Real Luck Group Ltd and its subsidiary companies doing business as “Luckbox”, an award-winning provider of licensed, real money esports and sports betting, announces the availability of casino games on the Luckbox wagering platform. The Luckbox casino, which is live on the platform today, complements the existing offering of esports and sports betting.
The Global Online Casino Market is estimated to be US$134.9 billion in 2021 and could reach US$159.8 billion by 2026, growing at a CAGR of 3.45%, according to ResearchandMarkets.com. Through today’s online casino launch, Luckbox is now positioned to benefit from this growth market.
Luckbox CEO Thomas Rosander said: “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 – something we’ve communicated repeatedly since I became CEO.”
“We will continue to iteratively enhance our proprietary products as we strive towards providing a superior betting experience for the next generation of players.”
“The addition of casino brings Real Luck Group an expected near-term revenue stream in a vertical where I have had prior successes throughout my career, including my tenure as CEO of Dunder, which achieved annual revenues of €80 million in less than three years.”
“With almost $16 million of cash and no debt, as of September 30th 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.”
“I want to thank our team for achieving this major milestone, within the timeline we have committed to our stakeholders.”
“With this major effort now complete, we are in a position to turn our focus to our growth strategy. We plan to scale our player acquisition efforts across all our verticals of esports betting, sports betting, and online casino early in the new year and we look forward to sharing KPIs relevant with investors soon.”
Grant of stock options
The Company announces that it has granted an aggregate of 4,650,000 stock options under the Company’s stock option plan to the directors, employees officers and consultants of the Company at a price of C$0.205 per stock option, representing the closing price of the Company’s shares on Friday, December 17, 2021, exercisable for a period of 3 years from the date of grant; vesting 10% immediately, 10% six months from the date of grant and 20% every six months after that.
The Company also intends to continue with investor relations arrangements with Sophic Capital Inc. (“Sophic”). Sophic receives a fee of $8,000 per month for ongoing investor relations services. In addition, Sophic was granted 200,000 options to acquire Luckbox Shares at a price of C$0.205, which vest over 12 months, of which 50,000 options vest every 3 months.