Calgary games provider Real Luck Group signs letter of intent to seek capital for growth, acquisitions

September 10, 2023 1:16 PM
  • Mark Keast, CDC Gaming Reports
September 10, 2023 1:16 PM

Real Luck Group Ltd. and its subsidiary companies doing business as Luckbox, a provider of licensed esports betting, sports betting, and casino games, has informed its stakeholders about the recent signing of a letter of intent to potentially fund its ongoing growth and operations.

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“We expect an initial capital injection into the company by the end of September, and subsequently expect to finalize a transaction,” said Thomas Rosander, CEO, Real Luck Group. “The signing of this LOI indicates industry interest in our company and its operations and assets. We are confident this would greatly benefit our shareholders and partners by securing capital in a very challenging fundraising environment.”

The company has a business-to-business platform offering a wide range of betting options for esports tournaments driven by an in-house customized user interface and experience built on a technology stack supporting multiple odds and streaming sources, offering players deep esports betting coverage.

The company serves esports fans in more than 80 territories across the world.

Real Luck Group Ltd., with offices in Calgary and licensed in the Isle of Man for B2C and B2B esports, sports betting, and casino, is traded on the TSX Venture Exchange under the symbol LUCK ($0.06).

The company also filed its Q2 financial results for the three months ended June 30, 2023. They ended Q2 with player registrations of 450,000, up from 137,000 at the end of 2022, and generated global betting handle of approximately $11.4 million during Q2, up from $3.2 million for the full year of 2022. Average wager per real- money player increased 180% over Q1 2023.

“We continue to make operational improvements and have made significant optimizations and reductions in our operational costs,” Rosander said. “Q2 2023 saw us generate a record quarterly global gaming handle of around $11.4 million, owing to our emphasis on enhanced player retention and reactivation, despite lower marketing spend. We also continue to make headway with our proprietary B2B product, which is being received well by large potential B2C customers.”