Kings Entertainment Shares March Operational Highlights
Kings Entertainment reported a 15% increase in active players to 5,200 and a remarkable 72% surge in new depositors for March 2022. Despite lower jackpot sizes affecting overall lottery revenues, the company continues to grow its customer base significantly. CEO Steve Budin highlighted the strength of their brands, attributing customer retention to effective organic growth strategies. The firm plans to utilize paid marketing campaigns when jackpot sizes justify the investment. The operations are vital to ongoing business health in the online gambling sector.
- 15% increase in active players to 5,200.
- 72% rise in new depositors since February.
- Strong brand retention without large jackpots.
- Focus on organic growth and CRM strategies.
- Revenue impact due to historically low jackpots.
Active players increased by 15 per cent and new depositors jumped by 72 per cent in March
VANCOUVER, BC, April 12, 2022 /PRNewswire/ - Kings Entertainment Group Inc. ("Kings Entertainment" or the "Company"), an international online service provider for lottery, casino, and sportsbook gambling and parent company of global online gaming innovators LottoKings and WinTrillions, is pleased to share highlights from its operations in March 2022, including new registrations, growth in depositing customers and continued casino growth.
The month of March saw solid performance from Kings Entertainment. Unlike traditional sports and casino businesses, which fluctuate on a seasonal basis, the lottery sector is heavily reliant on jackpot size for revenue. Despite the dampening effect of historically low jackpots, the Company's active players increased by 15 per cent to 5,200 in the month of March as compared to the previous month. New depositors also continued to flock to Kings Entertainment's flagship brands, LottoKings and WinTrillions, jumping by 72 per cent since February.
"We're very pleased that we were able to continue to increase our base of active customers so significantly in March," said Steve Budin, CEO of Kings Entertainment. "Building, growing and retaining this base of active players is the key to the health of any gambling operation."
"That we've been able to continue to acquire and retain customers without the incentive of large jackpots is a testament to the strength of our brands," added Mr. Budin. "We remain focused on organic growth and CRM strategies to build our base, and also plan to strategically deploy paid marketing programs when jackpot sizes warrant the investment in promotional campaigns."
Kings Entertainment (CSE:JKPT) is an international online service provider for lottery, casino, and sportsbook gambling and parent company of global online gaming innovators LottoKings and WinTrillions. These brands leverage their ability to acquire high-potential players through renowned lottery offerings, then engage players in a range of casino and sportsbook offerings. LottoKings and WinTrillions have attracted and retained millions of player sign-ups since their inception.
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that the Company anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements with respect to: the Company's business and business plans; the Company's strategy and current focus on developing brands in the global online gaming market; and global market opportunities in the online gaming space, including in respect of anticipated growth. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement and the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Trading in the securities of the Company should be considered highly speculative.
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SOURCE Kings Entertainment
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