Lottery.com Acquires PlusEVO’s Spektrum Tech Platform for $1.5M
Lottery.com, a provider of technology to the digital lottery and sports betting industries, has unveiled a major acquisition agreement that will support its launch and global expansion. According to the announcement, Lottery.com will acquire the Spektrum Ltd division of PlusEVO in an all-stock deal.
Lottery.com Acquires Spektrum in an All-Stock Deal
In its official release, Lottery.com said that the acquisition of Spektrum will support its business, facilitating its launch and permitting further international growth. The former company clarified that the Spektrum technology platform will increase its global penetration and, by extension, rapidly expand its revenue, allowing it to reach profitability sooner.
Lottery.com said that it will acquire Spektrum from PlusEVO in an all-stock deal, paying shares worth $1.5 million for the transaction. The deal will see Lottery.com provide a total of 500,000 shares to PlusEVO over the course of 30 months, worth $3 apiece.
Lottery.com confirmed that this transaction aligns with its overall strategy to expand at an international level. The company noted that the M&A activity and investment in technology mirrors the approach of many of its competitors across Europe, Africa and Asia.
The acquisition of Spektrum furthermore aligns with the company’s established plans to launch and generate revenue from international operations by March 31, 2025. Ownership of its tech stack would allow Lottery.com to achieve superior efficiency, enhance margins and drive long-term value creation.
Lottery.com reiterated its commitment to profitable global growth and generating value in the near term.
Lottery.com Is Off to a Great Start to 2025
Matthew McGahan, Lottery.com’s chairman and chief executive officer, commented on the acquisition. According to him, Lottery.com is off to a great start to 2025, now having secured the technology it needs to launch both domestically and internationally.
McGahan added that this acquisition “brings value everywhere” for his team, enabling new market entries, additional revenue streams and increased value of owning more of its technology. He was optimistic that this move would allow his team to generate more value for its shareholders.
We are very excited to see this evolution of the group unfold from a global expansion perspective but also driving the groups share price by virtue of delivering additional revenue through more global markets.
Matthew McGahan, chair & CEO, Lottery.com
A year ago, Lottery.com encountered some legal difficulties as it was accused of fraudulent misrepresentation described in a lawsuit filed by a supply chain business in Florida.
Hard Rock Casino Tampa Names Industry Veteran Lu Tsai VP of Asian Player Development
Seminole Hard Rock Hotel & Casino Tampa has reiterated its commitment to fostering a diverse community of players with the appointment of a new vice president of Asian player development. The one up to the task is the experienced Lu Tsai who boasts an impressive career in gaming.
Seminole Enhances Leadership with New Appointment
According to Seminole Hard Rock Hotel & Casino Tampa’s announcement, Tsai will play a key role in nurturing a multicultural community of players. As vice president of Asian player development at the property, he will “lead strategic initiatives aimed at cultivating and expanding player growth for the resort within the Asian communities.”
In this position, Tsai will report directly to Mikhail Gaushkin, Hard Rock Casino Tampa’s senior vice president of marketing.
As mentioned, Tsai is no stranger to casinos, having spent some 25 years in the gaming and hospitality industry. According to Hard Rock Casino Tampa, he will bring an “outstanding blend of experience and expertise” to the casino’s team.
Prior to his appointment as VP of Asian player development at Hard Rock Casino Tampa, Tsai had a stint as director of marketing operations at Mohegan’s INSPIRE Entertainment Resort in South Korea. Before that, he spent almost four years as vice president of casino marketing at Grand Lisboa Palace, Macau.
His earlier experiences include tenures at Ho Tram Resort Casino Vietnam, Galaxy Entertainment Group, and MPEL City of Dreams.
Between 2002 and 2010, Tsai served Harrah’s in a variety of executive roles. His earlier experiences include shorter stints at Las Vegas Hilton and Monte Carlo Resort & Casino.
Tsai Is a Family-Oriented Man
Tsai’s cosmopolitan experiences made him a perfect fit for Seminole Hard Rock Hotel & Casino Tampa, which hopes to popularize its offerings among Asian players and foster meaningful relationships with the community.
The casino property noted that Tsai is a family-oriented person who loves to spend time with his wife and three children. In addition to his passion for gaming and his family, Tsai is also an avid golf player and a person who loves to host relaxing BBQ parties with his loved ones.
The appointee commented on his new role, saying that he is looking forward to serving the casino.
I’m happy to share that I’m starting a new position as Vice President of Asian Player Development at Seminole Hard Rock Hotel & Casino Tampa!
Lu Tsai, VP of Asian player development, Seminole Hard Rock Hotel & Casino Tampa
Hard Rock Casino Rockford Workers Joined Teamsters Union
In other news, slot attendants at Hard Rock Casino Rockford recently voted by an overwhelming majority to join a local union. Roughly 98% of all slot attendants at the property voted in favor of joining Teamsters Local 325, the largest union in the United States, which represents more than 1,000 workers across northern Illinois alone.
The union’s leadership congratulated the workers for showing resilience and voting to join the Teamsters family.
