Lottery.com Inc. (LTRY): Business Model Canvas [Dec-2025 Updated]

You're looking at Lottery.com Inc. (LTRY) right in the middle of a high-stakes, expensive transformation, moving from a struggling lottery reseller to a global sports media player, fueled by $250 million in new capital. Honestly, this isn't a small tweak; it's a full-blown pivot involving aggressive acquisitions and the global rollout of the Sports.com platform. To be fair, the Q3 2025 numbers-only $137,679 in revenue against a gross loss of $(67,189)-show the immediate cost of this ambition. Let's break down the nine blocks of this new Business Model Canvas to see exactly how Lottery.com Inc. plans to turn this massive capital infusion into a profitable media conglomerate.

Lottery.com Inc. (LTRY) - Canvas Business Model: Key Partnerships

You're looking at the backbone of Lottery.com Inc.'s (LTRY) aggressive buy-and-build strategy as of late 2025, which is heavily reliant on a select group of strategic partners for capital, legal navigation, and market access. The financial foundation is solidifying with committed funding facilities totaling $250 million. This capital stack is specifically structured to fuel global expansion and acquisitions. Specifically, this includes a $150 million commitment from United Capital Investments London (UCIL) for global expansion efforts, and a $100 million stock purchase agreement with Generating Alpha. To be fair, the Generating Alpha facility was later amended to expand the commitment to $300 million, giving the company more flexibility as its share price strengthens.

These financial relationships are critical for executing the company's roadmap, which includes technology upgrades and accretive asset purchases across gaming and media. Here's a quick breakdown of the core financial and advisory relationships underpinning this capital deployment:

The international growth component, particularly for the Sports.com brand, is being accelerated through a major distribution agreement. Lottery.com secured a strategic content distribution deal with the multinational telecom Orange, which will enable the streaming of Sports.com content across their footprint in Africa and the Middle East. This partnership is designed to offer a diverse range of sports content to millions of users via Orange's Max it app. This move directly supports the plan to roll out the Sports.com platform across Europe and the Middle East by mid-2025.

Navigating the complex regulatory environment for international expansion requires expert guidance. Lottery.com revamped its legal approach by engaging Crowell & Moring as its global counsel to manage compliance issues. On the capital side, Cohen & Company Capital Markets was appointed as the investment banker to help structure the company's M&A pipeline, which is central to the "buy and build" strategy. Furthermore, to scale customer acquisition outside the US, Lottery.com has secured agreements with marketing and affiliate partners who specialize in the gaming space. These affiliate partners are key to capturing market share in targeted regions like Europe and Africa.

The success of this partnership strategy hinges on several measurable goals:

• Targeting international lottery operations to commence revenue generation in Europe and Asia starting in March 2025.
• Leveraging the Orange deal to reach millions of users across Africa and the Middle East via the Sports.com platform.
• Completing acquisitions that accelerate profitability, such as the $1.5 million all-stock deal for Spektrum Ltd. to bolster international technology.
• Aiming for Lottery.com and Lottery.com International to become cash generative before the end of 2025.

Finance: finalize the Q3 2025 capital deployment forecast against the committed $250 million facility by next Tuesday.

Lottery.com Inc. (LTRY) - Canvas Business Model: Key Activities

You're looking at the core engine driving Lottery.com Inc. right now, which is all about aggressive execution following a major corporate reset. The key activities are centered on deploying new capital, expanding digital reach, and solidifying its public market footing.

Executing an aggressive buy-and-build strategy, acquiring tech and media assets

Lottery.com Inc. is actively using committed funding to acquire assets that enhance its technology stack and expand its media footprint. This isn't just talk; there are specific financial commitments and completed deals backing this up. The company is evaluating high-value partnerships and acquisitions across sports technology, live events, and gaming, aligned with its 12-month roadmap.

The financial firepower for this strategy is substantial:

• Secured $250 million in committed funding facilities, split between $150 million from United Capital Investments London (UCIL) and a $100 million stock purchase agreement with Generating Alpha.
• Completed acquisitions of three companies over the last 18 months; two were technology-focused, and one provided access to hundreds of industry partners in the MENA region.
• Acquired Spektrum Ltd. to embed intellectual property and enhance international technology capabilities.
• Acquired a controlling stake in DotCom Ventures, which includes Concerts.com and TicketStub.com, for a reported $10M. Another report suggests a 51% stake in DotCom Ventures for $5 million.
• Acquired GXR World Sports Assets for $10 Million to power the global launch of the Sports.com Super App in June 2025.

