Real Luck Group Ltd. Files Full Year 2020 Financial Results
Real Luck Group Ltd (OTCQB: LUKEF) announced its fiscal 2020 results, highlighting significant milestones despite challenges from COVID-19. The company successfully completed an oversubscribed equity financing and listed on the TSX Venture Exchange. With a focus on esports betting, Real Luck increased its audience organically while facing event postponements. In 2021, the company secured $17.8 million from a Private Placement to enhance its platform and marketing. Key developments included adding sports betting options, implementing payment processors, and appointing a new Chief Customer Officer.
- Secured $17.8 million from Private Placement of Special Warrants.
- Expanded betting offerings to include over 100 sports.
- Improved user experience with new payment processors.
- Appointed experienced Chief Customer Officer to accelerate growth.
- Uplisted to OTCQB Exchange, expanding investor access.
- Second-half 2020 saw a decline in esports events, impacting revenue potential.
CALGARY, AB and ISLE OF MAN, United Kingdom, April 30, 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 full year 2020 on SEDAR.
"Fiscal 2020 was an important year for our young company as we achieved several important milestones, including our oversubscribed equity financing and public listing on the TSX Venture Exchange," said CEO Quentin Martin. "Our focus throughout fiscal 2020 was on developing our proprietary esports betting platform and, despite nominal marketing spend, we were able to organically and efficiently increase our audience as the global pandemic brought esports betting into focus during early 2020. However, the calendar of esports events was adversely impacted, particularly in the second half, due to the postponement of the biggest esports event of the year - the Dota 2 International. This year's esports calendar looks much better, and our strong balance sheet positions us for healthy growth in 2021 and 2022. As we continue to grow our team, enhance our product and spread the word about Luckbox with a comprehensive marketing strategy in place, we look forward to offering our customers the opportunity to wager on several highly anticipated events."
"We are well capitalized owing to the successful Private Placement of Special Warrants in March 2021 to execute our mission of delivering Esports Betting Done Right," said Chief Customer Officer Thomas Rosander. "As well as accelerating our customer acquisition efforts, this capital enables us to continue improving the Luckbox platform, strengthening our team, and engaging with relevant third parties to create the world's leading esports betting platform, with fundamentals in place to ensure long-term growth. To this end, we are implementing new, data-driven systems ahead of significantly accelerating our customer acquisition efforts in order to ensure the highest possible return on investment from our marketing spend. We look forward to sharing the success of these new marketing programs during 2021."
Subsequent events to 2020
Milestones achieved by the Company in 2021 so far:
- Completion of Private Placement of Special Warrants, with gross proceeds of
$17.8 million . - Addition of sports betting, allowing fans to wager on more than 100 sports in addition to esports, including soccer, football, basketball and tennis.
- Implementation of premium payment processors with partnerships including Skrill, NETELLER and Trustly, which reduce player friction.
- Appointment of Chief Customer Officer Thomas Rosander, former CEO of Dunder Casino, which achieved
€1 million in gross gaming revenue in less than one month and saw a monthly growth rate above17% over two years. - Partnership with Income Access, an industry-leading affiliate marketing platform, which we expect will enable us to more effectively deploy capital towards customer acquisition.
- Uplist to OTCQB Exchange, allowing a larger investor base to participate in our growth.
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.
Cautionary Note Regarding Forward-Looking Statements: This release includes 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 belief that the Company's strong balance sheet positions it for healthy growth in 2021 and 2022; the capital raised from the Special Warrant Private Placement will enable the Company to continue improving the Luckbox platform, strengthen its team and engage with relevant third parties to create the world's leading esports betting platform; and that the Company's partnership with Income Access will enable the Company to more effectively deploy capital towards customer acquisition 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 press release, including that management will be able to leverage its balance sheet position and working capital to achieve its stated growth objectives and that the Company's partnership with Income Access will yield positive results on customer acquisition. 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 esports betting will not continue to rise in popularity; and that the strategies developed by the Company to effectively position itself in the market will not be as successful as expected by management or at all. 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.
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