Lottery.com recently announced the issuance of 20 million new shares, worth £100 million. The acquisition of S&MI, the owner of SportLocker, is a strategic move for the company. The new Sports.com platform will focus on sports news, live streaming, and other sports-related content such as documentaries and films. Despite Lottery.com’s association with gambling, the platform will not include sports betting.
Sports.com aims to expand worldwide, covering sports like soccer, motor racing, football, baseball, basketball, MMA, boxing, cricket, golf, and tennis. A dedicated program for women’s sports is also in the works. The platform plans to leverage existing partnerships with Mobile Network Operators to provide localized sports content services.
Lottery.com CEO, Matthew McGahan, highlighted the strategic importance of the acquisition, stating that Sports.com will offer fans an unparalleled sports experience. The platform is set to launch in the US and Europe initially, with plans to expand into Africa, India, South America, Asia, and Australia. Sports.com will provide comprehensive sports content, including coverage of golf tournaments, tennis grand slams, and motorsport events.
Majed Al Sorour, president of Sports.com, expressed excitement about revolutionizing fan engagement through technology and passion for sports. Despite facing challenges in the past, Lottery.com has shown positive financial results, reducing its net loss in the third quarter of the year. The company has also regained compliance with Nasdaq rules after previous issues.
