The acquisition deal between Lottery.com owner AutoLotto and New York-listed Trident is finalized three months after the initial agreement in November 2020.
Upon completion of the merger, the combined entity is expected to have an enterprise value of approximately $526m.
The two parties have announced a deal that will enhance the capabilities of Lottery.com. By leveraging innovative blockchain technology, Lottery.com will be able to offer official lottery games like Powerball and Mega Millions while also strengthening its regulatory capabilities. This will enable Lottery.com to grow its revenue by expanding into new high-growth markets both domestically and internationally.
The transaction for Lottery.com is expected to be completed by the end of Q1 2021.
Once the transaction is finalized, a $45m growth fund will be injected into Lottery.com.
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