Lottery.com to Acquire 90% Stake in UAE-Based Nook Holdings

Lottery.com, a tech giant at the intersection of gaming, sports and entertainment, has confirmed that it has signed a deal to acquire Nook Holdings Limited, a Dubai-based company described as a “pioneering sports, health and wellness incubator.”

A $2.5M Acquisition

In its official release, Lottery.com said that it has signed an amended Stock Purchase Agreement (SPA) for the planned acquisition. Under the agreement, the former company will pay $2.5 million in cash to acquire a majority stake in the UAE sports and wellness business.

The agreement is expected to close on or before June 30, 2025. Following the conclusion of the deal, Lottery.com will own a 90% controlling stake in Nook.

According to the announcement, the acquisition highlights Lottery.com’s “strategic commitment to global growth and innovation in sports and wellness.”

Nook to Be Integrated into the Sports.com Brand

For context, Nook has cemented itself as a cornerstone of sports and wellness in the Emirates. Founded by Ravi Bhusari, the company seeks to help small businesses establish operations, acquire licenses and register for VAT. The exclusive partnership with Dubai’s DMCC Free Zone and its high-visibility location at One JLT have further solidified Nook’s position as a go-to destination for sports entrepreneurs in the UAE.

Following Lottery.com’s acquisition of Nook, the former company will integrate the UAE business into its Sports.com brand. At the same time, Lotery.com will operate its international sports business from within Nook’s premises at One JLT, turning the space into a “gateway for sports innovation, investment and integration.

Lotery.com concluded that the location will continue to serve as a co-working space and a business incubator.

A Defining Moment for Nook

Nook’s founder, Ravi Bhusari, commented on the deal, calling it a “defining moment” for the company his team has worked hard to build. He added that by joining forces with Sports.com, Nook’s members will unlock many new opportunities.

Partnering with Sports.com, a visionary brand with global ambitions, unlocks tremendous opportunities for our members.

Ravi Bhusari, founder, Nook

Matthew McGahan, Lottery.com and Sports.com’s chair and CEO, was likewise pleased with the deal. He lauded Nook as a “community of sports and wellness entrepreneurs” and said that its values align with the Sports.com brand.

We’re excited to work closely with the businesses already operating inside Nook and help them scale faster, smarter and embrace a global mindset.

Matthew McGahan, chair & CEO, Lottery.com

Last but not least, Mark Bircham, director of Lottery.com and head of acquisitions at Sports.com, said that Nook’s quality was definitely worth the six-month wait to complete the deal. He added: “We are ready to roll up our sleeves and begin supporting these companies with everything Sports.com has to offer — from networking and licensing to potential investment and acquisition. This is just the beginning.”