- Lottery.com (LTRY, Financial) announces $10 million acquisition for a 51% controlling interest in GXR World Sports assets.
- The Sports.com Super App is set for a global launch in Q3 2025.
- Lottery.com commits $15 million for the app's expansion, with an option to acquire 100% ownership by 2027.
Lottery.com (LTRY) has announced it will acquire a 51% controlling interest in GXR World Sports assets for $10 million. This strategic acquisition aims to launch the Sports.com Super App, a comprehensive digital platform set to revolutionize sports fan interaction globally.
The initial investment of $5.1 million will be funded via cash, stock, or a combination, with the transaction priced at $3.00 per share. This acquisition aims to leverage GXR's existing platform, which boasts over one million monthly active subscribers, significantly enhancing Lottery.com's entry into the sports entertainment sector.
Scheduled for launch in Q3 2025, the Sports.com Super App will integrate six core features: live streaming, community chat, stats-based social media, e-commerce, gaming, and sports news. Lottery.com has pledged an additional $15 million to support the app's expansion, further solidifying its position in the digital sports media landscape.
The move also includes a call option to acquire full ownership by 2027, offering a gradual integration strategy while minimizing initial risks. By focusing initially on the globally popular soccer and motorsport verticals, Lottery.com aims to capture dedicated fan bases and expand its reach.
