The first-quarter results for Real Luck Group Ltd were announced today. The report also noted new appointments on the company's leadership team.
Thomas Rosander, Real Luck Group CEO said: "The first quarter of 2022 saw the company continue to make vast improvements to our platform, as we strive to become the world's number one esports betting destination."
He continued: "We have now introduced more than 400 games and products, including the newly launched online Luckbox casino, a vertical designed to bring engaging content to our players and near-term revenue to the business."
The Q1 2022 operational highlights revealed the partnership with online casino supplier Microgaming to add more than 100 games to Luckbox's casino. The company ended the quarter with 421 games on the Luckbox online casino platform.
The company also ended the first quarter with partnerships and agreements with over 50 global new player referral affiliate sites. On March 1, Real Luck Group appointed Benn Timbury as COO.
Speaking about the recent hires, Rosander said: "We have also strengthened our leadership team, with the appointments of both Benn Timbury as Chief Operating Officer and Bo Wanghammer to the Board of Directors."
Rosander also made a statement regarding cash and debt, saying: "We have $12.5 million of cash and no debt and we are managing our cash prudently, giving us the necessary resources to execute our growth strategy."
Rosander continued: "We are continually reviewing our cost base to optimize efficiencies and have identified $0.5 million of annualized savings, which we will reinvest into the business, including our player acquisition budget this year."
Rosander also expects gaming revenue from esports betting in global markets to grow by 17.6% year-over-year to 2026.
The increase to 421 games on the Luckbox platform was an 815% growth from Q4 of 2021.
