LottoGopher Holdings Powers Up Board with Kevin Harrington
LottoGopher Holdings Inc. (CNSX:LOTO) (FRA:2LG) – the lottery “gopher” service delivering tickets for PowerBall, MegaMillions and other popular lotteries in the State of California – scored a big checkmark in the management box with the addition of Kevin Harrington to its board of directors.
Harrington is the well-known celebrity business personality famous as a former original “Shark” on the business reality show “Shark Tank”.
Watch Kevin Harrington deliver a personal announcement of his joining the board of LottoGopher
“The lottery market is ripe for an update,” Harrington said. “I like to search for businesses that solve a real problem and have mass appeal. LottoGopher fits this thesis perfectly.
Harrington’s accomplishments include launching over twenty businesses that saw sales exceeding $100 million annually. Through his international business network, he’s been involved in generating over $5 billion in sales worldwide for over 500 products.
Kevin will be involved in both operations and the promotion of the public company. (Previously growing Quantum International from $1 – $20 per share on the New York Stock Exchange and recently growing Celsius from $0.25 – $4.40 with the help of Russel Simmons https://goo.gl/1LKTyz )
“LottoGopher has massive potential,” he said in a video announcing his new job. “We’ve already attracted a successful strategic partner – also in the online lottery business – and they’re doing over €300 million a year in revenue, over in Europe.”
He’s referring to LottoLand, a Gibralter-domiciled private company licensed in the UK and in Europe, that was reported by Financial Times as the 128th fastest-growing private company in Europe. Lottoland is an 8 percent shareholder in LottoGopher and is providing advisory services as well. LottoLand surpassed 6 million customers this year.
Talking to attendees at the NOAH Advisors conference in London last year, Lottoland CEO Nigel Birrell outlined his strategy for growth through acquisition, saying “We dipped our toe in the M&A market last year; we bought a company called Lotto Heldon, it was a lottery reseller, we did it entirely from our own resources, effectively taking a business with a margin of 5 – 10 percent and putting it on our 50 percent margin, automatically grows the operating profit from 5 to 10 times. It’s a bit of a no-brainer. There are a couple of companies like that out there which we’ve set our sights on.”
Watch Lottoland CEO Nigel Birrell describe his company’s growth-through-acquisition strategy at the Noah Advisors Internet Technologies conference in London in November 2016.
Disclosure: The author is a shareholder of LottoGopher Holdings Inc.