August 24, 2022 Finance, Canada, Results

Real Luck Group reports substantial growth during Q2 2022

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Its Luckbox subsidiary has increased its gaming portfolio by 66%.

Real Luck Group has published its second quarter financial results for the period ending June 30. The company ended the quarter with 700 games from six providers on its Luckbox online casino.

Real Luck Group CEO Thomas Rosander said "Initial results during this next growth phase are promising, and with online casino forecasted to drive positive monthly EBITDA in second half 2023.

“This together with continued onboarding and monetizing of players, new business initiatives, and a balance sheet that has about CA$10.6m ($8.4m) of cash and no debt, we believe that we have enough capital to execute on our growth strategy."

During Q2, Real Luck Group and its subsidiary Luckbox partnered with online casino software supplier Microgaming. The collaboration added nearly 100 new titles to LuckBox’s portfolio, including 9 Masks of Fire, Book of Oz, Immortal Romance, as well as other well-known titles such as Jurassic World, Game of Thrones and Lara Croft.

Rosander summarized the company’s achievements during the quarter. He said: "During the second quarter of 2022, the company finalized its platform in anticipation of the next phase of the company's growth - acquiring and monetizing players. To support this transition, we continued to introduce more games and features to our online casino, a high-margin vertical designed to bring engaging content to our players and near-term revenue.

“Given our ambitious goals to become a tier one operator and to respond to player demand, we added over 300 games to our casino offering, proving that we can react and maneuver to the market to enhance our player experience."

Real Luck Group is the parent company of Luckbox, which supplies licensed esports betting, sports betting and casino games for desktop and mobile devices. Luckbox is listed on the Toronto Venture Exchange.

It launched its online casino in December of last year.

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