Lottery.com has entered into a stock purchase agreement to acquire a 90% stake in Nook Holdings, a UAE-based sports and wellness incubator based at One JLT in Dubai, in an all-cash $2.5 million deal, which is expected to close by June 30, 2025.
Founded by Ravi Bhusari, Nook offers licensing support and co-working space tailor-made to startups in both the sports and wellness sectors.
After the acquisition is complete, the company will be rebranded as Sports.com and will serve as Lottery.com’s regional hub for expanding its international presence across the Middle East.
This acquisition is part of Lottery.com’s broader growth strategy, which involves establishing a global network of Sports. com-branded incubators.
More specifically, these hubs aim to support startup companies across sports, health, and entertainment by providing infrastructure and resources for scalable growth.
Taking a look at the finances, in 2024, Nook reported a net profit of $354,000, and moreover, the company is predicting a 38% increase to $490,000 in 2025, according to company expectations.
The next Sports.com incubator is set to launch in Q4 2025 in Al Quoz, a fast-growing business area near Dubai’s DIFC and Burj Khalifa, with further expansion planned in Riyadh, Jeddah, Abu Dhabi, and the Greater Miami area.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, commented:
This is a scalable blueprint, not a one-off. Our modular approach allows us to quickly integrate high-potential, cash-generating businesses to drive brand expansion globally.
Mark Bircham, Director at Lottery.com and Head of Acquisitions at Sports.com, added:
We’re building a repeatable model that links high-growth markets through shared infrastructure, unlocking significant cross-sector scaling potential.
This development comes after the recent dismissal of a lawsuit against Lottery.com in Texas, which enabled the company to continue executing its strategic growth plans around the globe.
