Online lottery platform Lottery.com has entered into a memorandum of understanding (MOU) with Ukrainian state lottery operator MSL to offer select Lottery.com products in Ukraine.
Under the terms of the agreement, the products will be available both physically and electronically, as and when approved by Ukrainian legislation. They will also need to meet current and upcoming compliance requirements of the country’s legislation on lotteries.
MSL, a member of the European Association of State Lotteries, is the largest state lottery operator in Eastern Europe. The agreement will make it the exclusive distributor of select Lottery.com products in Ukraine which, with a population of about 45 million, has an estimated gambling market of approximately €1bn.
Tony DiMatteo, CEO of Lottery.com, said: “MSL is an expert and leader in the lottery space in Ukraine. We are grateful to be partnered with such an established powerhouse in the lottery and gaming industry and very excited to expand into the Eastern European market.”
The firm has been actively working on growing its international presence and other expansion announcements made earlier this year such as the signing of a 30-year partnership with Turkish company Inball.
The company is also targeting mid-February 2021 to sign a definitive agreement for a business combination with Trident Acquisitions Corp after announcing a binding letter of intent to merge with the group in November.