Online lottery platform Lottery.com has entered into a binding agreement to acquire Mexican lottery companies JuegaLotto and Aganar to expand its operations in the country and throughout Latin America.
JuegaLotto is federally licensed to sell international lottery games in Mexico through an authorised federal gaming portal and is licensed for games of chance in other countries throughout Latin America.
Aganar is licensed to sell Mexican National Lottery draw games, instant win tickets, and other games of chance online with access to a federally approved online casino and sportsbook gaming license. The closing of the acquisitions is subject to standard closing conditions.
Latin America’s estimated lottery market is approximately $9.8bn across 26 countries. The addressable market in the countries that JuegaLotto and Aganar cover includes 652 million people and potential customers.
Lottery.com CEO Tony DiMatteo said: “These acquisitions will mean significant inroads for Lottery.com throughout Mexico and Latin America as we expand our international operations, expand our portfolio of products, and expose our domestic products to new markets.
“Their combined established presence and experience in the gaming industry further enhances our vision of being the premier global marketplace for games of chance.”
The deals highlight Lottery.com’s recent efforts to increase its international expansion and presence, and the combined entities have a federal license that allows them to provide official Pronosticos National Lottery games throughout Mexico.
Furthermore, these acquisitions represent the very early stages of the company’s long term strategy to enter into additional international markets, both through partnerships and M&A.
JuegaLotto CEO Luis Carlos Leal stated: “The combination of our experience, our products, and gaming licenses in Mexico and Latin American in union with the impeccable brand of Lottery.com is an obvious win and we are ecstatic to grow together in the region.
“Mexico, recently regulating this market, is among the most important markets in Latin America and we are looking forward to being a part of Lottery.com’s ongoing vision, international expansion, and execution.”
Nour-Dean Anakar, a representative of Aganar with 25 years of experience leading the gaming industry, added: “The focus on growth and bringing additional companies and distribution partners into the fold is a key driver for Lottery.com, and I am confident that our platform, and my experience in the lottery industry, will accelerate this momentum even further.”
Last month, Lottery.com entered into a definitive agreement with Trident Acquisitions Corp to become a publicly traded company on the Nasdaq Stock Market.