Real Luck Group Ltd (TSX-V:LUCK, OTCQB:LUKEF), and its subsidiary companies doing business as Luckbox, announced that more than $23.9 million was wagered across its licensed, real money esports betting, sports betting and casino games platform in the year-to-date from a registered player base of more than 450,000 users.
The company highlighted that it achieved yet another high in July for its average revenue per user.
Real Luck also achieved a positive net contribution, defined as net gaming revenue minus the cost of sales less marketing, for the first time in both June and July as it has made optimizations and reduced its operational costs.
However, attributed in part to the difficult fundraising environment, the company said it was unable to complete its proposed private placement, first announced on July 7, 2023.
Real Luck said it received significant interest from both its B2C platform and wholly owned B2B micro-betting product and that it is now actively exploring alternative strategic options.
"We have continued to demonstrate operational improvements into 3Q 2023 and have made significant optimizations and reductions in our operational costs," Real Luck CEO Thomas Rosander said in a statement.
"While we are pleased with our business results, which have grown at a faster pace than we initially expected, our recently announced capital raise was unsuccessful in raising a satisfactory amount of capital in a timely manner. This has led us to pursue alternative options to strengthen our balance sheet and enable us to deliver our targets this year."
Real Luck 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.
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