Real Luck Group Reports Jump in 1Q Revenue on Expanding Player Registrations and Betting Handle

May 30, 2023 | Reveue

Proactive Investors Australia (May 29, 2023) — Real Luck Group Ltd, along with its subsidiaries operating under the name Luckbox, has reported first-quarter 2023 revenue that is almost four times higher than its total 2022 revenue as it grew player registrations, resulting in a sharp increase in Global Betting Handle.

Proactive Investors Australia reported the provider of licensed esports betting, sports betting and casino games increased revenue to $624,503 for the three months to March 31, 2023, up from $18,613 in 1Q and $159,992 in all of 2022.

It ended March with player registrations of 387,000, up from 137,000 at the end of 2022, and generated a Global Betting Handle of approximately $9.5 million during 1Q, compared to $3.2 million for the full year of 2022.

“For the past six months, we have generated record-breaking monthly operating metrics after re-launching our business from a standing start in 2022,” CEO Thomas Rosander said in a statement.

“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.”

The company said Global Gaming Handle in April was consistent with March, despite a 40% lower marketing spend. At the end of April, its registered player base stood at 420,000 and it generated record Player Deposits despite the shorter month.

Marketing optimization drove a surge in high-value players and boosted the average stake per player by 80% versus 1Q 202, the company said, adding that it is a major step towards profitability.

So far in May, it said player stakes are up 20% compared to 1Q and player value is up 96%.

“We also continue to make headway with our proprietary B2B product, which is being received well by large potential B2C customers,” Rosander added.


SOURCE: Proactive Investors Australia.

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