""SPAC Stock"" – Google News
AutoLotto was founded in 2015 and is a secure mobile application based on blockchain technology for lottery players. The company offers state-sanctioned lottery games like Mega Millions and Powerball. AutoLotto currently operates in approximately 11 US states and plans to cover nearly 34 states by 2023. From 2016 to 2020, the company increased its sales with a CAGR of 322 percent. AutoLotto expects revenues of $ 71 million in 2021. In addition, the company expects revenue to grow 294 percent in 2022 and 104 percent in 2023.
AutoLotto estimates that the global lottery distribution industry is valued at around $ 430 billion with online distribution of just 4 percent. The company’s customer acquisition cost is $ 4.01 while these users’ gross revenue is $ 30.90 per customer for the first year.
TDAC stock looks like a good buy given the strong growth outlook. The stock is a speculative game, however, until the merger agreement between TDAC and AutoLotto is completed. Based on pro forma company value and 2023 earnings, AutoLotto will trade 0.92x.