A recent deal inked between Trident Acquisitions Corp. and the leading online lottery platform, Lottery.com will result in a public listing. In a press release out out this week, it was announced that Lottery.com will go public on Nasdaq after finalizing its acquisition deal with Trident. The merger is set to take place towards the end of the first quarter of 2021.
According to the press release, with the expected proceeds to be received by Lottery.com (around $45 million), the pioneer lottery group will be “well-positioned to accelerate its revenue growth through further expansion in its existing markets and into new high-growth markets both domestically and internationally.”
“Lottery.com’s innovative platform has already made significant progress bringing the lottery industry into the digital age and continuing to expand its markets both domestically and internationally,” noted Vadim Komissarov, CEO of Trident. “With a track record of substantial growth and user base expansion in a relatively short period of time, we are confident that Lottery.com has the ability to cement its place as a leading online platform to both play the lottery and to introduce additional wagering and games of chance worldwide. We believe this transaction will allow Lottery.com to be on a path to reach its true growth potential, and we look forward to working with the team as we introduce their compelling story to the public markets.”
Lottery.com, which was founded in 2015, averages 7.5 million visitors each year. It offers players the opportunity to play official lottery games such as Mega Millions and Powerball, as well as state-sanctioned local lotteries. It also provides lottery data to over 400 digital publishers, including Google, Amazon and Verizon/Yahoo.
Market analysts believe that Lottery.com has major scope to grow, as more and more states and countries move their lotteries online. While Lottery.com currently operates in 11 states in the US, it has plans to reach 34 by the end of 2023.
