LTRY - InvestorNewsBreaks - Lottery.com (NASDAQ: LTRY) Achieves Major Milestones on Path Toward Revenue Growth
Lottery.com (NASDAQ: LTRY, LTRYW) today announced two significant milestones in its journey towards revenue growth and stability. According to the announcement, the company has successfully regained compliance with another Nasdaq listing requirement and secured a credit facility with United Capital Investments London Ltd. (“UCIL”). The initial loan of $1 million, along with an additional credit facility of up to $49 million, will enable Lottery.com to bolster its financial position and pursue strategic opportunities. “Reaching an agreement with UCIL and regaining compliance with another Nasdaq listing rule are strong indications that the company is making progress on its recovery plan,” reads the statement issued by independent non-executive directors of the company. “The board felt strongly that it was time to find an alternative lender to Woodford Eurasia Assets Ltd., as the withholding of their funding was hindering many of our operational and revenue plans. With the financial backing from UCIL, we expect to quickly move forward with our operational goals and to capitalize on the promising opportunities that lie ahead.”
To view the full press release, visit https://ibn.fm/kryID
About Lottery.com
Lottery.com is a leading technology company that is transforming how, where and when lotteries are played. Its engaging mobile and online platforms enable players and commercial partners located throughout the United States and other countries to remotely purchase safe and legally sanctioned lottery games. Lottery participants look to the company’s website, Lottery.com, for compelling, real-time results on over 800 lottery games from over 40 countries. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. For more information, visit www.Lottery.com.
NOTE TO INVESTORS: The latest news and updates relating to LTRY are available in the company’s newsroom at https://ibn.fm/LTRY
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