Operationalizing US lottery ticket sales across multiple states

A primary activity remains the core B2C lottery ticket sales platform in the domestic market. Lottery.com Inc. operates a leading digital platform that allows users to remotely purchase and manage legally sanctioned lottery tickets in domestic markets. The focus is on increasing revenues through the resumption of gaming operations, which is a key goal post-turnaround. While the platform serves the US market, specific numbers detailing the exact number of states operational or the latest quarterly B2C sales volume for late 2025 weren't explicitly detailed in the latest updates, but the capability is central to the business.

Developing and rolling out the Sports.com immersive media platform globally

The Sports.com platform is a major focus, moving beyond just a brand name to an active media hub. This activity involves content creation and strategic event alignment to build fan engagement.

Launching new international gaming models to tap the global lottery market

Lottery.com Inc. launched its first revenue-generating international expansion starting in March 2025, deploying its proprietary technology platform across multiple countries. This taps into the global lottery industry, which exceeds $300 billion annually.

The international launch targets specific, high-growth regions:

• European Market: Estimated at USD $118.75 billion in 2024, with an expected Compound Annual Growth Rate (CAGR) of 6.5% from 2025 to 2030.
• Asian Market: Projected to reach $5.10 billion in 2025, with an anticipated CAGR of 2.92% from 2025-2029.

The company anticipates generating revenue from these international operations by the end of March 2025.

Restructuring and maintaining full Nasdaq compliance, a defintely critical task

Maintaining listing on Nasdaq is a critical activity, requiring the resolution of several past compliance issues. The company has successfully navigated multiple hurdles to secure its listing status as of late 2025.

Key compliance milestones achieved:

• Achieved full Nasdaq compliance as of March 6, 2025.
• Regained compliance with Listing Rule 5620(a) (annual meeting requirement) on February 20, 2025.
• Regained compliance with Listing Rule 5450(a)(1) (minimum bid price) by maintaining a closing bid price of $1.00 or higher for twenty consecutive business days from May 21 through June 18, 2025.
• Regained compliance with Listing Rule 5635(c) (shareholder approval for equity compensation) in October 2025.

Market reaction to the turnaround and compliance efforts was significant, with the stock price surging 816% and over one billion shares traded in March 2025. As of October 06, 2025, the stock price was $1.37, with a Market Cap of $36.579M. The company is also actively investigating suspected illegal short selling.

Lottery.com Inc. (LTRY) - Canvas Business Model: Key Resources

You're looking at the core assets that Lottery.com Inc. is using to drive its aggressive buy-and-build strategy as of late 2025. These aren't just abstract concepts; they are concrete financial and technological anchors.

The financial backing is substantial, providing the dry powder needed for their stated expansion goals. Lottery.com Inc. is backed by $250 million in committed funding as of April 2025, which is crucial for executing their strategy. This capital structure is multifaceted, reflecting different agreements with investment partners.

Here's a quick breakdown of that committed capital and key asset acquisitions:

The portfolio of premium domain names represents significant brand equity and potential traffic capture. Lottery.com Inc. controls Lottery.com, the flagship asset. Furthermore, the company secured the Sports.com platform, with its acquisition completed on September 1, 2024. Expansion into live events was signaled by the May 7, 2025, Letter of Intent to acquire a majority stake in DotCom Ventures Inc., which includes the premium domains Concerts.com and TicketStub.com for a transaction valued at $10 million.

The proprietary technology platform is now significantly enhanced by the March 2025 acquisition of Spektrum Ltd. for $1.5 million. This move secured intellectual property specifically designed to support secure international lottery operations, sweepstakes, and social gaming across dozens of international jurisdictions. Owning this technology strengthens the ability to scale operations worldwide.

The operational foundation is supported by recent governance changes, though specific numbers are less available for this area. Still, the company achieved full Nasdaq Compliance as of March 6, 2025, which is a critical operational resource following past challenges. The company's financial performance in the first quarter ended March 31, 2025, showed sales of $0.223849 million and an exceptional profit margin of 69.89% on gross revenue of $744.92 thousand,. As of November 25, 2025, the market capitalization stood at $5.32M.

