Big Plays in the Online Gambling Space
NetworkNewsWire Editorial Coverage:
NEW YORK, April 9, 2021 /PRNewswire/ -- Before COVID-19 transformed the world, many sectors were already moving toward digital adoption and adaption; the global pandemic has hastened that transition in many ways. The world revolves around smartphones, laptops, computer and digital devices as almost anything can be done online—from seeing a doctor to attending school. Even as hope for the pandemic ending surges, the trend to live life online is likely here to stay. The founders of Lottery.com (Profile), which recently entered a definitive merger agreement with Trident Acquisitions Corp. (NASDAQ: TDAC) to become a publicly listed company, recognized the shifting trend years ago and were pioneers in addressing the untapped online global lottery market. The company has found a way to combine blockchain with other cutting-edge technology to provide at-home lottery participation, with the end goal of being a leader in the huge lottery and sports betting markets. Now the company is timing its entrance into another hot public market: investor appetite for special purpose acquisition companies, or SPACs. The gambling space could see unprecedented growth as the pandemic eases and the economy recovers. Some of the big players in the space have online options and are looking to benefit from all things digital. Boyd Gaming Corporation (NYSE: BYD) offers B Connected Online, a robust, attractive online player community. Caesars Entertainment Inc. (NASDAQ: CZR) has Caesars Casino & Sportsbook where users can participate in world-class casino games and wager on sports. Wynn Resorts Limited's (NASDAQ: WYNN) WynnBET is a premier casino and sports betting app that was just awarded an online sports betting permit in Virginia, and Las Vegas Sands Corp. (NASDAQ: LVS) is reportedly eyeing online betting opportunities.
- Valued at $398 billion, the global lottery market tops out at more than the SaaS, video games and film industries combined.
- Lottery.com has announced a definitive agreement to become a public company through a business combination with Special Purpose Acquisition Corporation (SPAC) Trident Acquisitions Corp.
- The company has created a suite of high-margin lottery products, with operations in 12 U.S. states and plans for expansion.
- Future gross revenue forecasts estimate $71 million in 2021, $279 million in 2022 and $571 million in 2023.
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