Real Luck Group Ltd. Files 2021 Q1 Financial Results

Rhea-AI Summary

Real Luck Group Ltd. (TSXV: LUCK, OTCQB: LUKEF) announced its Q1 2021 financial results, highlighting a successful private placement generating $17.8 million to support growth initiatives. CEO Thomas Rosander emphasized optimizing the product platform and customer acquisition strategy. Key milestones included the launch of VALORANT betting, achieving DTC eligibility, and receiving nominations at the EGRM Marketing Awards. The company operates a robust esports betting platform, licensed under OGRA, serving customers in over 80 territories globally.

Positive

• Raised $17.8 million through a private placement to fund growth.
• Introduced VALORANT betting, expanding esports offerings to 14 titles.
• Achieved DTC eligibility, broadening investor participation.

Negative

• None.

CALGARY, AB and ISLE OF MAN, May 31, 2021 /PRNewswire/ - Real Luck Group Ltd. (TSXV: LUCK) (OTCQB: LUKEF) ("Real Luck Group" or the "Company") and its subsidiary companies doing business as "Luckbox" (the "Group"), an award-winning provider of legal, real-money esports and sports betting, today filed financial results for the three months ending March 31 on SEDAR.  Unless otherwise stated, all dollar amounts are denominated in Canadian dollars.

Company Chief Executive Officer Thomas Rosander said: "We spent the first quarter of 2021 building a solid foundation from which Luckbox can grow. We closed a Private Placement of Special Warrants for gross proceeds of $17.8 million, giving us the capital to execute on our growth goals through the rest of this year and beyond. We are focused on optimizing our product platform and customer acquisition funnel to increase ROI ahead of scaling up our marketing spend. In addition, we are strengthening our team and working with carefully selected partners as we continue to strive toward offering a world-leading esports betting product. I look forward to updating investors with more information in the months to come."

Subsequent events to 2021 Q1

Milestones achieved by the Company in 2021 Q1:

• Appointment of former Dunder Casino CEO Thomas Rosander as Real Luck Group CEO;
• Addition of VALORANT betting, increasing the number of esports available at Luckbox to 14;
• DTC Eligibility after uplisting to OTCQB Exchange, allowing a larger investor base to participate in our growth;
• Nominations in the Innovative Start-up and Innovation In Esports categories at the EGRM Marketing and innovation awards.

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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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.

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SOURCE Real Luck Group Ltd.

FAQ

What were Real Luck Group's Q1 2021 financial results?

Real Luck Group reported positive growth initiatives backed by $17.8 million raised from a private placement, although specific financial metrics were not detailed.

What is the significance of the private placement of <b>$17.8 million</b> for LUKEF?

The $17.8 million private placement will provide crucial capital for growth and optimization of Real Luck Group's esports betting platform.

How many esports titles can be bet on through Luckbox?

Luckbox now offers betting on 14 esports titles, including the newly added VALORANT.

What milestones did Real Luck Group achieve in Q1 2021?

In Q1 2021, Real Luck Group appointed a new CEO, expanded betting options to 14 esports, and attained DTC eligibility.