Lottery.com will become a publicly traded company on the Nasdaq stock exchange, after Trident Acquisition Group signed a binding letter of intent to acquire the broker.
The online platform allows players to buy tickets for official state-sanctioned lottery games across the US, including Powerball and Mega Millions.
The broker additionally provides historical lottery data through its information portal, such as jackpot analysis and previous winning numbers.
Lottery.com is currently live in 10 states, while also offering its games and data to several other countries.
And it will now go public on the Nasdaq exchange through the merger with Trident, a special purpose acquisition company.
Trident has announced that it has entered into a binding letter of intent for a business combination transaction with Lottery.com, in a bid to help fulfil the latter’s aim of becoming a global lottery marketplace.
“Lottery.com has developed an innovative platform that is revolutionising the lottery industry and bringing it into the digital age,” said Trident chairman Marat Rosenberg.
“With a track record of substantial revenue growth and user base expansion in a relatively short period of time, we believe Lottery.com has the potential to cement its place as the leading online platform to play the lottery worldwide.”
Lottery.com co-founder and CEO Tony DiMatteo believes the merger will bring the company closer to its ultimate goal.
He said: “As we look to further capitalize on current trends with more consumers shopping from home and interacting through mobile applications than ever before, we believe the business combination with Trident will provide us ample capital to accelerate our growth and enter our next stage as a public company.”
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