Lottery.com announced that ticket sales will resume to help its Texas-based retail partners.
Lottery.com reported that it had sold over seven million Texas lottery tickets in its first week.
Lottery.com has also entered into an exclusive agreement with International Gaming Alliance to provide official Texas lottery ticket in the Dominican Republic.
IGA’s EPOS system will be integrated with Lottery.com ticket management software under the terms of this agreement. IGA’s retail and online distribution system in Dominican Republic provides access to over 1,000 retail distribution outlets.
Lottery.com anticipates that it will begin selling tickets in May 2023 after the testing is completed.
Mark Gustavson, the new Lottery.com CEO said: “We’re making tremendous progress as a business and this is a testament to our ability to operate with speed and to our employees that we could fulfill this order within such a brief timeframe after nearly nine months without service.” We are now able to provide tickets.
Our production capacity via our retail partners network has tripled, and our machines and staff capacity have been increased to meet the needs of our customers. We will announce our agreement with IGA Dominican Republic, and hope to have more deals announced in the future.
Erick Caceres said that the Dominican Republic’s managing partner, Dominican Republic Operations, added: “This partnership provides an exciting opportunity to lottery enthusiasts to play one of the US’s most popular games through authorized retailers, such as our Domloteria App and partner retailers.”
Future prospects
This news is a great boost for Lottery.com which has suffered a few setbacks recently. Last month, the TinBu founders, John Brier, and Bin Tu filed a suit alleging Lottery.com had failed to pay them the promised compensation following the acquisition of the business.
Gustavson, the CEO of the company was named in February. The business has been struggling with issues such as non-compliance to Nasdaq Listing Rules.
Nasdaq issued a warning to Lottery.com in December for the delayed filing of their third quarter results. Lottery.com had to submit its quarterly report to the US Securities and Exchange Commission via Form 10-Q, but it said that it was unable to because it hadn’t yet finished an assessment of its ongoing accounting control review.
The same operator gave the exact reason earlier this year for failing to file its results by the deadline.
Gustavson stated that “since my arrival, compliance with Nasdaq Listing Rules was an absolute priority.” In this respect, our new management team, in conjunction with other advisors, is improving our reporting and disclosure controls and overhauling our internal control systems.
Our business is on track and our future prospects are positive.
