Lottery.com names new CFO and interim CEO

The company has named Matthew McGahan as interim CEO and Robert J. Stubblefield as CFO.

US.- Lottery.com has announced changes to its board of directors and executive management team. The company has named Matthew McGahan as interim CEO and Robert J. Stubblefield as CFO. It also appointed Tamer Hassan and Paul Jordan as new independent non-executive directors.

McGahan replaces Mark Gustavson, who the board decided to remove from his role as chief executive officer. McGahan has been chairman of the board since November 2022. He founded Magic Automotive Group, which developed into one of the largest Harley-Davidson and BMW dealerships in Europe. He sold the group in 2010. He also founded the UK charity Mask Our Heroes.

Stubblefield recently served as the chief financial officer of Demeta and Regnum Corp.

McGahan said: “Mr. Stubblefield has been a key member of the consulting team that helped the company regain regulatory compliance with Nasdaq. The company was extremely fortunate to find someone with his background to step in and assume a leadership role over the last four months, during which he gained significant knowledge about the company and its operations. His wealth of financial experience and leadership will be invaluable as we begin to execute our growth plans now with the support of our new investment partner, UCIL.”

Stubblefield commented: “I am eager to join the Lottery.com team at such an important time for the company. I look forward to leveraging my years of experience to guide the company in implementing sustainable financial processes and controls. I am grateful to be working alongside an energetic group of leaders to advance the company’s strategic goals, rebuild our domestic and international revenue engines, and focus the company’s efforts on delivering maximum shareholder value. It’s an exciting time to join this organization as we prepare to fully realize the revenue-generating power of our two primary assets: lottery.com and sports.com.”

Hassan is an actor, entrepreneur and founder of The Tamer Hassan Academy of Acting. Jordan is a commercial motorsport specialist with extensive international experience in sponsorship, acquisitions, and communication.

McGahan commented: “We are delighted to welcome both Paul and Tamer to our Board. Their vast experience and achievements in the sports and entertainment industries will undoubtedly be an asset to our strategic decision-making process.”

The company’s changes in its leadership team follow an announcement regarding a funding agreement Lottery.com with United Capital Investments London.