Lottery.com to Acquire 90% of Dubai's Nook Holdings for $2.5M to Launch Global Sports.com Hubs
Lottery.com Inc. (NASDAQ: LTRY) has announced a strategic move to acquire a 90% stake in Nook Holdings Limited, a Dubai-based sports and wellness incubator, in a $2.5 million all-cash deal. This acquisition is the first step in a broader global strategy to launch a network of Sports.com-branded incubation hubs, with Nook set to become the platform's regional base for the Middle East
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Lottery.com Acquires UAE Incubator in $2.5M Deal
In a press release, Lottery.com confirmed it has signed an amended stock purchase agreement to acquire a 90% ownership stake in Nook Holdings. The transaction, valued at approximately $2.5 million, is an all-cash deal and is expected to close on or before June 30, 2025. This move comes shortly after the dismissal of a lawsuit against Lottery.com in Texas, allowing the company to refocus on strategic execution and growth.
The Strategic Blueprint: Launching Sports.com Hubs
This acquisition is the cornerstone of a new "scalable blueprint" for Lottery.com's global expansion under its Sports.com brand. Following the acquisition, Nook Holdings will be rebranded as a Sports.com hub, serving as a launchpad for early-stage businesses across the sports, health, and entertainment sectors.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, described the strategy: “This is not a one-off transaction – this is a scalable blueprint. We operate a modular model that enables us to bolt on high-potential, cash-generative businesses that expand both brands quickly and globally.”
Nook Holdings: A Profitable Launchpad
Founded by Ravi Bhusari, Nook Holdings is a profitable sports and wellness incubator located at One JLT in Dubai. It provides co-working spaces and essential business support, including licensing and insurance, for professionals and startups in the sector. According to company figures, Nook generated $354,000 in net profit in FY 2024 and projects a 38% growth to $490,000 in 2025.
Global Expansion Plans
The Nook acquisition marks the first of several planned Sports.com hubs. The company has already announced its next steps:
A second hub is scheduled to open in Q4 2025 in Al Quoz, Dubai.
Additional locations have been identified in key markets including Riyadh, Jeddah, Abu Dhabi, and the Greater Miami area.
Leadership Vision
The partnership has been met with enthusiasm from both sides. Ravi Bhusari, Founder of Nook, commented: “This will be a defining moment for Nook... Partnering with Sports.com, a visionary brand with global ambitions, unlocks tremendous opportunities for our members.” The deal structure, which leaves 10% of ownership with the original stakeholders, suggests Lottery.com values this continuity to preserve Nook's existing business momentum.
About Lottery.com's Transformation
This move is part of Lottery.com's broader transformation from a gaming-focused company into a diversified technology firm at the intersection of gaming, sports, and entertainment. The acquisition of Nook will enable Lottery.com to operate segments of its international sports business from the Dubai premises, creating a gateway for sports innovation and investment in the region.
Looking Ahead
Lottery.com's acquisition of Nook Holdings is a strategic play to build a global, cash-generating ecosystem under its Sports.com brand. By establishing a physical presence in high-growth markets like the UAE and Saudi Arabia, the company is positioning itself to nurture and potentially invest in the next wave of sports, health, and wellness startups.
Source: Wamda