Lottery.com in Final Stages of 2-Year Turnaround

FORT WORTH, Texas, April 23, 2025 (GLOBE NEWSWIRE) -- Lottery.com Inc. (NASDAQ:LTRY, LTRYW)) ("Lottery.com" or the "Company") today provides an update on its two-year transformation, marking a new era of financial strength, operational momentum, and strategic expansion. Backed by $250 million in committed funding, fully Nasdaq-compliant, and generating strong market engagement, the Company now embarks on an aggressive buy-and-build strategy aimed at positioning the Company for success in both domestic and international markets.

The April 2025 Annual General Meeting and Investors Lunch at Mar-a-Lago celebrated the close of Lottery.com's financial restructuring.

Key Achievements:

• $150 Million Commitment from United Capital Investments London (UCIL) – To fuel the next 24 months of global expansion.
• $100 Million Committed Stock Purchase Agreement with Generating Alpha – Fully accessible upon S-1 effectiveness, supporting acquisitions and technology scale-up.
• The launch of the Sports.com website and mobile app.
• Full Nasdaq Compliance – As of March 6, 2025, the Company had cured all deficiencies under Listing Rules 5450(a)(1) and 5450(b)(1)(C), positioning it accelerated growth.
• Spektrum Ltd. acquired to enhance our international technology capabilities. This was a strategic acquisition, embedding valuable intellectual property into the Company's core assets.
• Strategic deal with Orange, a multinational telecom powerhouse, to stream Sports.com content across Africa and the Middle East.
• The formation of Lottery.com International.

Record Market Confidence and Trading Performance

March 2025 saw more than one billion shares traded, with the stock price surging 816%, reflecting unprecedented investor confidence. This momentum follows Lottery.com's resolving multiple corporate matters – including Nasdaq compliance, SEC filings, and the closure of many legacy legal cases – the executive team is now fully focused on operational execution. The path is clear for robust revenue generation across the Company's core assets: Lottery.com and Sports.com, domestically and internationally.

Aggressive Buy-and-Build Strategy in Action

With a formidable leadership team and advisory board of industry captains, the Company is evaluating high-value partnerships and acquisitions across sports technology, live events, and gaming, aligned with its 12-month roadmap. This includes the launch of Sports.com Studios, set to deliver immersive live-streaming and original content, with a goal of building social media traction and fan engagement. As a content creation hub for the Company, the Sports.com Studios business model includes generating revenue through the production of monetizable media assets through third-party distribution, sponsorships, and exclusive events. Additionally, under this aggressive buy-and-build strategy, the Company has a robust pipeline of strategic acquisitions designed to augment and expand the Company's business operations. These strategic moves will be supported by the $250 million funding facilities from United Capital Investments London (UCIL) and Generating Alpha.

Strategic Partnerships and Global Influence

• Sports.com as Title Sponsor of Soccerex – with global events in Cairo, Amsterdam, and Miami.
• High-Profile Partnerships – Including major sports personalities and ambassadors driving global brand reach.

Matthew McGahan, Chairman and CEO of Lottery.com commented:

"Two years ago, we took on the challenge to rebuild Lottery.com into a world-class, professional, and dynamic enterprise. Today, that vision is reality. With $250 million in funding, Nasdaq compliance and aggressive growth plans, the exciting part of rebuilding this Company starts now. We are generating revenue, expanding fast and leading from the front in both lottery and sports entertainment. Our focus is on creating shareholder value."

New Leadership, New Vision

Since 2023, Lottery.com has undergone a comprehensive transformation with the appointment of a new C-suite, a fully restructured Board of Directors and the formation of a strategic Advisory Board. This formidable new leadership has "cleaned house," distancing the Company from legacy issues and successfully overcoming attempts by malicious actors who conspired against the Company in a vicious smear and short-selling campaigns. The Company has emerged victorious, stronger and more unified, ready to deliver on its ambitious growth strategy creating shareholder value measured by key financial metrics.

About Lottery.com Inc.

Lottery.com Inc. is a leading technology platform transforming how lottery games, sweepstakes, and sports content are played and experienced globally. Through proprietary platforms and strategic partnerships, the Company is expanding its digital reach and delivering innovative fan engagement experiences.

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.

For more information, please visit www.lottery.com or contact our media relations team at [email protected].