Forces Commander, bestselling author, motivational speaker, and globally recognized TV personality from SAS: Who Dares Wins.
Engaging the Global Football Community
As part of their appearance at Soccerex Europe 2025, Bircham, Hassan, Wise, and Middleton will host exclusive sessions, offering attendees insights into:
- The global soccer industry;
- Elite performance and leadership, and;
- Sports.com’s vision for the future of digital fan engagement.
The Sports.com sessions are a complement to an engaging agenda which includes:
- Keynote sessions, curated panels, exhibitions, and tech showcases;
- Participation from FIFA, LaLiga, Ajax, Brighton, and Club Brugge executives, and;
- A VIP night on May 19th featuring legends Ronald de Boer, Sebastian Bassong, Mikael Silvestre, and Adebayo Akinfenwa, on Ajax’s first-team pitch.
Marc Bircham, Director and Head of Sports Acquisitions at Sports.com stated,
“We are thrilled to be the Headline Event Partner of such a prestigious and globally respected event. Soccerex is more than a conference — it’s a meeting point for the people and ideas shaping the future of football. As we continue to grow Sports.com into a global leader in sports content and digital fan experience, this partnership aligns perfectly with our vision. We are also working closely with Soccerex to explore strategic opportunities, including the acquisition of a leading UK football club, as part of our broader commitment to deepen our investment in the sport.”
Patrick McCreanor, CEO of Soccerex commented on the Sports.com partnership,
“We’re thrilled to have Sports.com on board as Headline Event Partner for Soccerex Europe 2025. Their commitment to innovation in digital sports media and fan engagement makes them an ideal partner for an event that’s all about driving football forward. With Sports.com’s involvement, we’re adding another layer of energy, creativity, and global perspective to what’s set to be an unforgettable few days in Amsterdam.”
Sports.com is offering an exclusive 20% discount for attendees. Use code JERRY20 at checkout. Tickets for Soccerex Europe 2025 are now limited but can be purchased via:
https://soccerexeurope2025.eventify.io/t2/tickets/?promo=EARLYBIRD
About Sports.com
Sports.com is a premier digital sports platform delivering cutting-edge content, fan engagement, and technological innovation in the sports industry. Dedicated to growing the global soccer ecosystem, Sports.com partners with leading organizations and influencers to create unparalleled experiences for fans and professionals alike.
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, 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 Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” 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. The forward-looking statements speak only as of the date of this press release or as of the date they are made. 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 the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company 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. 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. 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.
This press release was published by a CLEAR® Verified individual.
CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected].
$100 Million Committed Stock Purchase Agreement to Fuel Strategic Turnaround and Expansion
FORT WORTH, Texas, April 25, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY), a leading technology company a leading technology company in digital lottery, charitable sweepstakes and sports entertainment, today announced the filing of an amended registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”). The filing is related to the registration of shares issuable under a $100 million committed stock purchase agreement (“SPA”) with Generating Alpha Ltd., along with audited financial statements for the fiscal year ended December 31, 2024.
Under the SPA with Generating Alpha, signed in November 2024, Lottery.com has the right—but not the obligation—to draw down up to $100 million in capital through the sale of common stock. This committed funding provides the Company with strategic flexibility to support its operational relaunch, revenue growth, and rapid expansion into the digital entertainment media sector.
Strategic Highlights from the S-1 Filing:
- Operational Relaunch: Lottery.com is preparing to resume its core domestic lottery operations, has restarted sweepstakes, and initiated international lottery revenue programs to support its existing business in Mexico and expand to Africa, Asia, and Europe.
- Growth in Digital Sports and Entertainment Media: Through its Sports.com platform, the Company is targeting the rapidly growing $2.4 trillion global streaming and sports content market, with plans for original content production and immersive fan engagement.
- Flexible Capital Access: The $100 million SPA with Generating Alpha allow the Company to control its capital deployment, enabling it to scale without immediate dilution pressures.
- Premium Digital Assets: Lottery.com and Sports.com represent high-value domain IP. The strength of those brand names is key to the Company’s brand positioning and competitive advantage in the digital entertainment landscape.
- NASDAQ and SEC Compliance: The Company remains in full compliance with Nasdaq’s continued listing requirements and SEC regulations, reinforcing its stability as it repositions for growth.
Matthew McGahan, Chairman and CEO of Lottery.com, commented:
“With the flexibility of our $100 million committed capital facility and a clear roadmap for operational resurgence, revenue growth, and digital media expansion, Lottery.com is poised to capitalize on emerging opportunities in both the lottery and sports entertainment sectors. Access to this type of funding will allow us to progress to our aggressive buy-and-build strategy and complete our pipeline of strategic acquisitions across Lottery.com and Sports.com in the immediate future. Our re-entry into the market is backed by strategic vision, high-value digital assets and the financial agility to scale—creating far stronger shareholder value.”
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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, 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 Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” 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. The forward-looking statements speak only as of the date of this press release or as of the date they are made. 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 the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2024, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company 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. 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. 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.
This press release was published by a CLEAR® Verified individual.
CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected].
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