Luckbox debuts on TSX Venture Exchange

Real Luck Group Ltd, Luckbox’s parent company, has made its debut on Toronto’s TSX Venture Exchange (TSXV) trading under the ticker ‘LUCK’.

Luckbox mobile
Luckbox mobile US letter. Credit: Luckbox

RELATED: Luckbox CEO: Going public is the hardest thing I’ve done

The esports betting company is loosely aiming for a closing market capitalisation of CAD $28.2m (~£16.2m), CEO Quentin Martin told Esports Insider earlier this month, adding that the company is “hopeful [that the number] can go up. We believe we’re well-priced compared to our competitors.”

Luckbox grew 500 percent through 2020, making the most of a purple patch for the esports betting industry. “Lockdown really accelerated esports betting years into the future,” Martin told Esports Insider. “It’s been a period of hyper-growth for sure.” Martin also claims that Luckbox retained 75 percent of its new customer gains during the COVID-induced global lockdowns.

“These are exciting times and 2021 will be a very busy year for us,” Martin said in a release. “So far, almost all of our growth has been organic and the potential for growth through marketing is huge.”

In June this year, Luckbox closed an investment round totalling CAD $3.8m (~£2.2m). One month later the company raised another CAD $5m (~£2.9m), including funding from Major League Soccer player Luis Robles. 

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Although based in the Isle of Man, the company will list in Canada on the TSXV having developed a strong investor network in the country. According to a release from the company, the listing comes just 20 months after Luckbox accepted its first bet. The company was founded in 2016.

Esports Insider says: While many esports teams and tournament organisers struggle to make money, esports betting companies chug along unharmed by the global pandemic. Luckbox is one of the very few esports-specific betting companies that has gone public. Don’t be surprised to see more in the coming months and years.

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