Real Luck Group Ltd (TSX-V:LUCK, OTCQB:LUKEF) and its subsidiaries (known as Luckbox) filed second-quarter results, and CEO Thomas Rosander teased the company’s next growth phase in a statement released Wednesday.
The company ended the quarter with more than 700 games from six providers on its newly launched Luckbox online casino, an increase of roughly 66% in games content from the first quarter.
That increase is part of a larger push, according to Rosander.
READ: Real Luck Group announces partnership with Microgaming at ICE 2022 to enhance Luckbox online casino
"During the second quarter of 2022, the company finalized its platform in anticipation of the next phase of the company's growth — acquiring and monetizing players,” Rosander said in a statement.
He continued, “To support this transition, we continued to introduce more games and features to our online casino, a high-margin vertical designed to bring engaging content to our players and near-term revenue. Given our ambitious goals to become a tier one operator and to respond to player demand, we added over 300 games to our casino offering, proving that we can react and maneuver to the market to enhance our player experience."
The company ended the second quarter with partnerships and agreements across more than 50 global player acquisition channels. These partnerships and agreements are designed to increase player traffic to Luckbox's next-generation esports, sports and casino real-money betting products, the company said.
"Initial results during this next growth phase are promising, and with online casino forecasted to drive positive monthly EBITDA (earnings before interest, tax, depreciation and amortization) in second half 2023,” Rosander said. “This together with continued onboarding and monetizing of players, new business initiatives, and a balance sheet that has about $10.6 million of cash and no debt, we believe that we have enough capital to execute on our growth strategy."
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.
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