Reports Revenues of Up to $68 Million in 2021, B2C Sales Growth and Affiliate Program Expansion


Nasdaq-listed iGaming technology company announced its financial results for the fourth quarter and full year 2021. The company posted revenue of $21.5 million in the fourth quarter, up $18.2 million from the prior year period; while it generated $68.5 million in full-year revenue, up $61 million from 2020.

The Texas-based company, which provides mobile and online platforms for players and business partners to purchase legally sanctioned lottery games remotely, also completed its business combination with a New York-based special purpose acquisition company Trident Acquisitions Corp. during this period, make public.

“In the fourth quarter and throughout 2021, we demonstrated our ability to execute our strategic growth initiatives across the business to deliver strong revenue growth and gross profit,” said Tony DiMatteo, co. -founder and CEO of “B2C sales increased over the prior year period, despite no digital marketing spend. LotteryLink, our affiliate program, expanded and generated multiple revenue streams.

For the full year 2021, the company had pro forma revenue of $70.5 million and adjusted EBITDA of $31.1 million.. However, also posted a full-year net loss of $9.3 million, compared to a loss of $5.8 million in 2020.

“We entered 2022 with positive momentum and continued focus on executing our strategic growth plan,” added DiMatteo.. “Fueled by approximately $43 million in proceeds from our business combination and $30 million received from the sale of LotteryLink credits, we are investing in initiatives to drive growth.”

Fourth quarter 2021 revenue was driven by the sale of LotteryLink credits to a subsidiary of LotteryLinkprimarily to acquire prepaid lottery games from the Company as part of the Affiliate’s launch of a pilot promotional campaign at a national grocery chain.

The company also sold LotteryLink credits for marketing materials, product development and $3.0 million in prepaid advertising credits, while B2C lottery ticket sales increased significantly over the prior year period, despite no digital marketing spend.

A net loss of $12.9 million in the fourth quarter was driven by a non-cash stock compensation charge of $15.5 million and included $8.8 million of interest expensewhich is explained by a non-recurring charge related to the conversion of debt into equity at the time of the business combination.

Meanwhile, full-year financial highlights include an 819% increase in revenue over 2020, growth primarily driven by the sale of $47.1 million in LotteryLink credits for prepaid advertising, prepaid lottery games, marketing materials and product development. Increased B2C sales also contributed to revenue growth.

Pro forma revenue for the year was $70.5 million, including the full year impact of Global Gaming Enterprises, which the company acquired in June 2021. Global Gaming owns an 80 % in each of the two Mexican lottery entities: JuegaLotto and Aganar. Gross profit of $49.4 million for the full year was primarily driven by profits from the sale of LotteryLink credits and increased data sales, generating above-average margins for the business.

Along with its financial report, the company provided an update on a series of key initiatives. has advanced its B2C user growth initiatives, signing an agreement with T-Mobile become its exclusive digital lottery brandadvertising on the T-Mobile platform in ride-sharing vehicles; and tested B2C ad campaigns across multiple digital outlets in Q1 2022with the company intending to use this data to launch broader marketing campaigns in the second quarter.

The LotteryLink affiliate program has launched a pilot program with a national grocery chain, which is expected to “expand in the second quarter of 2022”. The company also added ICARO Media Group as an affiliate to promote B2C products in South America.

The lottery ticket management service also detailed the next steps for its Nexus project.. Announced last year, the Nexus project is a blockchain-based gaming platform developed by to operate lotteries and other forms of online gaming worldwide.

Phase 1 is expected to launch early in the second quarter, which should increase platform scalability, security, and the ability to implement product updates. Phase 2 will roll out by the end of Q3 and will enable additional revenue-generating features for existing products.

At last, Phase 3 is planned by the end of the fourth quarter and should enable support for a first-party game accepting fiat or cryptocurrency paymentssubject to regulatory and compliance requirements. also announced the planned entry into five new national jurisdictions, which is expected to take place by the end of 2022.


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