- Lottery.com has signed a $2.5 million agreement to acquire a 90% stake in Nook Holdings, a sports and wellness incubator based in Dubai, founded by Ravi Bhusari.
- The deal will see Nook rebranded as part of the Sports.com platform, serving as Lottery.com’s MENA base.
- The acquisition is part of Lottery.com’s modular global expansion model focused on acquiring high-potential, cash-generating businesses in the sports, health, and entertainment sectors.
Press release:
Lottery.com has announced it has signed an amended stock purchase agreement to acquire 90% of Nook Holdings, a UAE-based sports and wellness incubator, for $2.5 million in cash. The deal is expected to close by 30 June 2025.
Founded by Ravi Bhusari, Nook operates from One JLT in Dubai and offers co-working, licensing, and business support services tailored to startups in the sports, wellness, and fitness industries. Following the acquisition, Nook will be rebranded under the Sports.com platform, forming a regional hub for Lottery.com’s international expansion into the Middle East.
The acquisition forms a key part of Lottery.com’s broader global growth strategy, aimed at building a network of Sports.com-branded incubators to serve as launchpads for early-stage businesses across sports, health, and entertainment sectors.
Nook reported a net profit of $354,000 in FY2024, with internal projections indicating 38% year-on-year growth to $490,000 in 2025. The next Sports.com hub is set to open in Q4 2025 in Al Quoz, a growing business district in Dubai near DIFC and Burj Khalifa, with additional locations planned in 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.”
The announcement follows the recent dismissal of a lawsuit against Lottery.com in Texas, allowing the company to refocus on strategic execution. It also builds on the momentum of an $18 million investment secured in late 2023 and a series of brand activations earlier this year.