Published
FinancialSports BettingIndustryeSports

Real Luck Group’s losses mount during Q3 2021 despite “strong cash position”

Real Luck Group ended Q3 2021 with CA$15.8m (US$12.4m) in cash and no debt, but its losses continued to mount.

RealLuckLoss

For the third quarter, the Canadian company, and its subsidiaries that do business under the Luckbox brand, reported a net loss of CA$1.9m, a 146% rise from the CA$772,023 for the same period last year.

This brings its net loss for the first nine months of 2021 to CA$6.6m, more than double the CA$3m loss for the first three quarters of 2020. The company’s revenue is also down, reporting CA$7.2m for Q3 2021 when compared to CA$34m for the equivalent, prior-year period.

However, these losses can be partially attributed to Real Luck Group’s preparations for its casino launch, which is expected to go live in Q4 of this year.

During the quarter, Real Luck also completed several key platform integrations. These included Solitics for customer engagement and business analytics, Aspire Global for casino games and sportsbook — including esports — and Funanga for secure cash deposits.

“The team has been focused on enhancing our proprietary platform by building a superior business intelligence infrastructure, offering a unique and modern user experience tailored to the next generation of bettors, while ensuring maximum coverage of esports betting opportunities,” remarked Real Luck’s CEO Thomas Rosander.

“I am delighted to say our efforts during Q3 have paved the way for the addition of casino, which is an important anticipated near-term revenue driver that we expect to be live in Q4. As a result, we will be in a position to launch our player acquisition efforts in Q1 2022, by starting meaningful marketing for the first time in the company’s history.”

Real Luck Group is headquartered in Calgary and provides legal, real-money esports and sports betting.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...