Lottery.com, based in Austin, has declared a strategic acquisition, the financial intricacies of which remain undisclosed, heralding an immediate rebranding.
SportLocker, associated with Saudi Arabia’s burgeoning sports initiatives, had previously outlined plans centred on club acquisitions, sponsorships, and media partnerships, particularly focused on UK football and the US Major Soccer League (MSL).
Lottery.com, in a statement, announced its acquisition of S&MI, the proprietor of SportLocker, through a stock-based agreement.
This development follows recent disclosures concerning the issuance of 20 million shares, amounting to $100 million, alongside “a substantial expansion” in fundraising, with commitments from both new and existing investors escalating from $1 million to $5 million.
The Sports.com platform will initially launch in the US and Europe, with targeted endeavours in the Middle East, offering a blend of sports news, live streaming, documentaries, and films.
Despite Lottery.com’s association with gambling, there is no mention of sports betting on the new Sports.com platform.
A core aspect of the strategy involves capitalising on existing partnerships with Mobile Network Operators (MNOs) to provide localised branded sports content services, catering to the demand for sports video content across diverse markets directly onto consumers’ mobile devices.
Sports.com is resolute in its ambition to expand globally, encompassing sports such as soccer, motor racing, football, baseball, basketball, MMA, boxing, cricket, golf, and tennis.
Additionally, a dedicated programme for women’s sports is anticipated to launch.
Matthew McGahan, chairman and CEO, hailed the acquisition as strategically significant, unveiling Sports.com with a pioneering vision poised to revolutionise fan engagement worldwide.
By integrating SportLocker’s partnerships, localised content services, and community-focused features with enhanced technology, Sports.com aims to provide a dynamic ecosystem for sports enthusiasts.
Lottery.com aims to introduce new features and innovative technologies throughout 2024, focusing on delivering personalised content and fostering sports-centric communities with prominent athletes.
Following the initial launch in the US and Europe, Sports.com intends to expand into Africa, India, South America, Asia, and Australia, offering comprehensive global and regional sports content, along with pre and post-match stats, news, and event highlights, including prestigious tournaments and tours across various sports genres.
Majed Al Sorour, president of Sports.com and Saudi Golf, expressed enthusiasm for leading Sports.com into a new era, leveraging technology and passion for sports to create unparalleled fan experiences worldwide.
Despite previous challenges, including regulatory compliance issues and legal disputes, Lottery.com is poised for growth, with recent developments indicating a positive trajectory in the sports and technology landscape.