Luckbox releases online casino platform
The move expands the company’s footprint away from esports and betting.
Real Luck Group’s subsidiary, Luckbox, has launched casino games on its online betting platform. This new feature expands the host of Luckbox’s offerings, which until the casino feature went live earlier today, only had esports and sports betting.
In broadening its features, the Calgary-based Real Luck is hoping to cash in on what is a very lucrative market globally. The online casino market reached an estimated $134.9bn in 2021; this figure is expected to grow to $159.8bn by 2026.
In a statement, the company also announced that it had released an aggregate of 4,650,000 stock options to its directors, employee officers and consultants. The shares will go for CA$0.205, their price at closing on December 17, 2021, and the offer is exercisable for three years from the date of the grant.
Luckbox’s CEO, Thomas Rosander, has commented that the new platform is an attempt to exploit this market and to redirect the company in general: “Most of our efforts this year have focused on recalibrating our next-generation wagering platform. The online casino deployment marks the most substantial and first visible milestone in that process and we achieved this prior to year end.”
He noted that the accomplishment is part of a pattern indicating the path to future growth: “We will continue to iteratively enhance our proprietary products as we strive towards providing a superior betting experience for the next generation of players.”
Rosander then hit an optimistic tone regarding where the company now stands: “With almost $16m of cash and no debt, as of September 30, 2021, Real Luck Group is well-capitalized to continue evolving our Luckbox platform and execute on our organic player marketing program, as we embark on our revenue growth phase.”
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