Lottery.com has made the leap into the sports space by acquiring sports, fitness and wellbeing company Nook, which will subsequently be rebranded as Sports.com.
A Dubai-based enterprise, Sports.com brings six new verticals to Lottery.com, which has thus far operated as a lottery courier app across the US from its headquarters in Austin, Texas.
The products and services set to be integrated into Lottery.com’s platform include: streaming and video on demand; sports catalogues and live events; original content production, including sports feature films and documentaries; esports and metaverse development; promotional, educational and ‘other services and support for global health, fitness and wellness initiatives.
Lottery.com Board Chairman and Interim CEO, Matthew McGahan, stated: “The strategic acquisition of Nook and its rebranding as Sports.com marks the next phase of the Lottery.com journey.
“We aim to establish Nook as a true sports incubator within the Sports.com community, fostering growth for companies and individuals alike by leveraging our extensive network to provide tailored guidance for startups, connecting them with accomplished entrepreneurs, forward-thinking organisations and visionary investors.
“Our objective, built on a shared vision of catalysing business growth to shape the future of sports, health, and entertainment, is to create a unique environment for sports-related enterprises to flourish and we certainly intend to selectively invest in individuals and businesses to achieve this goal.
“With the continued support of our shareholders, our financial agility is enhanced and with that comes an acceleration of hitting our ambitious targets for both Lottery.com and Sports.com.”
As well as expanding Lottery.com’s business agenda, the acquisition also broadens the firm’s international reach from its home market of the US, specifically into Dubai and the wider Middle East region.
Sports.com has procured 200 licences for ‘individuals and companies’ in the sports sector across the Middle East, and has also entered into an exclusive partnership with the Dubai Multi-Commodities Centre Free Zone (DMCC),
The acquisition follows several months of growth and development for Lottery.com, which in July secured investment from United Capital Investments London (UCIL).
Commenting on the group’s integration into Lottery.com, Ravi Bhusari, Founder of Nook/Sports.com, added: “As the founder of Nook, I am thrilled to embark on this exciting journey with Lottery.com and the transformation of Nook into Sports.com.
“Our mission has always been to empower sports, fitness, and wellness entrepreneurs, and this partnership takes that mission to a whole new level. Together, we will create a dynamic sports entertainment platform that not only connects enthusiasts but also fosters innovation and growth within the sports industry. We look forward to shaping the future of sports, health, and entertainment on a global scale.”