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Posted 22 July, 2022

Lottery.com Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:LTRY in a 8-K filed on 22 July, 2022.


  On July 21, 2022, Lawrence Anthony "Tony" DiMatteo III, the Chief Executive Officer (the "CEO") of the Company and a member of its Board of Directors (the "Board"), provided a notice of resignation as CEO of the Company, its wholly owned subsidiary, AutoLotto, Inc. ("AutoLotto"), and all of its other subsidiaries and affiliates with the exception of LTRY WinTogether, Inc., with immediate effect.  

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Overview of Lottery.com Inc.
Leisure/Arts/Hospitality • Gambling Industries
Lottery.com, Inc. engages in the provision of domestic and international lottery products and services. As an independent third-party lottery game service, it develops and operates a platform which enables the remote purchase of legally sanctioned lottery games. The company was founded by Lawrence Anthony DiMatteo III and Matthew Allen Clemenson on March 17,2016 and is headquartered in Spicewood, TX.
Market Cap
$12.1M
View Company Details
Lottery.com Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On July 21, 2022, Lawrence Anthony "Tony" DiMatteo III, the Chief Executive Officer (the "CEO") of the Company and a member of its Board of Directors (the "Board"), provided a notice of resignation as CEO of the Company, its wholly owned subsidiary, AutoLotto, Inc. ("AutoLotto"), and all of its other subsidiaries and affiliates with the exception of LTRY WinTogether, Inc., with immediate effect. The Company accepted his resignation from such positions. Mr. DiMatteo served as an officer and director of AutoLotto since February 2015 and as CEO of the Company since the effectuation of the business combination in October 2021.


In connection with Mr. DiMatteo's resignation, the Company entered into a resignation and release agreement with Mr. DiMatteo effective July 22, 2022 (the "Agreement").


Pursuant to the Agreement, Mr. DiMatteo resigned as CEO of the Company effective July 22, 2022.


Following Mr. DiMatteo's resignation, he will serve as Senior Advisor to the Board commencing on July 22, 2022 and continuing until the either party gives not less than ten (10) days' prior notice to the other party (the "Consulting Period") unless certain conditions for earlier termination become applicable. Mr. DiMatteo will, among other things, (i) provide consulting and advisory services to the Board of Directors of the Company as requested and (ii) cooperate in any ongoing and any future investigation by or related to the Company. Non-compete and customer and employee non-solicitation provisions as well as confidentiality obligations from prior agreements entered into between Mr. DiMatteo and the Company will apply while he consults and for a period of one year thereafter. Mr. DiMatteo may be paid $1,000 per month for each month during which he provides services to the Company, and reimbursed for business expenses validly incurred prior to his resignation. The Agreement includes a general release of claims by Mr. DiMatteo.


The foregoing description of Mr. DiMatteo's Agreement is qualified in its entirety by reference to the text of the Agreement filed as Exhibit 10.1 and incorporated herein by reference.


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