Lottery.com, the US based lottery broker and information portal is planning to go public on the Nasdaq exchange through a reverse merger with special purpose acquisition company Trident Acquisition Group. Trident Acquisition Group has signed a binding letter of intent to acquire the broker.
The company is mulling over expanding into over twenty, even though it is authorized to sell Powerball tickets in one hundred and forty-eight nations around the world. The business has seen growth in sales by a whopping two hundred and seventy nine percent, from 2016 to 2019.
The chairman of Trident, Marat Rosenberg mentioned,
“Lottery.com has developed an innovative platform that is revolutionizing the lottery industry and bringing it into the digital age. The company has developed a world-class safe and secure mobile lottery platform that provides users the ability to play official lottery games right from their phone.”
“With a track record of substantial revenue growth and user base expansion in a relatively short period of time, we believe that Lottery.com has the potential to cement its place as the leading online platform to play the lottery worldwide.”
It is to be noted that the team behind Trident had earlier brought blockchain-focused fintech business Triterras public through one more special purpose acquisition company named Netfin Acquisition Corp.
“As an experienced SPAC team with a track record in the blockchain-enabled online platform space, we look forward to introducing the story of Lottery.com to the public market.”
Tony DiMatteo, the founder and chief executive of Lottery.com mentioned that the funding comes at an apt time to permit the business to take advantage of the bigger number of people participating in lotteries online.
The deal is anticipated to close in the 1st quarter of 2021.
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