Early Operational Data and Strong Balance Sheet Supports Management Guidance for Profitability Exiting H1 2023
CALGARY, AB and ISLE OF MAN, Sept. 14, 2022 /PRNewswire/ - Real Luck Group Ltd. (TSXV: LUCK) (OTCQB: LUKEF) (the "Company") and its subsidiary companies doing business as "Luckbox" (the "Group"), an award-winning provider of licensed, real money esports betting, sports betting and casino games, announces growth in Key Performance Indicators (KPIs) since entering its customer acquisition phase in August 2022.
Net Gaming Revenue ("NGR" i.e. gross sales minus player winnings and promotions) grew 144% during August and total player deposits grew by 197%. These first data-points mark a successful transition of the Company to its next growth phase, as communicated at the Company's Annual General Meeting on August 11, 2022.
"The initial growth since transitioning to customer acquisition gives us increased confidence that our offerings, strategy, and financial forecast are on point," said Real Luck Group CEO Thomas Rosander. "Behind this success lies our platform's capability to localize language variations, payment methods and marketing campaigns in a granular way."
"We have also seen increased interest for high margin, micro-betting products. This is the core of our long term strategy, and we have invested significant effort and resources to develop the new, proprietary products that will transform the market. This key differentiator product, combined with our short term organic growth and strong balance sheet, hasn't gone unnoticed by industry participants. We will continue to share more details, insights and progress, including at future industry events, such as SBC Barcelona and iGaming Next in Valletta, Malta, in the coming months."
About Luckbox
The Company is an award-winning betting company that offers legal, real-money betting, live streams, and statistics on all major esports and sports on desktop and mobile devices. The Company has a Business-to-Consumer (B2C) platform, and by leveraging shared technology, data, and resources, the Company can offer an extensive range of betting options for esports tournaments. The Company's in-house customized user interface and user experience, built on a technology stack that supports multiple odds and streaming sources, allows the Company to deliver deep esports betting coverage. The Company has been built by a team combining experience in the igaming industry and a passion for esports to offer players a unique, broad, engaging, and legal CS:GO betting, Dota 2 and League of Legends betting experience. The Company serves esports fans in more than 80 territories across the globe. In November 2020, Luckbox was named Rising Star at the EGR Operator Awards. The Company (via the Group) holds a full licence under the Online Gambling Regulation Act (OGRA), issued by the Isle of Man Gaming Supervision Commission. As the Group is fully licensed in the Isle of Man for B2C and B2B esports & sports betting and casino, the Company has access to favourable payment processors. Luckbox is committed to supporting responsible gambling.
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CAUTION WITH RESPECT TO FORWARD-LOOKING STATEMENTS
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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SOURCE Real Luck Group Ltd.
