The current lottery systems contract with LEIDSA had been scheduled to run until March 9, 2025. Concurrent with closing of the acquisition of Sportech Lotteries, Inspired and LEIDSA extended the lottery systems contract through March 9, 2035.
This marks Inspired’s first acquisition in the lottery sector, further diversifying its business model on a product, customer and geographic level. It is expected to provide additional growth opportunities in North America, a key strategic geography for the company, bolster the firm’s positioning in the growing iLottery market and enhance its s ability to offer a platform with a full turnkey lottery/iGaming solution to new customers in the future, in line with its cross-platform approach.
“This acquisition accelerates our entry into the lottery business, where, as a management team, we have extensive collective experience and long-standing relationships,” said Lorne Weil, Executive Chairman of Inspired.
“We expect to build on Sportech’s established lottery supply contract to increase our scale and scope within the lottery and gaming ecosystem. We are excited to enhance the value proposition we provide to operators and consumers as we seek to realize on significant opportunities in the sector,” Weil added.
“LEIDSA is one of the largest and most successful lotteries in Latin America. Beyond the immediate potential in the Dominican Republic, we anticipate that the lottery systems platform can be further enhanced in order to accelerate the path of our strategic objectives in the worldwide online and retail lottery market,” he concluded.
Inspired acquired Sportech Lotteries for US$12.5m on a cash free/debt free basis, subject to certain customary adjustments and up to US$2m of potential additional earn out consideration.
LEIDSA is a private lottery operator in the Dominican Republic that has offered electronic lottery products (draw games, Keno, etc.) as well as a host of other services since the lottery’s inception in 1997.
In conjunction with the acquisition, Inspired will control Sportech’s Quantum System for LEIDSA, which supports more than 2,100 land-based outlets as well as software and field service support. Inspired will also license Sportech’s Lot.to system, an omni-channel iLottery solution that manages the entire lottery business from the cloud, which is currently undergoing testing with LEIDSA to launch digital lottery sales during 2022.
Source: GMB
