Online lottery platform Lottery.com has signed a letter of engagement with Ritzio International to help with its expansion into European markets.
With more than 15 years of experience in this market, Ritzio operates gaming venues in small and medium-sized properties located in urban areas throughout Europe. Its gaming network provides visitors with access to a growing portfolio of gaming venues, entertainment services and strict standards of quality and safety.
Europe’s gambling market is estimated to be approximately €23bn ($27.4bn). The addressable market in the countries that Ritzio covers includes 96 million people.
Lottery.com CEO Tony DiMatteo said: “This partnership is an important inroad as we expand our overseas operations and offer our products to new markets. Ritzio’s established presence and experience in the gaming industry is phenomenal and aligns well with our growth strategy.”
The deal illustrates Lottery.com’s efforts to increase its international expansion and presence, as Ritzio operates in 150+ gaming halls across its Germany, Romania, and Belarus divisions, exceeding 3,800 gaming terminals and €90m ($107m) of annual revenue.
The online lottery platform began its expansion into the European market earlier this year following deals with Ukraine’s state lottery operator MSL and Turkish company Inball.
In February, Lottery.com entered into a definitive agreement with Trident Acquisitions Corp to become a publicly traded company on The Nasdaq Stock Market, a deal which it expects to complete later this year.