Nasdaq:LTRY
Federal Court Dismisses All Claims Against Lottery.com Inc. and Matthew McGahan with Prejudice
FORT WORTH, Texas, Feb. 27, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company in digital lottery and sports entertainment, is pleased to announce The United States District Court for the Southern District of Florida has ruled in favor of the Company and Matthew McGahan (“Defendants”), granting with prejudice the Motion to Dismiss for Failure to State a Claim in the case styled Sharon A. McTurk, et al. v. Lottery.com, Inc. and Matthew McGahan (Case No. 24-60993-CIV-DAMIAN).
The lawsuit, filed by Sharon A. McTurk and her affiliated entities (Rutherford Enterprises, LLC, SJB Solutions, LLC and Astra Supply Chain, LLC, collectively “Plaintiffs”), alleged four causes of action against the Defendants:
- Fraudulent Misrepresentation (Count I);
- Negligent Misrepresentation (Count II);
- Aiding and Abetting (Count III); and
- Conspiracy (Count IV).
Plaintiffs claimed that McTurk was promised shares of the Company’s common stock at below market price in exchange for financial backing, however, after a comprehensive review, the Court found that the allegations failed to meet the most basic legal standards and could not proceed.
COURT DECISION
The court ordered and adjudged that:
- The Defendants’ Motion to Dismiss is granted;
- The Plaintiffs’ Complaint is dismissed with prejudice;
- All pending deadlines and hearings are terminated;
- All other pending motions are denied as moot; and
- The Clerk of the Court has been directed to close the case.
This ruling signifies the final dismissal of all claims against the Defendants. As the case was dismissed with prejudice, the Plaintiffs are barred from refiling the same claims in this form.
IMPACT OF THE RULING
The Court’s ruling underscored the lack of credible evidence presented by the Plaintiffs. The Court determined that the allegations did not meet the required legal threshold, thereby rejecting all claims brought against Lottery.com and Matthew McGahan.
The Company and Mr. McGahan have consistently denied the allegations. This dismissal allows both parties to move forward without any further legal considerations related to this matter.
Following the ruling, Matthew McGahan, Chairman and CEO of Lottery.com, expressed relief and optimism about the future:
“I am delighted with the honorable judge’s decision. The case required the Company to allocate financial resources and extraordinary amounts of time that would have been better spent on our turnaround efforts and operations. Many untruths were told in this story that caused immense stress for both me and my family. This ruling has vindicated me and the Company. I am happy that we can focus on building for the future and delivering value to our shareholders.”
CONCLUSION
The Court’s ruling underscores the necessity of credible evidence in legal disputes. By dismissing the case with prejudice, the Court has closed this matter, effectively bringing an end to the litigation.
For more information, please visit www.lottery.com or contact our media relations team at [email protected].
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 June 14, 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].
Nasdaq:LTRY
From Wall Street to the Pit Lane: Lottery.com and Sports.com Sponsor Rising INDY NXT Driver Sebastian Murray, Competing with Andretti Cape
Race Debut This Weekend at the Grand Prix of Alabama
FORT WORTH, Texas, May 02, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company in digital lottery and sports entertainment, announced a high-visibility sponsorship with rising motorsport talent Sebastian Murray, who competes in the 2025 INDY NXT by Firestone with the renowned Andretti Cape INDY NXT team.
Key Activation Highlights:
- Branding on rear wing (Lottery.com) and nose cone (Sports.com) of Murray’s No. 2 INDY NXT car
- Decals on the driver’s race suit for enhanced visibility
- Behind-the-scenes driver series “Rookie Road” produced by Sports.com Studios
- Social media activations across 13 remaining INDY NXT races
- Access to hospitality and networking opportunities available through Murray’s affiliation with Andretti Cape
The car will run this weekend with its new look featuring Lottery.com and Sports.com branding at the Grand Prix of Alabama, taking place May 2–4 in Birmingham, Alabama. Sebastian Murray will be driving the branded No. 2 Andretti Cape INDY NXT car featuring full Lottery.com and Sports.com sponsorship beginning this weekend and continuing through the rest of the season.
The sponsorship centers on Murray, one of the sport’s most exciting young drivers, and includes branding rights, digital content, and fan engagement activations made possible through his participation with Andretti Cape.
The sponsorship was introduced by Warren Macal, Founder of Prosperity Investment Management and a board member at Lottery.com.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, commented:
“Sebastian Murray is a standout talent, and this sponsorship places Lottery.com and Sports.com right alongside his journey to the top of U.S. open-wheel racing. We’re investing in speed, story, and a new generation of fans.”
Sebastian Murray added:
“It is a huge honor to carry the Lottery.com and Sports.com brands. The support from Matthew, Warren, and the entire team fuels my drive to deliver on and off the track.”
“This relationship reflects Lottery.com’s strategic vision,” added Warren Macal, Founder of Prosperity and Director at Lottery.com. “Sebastian is a driver with enormous potential, and our brands will benefit from the visibility and access that comes with competing in the Andretti Cape environment.”
This announcement follows the launch of the Company’s sponsorship of Donate to Win’s™ Miami Sweepstakes, offering exclusive hospitality at the Miami Grand Prix this past weekend — part of a broader campaign to engage fans and elevate brand exposure.
About Lottery.com
Lottery.com is transforming how official lottery and sweepstakes games are played across the globe, combining cutting-edge technology with consumer-first innovation.
About Sports.com
Sports.com is a premier digital sports platform dedicated to delivering cutting-edge content, fan engagement and technological innovation in the sports industry. With a commitment to growing the global soccer and motorsports ecosystems, 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c7e1738a-0840-4b4e-b7a8-94ae22ea1494
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].
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].
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