HeadsUp Entertainment International

What HeadsUp Entertainment International does

HeadsUp Entertainment International Inc. is a Denver-based, US-incorporated media and entertainment company that trades on the OTC pink market under the ticker HDUP. The company was founded in 1997 and operates with a headcount in the 101-250 range. Following its August 2022 acquisition of Spinola Gaming — a global lottery software provider bought out for an independently estimated $65-72 million USD — HeadsUp has repositioned itself as a B2B provider of lottery software and licensing infrastructure to regulated gaming operators across Europe, Latin America, Africa, and the UAE.

The company's core technology is a proprietary lottery software platform acquired through the Spinola Gaming deal, which encompasses both the underlying gaming software and the multi-jurisdictional regulatory licenses required to operate in each market. Its revenue model is structured around licensing and royalties: HeadsUp licenses its lottery software solutions to gaming operators in regulated markets, monetizing its proprietary technology and the regulatory permissions bundled with it. Customer segments are defined vertically as B2B lottery and gaming operators needing compliant infrastructure across multiple jurisdictions.

HeadsUp's go-to-market is asset-and-license driven rather than sales-and-marketing driven, given the absence of disclosed marketing or distribution channels in the source material. Leadership consists of Doug Wilson as President & CEO and Mark Hutchinson as Chief Business Development Officer. The earlier 2016 acquisition of FANLOGIC for approximately $3.6 million indicates a history of bolt-on activity in adjacent gaming verticals. Public financial disclosures are sparse and the supplied financials appear to contain data errors, leaving current revenue, profitability, and growth trends unverifiable from available sources.

Name

HeadsUp Entertainment International

Legal name

HeadsUp Entertainment International Inc.

Website

http://www.headsupentertainment.com/

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

101–250 employees

Short description

HeadsUp Entertainment International is a Denver-based B2B lottery software provider, licensing proprietary gaming technology and multi-jurisdictional regulatory licenses to lottery operators across Europe, Latin America, Africa, and the UAE, anchored by its 2022 acquisition of Spinola Gaming.

Ownership category

akta.pro rank

Product category

Lottery Software

NAICS

Gambling Industries (7132)

SIC

Services-Amusement & Recreation Services (7900), Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Lottery Data, Analytics & Responsible Gaming Tools (MPAEAFAJ)

Keywords

• Lottery software
• Gaming platform
• Regulated gaming
• Lottery management
• Gaming licensing

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations

Revenue model

1. Lottery Software Licensing: Revenue derived from licensing lottery software solutions to operators across regulated markets. The company owns and operates lottery software assets through its acquisition of Spinola Gaming.

Core offering

HeadsUp Entertainment International owns and licenses lottery software solutions and gaming infrastructure acquired through its 100% buyout of Spinola Gaming. The company provides compliant lottery management and gaming software to operators in regulated markets across Europe, Latin America, Africa, and the UAE.

Product overview

HeadsUp Entertainment International operates as an entertainment company with a portfolio that includes acquired gaming assets. The company completed the acquisition of Spinola Gaming, a global lottery software provider, enabling HeadsUp to own 100% of Spinola's assets including lottery software and regional licenses spanning Europe, Latin America, Africa, and the UAE. The deal was valued between $65 million and $72 million USD based on independent valuations.

Differentiator

Problem solved

Functional benefit

Products and services

• Spinola Gaming Lottery Software Global lottery software platform providing lottery management and gaming software solutions with regulatory licenses spanning Europe, Latin America, Africa, and the UAE. Targeted at lottery and gaming operators in regulated markets.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Spinola GamingcoreStrategic or Co-development PartnerHeadsUp Entertainment International acquired 100% ownership of Spinola Gaming, a global lottery software provider. The acquisition was completed through a buyout of all previous third-party shareholdings. Independent valuations placed the deal value between $65 million and $72 million USD. The acquired assets include lottery software and licenses across Europe, Latin America, Africa, and the UAE.

Scale indicators2 records

Expansion highlights3 records

Direct peers

• Pollard Banknote: Pollard Banknote supplies instant lottery tickets, licensed games, and lottery technology solutions to government and charity lotteries in North America and internationally. Its software and services portfolio overlaps with Spinola's lottery offerings.
• Inspired Entertainment: Inspired Entertainment provides server-based gaming, virtual sports, and lottery technology solutions to operators globally. Its lottery software and digital platform products are directly comparable to Spinola's portfolio.
• NeoGames: NeoGames provides lottery and iGaming technology solutions to national and state lotteries, including a turnkey platform-as-a-service. It is a direct competitor in supplying lottery software infrastructure to regulated operators, similar to what Spinola offers.

Broad incumbents

• INTRALOT: INTRALOT is a global lottery and gaming technology supplier providing software, systems, and operator services to lotteries in Europe, the Americas, Africa, and Asia. Its geographic and product overlap with Spinola is substantial, particularly in EMEA.
• International Game Technology (IGT): IGT is a global leader in lottery technology, systems, and services, supplying draw-based games, instant tickets, and lottery software to operators worldwide. It directly competes with Spinola's lottery software offering but at vastly larger scale and across more jurisdictions.
• Light & Wonder (formerly Scientific Games): Light & Wonder provides lottery systems, instant product management, and gaming technology to regulated operators globally. Its lottery systems business directly overlaps with Spinola's core software offerings and competes for the same operator contracts.

Emerging players

• Abacus Solutions International: Abacus provides lottery management software, accounting, and player account services to lottery operators across regulated markets. It is comparable as a niche lottery software supplier with a similar operator-customer focus.
• Jumbo Interactive: Jumbo Interactive is an Australian-listed digital lottery technology and software provider serving lotteries and charities. It shares the lottery software provider model with Spinola but operates primarily in the Australian and European markets.
• Karousel (formerly Lotteries Entertainment Innovation): Karousel is a smaller-scale lottery software and digital platform provider to operators, with a similar B2B software licensing model to Spinola. It competes in adjacent segments of the same regulated lottery software market.

Others

• Better Collective: Better Collective is a digital sports media and affiliate platform that includes lottery content and operator partnerships. While not a direct lottery software competitor, it is an ecosystem participant that touches the same regulated lottery operator customer base.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/HeadsUpHDUP
• LinkedInlinkedin.com/company/headsup-entertainment-international

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HeadsUp Entertainment International