Luckbox reports revenue up 144% in August after entering new customer acquisition phase

Online gaming business Real Luck Group, the parent company of esports, sports, and casino gaming provider Luckbox, announced last week growth in Key Performance Indicators (KPIs) since entering its new customer acquisition phase in August this year. According to the group, Net Gaming Revenue grew 144% during the last month and total player deposits grew by 197%.

According to the Luckbox operator, these first data points mark “a successful” transition of the company to its next growth phase of customer acquisition, which was first communicated at Real Lucky Group’s annual general meeting on August 11. The early operational data and strong balance sheet support management guidance for profitability exiting H1 2023, the business noted.

“The initial growth since transitioning to customer acquisition gives us increased confidence that our offerings, strategy, and financial forecast are on point,” said Real Luck Group CEO Thomas Rosander. “Behind this success lies our platform’s capability to localize language variations, payment methods and marketing campaigns in a granular way.”

“We have also seen increased interest for high margin, micro-betting products,” added Rosander. “This is the core of our long-term strategy, and we have invested significant effort and resources to develop the new, proprietary products that will transform the market.” 

According to the company’s CEO, this differentiator product, combined with the group’s short-term organic growth and strong balance sheet, “hasn’t gone unnoticed by industry participants.” The firm is now set to share more details, insights and progress at industry events SBC Summit Barcelona and iGaming Next in Valletta, Malta, in the coming months.

Real Luck Group posted last month its financial results for the first half of the year. The company recorded a net loss of about CAD 4 million ($3 million) for the period, of which almost CAD 2 million ($1.5 million) was accumulated in Q2. Despite the losses, the firm remains free of debt and has a positive balance of CAD 10.6 million ($8.1 million), which Rosander said at the time could amount to “enough capital” to execute on the company’s growth strategy.

In terms of its product offering, the company concluded the period ended June 30 with over 700 games from six providers on the newly launched Luckbox online casino, an increase of over 66% in games content since the end of March 31, 2022. During the second quarter, the company finalized its platform in anticipation of the previously described new phase of growth – acquiring and monetizing players.