Casino games expected to add near-term revenue
CALGARY, AB and ISLE OF MAN,
Dec. 20, 2021 /CNW/ - Real Luck
Group Ltd. (TSXV: LUCK) (OTCQB: LUKEF) (the "Company") and its
subsidiary companies doing business as "Luckbox" (the "Group"), 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.
About Luckbox
The Company is an award-winning betting company that offers
legal, real-money betting, live streams, and statistics on all
major esports and sports as well as casino games on desktop and
mobile devices. The Company has a Business-to-Consumer (B2C)
platform, and by leveraging shared technology, data, and resources,
the Company can offer an extensive range of betting options for
esports tournaments. The Company's in-house customized user
interface and user experience, built on a technology stack that
supports multiple odds and streaming sources, allows the Company to
deliver deep esports betting coverage. The Company has been built
by a team combining experience in the igaming industry and a
passion for esports to offer players a unique, broad, engaging, and
legal CS:GO betting, Dota 2 and League of Legends betting
experience. The Company serves esports fans in more than 80
territories across the globe. In November
2020, Luckbox was named Rising Star at the EGR Operator
Awards. The Company (via the Group) holds a full licence under the
Online Gambling Regulation Act (OGRA), issued by the Isle of Man
Gaming Supervision Commission. As the Group is fully licensed in
the Isle of Man for B2C and B2B esports & sports betting and
casino, the Company has access to favourable payment processors.
Luckbox is committed to supporting responsible gambling.
Follow Luckbox on Twitter / Facebook / LinkedIn
CAUTION WITH RESPECT TO FORWARD-LOOKING STATEMENTS
The TSX Venture Exchange has neither approved nor
disapproved the contents of this press release. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
This news release may contain certain "forward-looking
statements" and "forward-looking information" within the
meaning of applicable Canadian securities laws. When used in this
news release, the words "anticipate", "believe", "estimate",
"expect", "target, "plan", "forecast", "may", "schedule" and
other similar words or expressions identify forward-looking
statements or information. Such statements represent the
Company's current views with respect to future events and
are necessarily based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are
inherently subject to significant business, economic,
competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could
cause results, performance or achievements to be materially
different from the results, performance or achievements that are
or may be expressed or implied by such forward-looking statements.
The Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as
required by applicable laws, rules and regulations.
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SOURCE Real Luck Group Ltd.