LONDON - Sports.com, a subsidiary of Lottery.com Inc. (NASDAQ:LTRY, LTRYW), has expanded its international presence by partnering with Bango PLC (AIM:BGO), a leader in digital commerce and subscription bundling. The collaboration aims to launch Sports.com's streaming platform in 40 new markets, with a focus on North America and Europe, and additional expansions into Latin America and the Asia Pacific region.
The integration with Bango's Digital Vending Machine® is complete, enabling seamless distribution of sports content to millions of potential new users. Key markets for the expansion include the US, UK, Ireland, Chile, and Mexico, where significant engagement from sports fans is anticipated.
According to Tim Scoffham, Sports & Media Consultant at Sports.com, the partnership allows resellers to easily add Sports.com's service to their offerings, thereby enhancing their content catalog and potentially improving customer retention and satisfaction.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, stated that the integration with Bango's platform is a strategic move to deliver localized sports content directly to consumers' mobile devices. He emphasized the company's commitment to establishing Sports.com as a premier destination for sports enthusiasts.
This expansion is part of Lottery.com's broader strategy to transform the sports fan experience into something more seamless and immersive. The company is focused on delivering the latest and most exclusive sports content and plans to announce further content and distribution deals in the near future.
The information in this article is based on a press release statement from Lottery.com Inc.
InvestingPro Insights
The recent partnership between Lottery.com's Sports.com and Bango PLC (AIM:BGO) underscores Bango's strategic moves to broaden its reach in the digital commerce space. With an impressive gross profit margin of 85.95% for the last twelve months as of Q4 2023, Bango demonstrates its ability to efficiently monetize its services. This financial health could be a key factor in the success of the partnership, as it allows for reinvestment in the platform and potentially better terms for partners like Sports.com.
InvestingPro Tips highlight that Bango operates with a moderate level of debt, which suggests the company has a balanced approach to financing its growth. While Bango has not been profitable over the last twelve months, analysts on InvestingPro predict the company will turn a profit this year, indicating potential for financial turnaround that could benefit collaborative endeavors.
On the data front, Bango's market capitalization stands at 121.73 million USD, reflecting the market's current valuation of the company. Despite a challenging short-term performance with a 1-month price total return of -17.23%, the company's revenue growth has been robust, with an increase of 61.8% over the last twelve months as of Q4 2023. This growth may signal strong market demand for Bango's services, which could translate into successful distribution for Sports.com's streaming platform.
For those interested in a deeper dive into Bango's financials and future prospects, InvestingPro offers additional tips and metrics, providing a comprehensive analysis of the company's performance and outlook. As of now, there are six additional InvestingPro Tips available for Bango PLC at https://www.investing.com/pro/BGO.
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