Lottery.com looks set to accelerate its global reach and expansion through the acquisition of the Spektrum Ltd division of PlusEVO.
In an all-stock transaction, the company will take over the aforementioned section of the company, securing key technology to enhance its international market presence.
As part of the deal, Lottery.com will issue 500,000 shares to PlusEVO over 30 months, valuing the transaction at $1.5 million.
The acquisition of Spektrum is expected to significantly bolster Lottery.com’s growth trajectory by increasing operational efficiency, improving margins, and enabling the company to generate revenue from international operations by March 31, 2025.
By integrating Spektrum’s technology, Lottery.com aims to streamline its entry into key global markets while enhancing its competitive positioning in Europe, Africa, and Asia.
The move aligns with the company’s broader strategy of leveraging mergers and acquisitions to strengthen its technology infrastructure, much like its international competitors.
CEO McGahan highlights strategic value
Lottery.com Chairman and CEO Matthew McGahan hailed the acquisition as a transformative step for the company by stating that “it’s a great start to the year to have the technology needed to launch Lottery.com both domestically and internationally.”
McGahan also suggested that the purchase “brings value everywhere for [Lottery.com]” thanks to a “new market entry, additional revenue lines, and increased ownership of our technology.”
The company intends to tailor its platform deployment in each jurisdiction based on gaming regulations, competitive dynamics, and consumer demand.
A renewed global strategy
Lottery.com has highlighted opportunities in the $300 billion global lottery market, focusing on a diversified gameplay experience beyond traditional lottery offerings.
The newly acquired technology is designed to increase consumer engagement and align with international market trends.
In addition to the acquisition, the company recently secured a legal victory in federal court, where a lawsuit alleging fraudulent misrepresentation was dismissed.
This resolution marks a positive step forward as Lottery.com moves ahead with its ambitious international expansion plans.
With a clear vision for the future, Lottery.com is poised to capitalize on new opportunities across multiple regions, paving the way for a more unified, global lottery solution.
