Luckbox expands to online casino gaming on revamped platform
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Real Luck Group, the parent company of esports and sports betting provider Luckbox, is launching online casino gaming on its revamped Luckbox platform, the Canada-based business announced on Monday.
The Luckbox casino, which is now live on the Luckbox wagering platform, is set to complement the existing offering of esports and sports betting. According to the group, casino games are expected to add near-term revenue to the business.
"Most of our efforts this year have focused on recalibrating our next-generation wagering platform,” said Luckbox CEO Thomas Rosander. “The online casino deployment marks the most substantial and first visible milestone in that process and we achieved this prior to year-end.”
The company cites figures by ResearchandMarkets.com which indicate the Global Online Casino Market is estimated to be $134.9 billion in 2021, and could reach $159.8 billion by 2026, growing at a CAGR of 3.45%. By launching online casino, Luckbox is now positioned to benefit from this growing market.
"The addition of casino brings Real Luck Group 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, which achieved annual revenues of €80 million in less than three years,” added Rosander.
The CEO further said the company will continue to “iteratively enhance” its proprietary products, in an effort to provide “a superior betting experience” for the next generation of players. He described the launching of online casino as a “milestone,” which was achieved within the timeline committed to stakeholders.
"With almost $16 million of cash and no debt, as of September 30th 2021, Real Luck Group is well-capitalized to continue evolving our Luckbox platform and execute on our organic player marketing program, as we embark on our revenue growth phase,” said the executive. "With this major effort now complete, we are in a position to turn our focus to our growth strategy.”
This strategy includes a plan to scale the company’s player acquisition efforts across all its verticals of esports betting, sports betting and online casino “early in the new year.” The business looks forward to sharing KPIs relevant with investors “soon.”
The company also announced it has granted an aggregate of 4.6 million stock options under its stock option plan to the directors, employees officers and consultants of the business at a price of C$0.205 per stock option.
The company also intends “to continue with investor relations arrangements” with capital markets advisory firm Sophic Capital Inc. Sophic receives a fee of $8,000 per month for ongoing investor relations services. In addition, Sophic was granted 200,000 options to acquire Luckbox Shares at a price of C$0.205.
