August 17, 2022 3 min read


HeadsUp Is Close to the Finish Line with Spinola Acquisition

International gaming operator HeadsUp Entertainment has taken an important step towards strengthening its position in the global lottery market with the upcoming finalization of the acquisition of lottery software provider Spinola Gaming.

HeadsUp Buys All Third-Party-Owned Spinola Shares

HeadsUp has announced the completion of the next step leading towards the acquisition of the major global provider of lottery software Spinola Gaming. The company has bought all Spinola shares held by third parties and is now ready to finalize the full acquisition of the lottery software provider. This step was compulsory for the 100% acquisition of Spinola and all of its assets.

In terms of the valuation of the acquisition, HeadsUp ordered two separate evaluators to assess it. Spinola’s estimated worth is $65 million according to one of the assessors and $72 million according to the other. The potential revenue that may come from the acquisition was estimated at $150 million or much more bearing in mind that there currently are various new contracts under negotiation.

Spinola’s Key Role in HeadsUp’s Expansion Strategy

The Spinola acquisition will play an integral role in HeadsUp international expansion to new markets in the lottery sector as the lottery software provider has key contracts in Colombia, Peru, Brazil, and other countries in Latin America. These markets are currently expanding in terms of the lottery sector and offer great opportunities for growth and revenue. Among Spinola’s assets are also licenses for various European and Latin American countries.

Additionally, Spinola is preparing the launch of new products in six countries in Africa, which is set to start in the fourth quarter of 2022. The company is also set to launch the first national lottery offering in The United Arab Emirates, which will see the biggest lottery jackpot ever offered worldwide.

LotteryHub and Spinola Turn HeadsUp into Lottery Powerhouse

The revenues from the global lottery market are about $300 billion per year and most of them come from offline transactions. As more and more providers turn to online solutions for their national lottery products, this presents a unique opportunity for growth.

The forecast is that 15-20% of the global lottery market will move online in the next few years. That makes up a market share of $45-60 billion online transactions per year.

HeadsUp recently acquired lottery information platform LotteryHub. Together with the Spinola acquisition, HeadsUp is now positioned as an international powerhouse on the lottery market and will have the opportunity to grab a decent part of these new online activities in the upcoming years.


Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.

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