Lottery.com, Inc. Appoints Accomplished Industry Leader Christopher Gooding as Non-Executive Director

AUSTIN, Texas, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Lottery.com, Inc. (NASDAQ: LTRY, LTRYW) ("Lottery.com" or the "Company") names Christopher Anderson Gooding to its board of directors. His appointment is another important step in a new era of compliance with Nasdaq for the Company.

Christopher Gooding brings decades of service at respected law firms, predominantly within the heart of London's financial district. His professional journey began as an Assistant Solicitor at Clifford Turner in London and Dubai, advancing to a 15-year tenure at Clyde & Co. A consummate legal strategist, he also served as a partner at LeBoeuf Lamb Greene & MacRae and Howard Kennedy. Notably, from 1999 to 2009, he held the position of Director at the Sovereign Trade Corporation. Adding to his diverse portfolio, Gooding subsequently held partner roles at Fasken Martineau and Nabarro LLC (now CMS). Since 2022, he has honed his expertise as a Consultant at Crowell and Morsing.

Of significance is Gooding’s extraordinary fusion of legal finesse with a substantial involvement in the corporate landscape. His credentials include being a founding director of a substantial NY-based hedge fund valued at over $500 million. He has also been a guiding presence on the Boards of UK-based companies spanning aviation, insurance, and cutting-edge startups, as well as spearheading initiatives in the green energy and aviation sectors. His hands-on spirit propelled the creation of a boutique hotels group in Morocco, a project he actively designed. The Lottery Board will benefit from Gooding’s insightful perspectives backed by his vast experience across an array of commercial realms.

This announcement comes on the heels of last week's news of overwhelming shareholder approval for the Company's strategic reverse stock split initiative, which capped the last requirement for the Company to regain full compliance with Nasdaq’s listing rules. The shareholders also supported the election of Nick Kounoupias as a Class II Director.

Leveraging fortified corporate governance, underpinned by a stalwart board and solid financial backing from UCIL, Lottery.com is now focusing on resuming operations in three major segments of its business model before the end of 2023. The Company anticipates new revenue streams from B2C ticket sales, international expansion, and technology licensing.

Christopher Gooding commented:

"My legal career has been characterized by crafting innovative commercial solutions to tackle unique client challenges. Identifying latent issues and orchestrating proactive solutions has been a hallmark of my approach. I am thrilled to contribute these proficiencies and more to a Board already steeped in profound insight and strategic acumen."

Lottery.com Board Chairman and Interim CEO Matthew McGahan added:

"We extend a very warm welcome to Christopher. The appointment of an individual of his stature enriches our Board substantially. His legal acumen, coupled with a deep understanding of corporate governance, greatly augments our combined senior leadership experience. Bolstered by these strategic appointments and solid UCIL financing, we now have a much more robust operational and financial foundation to execute on our business plan. As we lean in to the second half of our fiscal year, our strategy's central interest is to restore the Company’s revenue-driving operations. Our business is easily scalable, contains inherent potential and we look forward to updating the market on these and other positive developments in due course."

For more information please contact: [email protected] , or visit: http://www.lottery.com

About Lottery.com, Inc.

Lottery.com, Inc. is a leading technology company that is transforming how, where and when lotteries are played. Its engaging mobile and online platforms enable players and commercial partners located throughout the United States and other countries to remotely purchase safe and legally sanctioned lottery games. Lottery participants look to the Company’s website, Lottery.com, for compelling, real-time results on over 800 lottery games from over 40 countries. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. 

Important Notice Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of present or historical fact included in this press release, regarding the company’s future financial performance, as well as the company’s strategy, future operations, revenue guidance, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Lottery.com disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Lottery.com cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Lottery.com. In addition, Lottery.com cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the outcome of any legal proceedings that may be instituted against Lottery.com; (ii) the Company’s ability to maintain effective internal controls over financial reporting, including the remediation of identified material weaknesses in internal control over financial reporting relating to segregation of duties with respect to, and access controls to, its financial record keeping system, and its accounting staffing levels; (iii) the effects of competition on Lottery.com’s future business; (iv) risks related to its dependence on its intellectual property and the risk that  technology could have undetected defects or errors; (v) changes in applicable laws or regulations; (vi) risks related to the COVID-19 pandemic or other pandemic and their effect directly on Lottery.com and the economy generally; (vii) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; (viii) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (ix) the ability of Lottery.com to achieve its strategic and growth objectives as stated or at all; and (x) those factors discussed in the proxy statement/prospectus filed by Lottery.com, Inc. with the U.S. Securities and Exchange Commission (“SEC”) under the heading “Risk Factors” and the other documents filed, or to be filed, by the Company with the SEC. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that Lottery.com has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov.