Real Luck Group, the owner of Luckbox, has signed a letter of intent to acquire an unnamed iGaming platform targeting the Asia-Pacific region. Through this acquisition, Real Luck Group aims to strengthen its portfolio by gaining access to over 6,000 games from 50 game providers.
The addition of a business-to-business (B2B) element to its proprietary platform is a significant step forward for the company, aligning with its strategic growth plan. This article provides an overview of the acquisition, the potential benefits it offers, and Real Luck Group’s recent financial results.
Acquisition of an Asia-Pacific iGaming Platform:
Real Luck Group has entered into a letter of intent to acquire a 100% stake in an Asia-facing iGaming platform. The deal will provide Real Luck Group with an extensive library of more than 6,000 games from 50 game providers. By expanding its portfolio, the company aims to enhance its B2B offerings and accelerate its growth trajectory. This acquisition also opens up opportunities in the Asia-Pacific region, which is recognized as one of the largest esports markets globally.
Real Luck Group’s Strategic Growth Plan:
The acquisition of the Asia-Pacific iGaming platform aligns with Real Luck Group’s strategic growth plan. The company had long sought to incorporate a B2B component into its proprietary platform, and this deal allows them to achieve that objective nearly a year ahead of schedule. By diversifying its offerings and entering new markets, Real Luck Group aims to maximize its business potential and establish a stronger presence in the global gaming industry.
Expected Benefits and Future Prospects:
The acquisition of the Asia-Pacific iGaming platform is anticipated to be finalized by the end of the year. Real Luck Group’s CEO, Thomas Rosander, believes that this transaction will provide immediate access to a substantial player base and bolster the company’s upside potential. With a shared vision between the two companies, this all-stock deal is expected to accelerate Real Luck Group’s growth and expansion into global markets, setting the stage for a promising future in 2023 and beyond.
Financial Results for Q3 2022:
Real Luck Group has also released its financial results for the third quarter of 2022. During this period, the operator reported revenue of $38,016, representing a more than fivefold increase compared to Q3 2021. After deducting costs of sales, the company achieved a gross profit of $22,397. Operating costs remained higher, amounting to $2.0 million. Considering non-operating income and expenses, including foreign currency adjustments, Real Luck Group recorded a loss of $1.9 million for the quarter.
Future Revenue Growth and Focus on Customer Acquisition:
Real Luck Group anticipates further revenue growth in Q4 as it shifts its focus from customer acquisition to driving additional player value, deposits, and wagers on its platform. CEO Thomas Rosander is optimistic about the company’s scalable plan, which has demonstrated strong performance during Q4. The record key performance indicators in the fourth quarter validate Real Luck Group’s expectations for substantial growth and position the company for continued success.
Real Luck Group’s strategic acquisition of an Asia-Pacific iGaming platform is a significant milestone in its expansion plans. The addition of a B2B element to its portfolio and access to thousands of games from various providers will contribute to the company’s growth and market presence. With a clear focus on revenue growth and customer acquisition, Real Luck Group aims to capitalize on its scalable plan and establish a stronger foothold in the global gaming industry.