Real Luck Group Reports Q2 2021 Financial Results
Real Luck Group Ltd. (TSXV: LUCK, OTCQB: LUKEF) reported its Q2 2021 financial results on August 25, 2021. The company ended the quarter with $17.2 million in cash and no debt. CEO Thomas Rosander, who took over on May 10, emphasized improvements to the Luckbox platform, new partnerships, and plans to enhance marketing for player acquisition. The quarter saw the addition of VALORANT wagering and nominations for two EGR Marketing and Innovation Awards. The company aims to capitalize on the growing esports betting sector by increasing long-term revenue growth.
- Ended Q2 2021 with $17.2 million cash and no debt.
- New partnerships and platform improvements aimed at boosting revenue.
- VALORANT wagering added to Luckbox platform.
- None.
CALGARY, AB and ISLE OF MAN, Aug. 25, 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 June 30 on SEDAR.
Company Chief Executive Officer Thomas Rosander said, "The second quarter was a busy and transitional period for Luckbox, during which I took over as CEO on May 10. My priority has been to identify areas for improvement on the Luckbox platform, and I am pleased to say the team has made several technical improvements and formed new partnerships that we believe move us closer to generating long-term revenue growth in the booming esports betting sector, starting before the end of the year. This platform retooling was an intense and necessary phase to enhance our proprietary platform before increasing our marketing spend to acquire new players in order to improve the yield on our player marketing spend. Our balance sheet remains strong,with
Q2 Luckbox highlights
- Thomas Rosander promoted from Chief Customer Officer to Chief Executive Officer
- Luckbox shortlisted for two EGR Marketing and Innovation Awards
- VALORANT wagering added to Luckbox platform
- Completed partnerships to improve numerous platform functional areas, including player payment options, player registration and business intelligence
- Partnership with Publishme to build in-house content marketing studio
- Engagement with SolutionsHub to explore further licensing opportunities
- Ended Q2 2021 with
$17.2 million in cash, and no debt
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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SOURCE Real Luck Group Ltd.
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