Lottery.com has made a $2.5 million deal to acquire 90% of Nook Holdings, a sports and wellness company in Dubai founded by Ravi Bhusari.
As part of the deal, Nook will change its name and become part of the Sports.com platform. It will also be Lottery.com’s main base in the MENA region.
This acquisition is part of Lottery.com’s plan to grow worldwide by buying successful businesses with good potential in sports, health, and entertainment.
Lottery.com has announced a new agreement to buy 90% of Nook Holdings, a sports and wellness company in the UAE, for $2.5 million in cash. The deal is expected to be completed by June 30, 2025.
Nook, started by Ravi Bhusari, is based in Dubai at One JLT. It provides co-working spaces, licensing, and business support for startups in the sports, wellness, and fitness sectors. After the purchase, Nook will change its name and become part of Lottery.com’s Sports.com platform, acting as a base for Lottery.com’s growth in the Middle East.
The acquisition is an important part of Lottery.com’s bigger plan to grow worldwide. They aim to establish a network of Sports. com-branded incubators that support new businesses in the sports, health, and entertainment sectors.
Nook made a net profit of $354,000 in the financial year 2024. The company anticipates a 38% growth next year, with a projected profit of $490,000 by 2025.
The next Sports.com hub will open in the last quarter of 2025 in Al Quoz, a fast-growing business area in Dubai near DIFC and Burj Khalifa. More locations are also planned for Riyadh, Jeddah, Abu Dhabi, and Greater Miami.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, commented: “This is not a one-off transaction – this is a scalable blueprint. We operate a modular model that enables us to bolt on high-potential, cash-generative businesses that expand both brands quickly and globally.”
Mark Bircham, Director of Lottery.com and Head of Acquisitions at Sports.com, added: “We’re creating a repeatable model that connects high-growth markets to a shared infrastructure. With the right businesses in place, the potential to scale across multiple verticals is enormous.”
This announcement comes after a lawsuit against Lottery.com in Texas was recently dropped. This lets the company focus again on its business plans. It also follows an $18 million investment that Lottery.com received at the end of 2023 and several marketing activities it conducted earlier this year.
Read more- PhonePe Sells 5% Stake in MapmyIndia for INR 486 Crore
