Sports and esports betting company Luckbox has bolstered its expansion plans in South America through a partnership with Peruvian esports organisation Thunder Awaken.
Four days after the esports organisation announced the sponsorship through a Facebook post, Luckbox has now disclosed how the deal impacts its LATAM strategy.
The deal is an investment by Luckbox, an entity owned by the Canadian holding company Real Luck Group, to keep expanding into new markets. According to a release, South America caught the attention of the betting company, especially after an increase in registered users from Brazil was observed on the platform across October.
Luckbox stated that in Latin America a large number of players discover the company’s betting platforms through teams and influencers, a conclusion reached by the company that was a key factor in going after a regional esports organisation to sponsor.
Daniel Sanders, Director of Marketing at Real Luck Group, stated: “Peru is a strategically important market for us. Not only given the huge interest in esports, but also for expanding our online Casino and Sportsbook offerings to bettors in this vibrant market.”
Thunder Awaken is one of Peru’s leading esports organisations. It is currently undergoing a successful campaign at Dota 2’s The International 11, qualifying for the upper bracket playoffs with a 3rd place finish in Group B. Alongside Luckbox, Thunder Awaken’s commercial portfolio also includes the likes of Intel and McDonald’s.
According to Luckbox, the partnership with Thunder Awaken comes with a ‘significant branding and country-wide integrated approach in Peru’.
“We look forward to working with local regulators and providing additional details regarding our LATAM growth strategy over the coming months,” added Sanders.
The company’s aggressive expansion resulted in a net loss of CAD$4.03m (~£2,60m) in the first six months of 2022. Real Luck Group, though, still maintained a positive balance with capital to continue with its growth plans.