HeadsUp Entertainment Completes Global Digital Lottery Transaction With LotteryHub
CALGARY, Alta., June 30, 2022 /PRNewswire/ – HeadsUp Entertainment International Inc. (OTCPINK: HDUP) is pleased to announce that it has now taken full control of the LotteryHub platform, which currently serves more than 4 million U.S. users as a lottery information platform.
In the lead up to the transaction, HeadsUp has been active in securing global partnerships to expand the LotteryHub brand globally and strategically position it as the leader in online sales for state and national lotteries.
HeadsUp also announces that it has entered into partnerships in Peru, Brazil, Mexico, Eastern Europe and East Africa (including Nigeria) and has ongoing discussions to enable national and state lottery partners to enhance their online offerings and sell official tickets worldwide. Secure partnerships will give LotteryHub immediate access to an international customer base of 120 million upon release of existing partnerships
The US lottery market in 2021 generated $94.9 billion revenue from the sale of lottery tickets. The global lottery market currently generates approximately $350 billion in turnover and should reach $450 billion by 2027. LotteryHub aims to help lottery partners with their online growth strategy with its integrated digital portal as a digital lottery concierge service.
LotteryHub aims to improve its current offering by expanding its offering to online sales in various US state markets as regulations change in the coming years and to improve its market share as it enters new markets. Globally, LotteryHUB aims to use the success of its online presence to expand the brand globally into new markets to act as an online retailer and software platform for national lotteries and states that see the need to go online and take advantage of online change. trade since the start of covid. LotteryHUB’s software and platform is uniquely positioned as an immediate opportunity for many new global opportunities
Across the United States, LotteryHUB has been a go-to information platform for players over the past few years and HeadsUp aims to transform the platform into a full-fledged online retailer allowing all states to participate in selling their games and products online in a safe and secure environment over time as legislation evolves.
“Access for global lottery operators using software such as LotteryHUB is enormous for all of our partners and in times of recession and challenging economic conditions, the lottery and gaming industries are experiencing unprecedented growth in the size of the market and capacity of the HeadsUp product and service line is accelerating the path to massive revenue,” commented the President and CEO of HeadsUp. Doug Wilson.
The global strategy behind the growth and global rollout of the LotteryHub brand aims to help state and national lotteries create an increased online presence without the burden of additional software costs, an immediate online presence and the ability to access online marketplaces otherwise unavailable to the Lottery Partner.
This is a targeted acquisition by HeadsUp and is delighted to bring LotteryHUB into its product family, which will allow the company to launch and support the broader acquisition strategy of global gaming assets in the subsequent agreements to be concluded and announced at a later date. This business model and corporate funding strategy was designed by the global lottery icon and HeadsUp Business Development Director Marc Hutchinson.
This transaction did not require any upfront cash payment or dilution of HeadsUp’s capital structure, as the consideration was negotiated and agreed on an ongoing revenue sharing basis.
“My decades of working in the lottery industry have come at an incredible time when new regulatory opportunities, technology and a global network of business relationships are converging to position HeadsUp to aggressively acquire strategic assets, close sales deals and distribution and realize a substantial amount of the money in the business,” Hutchinson said. “When the market realizes what we’ve built, I believe this company will experience massive growth that will result in increased shareholder value than I am very proud to help create with this exceptional management team. It’s a perfect example of the right people, with the right products at the right time.
This is an important step for HeadsUp as it continues to execute on its business plan and management believes these “Crown Jewel” assets are critical to pursuing the strategy of specific acquisitions which will continue to grow. be announced. It is one of 4 strategic business units within the HeadsUp group of companies which, combined, are expected to generate more than $51.7 million of revenue in year 1 with business plan projections of more than $400 million in year 5 of operation. This closing and a subsequent series of other closings will create a total asset base and contract revenue model to qualify for a full listing on NASDAQ.
The previously announced roadmap outlines an inverted triangle merger, registration statement and immediate launch of multiple revenue channels in the online gaming, global lottery and media sectors.
About HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc. is a global gaming operator and media company specializing in online gaming, online poker, esports, sports betting, online lottery, mobile 50/50, charity fundraising, software and blockchain-based payment solutions.
This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. When used in this release, words such as “estimate”, “expect”, “anticipate “, “project”, “expected”, “anticipated” and similar expressions are intended to identify forward-looking statements which, by their very nature, are not guarantees of the future operational or financial performance of HeadsUp Entertainment International Inc. and are subject to risks and uncertainties. cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
SOURCE HeadsUp Entertainment International Inc.