Canada
Real Luck Group Ltd. Reports 2022 Q1 Financial Results
Real Luck Group Ltd. and its subsidiary companies doing business as “Luckbox“, an award-winning provider of licensed esports betting, sports betting and casino games, has filed financial results for the three months ending March 31, 2022 (“Q1 2022“) on SEDAR. Unless otherwise stated, all dollar amounts are expressed in Canadian dollars.
Real Luck Group CEO Thomas Rosander said: “The first quarter of 2022 saw the Company continue to make vast improvements to our platform, as we strive to become the world’s number one esports betting destination. We have now introduced more than 400 games and products, including the newly launched online Luckbox casino, a vertical designed to bring engaging content to our players and near-term revenue to the business.
“We have also strengthened our leadership team, with the appointments of both Benn Timbury as Chief Operating Officer and Bo Wanghammer to the Board of Directors.
“Additionally, we embarked on the initial stages of our player acquisition campaigns, adding new partnerships with some of the biggest global player acquisition and referral networks. We continue to monitor and optimize our acquisition metrics, with the aim of maximizing ROI on marketing spend, despite player acquisition costs trending upward in recent months.
“We have $12.5 million of cash and no debt and we are managing our cash prudently, giving us the necessary resources to execute our growth strategy. We are continually reviewing our cost base to optimize efficiencies and have identified $0.5 million of annualized savings, which we will reinvest into the business, including our player acquisition budget this year.
“We have been focused on new opportunities to grow our user base, in a pragmatic and cost-effective manner, while focusing on our core esports market.
“Gaming revenues from esports betting in global markets, is forecast to grow at an unprecedented average of 17.6% year on year to 2026[1] in regulated markets alone – a faster rate than sports betting.
“We plan to grow our user base by entering new markets with additional local gaming licenses, while also rolling out our proprietary B2B offering, and an accretive M&A strategy, which we look forward to sharing with investors soon.”
- Ended Q1 with 421 games from six providers on the newly launched Luckbox online casino, an increase of 815% in games offered since the end of Q4 2021.
- Ended Q1 with partnerships and agreements with more than 50 global new player referral affiliate sites. These partnerships and agreements are designed to increase player traffic to Luckbox’s next-generation esports, sports and casino real-money betting products.
- March 1: Appointed Benn Timbury as COO. Mr Timbury’s most recent role was with one of Europe’s fastest growing igaming start-ups, the Gibraltar-based Lottoland Group, which is active in 15 global markets, has over 350 employees, and more than 15 million customers.
- March 9: Appointed Bo Wänghammar to its board of directors. Mr Wänghammar was formerly Managing Director of Casino at PokerStars (acquired by Flutter Entertainment for US$6 billion in October 2019), and the CEO at Mr Green & Co online casino (acquired by William Hill for £242 million In October 2018).
- March 24: Announced a partnership with leading affiliate and performance marketing company Raketech Group Holding (STO: RAKE). The agreement builds upon prior agreements that Real Luck Group has signed with several key affiliate marketing networks to increase player traffic. Raketech, headquartered in Malta, operates more than 1,760 sites, driving active players to igaming brands.
- April 13: Announced a new partnership with online casino supplier Microgaming to add more than 100 games to Luckbox’s casino including branded titles such as Jurassic World and Lara Croft®. With the Microcaming content, Luckbox’s casino now offers more than 450 games for users to wager upon.
- May 6: Nominated in the Brand of the Year and Innovation in Esports categories at the EGR Marketing & Innovation Awards 2022.
[1] H2 Gaming Capital Esports Report, September 2021
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Acquisitions/Merger
Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey
Great Canadian Entertainment and the SE-MI-AH-MU Development Corporation, the economic development arm of Semiahmoo First Nation (SE-MI-AH-MU) announced that they have entered into a definitive agreement for the purchase by SE-MI-AH-MU from Great Canadian of Elements Casino Surrey.
Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to financial commitments, customary closing conditions as well as customary approvals by the regulatory authorities and the City of Surrey, which owns the underlying real property at Elements Casino Surrey. Under the terms of the definitive agreement, the Company will provide transition services to SE-MI-AH-MU for up to one year post-closing.
“Today’s announcement marks the eighth agreement we have executed with B.C.-based First Nations for the sale of our B.C. operations. We are thrilled that the Semiahmoo First Nation is eager to enter the province’s casino sector with the purchase of Elements Casino Surrey. Our next step will be to continue to work with the SE-MI-AH-MU team to timely close this transaction and then work with SE-MI-AH-MU and the Elements Casino Surrey team members for long term success,” said Matt Anfinson, Chief Executive Officer of Great Canadian.
“This acquisition represents an important step forward in strengthening economic opportunity for Semiahmoo First Nation and reaffirming our presence within our traditional territory as a strong and capable business entity. Through this new venture, we look forward to creating meaningful benefits for our people, supporting employment opportunities in the region, and contributing to the long-term well-being and prosperity of our community,” said Chief Harley Chappell of Semiahmoo First Nation.
McMillan is serving as legal counsel to Great Canadian and Munnings Law is serving as legal counsel to SE-MI-AH-MU.
The post Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey appeared first on Americas iGaming & Sports Betting News.
Canada
Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market
Wazdan, the top developer focused on gaming, has initiated its collaboration with Green Brick Labs (GBL) following the launch of several of its titles with Maverick Games, the well-known operator based in Ontario.
The agreement entails an initial selection of Wazdan’s best-performing titles being launched with Maverick Games through an integration from GBL’s seamless aggregation platform, featuring Mighty Fish
: Blue Marlin, 36 Coins
, Mighty Wild
: Panther Grand Diamond Edition, and Mighty Wild
: Gorilla.
After Wazdan’s recently disclosed alliance with GBL, the quickly developing North American platform provider, the partnership has now made significant progress by launching with Maverick Games, featuring its extensive slot collection and sportsbook services.
Wazdan’s captivating games and interaction-enhancing features, such as Cash to Infinity
, Sticky to Infinity
, and the Hold the Jackpot
bonus game, are poised to enhance Maverick Games’ collection as it aims for greater growth across North America.
Wazdan’s newest collaboration highlights the studio’s goal to further establish itself in regulated iGaming markets globally, offering players cutting-edge slot experiences.
Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.
“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”
James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.
“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”
The post Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Canada
Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach
Wazdan, the leading-gain focused developer, has launched its partnership with Green Brick Labs (GBL) after taking a series of its titles live with Maverick Games, the established Ontario-based operator.
The deal will see an initial pool of Wazdan’s top-performing releases launch with Maverick Games via an integration from GBL’s seamless aggregation platform, including Mighty Fish
: Blue Marlin, 36 Coins
, Mighty Wild
: Panther Grand Diamond Edition and Mighty Wild
: Gorilla.
Following Wazdan’s recently announced partnership with GBL, the rapidly emerging North American platform provider, the collaboration has now taken its first major steps after going live with Maverick Games with its comprehensive slot portfolio and sportsbook offering.
Wazdan’s immersive titles and engagement-boosting mechanics, featuring the likes of Cash to Infinity
, Sticky to Infinity
and the Hold the Jackpot
bonus game, are set to further elevate Maverick Games’ portfolio as it seeks increased expansion throughout North America.
Wazdan’s latest partnership underlines the studio’s ambitions of continuing to gain ground in regulated iGaming territories worldwide, providing players with state-of-the-art slot experiences.
Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.
“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”
James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.
“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”
The post Wazdan launches Green Brick Labs partnership via Maverick Games to expand Ontario reach appeared first on Americas iGaming & Sports Betting News.
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