Lotto, LottoLive and Ticketmaster to share a deal
Lotto and TicketMaster are to become a joint venture, with the former managing partner of Lotto taking on the responsibilities of the latter.
The deal, announced on Tuesday, will see the US-based ticket-selling giant acquire Ticketmaster, the world’s biggest online ticketing company, in a deal worth around $1.1 billion.
The acquisition will allow Lotto to expand into the digital and social worlds.
Ticketmaster has been a key player in the Lotto ticketing business, selling tickets for some of the biggest events around the world.
TicketMaster is currently valued at around $6.7 billion, according to data provider TicketIQ.
The partnership will also see Lotto expand into a suite of digital products and services, including a ticketing app and a live event platform, according a statement from Ticketmaster.
The new deal follows Lotto’s acquisition of Ticketmaster by the US giant in February, and is expected to close in the second half of the year.
Ticketmaster currently has around 10 million users in the US, with around one in 10 being millennials.