Lottery.com expands to international markets

FORT WORTH, Texas - Lottery.com Inc. (NASDAQ:LTRY, LTRYW), a technology company specializing in digital lottery and sports entertainment with a market capitalization of $5.78 million, announced the launch of its international lottery operations, targeting a global customer base. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics, despite showing significant revenue growth of 190.77% in the last twelve months. The company aims to commence operations in various international markets, including Europe and Africa, and expects to generate new revenue by the end of March.

The expansion involves a technology platform tailored to provide a secure and engaging experience for international audiences. Lottery.com has also established partnerships with marketing and affiliate partners within the gaming space, which are expected to support rapid customer acquisition and market share growth in the targeted regions. InvestingPro data reveals that the company faces some financial challenges, with a current ratio of 0.67 indicating potential liquidity concerns. InvestingPro subscribers have access to 13 additional key insights about LTRY’s financial health and market position.

Matthew McGahan, Chairman of Lottery.com, stated, "We are entering an exciting new chapter for Lottery.com. By investing in augmenting our technology, refreshing our brand for international markets and forming strong partnerships, we are laying the foundation for sustained success in international markets.”

The company’s strategy includes partnering with local players to cater to regional preferences and adhere to regulatory requirements, aiming to redefine the lottery experience for customers worldwide. The announcement also indicates that following the international launch, Lottery.com plans to relaunch its brand domestically and introduce Sports.com to new markets, including the US.

This news follows a two-year turnaround effort for Lottery.com, with the team expressing confidence in generating revenue from international lottery operations by the end of March and a clear focus on delivering long-term shareholder value.

While the press release contains forward-looking statements, and the company has expressed optimism about its future performance and strategic plans, actual results may differ due to various risks and uncertainties. These include potential legal proceedings, maintaining effective internal controls, competition, technological defects or errors, changes in laws or regulations, and the effects of the COVID-19 pandemic, among other factors. InvestingPro analysis highlights the stock’s high volatility and weak financial health scores, crucial factors for investors to consider. Gain deeper insights into LTRY’s risk profile and growth potential with an InvestingPro subscription.

The information in this article is based on a press release statement from Lottery.com Inc.

In other recent news, Lottery.com, a provider of prepackaged software services, faced potential delisting from Nasdaq due to non-compliance with listing rules. The company failed to hold an annual meeting of shareholders for the fiscal year 2023 within the required timeframe, violating Nasdaq Listing Rule 5620(a). However, Lottery.com has regained compliance with Nasdaq’s Listing Rule 5250(c)(1) for timely filing of periodic financial reports, following the submission of its overdue Form 10-Q for the period ended September 30, 2024.

In a strategic move to bolster its financial position, Lottery.com has entered into a $100 million stock purchase agreement with Generating Alpha Ltd. The agreement permits the investor to acquire up to $100 million of Lottery.com’s registered common stock at 90% of the market price.

Additionally, the company has announced the engagement of a new independent registered public accounting firm, Boladale Lawal & Company. The appointment follows the resignation of the previous accounting firm, Yusufali & Associates, LLC. The change is part of Lottery.com’s ongoing review of internal accounting controls and efforts to maintain compliance with Nasdaq listing rules. These are recent developments that investors should note.

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