NEW YORK, March 22, 2021 /PRNewswire/ -- The popularity of online gambling is growing rapidly across the United States, in large part thanks to pandemic and its repercussions and the more favorable laws implemented in some states. In states where online gambling was legalized, strong sales have been recorded. For example, online gambling and online sports betting brought in USD 42.7 Million in gross receipts during the first 10 days of legal play in Michigan, state regulators announced Wednesday. Richard Kalm, Executive Director of the Gaming Control Board, explained, according to a report by the Detroit Free Press, that "internet gaming operators are off to a good start in Michigan… The taxes and payments from online gaming will provide funding for K-12 students, the city of Detroit and Michigan tribal communities." Trident Acquisitions Corp. TDAC, Bally's Corporation BALY, Churchill Downs Incorporated CHDN, DraftKings Inc. DKNG, Everi Holdings Inc. EVRI.
A major portion of the online gambling industry is focused on online sports betting. The more favorable legal market has resulted in various partnerships that were previously impossible. For example, just last week, Dish Network had partnered with DraftKings to let TV subscribers see sports-wagering odds and fantasy contests while they watch live games. In addition, in some cases, subscribers will also be able to initiate actual bets. "Our deal with Dish TV and the technology behind it immerses customers within a next-generation viewership experience and reaches these fanbases in a completely new way," said Paul Liberman, DraftKings co-founder and President of Product and Technology, in a statement.
Trident Acquisitions Corp. TDAC and Lottery.com, which entered into a definitive agreement with Trident Acquisitions Corp. on February 22, 2021, just announced breaking news this morning that, "a leading platform that allows users to play the lottery online, has entered into a binding agreement to acquire Mexican lottery companies JuegaLotto and Aganar to expand its operations to Mexico and throughout Latin America. JuegaLotto is federally licensed to sell international lottery games in Mexico through an authorized 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 $9.8 billion ($9,800,000,000 USD) across 26 countries. The addressable market in the countries that JuegaLotto and Aganar cover includes 652 million people and potential customers.
"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," said Lottery.com CEO Tony DiMatteo. "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 which allows them to provide official Pronosticos National Lottery games throughout Mexico. Together they have attracted 136,000 new players in the past 12 months. Furthermore, these acquisitions represent the very early stages of Lottery.com's long term strategy to enter into additional international markets, both through partnerships and M&A.
More information about JuegaLotto and Aganar can be found at their respective websites, https://juegalotto.com/ and https://aganar.com.mx/
"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," said JuegaLotto CEO Luis Carlos Leal. "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."
"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," commented Nour-Dean Anakar, representative of Aganar, with 25 years of experience leading the gaming industry including as CEO and managing director Ladbrokes South America, Hilton International Gaming Operations for South America, and CEO of Digital Orchid, the first company in Mexico to establish online and mobile regulated national lottery games.
On February 22, 2021, the Company entered into a definitive agreement with Trident Acquisitions Corp. TDACU TDAC, TDACW))) to become a publicly traded company on The Nasdaq Stock Market. In anticipation of Lottery.com completing both of the JuegaLotto and Aganar acquisitions before its business combination with Trident, the business combination investor presentation was delayed to allow the inclusion of these potential assets and was filed by Trident today on a Current Report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") available publicly on the SEC's website at www.sec.gov and also posted to Trident's website.
About Lottery.com Lottery.com is an Austin, TX-based company enabling consumers to play state sanctioned lottery games from their home or on the go in the US and internationally. The Company works closely with state regulators to advance the lottery industry, providing increased revenues and better regulatory capabilities, while capturing untapped market share, including millennial players. Lottery.com is also gamifying charitable giving to fundamentally change how nonprofits engage with their donors and raise funds. Through their WinTogether.org platform, they offer charitable donation sweepstakes to incentivize donors to take action by offering once in a lifetime experiences and large cash prizes.
For our latest "Buzz on the Street" Show featuring Lottery.com recent corporate news, please head over to: https://www.youtube.com/watch?v=SugeyzNq178&ab_channel=FinancialBuzzMedia
Bally's Corporation BALY reported earlier this year that it has entered into a definitive agreement to acquire Monkey Knife Fight, the award-winning, fastest-growing gaming platform and third-largest daily fantasy sports ("DFS") operator in North America. The all-stock transaction makes Bally's just the third sports betting company in the U.S. to have a fantasy sports segment. In 2020, MKF, which offers its loyal users a dynamic and creative slate of daily sports and e-sports contests, was ranked by SponsorUnited as the sixth most-searched and tenth fastest-growing brand in sports and entertainment. "With this acquisition, we are pleased to enter into the high-growth DFS market. Monkey Knife Fight is a unique asset that we look forward to incorporating into Bally's constantly growing omnichannel portfolio of land-based casinos and iGaming platforms," said George Papanier, President and Chief Executive Officer of Bally's Corporation. "As with all of the properties and services that fall under the iconic Bally's brand, we are committed to providing a best-in-class DFS platform to sports fans around the country."
Churchill Downs Incorporated CHDN announced on February 17th, that Rivers Casino Des Plaines ("Rivers") has filed expansion plans with the City of Des Plaines and Illinois Gaming Board that, if approved, will allow the casino to add approximately 725 gaming positions, making it the first to have the state's maximum number of 2,000 positions. The proposed two-story addition will house a poker room, additional gaming areas, a ballroom for events, and a new restaurant. Rivers is jointly owned by Rush Street Gaming and Churchill Downs Incorporated. "With this proposed expansion, we will be able to offer our guests more of the entertainment and dining options they enjoy, additional gaming opportunities and a long-desired poker room," said CEO Greg Carlin, co-founder of Rush Street Gaming. "We have always offered a first-class experience for our guests. As the economy re-opens, we're excited to raise the bar and provide them with an even better experience."
DraftKings Inc. DKNG reported last month fourth quarter and full-year 2020 financial results. For the three months ended December 31st, 2020, DraftKings reported revenue of USD 322 Million, an increase of 146% compared to USD 131 Million during the same period in 2019. "With a favorable fourth quarter sports calendar and strong marketing execution, DraftKings was able to generate tremendous customer acquisition and engagement that propelled us to USD 322 Million in fourth quarter revenue, a 98% year over year increase," said Jason Robins, DraftKings' co-founder, CEO and Chairman of the Board. "In the fourth quarter of 2020, we saw MUPs increase 44% to 1.5 million and ARPMUP increase 55% to USD 65. We are raising our revenue outlook for 2021 due to our expectation for continued growth, the outperformance of our core business and newly launched states that were not included in our previous guidance."
Everi Holdings Inc. EVRI and player loyalty solutions reported earlier this year that the two now delivering its iGaming content in the state of Michigan through multiple online casino operators via its proprietary Remote Game Server (RGS). "Everi is excited to now offer in Michigan our high-performing game content that is popular with players in land-based casinos and has become a proven performer with our other iGaming partner-operators," said David Lucchese, Executive Vice President of Sales, Marketing, and Digital for Everi. "Online players enjoy the slot experience of our games, and our new partnerships in Michigan demonstrate our focus on expanding our Digital gaming business to provide our world-class slot games to the continuously growing community of online players."
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