Real Luck Group (TSX-V:LUCK, OTCQB:LUKEF) Ltd and its group of subsidiary companies doing business as 'Luckbox' has released its 2Q results for the period ending June 30, 2021.
The esports and sports betting conglomerate ended the second fiscal quarter of the year with $17.2 million in cash and no debt.
"The second quarter was a busy and transitional period for Luckbox, during which I took over as CEO on May 10,” Thomas Rosander, chief executive officer of Real Luck said in the statement.
READ: Real Luck Group partners with Bambora to add PaymentIQ to the Luckbox platform
Rosander added: “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 $17.2 million of cash and no debt, allowing us to continue executing our strategy to become the number one esports betting property."
The Luckbox brand is an award-winning provider of legal, real-money esports and sports betting. Built by a team combining vast experience in the igaming industry and a passion for esports, Luckbox offers players a unique and legal CS:GO betting, Dota 2 and League of Legends betting.
Some of Luckbox’s 2Q highlights included:
- Thomas Rosander promoted from chief customer officer to chief executive officer
- Luckbox shortlisted for two EGR Marketing and Innovation Award
- 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
Earlier this month Real Luck announced that it was partnering with Bambora to add the latter’s PaymentIQ gateway to the Luckbox platform. Real Luck noted the agreement is designed to drive revenue by delivering Luckbox players frictionless deposit options.
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