Key points:
- Lottery.com to acquire 90% of Dubai-based incubator Nook Holdings for $2.5m
- Nook to be rebranded under the Sports.com platform
- New hubs planned in Al Quoz (UAE), Riyadh, Jeddah, Abu Dhabi and Greater Miami
Lottery.com has signed an amended stock purchase agreement to acquire a 90% ownership stake in Nook Holdings, a UAE-based sports and wellness incubator located at One JLT in Dubai.
The $2.5m all-cash deal is expected to close by 30 June 2025.
Nook, founded by Ravi Bhusari, provides co-working and licensing support to sports and wellness startups. It will be rebranded under the Sports.com banner and serve as a regional base for Lottery.com’s international operations in the Middle East.
The acquisition forms part of a broader expansion strategy by Lottery.com to develop a network of Sports.com-branded incubators, which will act as launchpads for early-stage businesses in the sports, health and entertainment sectors.
Good to know: Nook reported $354,000 in net profit for FY 2024 and is projecting 38% growth to $490,000 in 2025, according to company figures
A second Sports.com hub is scheduled to open in Q4 2025 in Al Quoz, a growing business district near Dubai’s DIFC and Burj Khalifa. Additional locations have been identified in Riyadh, Jeddah, Abu Dhabi and the Greater Miami area.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, said: “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.”
Mark Bircham, Director of Lottery.com and Head of Acquisitions at Sports.com, added: “We’re creating a repeatable model that connects high-growth markets to a shared infrastructure. With the right businesses in place, the potential to scale across multiple verticals is enormous.”
The announcement comes shortly after the dismissal of a lawsuit against Lottery.com in Texas. The company stated that the development allows it to continue focusing on growth and strategic execution, following earlier brand activations and the securing of an $18m investment in late 2023.
