Real Luck Group reports Q2 financial results
Period also saw chief customer officer Thomas Rosander promoted to CEO.
Real Luck Group has today announced the company’s financial results for the period ending June 30, 2021. The statement focuses on the financial findings and business dealings of the company’s subsidiary, Luckbox, which provides esports betting services for popular competitive video games.
The period also saw Thomas Rosander promoted from chief customer officer to chief executive officer.
“The second quarter was a busy and transitional period for Luckbox, during which I took over as CEO on May 10,” said Rosander. “My priority has been to identify areas for improvement on the Luckbox platform, and I am pleased to say the team has made several technical improvements and formed new partnerships that we believe move us closer to generating long-term revenue growth in the booming esports betting sector, starting before the end of the year.”
Q2 saw Luckbox raise $17.2m in cash while accruing zero debt. The period also saw the esports wagering company add an option to bet on the popular first-person-shooter multiplayer video-game Valorant.
During the second quarter of 2021, Luckbox signed a number of partnerships with the goal to improve numerous platform functional areas, including player payment options, registration and business intelligence.
The period also saw the esports platform finalize a partnership with Publishme, who will aid in building in-house marketing content. Furthermore, the company partnered with SolutionsHub to explore further licensing opportunities.
“This platform retooling was an intense and necessary phase to enhance our proprietary platform before increasing our marketing spend to acquire new players in order to improve the yield on our player marketing spend,” added Rosander. “Our balance sheet remains strong, with $17.2 million of cash and no debt, allowing us to continue executing our strategy to become the number one esports betting property.”
Luckbox allows players to wager on esports content, with platforms currently available for the popular video-games Counter-Strike GO, Dota 2, League of Legends and Valorant. The service, based in the Isle of Man, is available in over 80 territories.
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