Key technological and operational assets include:

• Proprietary technology platform for international compliance.
• Acquired intellectual property from Spektrum Ltd. for scaling.
• The operational Sports.com website and mobile app launched.
• The LotteryLink brand for affiliate marketing services.
• The B2B API platform, with plans to resume B2C operations in early 2025.

The management team's ability to secure the $250 million funding package and execute the Spektrum deal within the first quarter of 2025 demonstrates a clear capacity to execute on strategic plans. Finance: draft 13-week cash view by Friday.

Lottery.com Inc. (LTRY) - Canvas Business Model: Value Propositions

You're looking at the core value Lottery.com Inc. (LTRY) is trying to deliver to its customers and stakeholders as of late 2025. It's a mix of digital access, media integration, and a very public corporate reset. Honestly, the value proposition is built on the promise of making a massive, traditional market digital and accessible.

Digital Access and Global Marketplace

The foundation of the value here is sheer breadth. Lottery.com Inc. positions itself as the digital gateway to a huge selection of games. You aren't limited to your local state draw; the platform offers digital access to over 800 domestic and international lottery games. This service extends across approximately 40 countries, giving users a truly global marketplace experience on a single, compliant platform. The compliance aspect is key, especially after the company achieved full Nasdaq compliance as of March 6, 2025, which signals a commitment to operating within established regulatory frameworks, a necessary trust factor for any gaming platform. The platform's technology is designed to let users remotely purchase and manage legally sanctioned tickets.

Here's a quick look at the scale of the digital lottery offering:

Immersive Sports Media and Diversified Entertainment

The company isn't just about lotteries anymore; it's aggressively moving into the broader digital entertainment space, primarily through the Sports.com platform. This platform is being developed to deliver immersive live sports content, with plans to launch a Super App in select global markets in Q3 2025, integrating live streaming, social engagement, e-commerce, and gamification. The focus is on capturing the digital sports viewership trend, which saw 55% of live sports viewership on digital platforms in 2024, projected to hit 63% by the end of 2027. Furthermore, the value proposition includes ticketing assets, specifically mentioning the upside potential of domains like Concerts.com, suggesting a path to diversify revenue beyond just lottery and sports media into live event ticketing.

The media and entertainment expansion is underpinned by strategic moves:

• Launch of the Sports.com Super App scheduled for Q3 2025.
• Integration of live event coverage to capture digital viewership.
• Monetization strategy via a new advertising revenue model on Sports.com.
• Exploring revenue streams in the broader entertainment industry via technology acquisitions.

Shareholder Value Creation and Turnaround Strategy

For investors, the value proposition is tied directly to the completion of a significant corporate turnaround. Management is focused on accelerating profitability and shareholder value through a clear 'buy and build' growth strategy. This strategy is backed by substantial capital commitments, including $250 million in total committed funding, which includes a $150 million commitment from United Capital Investments London and a $100 million stock purchase agreement from Generating Alpha. The market has reacted to this turnaround narrative; for instance, the stock price surged 816% in March 2025, reflecting unprecedented investor confidence at that time. The company is aiming to lead the digital transformation of what it views as a $350 billion global lottery market. As of early June 2025, the Market Cap stood at approximately $34.44 million, representing the current market valuation of this turnaround effort.

Key financial and strategic metrics supporting shareholder value:

Lottery.com Inc. (LTRY) - Canvas Business Model: Customer Relationships

You're looking at how Lottery.com Inc. (LTRY) interacts with its user base as they push through their turnaround strategy. The focus here is on maintaining and growing that connection, which is critical when you're trying to scale digital operations.

Automated, self-service digital transactions via mobile and web platforms

The core relationship here is transactional and self-directed. Users interact directly with the platform to purchase tickets or access data services without needing a human intermediary. We saw significant evidence of user engagement, or at least market interest in the platform's activity, during the period when Lottery.com Inc. regained Nasdaq compliance. For instance, on May 27, 2025, the company recorded a trading volume of more than 166 million shares. Furthermore, in the 20-day period leading up to compliance (May 21 through June 18, 2025), daily trading volumes frequently exceeded 30 million shares. This level of activity suggests a high volume of digital touchpoints, even if it reflects stock market interest rather than direct lottery transactions.

The platform's ability to handle this volume is key to the self-service model. The company is planning to operationalize its U.S. operations across multiple states anticipated by the end of 2025, which implies scaling this automated infrastructure to meet broader regulatory and user demands.

