Lottery.com secures $50 million credit facility with UCIL

By Wendy Van Sickle

Columbus, Ohio, Aug. 2 – Lottery.com, Inc. secured a $50 million credit facility with United Capital Investments London, Ltd., according to a news release.

Initially, $1 million is drawn under the facility, which the company said sets the foundations for a more stable financial future and allows it to pursue strategic opportunities.

To secure the initial loan, Lottery.com has issued a number of warrants to United Capital Investments London, allowing the latter to purchase shares of Lottery.com's common stock, capped at 15% of the its issued and outstanding shares.

Based in Austin, Tex., the technology company enables players and commercial partners throughout the United States and other countries to remotely purchase legally sanctioned lottery games.

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