Lottery.com acquires lottery management system from PlusEVO Ltd
The deal includes an all-stock purchase price of $1.5m payable over 30 months.
Key Points
- Lottery.com has entered an acquisition MOU with PlusEVO Ltd
- This deal will give the company full control over its technology
- The move comes as Lottery.com looks to expand operations on an international scale
Lottery.com has entered into a Memorandum of Understanding (MOU) to acquire a lottery management system and gaming platform from PlusEVO Ltd.
This platform can support a variety of gaming applications, such as lottery and sweepstakes, and can help to create a localized experience for users.
As per this arrangement, the company will have full control over its proprietary technology stack, which according to Lottery.com means it has less reliance on third-party licensing agreements and will help to “maximize operational efficiencies, enhance margins, and drive long-term value creation.”
While this acquisition will help to drive growth for Lottery.com in terms of profitability, it will also aid it in terms of international expansion.
Good to know: Earlier this month, Lottery.com announced plans to begin expanding its lottery operations into international markets by the conclusion of March 2025
Lottery.com Chairman Matthew McGahan said, “This acquisition strengthens our long-term position, giving us the flexibility and control to accelerate our expansion into Europe, Africa, and other emerging markets.
“By owning and controlling the technology behind our platform, we eliminate reliance on third parties, allowing us to move faster, innovate more effectively, and enhance the customer experience. Our successful fundraising efforts have allowed us to accelerate our international growth strategy by more than nine-months.
“This investment gives us full control over our technology and the flexibility to scale internationally on our terms. It’s an investment in our growth and our ability to deliver a superior experience to customers worldwide.”
In other lottery-based news, IGT has extended its contract with the Tennessee Education Lottery (TEL) for a further nine years, a deal which will include upgraded terminals and a new central system.
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