Real Luck Group Ltd (TSX-V:LUCK, OTCQB:LUKEF) and its subsidiary companies doing business as Luckbox told investors that operating metrics for January followed December's metrics, which exceeded objectives.
The award-winning provider of licensed esports betting, sports betting and casino games said it achieved over C$1.6 million in Global Betting Handle. Additionally, monthly revenue grew by 110% and Total First Time Depositing Players increased by 182% since December.
"This strong month-to-month growth was expected and is simply a result of the collective experience that our team has acquired from driving growth at prior companies,” Real Luck Group CEO Thomas Rosander said in a statement.
“We are currently only harnessing about a quarter of the player acquisition channels we have at our disposal, and are confident about our growth trajectory and ability to continue delivering favorable results,” he added.
READ: Real Luck Group announces strong end to 2022 with record-breaking December
The company noted that after six months of player acquisition efforts, its registered player base now exceeds 250,000.
Its next focus is twofold, it added. Firstly, it plans to direct its efforts on ramping player value, with Total Player Deposits and Global Betting Handle being key performance measurables. Secondly, it is building a proprietary technology stack which it expects to be transformational for the industry.
The product is an ultrafast, live micro-betting platform that it believes will allow it to increase revenue growth and margins from its business-to-consumer (B2C) operations. It also positions the company to expand into the lucrative business-to-business (B2B) market with unique and proprietary products.
“Independently from our B2C efforts, we are also looking ahead towards our planned B2B products. This would represent a completely new and additional line of business for Luckbox,” Rosander said. “We are eager to share more details about this new growth initiative later this year."
Real Luck Group 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, offers an extensive range of betting options for esports tournaments.
Contact the author at stephen.gunnion@proactiveinvestors.com