Luckbox looks for further external investment throughout 2022
Esports operator hopes a turnaround in its faltering share price and new online casino offering will attract investors
Esports-first operator Luckbox has confirmed it will focus on “direct investor outreach” throughout 2022 as it looks to continue its growth.
Writing in a blog post, Thomas Rosander, CEO of Calgary-based parent company Real Luck Group, detailed the company’s 2022 outlook while looking back at the work completed in 2021.
Rosander praised the launch of Luckbox’s online casino platform as a key node in developing the operator’s player acquisition efforts and the group’s financial strategy throughout last year.
Rosander said: “The target is now to increase our player base and revenues. We benefited from very robust market sector tailwinds earlier in 2021 and raised $17.8m in a private placement in March, the vast majority of which we have conserved, with the intent of deploying towards player marketing/revenue growth.
“This conservative financial strategy brings us into 2022 in a strong position to execute on our organic player and revenue growth goals,” he added.
Rosander also touched on the group’s share price, which he said faced “increased downward pressure” in H2 2021 as the company recalibrated its platform, including the launch of its online casino.
After briefly hitting a high of C$1.62 on Canada’s TSX Venture Exchange in February 2021, Real Luck Group’s share price has shed 86% since to end up at C$0.22 today.
Rosander said: “Our stock is [now] trading at close to our cash value – meaning there is not much value ascribed to the business we’re building by the market.
“We believe this represents an opportunity for investors as we move into a growth phase in our business and we look forward to communicating our progress throughout 2022,” he added.
Finally, Rosander confirmed Luckbox would continue to court the interest of investors throughout 2022.
He said: “As the new year begins and as we step up our player acquisition efforts, we will also be applying our focus to direct investor outreach.
“Through January, I will continue to be involved in a series of investor meetings organised by Capital Events at the start of what promises to be another busy year.
“I’d like to again take this opportunity to thank you for your continued support and I look forward to sharing more good news with you soon,” he concluded.