Real Luck Group (TSX-V:LUCK, OTCQB:LUKEF) Limited and its subsidiaries, doing business as ‘Luckbox’, have released third-quarter results, showing a strong cash position ahead of player acquisition efforts.
The esports and sports betting conglomerate said it ended September with $15.8 million in cash and no debt.
During the quarter, it said it completed several key platform integrations as part of its previously communicated platform rebuild strategy. These integrations include: Solitics for customer engagement and business analytics; Aspire Global for casino games, sportsbook including esports; Funanga for secure cash deposits; Bambora for expanding payment option; and Checkin.com for customer onboarding.
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"The team has been focused on enhancing our proprietary platform by building a superior business intelligence infrastructure, offering a unique and modern user experience tailored to the next generation of bettors, while ensuring maximum coverage of esports betting opportunities,” CEO Thomas Rosander said in a statement.
“I am delighted to say our efforts during 3Q have paved the way for the addition of casino, which is an important anticipated near-term revenue driver that we expect to be live in 4Q.
“As a result, we will be in a position to launch our player acquisition efforts in 1Q 2022, by starting meaningful marketing for the first time in the company's history,” Rosander added.
Following the end of the quarter, the company said it appointed data scientist David Conde as its new head of data as part of its drive to build a superior business intelligence infrastructure.
It also announced a partnership with leading payment provider Nuvei, which will allow new and existing customers a comprehensive choice of payment options when betting on the Luckbox platform.
The company said it is now preparing for casino launch and player acquisition as it finalizes improvements to the Luckbox platform.
Luckbox’s in-house customized user interface and user experience is built on a technology stack that supports multiple odds and streaming sources, allowing the company to deliver deep esports betting coverage.
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