Lottery.com Expands Global Reach with New Investing.com Partnership


© Reuters.

LONDON – Lottery.com Inc. (NASDAQ:LTRY, LTRYW), a well-known online lottery service provider, has entered into a software purchase agreement with WA.Technology aimed at expanding its operations to Africa, the Pacific, Brazil and other parts Latin America. This strategic move, announced at ICE London 2024, is intended to strengthen the company’s global growth efforts.

The partnership with WA.Technology, a leading provider of B2B iGaming solutions, involves leveraging the latter’s comprehensive iGaming platform and operational expertise to support Lottery.com’s expansion. The collaboration will offer a range of services, including affiliate and lead generation strategies, as well as comprehensive legal, compliance, regulatory and financial management, with the aim of expanding Lottery.com’s brand presence and earning potential in global markets in the coming years to increase.

The global lottery industry is experiencing significant growth, particularly with the increase in mobile and online lottery sales. WA.Technology’s advanced solutions, including the WA.Lottery platform, position the company as a key player in helping Lottery.com explore new market opportunities and consolidate its presence in target regions.

Tim Scoffham, CEO of WA.Technology, expressed excitement about the partnership and highlighted its alignment with Lottery.com’s vision to create a global lottery destination. Lottery.com CEO and Chairman Matthew McGahan also noted the importance of the agreement to the company’s growth strategy, particularly in South America, highlighting the opportunity to focus on U.S. ticketing operations, the relaunch of the WinTogether sweepstakes business and the …to focus on introducing Sports.com.

This information is based on a press release from Lottery.com Inc.

Investing Pro Insights

As Lottery.com Inc. (NASDAQ:LTRY, LTRYW) looks to expand its global presence through a strategic partnership with WA.Technology, the company’s financial health and market performance are becoming increasingly relevant to investors. Here are some insights based on current data and expert analysis from InvestingPro:

InvestingPro Data’s metrics show that Lottery.com’s market cap is a modest $5.98 million. Despite industry challenges, the company has maintained impressive gross profit margins, reaching 86.72% over the last twelve months (as of Q1 2023). However, revenue growth fell significantly by 75.44% over the same period, reflecting hurdles in scaling operations.

InvestingPro Tips shows that analysts are forecasting revenue growth for the current year, which could be a positive sign for the company’s expansion efforts. Additionally, the company trades at a low price-to-book ratio of 0.12, which could be attractive to value investors looking for undervalued stocks.

For those considering investing in Lottery.com, it is important to be aware of the company’s high price volatility, as the stock has experienced significant price fluctuations in recent months. The 1-month price total return shows a sharp decline of -33.55% as of the current date, while the 3-month return shows an increase of 22.35%. Such volatility could bring both risks and opportunities for traders and investors.

For more in-depth analysis and more InvestingPro tips, including the company’s ability to manage its short-term obligations and its cash burn rate, investors can get further insights at https://www.investing.com/pro/LTRY. There are 21 additional tips listed on InvestingPro that could provide a more complete understanding of Lottery.com’s financial and market position.

Interested readers can benefit from an exclusive offer using a voucher code SFY24 to get an additional 10% off a 2-year subscription to InvestingPro+, or SFY241 to receive an additional 10% discount on a one-year InvestingPro+ subscription. These subscriptions provide valuable insights that can help investors make more informed decisions.

This article was created with the assistance of AI and reviewed by an editor. More information can be found in our terms and conditions.

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