Apr 12th, 2021
With a worldwide pandemic raging, industries that were already moving toward digital applications have accelerated the process. People now grab their mobile device for everything from ordering groceries to buying cars — and the trend isn’t likely to end any time soon. The founders of Lottery.com (Profile) recognized the shifting trends years ago and were first movers to address the untapped global lottery market. The company uniquely combines blockchain with other cutting-edge technology to offer at-home lottery participation and aims to capture a lion’s share of huge lottery and sports betting markets. Now the company is timing its entry into the public markets with another hot trend: investor appetite for special purpose acquisition companies, or SPACs. The entire gambling and gaming industry is likely to explode as the pandemic subsides and the economy gets its legs back. DraftKings Inc. (NASDAQ: DKNG) used the SPAC path to go public last April, and traditional casinos are expecting revenue resurgence post-pandemic, with companies such as Bally’s Corporation (NYSE: BALY), MGM Resorts International (NYSE: MGM) and Penn National Gaming Inc. (NASDAQ: PENN) all eager for a return to normalcy.