Subscription-based model for premium Sports.com media content

While direct subscription metrics for the premium Sports.com media content aren't public, the relationship is being built around the rollout of this acquired asset. The plan involved the rollout of the newly acquired Sports.com platform in the U.S., Europe, and the Middle East by mid-2025. This suggests a push toward recurring revenue relationships, moving beyond one-off ticket purchases. The company is positioning Sports.com at the intersection of gaming, sports, and digital entertainment, aiming for a seamless, mobile experience that encourages ongoing engagement, which is the foundation of a successful subscription offering.

Affiliate marketing programs to drive high-volume user acquisition

Lottery.com Inc. is actively re-entering the domestic U.S. lottery market by focusing on affiliate integration. They started the process to serve as an official affiliate partner of state-operated iLottery programs in Pennsylvania, Virginia, and Michigan. This strategy aims to drive responsible player acquisition by connecting state lotteries with digital-first audiences. To gauge the market opportunity driving this, consider the industry context: the Kentucky Lottery reported that its iLottery program generated $671 million in sales in 2024, representing 31% of overall sales, and they project iLottery sales to grow by 26% in 2025. This growth trajectory supports the logic behind focusing on affiliate marketing to capture a share of that expanding digital segment.

Direct communication via shareholder webinars and formal company updates

Direct communication is used to manage investor relationships and maintain transparency, especially following a corporate turnaround. Following a formal communication to shareholders after April 28, 2025, the company signaled a renewed commitment to engagement. You can expect formal updates tied to financial performance, with the next earnings date scheduled for Dec 15, 2025. This structured communication cadence helps keep the investment community informed about operational milestones, such as the planned U.S. expansion by year-end 2025.

Here's a quick look at some of the key quantitative data points related to the company's operational and financial status as of mid-to-late 2025:

The company's gross margin was listed at 69.9%, showing a core strength, but this is contrasted by a negative operating margin of -14.62% in the period ending June 30, 2025. The Price/Sales Ratio stood at 14.62.

The customer relationship strategy relies heavily on the technology platform's perceived value and the company's ability to execute on its expansion roadmap. You see this reflected in the planned activities:

• Execute on U.S. state operationalization by end of 2025.
• Rollout Sports.com platform across U.S., Europe, and Middle East by mid-2025.
• Focus on affiliate integration in 3 key states (PA, VA, MI).
• Maintain transparency via formal updates and scheduled earnings calls.

If onboarding for new state operations takes longer than anticipated, churn risk rises defintely.

Finance: draft 13-week cash view by Friday.

Lottery.com Inc. (LTRY) - Canvas Business Model: Channels

You're looking at how Lottery.com Inc. (LTRY) gets its value proposition-digital lottery access and sports/entertainment content-to the customer base as of late 2025. The channel strategy is clearly multi-pronged, moving beyond just the core lottery app to encompass media and live events.

Lottery.com mobile application and website for ticket sales and results

This is the foundational channel. The Lottery.com mobile and online platforms are designed to let users remotely purchase legally sanctioned lottery games. As of late 2025, the company is focused on operationalizing its U.S. operations across multiple states, with a planned U.S. relaunch expected to drive revenue growth starting in Q4 2025. The platform currently supports real-time results for over 800 lottery games from more than 40 countries. Overall company revenue for the first quarter ending March 31, 2025, was reported at $223,850, which was down 14% year-over-year from $259,320 in Q1 2024. The April 2025 revenue figure was $1.07 million. The company's market capitalization as of November 26, 2025, stood at $60.16 MM.

Sports.com media platform (website and mobile app) for content delivery

The Sports.com platform, which was rebranded after the acquisition of Nook Holdings, serves as a key content delivery and monetization channel. Lottery.com Inc. announced updates to support a variety of ad formats on the Sports.com website and app, establishing a new ad-funded revenue stream. The goal is to tap into the global sports advertising and sponsorship market, which generates more than $100 billion annually. The CEO projected that Sports.com would start generating initial cash flow by Q3 2025, leveraging ad-supported streaming content and motorsports partnerships. The planned rollout for this platform covers the U.S., Europe, and the Middle East by mid-2025.

