Lottery.com appoints Tim Scoffham to lead international divisions

FORT WORTH, Texas - Lottery.com Inc. (NASDAQ:LTRY), whose stock has surged over 200% in the past six months according to InvestingPro data, has named Tim Scoffham as Chief Executive Officer of Sports.com Media Group Limited and Lottery.com International Limited, effective immediately, according to a press release statement issued Tuesday.

Scoffham, who has been consulting with the company since May 2024, brings over 20 years of leadership experience in gaming, media, and entertainment sectors. He will oversee the strategic integration and international expansion of both divisions.

In his new role, Scoffham will focus on aligning commercial, media, and technology platforms, strengthening regulatory partnerships, and developing revenue opportunities in high-growth markets.

Matthew McGahan, CEO and Chairman of Lottery.com, described Scoffham as bringing "energy, credibility, and international expertise" to the position.

"With outstanding teams already in place and a unified international strategy underway, I’m looking forward to accelerating growth, strengthening partnership, and delivering long-term value to Lottery.com shareholders," Scoffham stated in the announcement.

Sports.com Media Group Limited is described as a digital platform delivering sports content and fan experiences, while Lottery.com International Limited provides an iGaming and global lottery platform enabling users to participate in international lottery games through digital channels.

Both entities are wholly-owned subsidiaries of Lottery.com Inc., which operates a portfolio of brands including Sports.com, Tinbu, and WinTogether in the gaming, entertainment, and sports sectors. With a market capitalization of approximately $32 million and operating as a niche player in its industry, InvestingPro analysis suggests the stock is currently trading above its Fair Value.

In other recent news, Lottery.com Inc. has entered into a significant stock purchase agreement with Generating Alpha Ltd., allowing the latter to purchase up to $300 million of Lottery.com’s common stock. This agreement includes provisions for share purchases at 94% of the average volume-weighted price over the preceding five days. Additionally, Lottery.com has regained compliance with Nasdaq’s minimum bid price requirement, having maintained a stock price above $1.00 for twenty consecutive business days. The company also announced plans to acquire 90% of Nook Holdings Limited, a Dubai-based sports incubator, for approximately $2.5 million. This acquisition is expected to close by June 30, 2025, and aims to expand Lottery.com’s presence in the sports and wellness sectors. In a strategic move, Tamer Hassan has been appointed as president of Sports.com Studios, a new division of Lottery.com focused on sports-related content. This appointment is part of Lottery.com’s broader efforts to address financial and regulatory challenges. These developments highlight Lottery.com’s ongoing strategic initiatives and expansion efforts.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.