Real Luck Group Ltd, the owner of the esports and sports betting company Luckbox, has announced its financial results for H1 and Q2, 2022. The company recorded a net loss of CAD$4.03m (~£2.63m) in the first six months of 2022, of which CAD$1.96m (~£1.28m) was accumulated in Q2.
Nonetheless, Luckbox is free of debt and has a positive balance of CAD$10.6m (~£6.92), which CEO Thomas Rosander considers “enough capital to execute on our growth strategy.”
Despite the losses, which were slightly lower than 2021’s figures, Luckbox highlighted that it has secured partnerships and agreements with more than 50 global player acquisition channels, and has added ‘over 300 games’ to its casino offering throughout the first half of 2022.
The company says it expects both these factors to drive traffic and increase revenue on the website.
Rosander claimed the company is running according to its planned schedule. “During the second quarter of 2022, the Company finalised its platform in anticipation of the next phase of the Company’s growth — acquiring and monetizing players,” Rosander said in a release.
Rosander also stated that initial company results at this phase were ‘promising’, forecasting the online casino to establish a positive monthly balance by the second half of 2023.
In July, Luckbox announced Daniel Sanders, formerly of Tencent Games, as its Director of Marketing. Sanders was mentioned in the financial report as a key player in the company’s growth, particularly in regard to his his experience with player acquisition.
Another major change in the Real Luck Group Ltd.’s board in 2022 was the appointment of Benn Timbury in March as its new COO. At the time of the announcement, the company was already expressing its desire to enhance its player acquisition efforts.