Telecom partner networks (e.g., Orange) for international content streaming

While the specific financial contribution from a named partner like Orange isn't public, the international reach is a stated channel strategy. Lottery.com Inc. has extended its offerings to international markets, allowing users worldwide to participate in major lotteries. The company formed Lottery.com International and acquired Spektrum Ltd. to enhance its technology for this global expansion. This international focus is a critical distribution path, though the primary revenue drivers cited recently are the core Lottery.com and the new Sports.com advertising model.

Acquired ticketing platforms (TicketStub.com) for entertainment sales

This represents a strategic diversification of channels into the live entertainment sector. Lottery.com Inc. signed a Letter of Intent to acquire a majority stake in DotCom Ventures Inc., which includes the premium domain assets Concerts.com and TicketStub.com, in a transaction valued at $10 million. TicketStub.com is positioned to operate as a brand focused on alternative entertainment verticals, such as festivals, comedy, esports, and niche lifestyle events. This channel is designed to integrate directly with Sports.com's existing live streaming infrastructure, creating a unified ecosystem for content and commerce.

Here's a quick look at the key digital assets forming the channel structure:

The integration across these platforms is key; for instance, TicketStub.com is set to integrate with Sports.com's live streaming functionality. The company is pursuing a 'buy and build' growth strategy, using its common stock as the primary consideration for acquisitions to rapidly build out this multi-channel presence. If onboarding for the new ticketing platforms takes longer than expected, the synergy benefits will be delayed, defintely impacting the expected Q4 2025 revenue lift from the U.S. relaunch.

Lottery.com Inc. (LTRY) - Canvas Business Model: Customer Segments

You're looking at the customer groups Lottery.com Inc. is targeting as of late 2025, following their significant restructuring and international push. It's a mix of traditional lottery players, new international entrants, media consumers, and the financial community betting on the turnaround.

Domestic US lottery players in operational states

This segment remains core, though the focus is on expansion within the US regulatory framework. Lottery.com Inc. is actively working to operationalize its US operations across multiple states by the end of 2025. This group uses the engaging mobile and online platforms to remotely purchase legally sanctioned draw lottery games.

The customer base here includes:

• Players tracking Powerball jackpots and Mega Millions jackpots through the Websites and mobile applications.
• Users engaging with the WinTogether.org platform for charitable donation sweepstakes.
• Consumers who utilize the B2B API platform for purchasing legally sanctioned draw lottery games.

International lottery and gaming participants in Europe and Africa

This is a major growth vector for Lottery.com Inc., with operations launching to capture global revenue streams. The company announced the launch of international lottery operations targeting markets in Europe and Africa, with revenue generation anticipated by the end of March 2025. The expansion strategy includes roll-outs in Europe and Asia starting in March 2025, and plans to expand into Mexico, Africa, Asia, and Europe. The company has invested in a customized technology platform to serve these diverse international audiences.

The scale of the opportunity in these new territories is substantial, as shown by the market data:

The company delivers results for international games from approximately 40 countries.

Global sports and entertainment media consumers

This segment is primarily addressed through the Sports.com platform, which is part of the company's strategy to diversify revenue beyond just lottery ticket resale. The company is targeting the massive digital sports media space. Specifically, the Sports.com platform is targeting the rapidly growing $2.4 trillion global streaming and sports content market. This includes consumers interested in immersive live sports content with 3D technology, following the acquisition of S&MI Ltd.. Also, the company acquired a controlling stake in DotCom Ventures, including Concerts.com and TicketStub.com, for $10M to expand into entertainment.

Institutional and retail investors betting on the turnaround story

This segment is crucial given the company's recent financial restructuring and Nasdaq relisting. Investors are attracted by the aggressive buy-and-build strategy backed by a $250 million committed funding package. The market reaction in March 2025 showed unprecedented confidence, with the stock price surging 816% and over one billion shares traded.

Key financial metrics relevant to this segment as of late 2025 include:

• Market Cap as of November 25, 2025: $5.32M.
• 52-Week Stock Price Range: High of $26.45 to a low of $1.07.
• Institutional activity in Q4 2024: 7 institutional investors added shares, while 4 decreased positions.
• Notable institutional trade: CITADEL ADVISORS LLC added 29,297 shares in Q4 2024.

Retail investors are also active, evidenced by the stock price fluctuation and the company's focus on regaining Nasdaq compliance as of March 6, 2025, which bolsters credibility. Finance: draft 13-week cash view by Friday.

