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Real Luck Group shares Q3 update; announces intention to acquire an APAC-focused iGaming platform – Yogonet International
Luckbox operator Real Luck Group has reported its financial results for Q3 2022. Thomas Rosander, CEO of Real Luck Group, said the period was “about ramping up our player acquisition initiatives.”
“Our record Q4 key performance indicators are a testament that our scalable plan is delivering above our expectations. We are already seeing significant improvements for growth in Q4 2022, as we now focus on driving additional player value, deposits and wagers on our platform,” he added.
The company’s financial results were accompanied by the announcement of a Letter of Intent (LOI) to acquire “a leading Asia-Pacific-focused iGaming platform,” with a wholly owned proprietary tech stack.
The CEO pointed out that adding B2B to the company’s proprietary platform “has always been a significant part of the Luckbox strategy, and this important acquisition means we will complete this objective almost a year in advance of our projections.”
“It also extends our opportunities into APAC, a significant region that we currently do not have a presence in, and perhaps the largest esports market globally. This transaction ultimately builds our business’ upside by providing immediate access to a large player base,” he stated.
The transaction will see Luckbox purchase the vendors’ proprietary platform and technology, with access to over 6,000 games from 50 game providers and 100 localized payment methods. The platform will now become an integral part of the Luckbox group and enhance the core of the company’s offering.
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The acquisition should also enable more efficient growth through combined operational synergies. Luckbox will acquire 100% of the issued and outstanding shares of the company on a debt-free basis in exchange for up to 7 million common shares of Real Luck Group. The transaction is expected to close in December 2022.
“This all-stock transaction further validates our strategic growth plan, with both companies sharing a common Luckbox vision. The newly announced acquisition, which is expected to close by the end of the year, will further accelerate our growth and footprint in global markets as we head into 2023 and beyond,” Rosander concluded.
As for Q3 highlights, the period saw player registration of approximately 19,000 for Luckbox. The company has since registered a record number of players on the platform during the early part of Q4.
Additionally, the period ended by finalizing global platform support and localization, ensuring Luckbox can serve a significant portion of the global iGaming population enhanced with over 100 payment methods, setting the business up in Q4 and into 2023 for global growth.
Real Luck Group also ended the quarter with partnerships and agreements with more than 300 international player acquisition channels, versus 50 at the end of Q2, 2022. “These partnerships and agreements will deliver an increase in player traffic to Luckbox’s next-generation iGaming platform,” the company said.
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