Lottery.comAt the intersection of gaming, sports and entertainment, a tech veteran has confirmed that it has signed a deal to acquire Nook holdings limitedA Dubai -based company described as “leading sports, health and welfare incubator”.
$ 2.5m acquisition
In its official release, Lottery.com said it signed a revised stock purchase agreement (SPA) for employed acquisition. Under the agreement, the former company will pay $ 2.5 million cash to get a majority stake in the UAE sports and wellness business.
The agreement is expected to be closed or closure first June 30, 2025After the end of the deal, lottery.com will do it himself A 90% control stake In the nook.
According to the announcement, the acquisition highlights lottery.com’s “strategic commitment to global development and innovation in sports and welfare”.
For reference, Nukkad has cement itself as the foundation stone of sports and welfare in Emirates. Established by Ravi Bhusari, the company wants to help small businesses to operate, obtain licenses and register for VAT. Dubai’s DMCC free zone and a special partnership with its high-fascination location in a JLT has strengthened the condition of the street as a Go-Two destination for sports entrepreneurs in the UAE.
After the acquisition of Lottery.com’s nook, the former company will integrate the UAE business in its Sports.com brand. At the same time, Lotery.com will transform its international sports business into a JLT from within the NOOK premises, gateway for sports innovation, investment and integration.
Lotery.com concluded that the location would continue to work as a co-functioning location and a business incubator.
A decisive moment for the nook
The founder of the street, Ravi BhusariComment on the deal, it was called the “defined moment” for the company, which his team has worked hard to make. He said that by joining the army with Sports.com, members of the streetj will unlock many new opportunities.
Partnership with Sports.com, a visionary brand with global ambitions, unlocks tremendous opportunities for our members.
Ravi Bhusari, Founder, Nukkad
Matthew McGahanLottery.com and Sports.com’s chair and CEO were pleased with this deal. He appreciated the street as “the community of sports and welfare entrepreneurs” and said that its values are aligned with the sports.com brand.
We are already excited to work closely with the businesses working inside the nook and help them rapidly, clever and embrace a global mindset.
Matthew McGahan, Chairman and CEO, Lottery.com
last but not least, Mark birchamLottery.com director and head of the acquisition on Sports.com said that the quality of the streetad was definitely worth waiting for six months to complete the deal. He said: “We are ready to roll our sleeves and are starting to support these companies, with everything to offer sports.com – from networking and licensing to potential investment and acquisition. This is just the beginning.”
