FORT WORTH, Texas, March 06, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (NASDAQ:LTRY, LTRYW)) (“Lottery.com” or the “Company”), a leading technology company in digital lottery and sports entertainment, announces that it entered into a Stock Purchase Agreement with PlusEVO Ltd. to acquire its wholly-owned subsidiary, Spektrum Ltd in an all-stock transaction valued at $1.5 million (the “SPA”). In consideration of the acquisition, PlusEVO will receive 500,000 shares of the Company’s restricted common stock over the course of 30-months valued at $3 per share. Completion of the acquisition provides the Company with ownership of the technology platform being used to support its international market entry and rapid revenue growth expansion plans.
Lottery.com’s acquisition of technology tailored specifically for international territories allows it to align and mirror that of many of the European, African and Asia lottery competitors by brining additional game play outside of standard lottery directly to the consumer driving greater end user engagement.
This acquisition is part of the Company’s previously announced plans to launch and generate revenue from international operations by March 31, 2025. Owning its proprietary technology stack allows Lottery.com to maximize operational efficiencies, enhance margins, and drive long-term value creation which reinforces the Company’s commitment to profitable global growth and near-term revenue generation.
Matthew McGahan, Chairman and CEO of Lottery.com, commented:
“It’s a great start to the year to be able to have the technology needed to launch Lottery.com both domestically and internationally. This acquisition brings value everywhere for us, from new market entry, additional revenue lines, increased value from owning more of our own technology …
