Real Luck Group Ltd (TSX-V:LUCK, OTCQB:LUKEF), which along with its subsidiaries conducts business as Luckbox, has published full-year results, which showed that the company had cash balances of $14.4 million on December 31, 2021.
With no debt, the company is “in a strong position to deliver on our growth goals in 2022 and beyond”, said CEO Thomas Rosander in a statement.
Luckbox is a wagering platform built for a new generation of players, offering betting on esports, sports and casino games.
"During fiscal 2021, our team worked to enhance and extend both our proprietary platform and infrastructure, positioning us to launch our player acquisition efforts in 2022,” the CEO said in a statement.
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“Our work has enabled us to develop and launch a next-generation wagering platform, powered by superior business intelligence infrastructure to support our player acquisition efforts, with the aim of optimizing marketing spend and player value,” Rosander added.
"We concluded the year with the online casino launch, bringing an expected near-term revenue stream in a vertical where I have had prior successes throughout my career, including my tenure as CEO of Dunder.”
The company said it looks forward to launching its offerings in Ontario and expects to enter additional regulated markets during 2022.
"We remain focused on esports and casino wagering as well as growing our user base and are constantly evaluating opportunities to scale the business. Recent market developments and our robust balance sheet put us in a position of relative strength in order to do so and we will update investors on these initiatives as progess is made," Rosander concluded.
Luckbox 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 offers an extensive range of betting options for esports tournaments.
Contact the author at jon.hopkins@proactiveinvestors.com