Lottery.com expands Sports.com operations with Dubai-based Nook purchase

Lottery.com Inc. is moving forward with the acquisition of a majority stake in Nook Holdings Limited, a sports and wellness incubator based in Dubai, United Arab Emirates.

The transaction, structured as an all-cash deal valued at approximately $2.5 million, grants Lottery.com 90% ownership of Nook. Closing is expected by June 30, 2025.

The deal supports the company’s strategy to expand its Sports.com platform internationally, beginning with a regional base of operations at Nook’s One JLT facility in Dubai.

Nook, founded by entrepreneur Ravi Bhusari, provides support services for startups in the sports and wellness sectors, including business registration, licensing, and co-working spaces. The incubator operates in partnership with the Dubai Multi Commodities Centre (DMCC) Free Zone.

Nook reported $354,000 in net profit for 2024 and projects 38% growth to $490,000 in 2025.

Following the acquisition, the facility will operate under the Sports.com brand while maintaining its current services. It will also become a launch point for Lottery.com’s planned expansion into other markets.

The company confirmed additional Sports.com locations are in development, with a second site scheduled to open in Al Quoz, Dubai, in Q4 2025. Other areas under consideration include Riyadh, Jeddah, Abu Dhabi, and the Greater Miami region.

“This is not a one-off transaction – this is a scalable blueprint,” said Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com. “We operate a modular model that enables us to bolt on high-potential, cash-generative businesses that expand both brands quickly and globally.”

Bhusari stated that the partnership creates new opportunities for Nook’s members and connects the community to a wider business network. "This will be a defining moment for Nook," he stated.

Director and Head of Acquisitions Mark Bircham said the integration of Nook into the Sports.com network has been in development for months. He described the current ecosystem at Nook as an environment that fits with Lottery.com’s growth strategy.

"We are ready to roll up our sleeves and begin supporting these companies with everything Sports.com has to offer — from networking and licensing to potential investment and acquisition. This is just the beginning,” said Bircham.

The announcement comes shortly after Lottery.com resolved a legal dispute in Texas, which the company said clears the way for the continued execution of its expansion plans. An $18 million investment secured in late 2023 remains part of its funding pipeline.