Lottery.com names Matthew McGahan as its new CEO, Gregory Pots named COO

Gaming technology company Lottery.com has announced two new strategic leadership appointments. Matthew McGahan assumes the helm as Chief Executive Officer, President, and Secretary, while Gregory Potts steps into the role of Chief Operating Officer. The business said these appointments mark "a significant milestone” in its journey towards becoming a global leader in the lottery, gaming, and sports industries.

Matthew McGahan, previously serving as interim CEO since July 2023, brings a wealth of diverse experience to the company, says Lottery.com. His leadership experience includes being Chairman of Sports.com, Inc.; founding the Magic Automotive Group in Europe; and establishing United Capital Investments Limited (UCIL) in 2015. 

McGahan has been serving as the interim CEO since July 2023, after the departure of Mark Gustavson, who had taken the position in February. McGahan joined Lottery.com as chair in October 2022. 

Gregory Potts, COO of Lottery.com

Meanwhile, Gregory Potts, who has been promoted to COO, will oversee Lottery.com's commercial growth and global operations. “His extensive 25-year experience in strategic growth and marketing, coupled with his recent success as Global Vice President of Affiliate Success at Lottery.com, positions him to lead sales, marketing, customer success, and business development,” the company noted. 

Potts also currently serves as the trustee of WinTogether.org and board member at both Medios Electrónicos Y De Comunicación, S.A.P.I. de CV, and the Lexington chapter of the American Advertising Federation, bringing further relevant experience to his role.

Lottery.com’s board has also approved Robert Stubblefield as Chief Financial Officer. He was appointed to the role in July, with this now having been reaffirmed by the board.

Matthew McGahan said: "I'm honored and excited for the trust placed in me to navigate Lottery.com's future and I would like to thank the Board for the trust they have placed in both me and Greg. Our innovative approach, backed by our stakeholders and leadership team, promises to transform the lottery industry and also maximize our investments in the Sports.com domain and Nexus Gaming System."

Gregory Potts added: "Joining forces with Matthew, our Board, and stakeholders to elevate the Lottery.com brand globally is an exhilarating opportunity. The potential for growth and innovation here is immense, and I'm extremely optimistic about what we can achieve together."

Lottery.com hopes to gain stability with new leadership appointments 

Lottery.com saw several changes in management over the past year. Earlier in May, the company revealed that it was facing material weakness over accounting non-compliance. The company faced a class action suit in August 2022 on behalf of investors and former high-ranking employees. The lawsuit alleged that Lottery.com made “materially false or misleading statements," and also failed to disclose that the company lacked adequate internal accounting controls.

The company was also served with a lawsuit by John Brier and Bin Tu, founders of lottery data business TinBu, who alleged that it failed to give them promised compensation after the company was acquired.

In recent times, however, Lottery.com has made efforts to get back on its feet. Earlier in April, the company restarted ticket sales to support affiliate partners through its Texas retail network. 

Lottery.com also regained compliance with Nasdaq stock market requirements. Nasdaq's listing qualifications department confirmed the broker's compliance with minimum bid price requirements in September.