FORT WORTH, Texas, Feb. 14, 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 has entered into a Memorandum of Understanding (“MOU”) with PlusEVO Ltd. to acquire an advanced lottery management system and gaming platform, strengthening its international expansion efforts. The platform is designed to support multiple gaming applications, including lottery and sweepstakes, that provide a localized user-experience while adhering to all regulatory requirements.
This purchase 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. Rather than relying on third-party licensing agreements, the Company will have full control over its technical roadmap, enabling the customization of development initiatives for global market expansion. The Company and seller have agreed to an all-stock purchase price of $1.5 million payable over 30 months with a share value of $3.
Matthew McGahan, Chairman of Lottery.com, commented:
“This acquisition strengthens our long-term position, giving us the flexibility and control to accelerate our expansion into Europe, Africa, and other emerging markets. By owning and controlling the technology behind our platform, we eliminate reliance on third parties, allowing us to move faster, innovate more effectively, and enhance the customer experience. Our successful fundraising efforts have allowed us to accelerate our international growth strategy by more than nine-months.”
Key Benefits of the Acquired Technology Stack
The newly acquired platform is built on microservices architecture that ensures high availability and seamless scalability. By enabling each microservice to scale independently based on workload, the system optimizes resource utilization for international markets. This flexible and decoupled framework allows the integration of provider-specific logic with ease, ensuring new partners and features can be introduced without disrupting existing services. The back-office system operates on a dedicated database, ensuring that transactional performance for frontend operations remains unaffected.
Furthermore, event-driven workflows powered by Kafka logic enable asynchronous processing, reducing latency and improving system responsiveness. Security is also a major focus, with enhanced internal microservice communication protocols safeguarding data integrity and privacy. The technology stack’s diversity allows for the selection of the most suitable technology for each function, optimizing performance and fostering innovation.
Matthew McGahan, Chairman of Lottery.com, added:
“This investment gives us full control over our technology and the flexibility to scale internationally on our terms. It’s an investment in our growth and our ability to deliver a superior experience to customers worldwide."
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. Those additional risks and uncertainties are discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on June 14, 2024, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
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For more information, please visit www.lottery.com or contact our media relations team at press@lottery.com.
