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Real Luck Group files Q1 2023 results1 June 2023(PRESS RELEASE) -- Real Luck Group Ltd. and its subsidiary companies doing business as “Luckbox”, an award-winning provider of licensed, real money esports betting, sports betting and casino games, has filed financial results for the three months ended 31 March 2023 on SEDAR. Management Commentary Real Luck Group CEO Thomas Rosander said: “For the past six months, we have generated record breaking monthly operating metrics after re-launching our business from a standing start in 2022. Q1 saw us generate a record quarterly Global Gaming Handle of around $9.5 million, with solid increases every month - $1.8 million in January, $2.6 million in February and $5.1 million in March. Whilst we incurred sizable upfront fixed costs to get our growth engine moving, the trend has continued in Q2, owing to our emphasis on enhanced player retention and reactivation. Global Gaming Handle in April was consistent with March, despite a 40% lower marketing spend. So far in May, our player stakes are up 20% compared to Q1 and player value in May is up substantially at 96% compared to Q1. We also continue to make headway with our proprietary B2B product, which is being received well by large potential B2C customers.” Q1 2023 Operational Highlights - Ended Q1 2023 with player registrations of 387,000 up from 137,000 at the end of 2022. - Generated Global Betting Handle of approximately $9.5 million during Q1, up from $3.2 million for the full year of 2022. - Total Q1 2023 revenue was $624,503 vs $18,613 in Q1 2022 and $159,992 in all of 2022. Subsequent events to Q1 2023 - At the end of April 2023, the Company's registered player base stood at 420,000. - In April 2023, the Company generated record Player Deposits despite April being a short month and a 40% reduction in Marketing costs. - In April, the Company announced that this marketing optimization drove a surge in high value players, and boosted the average stake per player by 80% vs. Q1 2023. This marketing optimization was a major step towards profitability.
Real Luck Group files Q1 2023 results
is republished from Online.CasinoCity.com.
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