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FORT WORTH, Texas - Lottery.com Inc. (NASDAQ: LTRY, LTRYW), a key player in digital lottery and sports entertainment technology with a market capitalization of $17.35 million, has announced its intention to host its first shareholder webinar in over three years, signaling a new phase of transparency and engagement. The company’s stock has shown remarkable momentum, delivering a 107.61% return over the past six months, according to InvestingPro data. This initiative, set to take place in the second quarter, is part of a broader two-year corporate turnaround effort that the company is nearing completion of, aimed at strengthening its long-term operational and financial position.
Chairman and CEO Matthew McGahan is set to provide shareholders with a formal update on the company’s strategic progress and future growth plans. McGahan stated, "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."
Lottery.com’s turnaround strategy has included a complete overhaul of its Board of Directors, the formation of a strategic Advisory Board, and a restructuring of its executive team. McGahan has transitioned from Non-Executive Chairman to CEO and President of both Lottery.com and Sports.com. Additionally, Robert Stubblefield has been appointed as Chief Financial Officer and Gregory Potts as Chief Operating Officer.
The company has also revamped its legal and compliance approach, engaging Crowell & Moring as its global counsel. In terms of financial restructuring, Lottery.com has secured significant capital, including $100 million from Generating Alpha Ltd. and $150 million from United Capital Investments London (UCIL), through the appointment of Cohen & Company Capital Markets as its investment banker.
These funds are intended to be used strategically for growth initiatives, such as developing or acquiring advanced technology for its platforms, closing revenue-generative acquisitions, and strengthening the company’s balance sheet. This capital injection comes at a crucial time, as InvestingPro data shows the company’s revenue declined by 84.82% in the last twelve months, though it maintains an impressive gross profit margin of 69.89%.
On the legal front, Lottery.com has successfully defended over a dozen legal cases, mitigating key litigation risks and paving the way for future growth. The company now focuses on increasing revenues by resuming gaming operations, monetizing Sports.com, and completing acquisitions to enhance profitability and shareholder value.
The upcoming shareholder webinar and shareholder letter from CEO McGahan are part of Lottery.com’s commitment to building public trust and engaging with its shareholders. According to InvestingPro analysis, the company currently trades above its Fair Value, with a concerning current ratio of 0.52, indicating potential liquidity challenges. Investors can access 12 additional ProTips and comprehensive financial metrics through InvestingPro’s advanced analytics platform. This news is based on a press release statement from Lottery.com Inc.
In other recent news, Lottery.com has announced a strategic expansion plan following a two-year transformation, securing $250 million in committed funding. This includes a $150 million commitment from United Capital Investments London and a $100 million stock purchase agreement with Generating Alpha. The company has regained Nasdaq compliance without resorting to a reverse stock split, maintaining a closing bid price of $1.00 or above for the last twenty business days. Lottery.com has also acquired Spektrum Ltd for $1.5 million in an all-stock deal, enhancing its international market presence with a technology platform for global use. Additionally, Sports.com, owned by Lottery.com, has partnered with Orange to stream sports content via the Max it app in Africa and the Middle East. This collaboration is part of Sports.com’s global growth strategy, aiming to reach millions of users in the region. The company is focused on operational execution and revenue generation, having launched Sports.com Studios to produce live-streaming content. These developments mark a significant turnaround for Lottery.com, with a focus on expanding its market presence and enhancing shareholder value.
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