Lottery.com, a prominent tech firm at the nexus of gaming, sports, and entertainment, has confirmed the impending launch of its Sports.com Super App. To fuel the app’s expansion, Lottery.com revealed a $10 million acquisition of a majority stake in GXR’s sports and technology assets.
Lottery.com announced that it signed a Letter of Intent to acquire a 51% controlling interest in GSX’s sports and tech assets, valuing the assets at $10 million pre-money, or $3 per share. The deal is subject to due diligence and a final agreement.
Currently, Lottery.com intends to finance the $5.1 million initial investment through stock, cash, or a mix of both.
The agreement will transfer all GXR unencumbered assets, including its tech stack and user base, to a new entity called NewCo, with Lottery.com initially holding a 51% stake in NewCo.
If approved, the deal is expected to conclude by August 1.
Paul Roy, GXR’s founder and CEO, expressed satisfaction with the deal, describing it as a “transformational moment for the global sports media ecosystem.”
Together with Lottery.com and Sports.com, the aim is to create the world’s first true sports super app. As global licensing talks progress and integration with the Lottery.com brands begins, there is a vision for fans to control their entire live event experience—on the Super App, across all screens, globally.
The Super App, according to Lottery.com, is intended to blend live streaming, social engagement, e-commerce, and gamification into a cohesive ecosystem. It will feature live streaming, community chat clubs, star-based social media, e-commerce, real-money and fantasy sports gaming, and sports news.
The objective is to engage various fans, offering a one-stop-shop for all things sports.
Scheduled to be available in the third quarter of 2025, the app will initially focus on soccer and motorsport—two areas where Sports.com is robust. Lottery.com plans to include more sports in the future.
The app will rely on premium streaming subscriptions, in-app ads, merchandising, and interactive challenges for sustainability.
Mark Bircham, director of Sports.com, noted the team has been developing the app for two years. He praised the acquisition of the GXR assets and the forthcoming launch of the Sports.com Super App, stating these events are the result of a precise strategy to consolidate fragmented sports experiences.
Bircham remarked: “Our partnerships with emerging motorsport stars like Callum Ilott, Louis Foster, and Sebastian Murray, combined with this tech acquisition, prepare us for a substantial media expansion, redefining how fans watch, play, and engage with their beloved leagues, teams, and players.”
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com
