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 of online sales for state and national lotteries.
HeadsUp is also announcing it has secured partnerships in
The US lottery market in 2021 generated
LotteryHub aims to improve its current offering by expanding its offering into online sales across various US state markets as regulations change over the coming years and improve its market share as it moves into new markets. Globally, LotteryHUB aims to utilize 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 and State based lotteries who see the need to go online and take advantage of the shift in online commerce since he onset of covid. LotteryHUB's software and platform uniquely positions itself as an immediate opportunity to many new global opportunities
Across the US, LotteryHUB has been a go to information platform for players over the past years and HeadsUp aims to transform the platform into a full-fledged online retailer enabling all states to participate in the sale of their games and products online in a safe and secure environment over time as legislation changes.
"Access for global lottery operators utilize software such as LotteryHUB is huge for all of our partners and in times of recession and tough economic conditions, the lottery and gaming sectors see unprecedent growth in market size and the ability for the HeadsUp line of products and services fast tracks the path to massive revenues," commented HeadsUp President and CEO
The global strategy behind the growth and global rollout of the LotteryHub brand aims to support state and national lotteries in creating an increased online presence without the burden of additional software costs, immediate online presence, and the ability to tap into online markets otherwise unavailable to the lottery partner.
This has been a targeted acquisition by HeadsUp and is excited about bringing LotteryHUB into its family of products which will allow the company to launch and supports the larger acquisition strategy of global gaming assets in subsequent deals that are being closed and will be announced subsequently. This business model and corporate finance strategy has been designed by global lottery icon and HeadsUp Chief Business Development Officer
This transaction required neither any upfront cash payment nor any dilution to HeadsUp capital structure as consideration was negotiated and agreed to on an ongoing revenue share basis.
"My decades of working in the lottery business have come to an incredible moment where new regulatory opportunities, technology and a global network of business relationship are converging to position HeadsUp to aggressively acquire strategic assets, close sales and distribution agreements and make a substantial amount of money in the business" stated Hutchinson. "When the market realizes what we have built, I believe this Company will experience massive growth that will translate into enhanced shareholder value that I am very proud to help create along with this exceptional management team. This is a perfect example of the right people, with the right products at the right time.
This is a substantial step for HeadsUp to continue executing on its business plan and management believes these "Crown Jewel" assets are key to the continued strategy of specific acquisitions that will continue to be announced. This is one of 4 Strategic Business Unit's within the HeadsUp group of companies that combined are estimated to generate over
The previously announced corporate roadmap outlines a reverse triangle merger, a Registration Statement and immediate launch of multiple revenue channels in the online gaming, global lottery and media sectors.
This news release contains "forward-looking statements" within the meaning of the
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