Calgary, Alberta and Isle of Man, Isle of Man--(Newsfile Corp. - May 29, 2023) - Real Luck Group Ltd. (TSXV: LUCK) (OTCQB: LUKEF) ("the Company") and its subsidiary companies doing business as "Luckbox," an award-winning provider of licensed, real money esports betting, sports betting and casino games, has filed financial results for the three months ended March 31, 2023 ("Q1 2023") on SEDAR.
Management Commentary
Real Luck Group CEO Thomas Rosander said: "For the past six months, we have generated record breaking monthly operating metrics after re-launching our business from a standing start in 2022. Q1 saw us generate a record quarterly Global Gaming Handle of around $9.5 million, with solid increases every month - $1.8 million in January, $2.6 million in February and $5.1 million in March. Whilst we incurred sizable upfront fixed costs to get our growth engine moving, the trend has continued in Q2, owing to our emphasis on enhanced player retention and reactivation. Global Gaming Handle in April was consistent with March, despite a 40% lower marketing spend. So far in May, our player stakes are up 20% compared to Q1 and player value in May is up substantially at 96% compared to Q1. We also continue to make headway with our proprietary B2B product, which is being received well by large potential B2C customers."
Q1 2023 Operational Highlights
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Ended Q1 2023 with player registrations of 387,000 up from 137,000 at the end of 2022.
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Generated Global Betting Handle of approximately $9.5 million during Q1, up from $3.2 million for the full year of 2022.
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Total Q1 2023 revenue was $624,503 vs $18,613 in Q1 2022 and $159,992 in all of 2022.
Subsequent events to Q1 2023
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At the end of April 2023, the Company's registered player base stood at 420,000.
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In April 2023, the Company generated record Player Deposits despite April being a short month and a 40% reduction in Marketing costs.
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In April, the Company announced that this marketing optimization drove a surge in high value players and boosted the average stake per player by 80% vs. Q1 2023. This marketing optimization was a major step towards profitability.
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 license 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 favorable payment processors. Luckbox is committed to supporting responsible gambling.
For further information, please contact:
Real Luck Group Ltd.
Thomas Rosander, Chief Executive Officer
Email: investment@luckbox.com
Phone: (647) 670 2882
Investor Relations
Nikhil Thadani, Sophic Capital
Email: nik@sophiccapital.com
Phone: (647) 670-2882
Follow Luckbox on Twitter / Facebook / LinkedIn
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 affecting such statements and information other than as required by applicable laws, rules and regulations.
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