Real Luck Group Reports Q3 2021 Financial Results
CALGARY, AB and ISLE OF MAN, Nov. 30, 2021 /PRNewswire/ - Real Luck Group Ltd. (TSXV: LUCK) (OTCQB: LUKEF) ("Real Luck Group" or the "Company") and its subsidiary companies doing business as "Luckbox" (the "Group"), an award-winning provider of legal, real-money esports and sports betting, today filed financial results for the nine months ending September 30, 2021 on SEDAR.
Company Chief Executive Officer Thomas Rosander said: "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. I am delighted to say our efforts during Q3 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 Q4. As a result, we will be in a position to launch our player acquisition efforts in Q1 2022, by starting meaningful marketing for the first time in the Company's history."
Q3 2021 Luckbox highlights
Strong cash position -- The Company ended Q3 2021 with $15.8 million in cash, and no debt.
During the quarter, the Company completed several key platform integrations, as part of the Company's 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.
Industry recognition -- The Company was informed it had been shortlisted in two categories at the EGR Marketing Awards 2021. Luckbox, which was named Rising Star at the EGR Operator Awards in 2020 and was shortlisted in the Esports Operator and In-House Product categories.
Head of data to drive superior BI infrastructure -- As part of our drive to build a superior business intelligence infrastructure, the Company appointed data scientist David Conde as its new Head of Data. Mr Conde is an experienced data scientist with a background in igaming and telecommunications.
Partnership with leading payment provider Nuvei (TSX: NVEI) -- Nuvei is fully integrated and live on the Luckbox platform, which will allow new and existing customers a comprehensive choice of payment options when betting on the Luckbox platform.
Preparing for casino launch and player acquisition -- Our team has continued to work with new partners to not only serve its existing player base but to finalise improvements to the Luckbox platform preparing for the launch of casino in Q4 2021 and subsequent player acquisition efforts.
The Company is an award-winning betting company that 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 can offer an extensive range of betting options for esports tournaments. The Company's in-house customized user interface and user experience, built on a technology stack that supports multiple odds and streaming sources, allows the Company to deliver deep esports betting coverage. The Company has been built by a team combining experience in the igaming industry and a passion for esports to offer players a unique, broad, engaging, and legal CS:GO betting, Dota 2 and League of Legends betting experience. The Company serves esports fans in more than 80 territories across the globe. In November 2020, Luckbox was named Rising Star at the EGR Operator Awards. The Company (via the Group) holds a full licence under the Online Gambling Regulation Act (OGRA), issued by the Isle of Man Gaming Supervision Commission. As the Group is fully licensed in the Isle of Man for B2C and B2B esports & sports betting and casino, the Company has access to favourable payment processors. Luckbox is committed to supporting responsible gambling.
CAUTION WITH RESPECT TO FORWARD-LOOKING STATEMENTS
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including the anticipated launch of the Company's casino platform and the timing of such launch and the proposed marketing program targeting additional player acquisition efforts anticipated to occur in Q1 2022, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the ability of the Company to launch its casino platform in Q4 2021. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. However, the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including without limitation: that the launch of the casino platform cannot be completed in Q4 2021. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
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SOURCE Real Luck Group Ltd.
Company Codes: OTC-QB:LUKEF, TorontoVE:LUCK
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