$HDUP HeadsUp Entertainment Closes Global Digital Lottery Transaction with LotteryHubPress Release | 06/30/2022 HeadsUp Entertainment Closes Global Digital Lottery Transaction with LotteryHub
CALGARY, AB, June 30, 2022
CALGARY, AB, June 30, 2022 /CNW/ - HeadsUp Entertainment International Inc. (OTCPINK: HDUP) is pleased to announce it has now taken full control of the LotteryHub platform which has to date been servicing more than 4 million American users as a lottery information platform.
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 Peru, Brazil, Mexico, Eastern Europe and Eastern Africa (including Nigeria) and has ongoing discussions to enable national and state lottery partners to enhance their online offering and sell official tickets globally. The secured partnerships will give LotteryHub access to an immediate 120 million international customer base upon release of existing partnerships
The US lottery market in 2021 generated $94.9 Billion in revenue from lottery ticket sales. The Global Lottery market currently generates approximately $350 Billion in revenues and is set to grow to $450 Billion by the year 2027. LotteryHub aims to assist lottery partners in their online growth strategy with its integrated digital portal as a Digital Lottery Concierge Service.
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 Doug Wilson.
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 Mark Hutchinson.
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 $51.7 million in revenues in year 1 with Business Plan projections to grow to over $400 million in year 5 of operations. This and a subsequent series of other closings will create a total asset base and contracted revenue model to qualify for a full NASDAQ listing.
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. About HeadsUp Entertainment International Inc.
HeadsUp Entertainment International Inc. is a global gaming operator and media company focusing on online gaming, online poker, eSports, sports betting, online lottery, mobile 50/50, charity fundraising platforms, software and blockchain based payment solutions. Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, not guarantees of HeadsUp Entertainment International Inc.'s future operational or financial performance and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements because of new information, future events or otherwise.