LTRYW - Lottery.com Inc. Acquires SportLocker | Benzinga
AUSTIN, Texas, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Lottery.com Inc. (NASDAQ:LTRY, LTRYW)) ("Lottery.com" or the "Company"), a leading online lottery services provider announces the strategic acquisition of S&MI Ltd. ("SportLocker").
As part of the acquisition, SportLocker, rebranded as Sports.com, will immediately launch as a premier platform for sports fans worldwide, marking a pivotal leap in Sports.com's evolution as the next-gen digital sports entertainment space. The platform merges innovative community-driven aspects with expansive content and technology, creating a new era of sports engagement.
Details of Acquisition
The stock-based acquisition is a significant step in Sports.com's strategy to diversify and magnify its digital entertainment and sports engagement footprint, introducing a service that seamlessly blends sports and social for a truly immersive fan experience.
Creating the next Gen Sports Entertainment Platform
Sports.com is poised to redefine digital sports entertainment by introducing a platform that aims to combine: 24 hours of sports news; live streaming; hours of exciting new content, including original documentaries, films, and exclusive behind-the-scenes access. By offering innovative ways for fans to watch sports—when they want, where they want, directly on their devices, regardless of the country—Sports.com is determined to break new ground. Throughout 2024, the Company plans to add additional features to and invest in innovative technologies for Sports.com that focus on immersing sports fans with content that truly matters to them though the establishment of communities and sports-centric social media interactions with some of the biggest stars in sports: past, present, and future.
Creating a New Vision for Sports Entertainment
The Company is initially focused on rolling out Sports.com in the USA and Europe, along with concentrated efforts in the Middle East. Sports.com is determined to expand globally, targeting high-energy sports such as soccer, motor racing (in all forms), football, baseball, basketball, MMA, boxing, cricket, golf, field and ice hockey, and tennis at the grassroots level. A dedicated parallel program committed exclusively to women's sports is expected to launch, showcasing the latest methods for fan engagement, sponsorship acquisition, and generating new revenue streams for clubs and teams.
The Company previously announced plans for club acquisition, sponsorship, and media partnership programs. These initiatives, initially focused on UK soccer clubs, MLS, and USL, are spearheaded by Marc Bircham, Sports.com head of business development, and they reflect Sports.com's commitment to making a significant impact in the sports and media landscape, particularly with the American audience in mind, leveraging the vast and lucrative American sports industry.
Forward-Looking Strategic Direction and Growth Opportunities
Once established in the USA, Europe, and the Middle East, Sports.com plans to extend its reach into Africa, India, South America, Asia and Australia, with a target to deliver the same unparalleled sports content and interactive experiences along with regional sports content. This strategic direction underscores Sports.com's commitment to driving growth in higher value territories and underserved markets along with prioritizing regions based on their ability to earn greater customer Lifetime Value (LTV). Sports.com envisions delivering comprehensive pre and post-match stats, news, and event highlights across a wide range of major sports such as soccer, golf, tennis, cricket, and more, including:
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