Former PokerStars director and Mr Green CEO joins Real Luck Group Board

Rhea-AI Summary

Real Luck Group Ltd has appointed Bo Wänghammar, a veteran in the iGaming sector, to its board of directors, replacing Mike Stevens. Wänghammar, who previously held leadership roles at PokerStars and Mr Green, is expected to enhance the company's user acquisition and revenue growth strategies. The company granted him 300,000 stock options at C$0.21 each. This strategic move aims to leverage Wänghammar's expertise to improve operational performance and profitability as Luckbox expands its market presence.

Positive

• Appointment of Bo Wänghammar, a seasoned iGaming veteran, to enhance board experience.
• Wänghammar oversaw revenue doubling to over US$500 million at PokerStars.
• Granted 300,000 stock options to Wänghammar, aligning his interests with shareholder value.

Negative

• Mike Stevens resigned from the board, potentially indicating instability.
• Forward-looking statements come with risks; actual growth may not meet expectations.

iGaming veteran Bo Wänghammar replaces Mike Stevens as a board member

CALGARY/ISLE OF MAN, AB, March 9, 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 esports betting, sports betting and casino games, is pleased to announce the appointment of Bo Wänghammar to its board of directors.

Mr. Wänghammar has held leadership roles with established global igaming operators, having been Director of International Projects and Managing Director of Casino at PokerStars (acquired by Flutter Entertainment for US$6 billion in October 2019), and the CEO and Business Development Director at Mr Green & Co online casino (acquired by William Hill for £242 million In October 2018).

Mr. Wänghammar joins fellow directors Chairman Drew Green, CEO Thomas Rosander, Lloyd Melnick and Maruf Raza on the Real Luck Group Board, replacing Mike Stevens, who resigned from his position as a director to focus on his family and charity work.

Real Luck Group CEO Thomas Rosander said: "I am thrilled a seasoned operator such as Bo will be joining our board. This is an exciting stage for the company as we look to scale our user acquisition efforts and revenues and I believe his experience and guidance will be invaluable to Real Luck's growth strategy.

"His track record speaks for itself, as during his time as Director of Casino at PokerStars, he oversaw the doubling of revenues to more than US$500 million, growing the casino vertical to outperform the core poker offering. During Mr. Wänghammar's time at Mr Green the business grew quickly and achieved strong profitability and we believe he was instrumental in refactoring the technical infrastructure to launch a portfolio of award-winning products."

Grant of stock options

The Company announces that it has granted Mr. Wänghammar 300,000 stock options under the Company's stock option plan to the directors, employees officers and consultants of the Company at a price of C$0.21 per stock option, representing the closing price of the Company's shares on Tuesday, March 8, 2022, exercisable for a period of 3 years from the date of grant; vesting 10% immediately, 10% six months from the date of grant and 20% every six months after that.

About Luckbox

Luckbox is an award-winning next-generation gaming platform that offers legal, real-money betting, live streams, and statistics on all major esports, as well as sports betting and casino games on desktop and mobile devices. Luckbox is owned by Real Luck Group, listed on the Toronto Venture Exchange (TSXV: LUCK) and OTC (OTCQB: LUKEF). Luckbox's proprietary tech stack is built by a team combining gambling industry experience and a passion for gaming and esports, allowing the company to benefit from superior business intelligence and player acquisition, while providing players with an industry-leading betting user experience and betting offer. Luckbox is live in more than 80 territories worldwide and holds a B2C and B2B gambling license under the Online Gambling Regulation Act (OGRA), issued by the Isle of Man Gaming Supervision Commission. Luckbox is committed to supporting responsible gambling.

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.

Cautionary Note Regarding Forward-Looking Statements: This news release may contain certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including the scaling of user acquisition efforts and the Company's growth strategy, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur".

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including the ability of the Company to grow and scale user acquisitions and revenues. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. However, the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including without limitation: that the acquisition of users cannot be effectively scaled, and that Mr. Wänghammar's experience may not aid the Company's revenue and growth strategy. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

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SOURCE Real Luck Group Ltd.

FAQ

Who is Bo Wänghammar and what is his significance for Real Luck Group?

Bo Wänghammar is a seasoned iGaming executive appointed to the board of Real Luck Group, expected to drive user acquisition and revenue growth.

What stock options were granted to Bo Wänghammar?

Wänghammar was granted 300,000 stock options at a price of C$0.21, aligning his interests with those of the shareholders.

When did Real Luck Group announce the appointment of Bo Wänghammar?

The announcement was made on March 9, 2022.

What is the impact of Bo Wänghammar's appointment on LUKEF stock?

His appointment is seen as a positive move for LUKEF stock, aiming to improve the company's growth strategy and operational performance.