Esports Betting Stock Revamps Business | Real Luck Group (LUCK, LUKEF)
Esports and esports betting is one of the fastest-growing markets, especially for the younger generations. In all regards, the industry is still in its infancy stage, but with digital trends and growing viewership, the industry is expected to offer a strong market share in the future. Real Luck Group (CVE:LUCK, OTCMKTS:LUKEF) (maybe better known as LuckBox – its online betting platform) is revamping its business to become the number one ebetting platform in the world.
LUCK is a pure-play esports betting platform that had the perfect start to public markets. The company raised significant capital and attracted a large following and user base. However, in the last year, its share price tells a different story of major consolidation. The share price boomed to a high of $1.50 but is now trading below $0.30 per share. This low valuation offers a more attractive entry price to potential shareholders, considering LUCK has over $20 million in cash to grow its business, launch new products, market for new users, and look for acquisition targets.
LUCK has made some changes to revamp the business and hopefully put a holt to the share price consolidation. First, Thomas Rosander has been promoted from Chief Customer Officer to CEO. The new boss plans to recalibrate the platform, initiate marketing and new user acquisitions, and launch an online casino very soon.
“We have been recalibrating our platform to have the best platform out there. Of course, that’s going to be a continuous job, but what we have now accomplished in a little over a quarter, on the product side and on the marketing side. We are going to get the fruits of that very, very soon. We are in Q4, and I’ve promised before we are going to deliver this in Q4, and now it’s coming.” – Real Luck Group CEO Thomas Rosander
The new casino, which will be geared towards esports and will breed video gaming, will be launched to provide the LUCK with revenues in the short term.
Watch the full CEO interview to see how Real Luck Group plans to revamp its business, how the company differentiates itself from other esports betting companies, and the near-term catalysts shareholders can look out for.
00:00 – Real Luck Group Ltd (CVE:LUCK, OTCMKTS:LUKEF) CEO Thomas Rosander
00:49 – Share price consolidation
03:41 – Catalysts
06:09 – Marketing spend
07:46 – Player base & revenue growth
09:02 – Company differentiators
13:02 – Company financial report card