Luckbox owner to acquire Asian B2B platform

Real Luck Group, the parent company of Luckbox, has announced an important step in its expansion strategy by signing a letter of intent to acquire a yet-to-be-disclosed iGaming platform focused on the Asia-Pacific (APAC) region.

Through this acquisition, Real Luck Group is set to procure 100% of the shares in the Asia-facing business, granting immediate access to a diverse portfolio of over 6,000 games from 50 different game providers. This move positions Real Luck Group to significantly enhance its product offerings and market reach.

Thomas Rosander, CEO of Real Luck Group, emphasized that the company has long sought to incorporate a business-to-business (B2B) element into its strategy, and this acquisition allows it to do so ahead of schedule. “Integrating B2B capabilities into our proprietary platform has always been a cornerstone of the Luckbox strategy,” Rosander stated. “This acquisition enables us to fulfill this objective nearly a year earlier than anticipated and opens doors to the APAC market, a key region where we currently lack a presence, particularly given its status as one of the largest esports markets globally.”

Rosander elaborated, saying, “This transaction not only enhances our business potential by providing immediate access to a substantial player base, but it also reinforces our strategic growth plan, aligning with the shared vision of both companies involved. The acquisition, set to close by the end of the year, will accelerate our growth trajectory and extend our global footprint as we advance into 2023 and beyond.”

The acquisition is projected to conclude in December 2022, marking a pivotal milestone for Real Luck Group as it positions itself for a robust expansion in a highly competitive market.

Real Luck Group Q3 Financial Performance

In addition to the acquisition news, Real Luck Group also released its financial results for the third quarter of 2022. The company, which is still in the early phases of its player acquisition strategy, reported revenue of $38,016 for Q3, which represents an impressive increase of more than five times compared to the same period in 2021.

After incurring costs of sales amounting to $15,619, the company achieved a gross profit of $22,397. However, operating costs were significantly higher, totaling $2.0 million, leading to a loss of $1.9 million for the quarter after accounting for non-operating income and expenses, including a $46,659 adjustment related to foreign currency exchange.

CEO Rosander remains optimistic about the future, projecting revenue growth in Q4 as the company shifts its focus toward customer acquisition initiatives. “Q3 was primarily about ramping up our player acquisition strategies,” he explained. “The record key performance indicators for Q4 underscore that our scalable plan is yielding results beyond our initial expectations. We are already witnessing substantial improvements in growth metrics as we aim to enhance player value, increase deposits, and boost wagers on our platform.”

This strategic acquisition and the reported financial performance signal an exciting phase for Real Luck Group as it aims to establish a more formidable presence in the global iGaming landscape.