After a tricky couple of years in financial terms as the company focused on developing its platform and core business opportunities, Real Luck Group LTD, the owner of Luckbox Esports and its newly released casino, published its Q1 2022 financial results.
And there was more positive news for investors in the company after a solid set of results over that first quarter of 2022.
In a press release authored by Real Luck Group LTD CEO Thomas Rosander, the company revealed many of its highlights of the opening quarter of the fiscal year.
“Strengthened Our Leadership Team”
Mr Rosander claimed that the company had “strengthened our leadership team with the appointments of Ben Timbury as Chief Operating Officer and Bo Wanghammer to the Board of Directors.”
And as the company had promised after less than stellar results in 2021, they have also started to make serious moves into acquiring more players.
“Additionally, we embarked on the initial stages of our player acquisition campaigns, adding new partnerships with some of the biggest global player acquisition and referral networks.
We continue to monitor and optimize our acquisition metrics, with the aim of maximizing ROI on marketing spend, despite player acquisition costs trending upwards in recent months,” stated Mr Rosander.
In addition, Mr Rosander revealed that the company had no debt and reserves of $12.5 million in cash. Furthermore, reviews of the companies costs have identified ways in which an annual amount of $500,000 can be saved and reinvested into the business.
He also revealed that the company remains focused on growing its customer base.
“We have been focused on new opportunities to grow our user base, in a pragmatic and cost-effective manner, while focusing on our core esports market.
Gaming revenues from esports betting in global markets, is forecast to grow at an unprecedented average of 17.6% year on year to 2026 in regulated markets alone – a faster rate than sports betting.
We play to grow our user base by entering new markets with additional local gaming licenses, while also rolling out our proprietary B2B offering, and an accretive M&A strategy, which we look forward to sharing with investors soon.”
Some of the other highlights reported in the statement include the expansion of providers for Luckbox Casino, which has seen an increase of 815% in terms of the games available to play on the site.
In addition, the company also revealed more than 50 new affiliate sites which will refer them players and see an increase in traffic to Luckbox sports, casino and esports betting site.
Furthermore, following the data from this report, Luckbox have further enhanced their casino offering by agreeing a deal with Microgaming to offer an additional 100+ games to the casinos offering including popular TV and Film Tie in slots, Game of Thrones and Jurassic World.
The company has also been nominated in the Brand of the Year and Innovation in Esports categories for the EGR Marketing and Innovation awards later this year.
With a far greater calendar of esports events in 2022 and moving forward, plus enhancements such as live esports betting, additional casino and sports betting markets and the continued focus on player acquisiton, this first quarter set of results paints a positive picture for Real Luck Group Ltd.