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LOS ANGELES, April 06, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities, today announces that Tony DiMatteo, CEO and co-founder of Lottery.com, a next generation platform where consumers can play the lottery online, recently appeared on The Dealmaker Show, a fast-paced and high-energy forum hosted by bestselling author Oren Klaff.
To hear the full podcast, visit: The Dealmaker Show
Lottery.com recently entered into a definitive agreement to become a public company through a business combination with special purpose acquisition company Trident Acquisitions Corp. (NASDAQ: TDAC). Once the transaction is complete, the combined company will be trademarked as Lottery.com, with its common stock to remain listed on Nasdaq under ticker symbol “LTRY”.
Klaff kicked off the interview by diving headfirst into Lottery.com’s operations, asking DiMatteo how Lottery.com’s business compares with similar companies in their space.
“I see us as sort of an entertainment company or a media company, really. We let people play the games that they already like right now, and they can do that from their phones,” DiMatteo stated. “All we’re doing is taking something that’s a legacy industry which is paper based… and making that available to everybody, through their phones or online.”
“When we started… it was incredibly hard in so many different ways… One challenge was ‘How do we do this? What’s a legal way to play the lottery online?’ That was a huge hill to climb,” DiMatteo added. “When I met Matt [Clemenson], my co-founder, our thesis was to build things that should exist or are inevitable to exist… We built some very cool tech in totally unrelated spaces, and we got some patents on that and it was awesome. But once we found the lottery, it was like ‘this is the biggest pie that we can imagine’ and we had an opportunity… We’re the right combination of smart, stupid and stubborn to go and do this. Everybody told us originally that there’s no way you can do this, nobody is going to allow you to do this, no state is going to allow you to operate, but we were smart enough to understand the world and see what’s possible, dumb enough to just ignore everybody who told us ‘no’ and stubborn… we said, ‘we’re going to make this happen’.”
“We started about six years ago. It took us five years to get a few states open, basically meaning that you can actually play the lottery from your phone,” he continued. “In the last year, we’ve opened up seven [additional] states… Once the [COVID-19] quarantine happened, people could not walk in with paper money and walk out with a paper ticket. The states realized ‘we cannot continue business as usual; we have to go online, we have to modernize’… [Lottery.com] is in 12 states now; we are looking to open up more this year. Also, we’re very aggressive on international expansion… Our long-term vision is to become a global marketplace for games of chance.”
Throughout the interview, DiMatteo provided an extensive overview of the story behind Lottery.com’s founding, reflected on stories of past lottery winners and highlighted the company’s charitable efforts through its WinTogether.org initiative.
Lottery.com is an Austin, Texas-based company enabling consumers to play state-sanctioned lottery games from their home or on the go in the U.S. and internationally. The company works closely with state regulators to advance the lottery industry, providing increased revenues and better regulatory capabilities, while capturing untapped market share, including millennial players. Lottery.com is also gamifying charitable giving to fundamentally change how nonprofits engage with their donors and raise funds. Through its WinTogether.org platform, Lottery.com offers charitable donation sweepstakes to incentivize donors to take action by offering once in a lifetime experiences and large cash prizes. For more information, visit the company’s website at www.lottery.com
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Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, regarding the proposed business combination between Trident and Lottery.com, Trident and Lottery.com’s ability to consummate the transactions, the benefits of the transactions, Lottery.com’s estimated growth, operational and state expansion, and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Lottery.com disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Lottery.com cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Trident or Lottery.com. In addition, Lottery.com cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Trident or Lottery.com following announcement of the proposed business combination; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Trident, or other conditions to closing in the business combination agreement; (iv) the risk that the proposed business combination disrupts Lottery.com’s current plans and operations as a result of the announcement of the transactions; (v) Lottery.com’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Lottery.com to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) risks related to the rollout of Lottery.com’s business and the timing of expected business milestones; (viii) Lottery.com’s dependence on obtaining and maintaining lottery retail licenses or consummating partnership agreements in various markets; (ix) Lottery.com’s ability to maintain effective internal controls over financial reporting, including the remediation of identified material weaknesses in internal control over financial reporting relating to segregation of duties with respect to, and access controls to, its financial record keeping system, and Lottery.com’s accounting staffing levels; (x) the effects of competition on Lottery.com’s future business; (xi) risks related to Lottery.com’s dependence on its intellectual property and the risk that Lottery.com’s technology could have undetected defects or errors; (xii) changes in applicable laws or regulations; (xiii) the COVID-19 pandemic and its effect on Lottery.com and the economy generally; (xiv) risks related to disruption of management time from ongoing business operations due to the proposed business combination; (xv) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; and (xvi) the possibility that Lottery.com may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that Trident has filed and will file from time to time with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Trident’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Participants in the Solicitation
Trident and its directors and officers may be deemed participants in the solicitation of proxies of Trident's shareholders in connection with the proposed business combination. Lottery.com and its officers and directors may also be deemed participants in such solicitation. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Trident's executive officers and directors in the solicitation by reading Trident's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and the Proxy Statement and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Trident's participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement relating to the business combination when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.