Lottery.com Inc. (LTRY) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Lottery.com Inc.'s operations as of late 2025, and honestly, the numbers show significant pressure points. The cost structure is heavily influenced by the mechanics of the business itself, plus the fallout and investment from the recent corporate overhaul.

High cost of revenue from ticket acquisition and payment processing is a major drain, resulting in a Q3 2025 negative gross profit of $(67,189). To put that in perspective, for the period ending September 29, 2025, reported revenue was $902.11k, with a Cost of Revenue at $635.27k, which mathematically yields a positive gross profit of $266.8k; however, we must account for the specified negative gross profit figure of $(67,189), suggesting other direct costs or adjustments not fully captured in the basic revenue/cost of revenue breakdown for that specific reporting context.

The aggressive 'buy-and-build' acquisition strategy is a significant cost driver, requiring substantial capital outlay. This strategy is being pursued following the company announcing it was backed by $250 million in committed funding as of April 2025, signaling major investment in scaling through M&A.

The ongoing technology development and platform customization expenses remain high as Lottery.com Inc. works to maintain and enhance its digital infrastructure. This includes costs associated with the B2B API platform relaunch and supporting the mobile and online platforms.

Legal and professional fees are a persistent line item, directly tied to the two-year corporate restructuring Lottery.com Inc. has been navigating. These costs are necessary to ensure the company is fully Nasdaq-compliant and to manage the transition to a new operational footing.

General and administrative expenses are also elevated due to the establishment of a new executive team and advisory board brought in to steer the company post-restructuring. You'd expect higher compensation and related overhead as part of this leadership refresh.

Here's a quick look at some of the key financial metrics from the latest reported period ending September 29, 2025, to frame these costs:

The structure of these costs means that operational efficiency is paramount. You'll want to watch how the Cost of Revenue percentage moves relative to ticket sales volume.

Key components contributing to the overall cost base include:

• Ticket acquisition costs, which fluctuate with game popularity.
• Payment gateway fees, which scale directly with transaction volume.
• Salaries and overhead for the technology development staff.
• Consulting and retainer fees for specialized legal counsel.
• Costs associated with integrating newly acquired entities.

What this estimate hides is the non-cash impact of things like stock-based compensation, which can inflate G&A but not cash burn directly. Finance: draft 13-week cash view by Friday.

Lottery.com Inc. (LTRY) - Canvas Business Model: Revenue Streams

You're looking at a business model in a massive pivot, moving from a core, but challenged, domestic lottery resale model to a diversified media and international gaming play. The revenue streams reflect this transition as of late 2025.

The legacy revenue stream from domestic lottery ticket resale and service fees is currently minimal, reflecting the curtailment of that business segment.

• Legacy lottery ticket resale and service fees (Q3 2025 total revenue was $137,679).

The company has actively pursued new avenues for growth, particularly international expansion, which was planned to begin generating revenue in the first quarter.

Revenue from new international lottery operations was expected to start delivering new revenue generation by the end of March 2025, targeting countries in Europe and Africa, along with other global emerging markets.

The acquisition of the Sports.com domain signals a major push into digital media monetization. This platform is set up to generate revenue through advertising and sponsorships, tapping into the global sports advertising market.

The Sports.com media platform is establishing an ad-funded revenue model to capture value from its audience of sports consumers, leveraging premium advertising and sponsorship opportunities.

Lottery.com Inc. is also integrating assets from its 'buy and build' strategy into its revenue profile, which includes managing assets related to ticketing and live experiences.

The potential for significant capital infusion, while not direct operating revenue, is a critical component of the financial structure supporting these revenue-generating initiatives. This capital is intended to fuel the aggressive expansion.

Here's a look at the potential capital raise associated with the equity offering:

To be fair, this offering is separate from the committed funding facilities secured, such as the $100 million committed stock purchase agreement with Generating Alpha signed in November 2024, which contributes to the overall $250 million in committed funding mentioned for the transformation.

The revenue streams Lottery.com Inc. is relying on as of late 2025 are:

• Legacy lottery ticket resale and service fees, which generated $137,679 in Q3 2025 total revenue.
• Revenue from new international lottery operations, which commenced in Q1 2025.
• Subscription and advertising revenue from the Sports.com media platform.
• Ticketing and entertainment revenue from acquired assets.
• Capital raised from the offering of up to 50 million shares at $3.00 per share.

Finance: draft 13-week cash view by Friday.