Luckbox is scheduled to be listed on the TSX Venture Exchange (TSXV) in the tenth month of the year. They have ambitious plans for expansion, including employing more personnel and establishing a business-to-business division.<\/p>\n
The enterprise recently secured a significantly larger sum of money than initially anticipated, amassing C$5 million (\u00a32.9 million\/\u20ac3.2 million\/$3.7 million) instead of their initial target of C$2 million to C$3 million. They initially raised C$3.8 million and subsequently added another C$4.5 million by selling special rights known as warrants.<\/p>\n
These warrants will automatically transform into shares of Elephant Hill, a company that Luckbox’s parent organization, Esports Limited, will combine with to obtain a listing on the TSXV.<\/p>\n
“We have been diligently preparing for the listing,” stated CEO Quentin Martin. <\/p>\n
Weve been in constant contact with the TSXV and have finished the business strategy needed for the application. The financial outline is complete, and we anticipate securing the audit signature by the end of July.<\/p>\n
In the end, we expect to receive TSXV listing authorization in early October 2020.<\/p>\n
Future investors in the operator include Luis Robles, the goalie for Major League Soccer team Inter Miami CF, co-owned by former Manchester United legend David Beckham.<\/p>\n
After finishing the funding, Martin provided an update to investors highlighting some key operational accomplishments in the first half of 2020. Martin disclosed that wagering volume had increased fivefold since November 2019, with new games like FIFA and NBA2K added to the platform.<\/p>\n
Luckbox has also taken steps to broaden its global reach, adding language choices such as Chinese, Russian, Spanish, German, and Portuguese, and introducing new digital currency payment methods, including Bitcoin and Ethereum.<\/p>\n
The company intends to further evolve in the second half of 2020, adding conventional sports betting and casino games to its platform. Customer acquisition abilities and customer relationship management (CRM) will be improved, and promotions like free bets will be introduced.<\/p>\n
The operator also plans to acquire additional licenses in the next two years to enter new regulated markets. <\/p>\n
The firm stated that this action will enable Luckbox to broaden its customer base and initiate marketing campaigns aimed at high-value players.<\/p>\n
The company also intends to expand its workforce and is actively seeking candidates for five key positions, including a Head of Growth, who will oversee customer acquisition and rapidly expand its B2C business.<\/p>\n
This will be supported by the expansion of its B2B services, as the company is seeking to acquire an esports odds provider.<\/p>\n
Martin stated: “This means Luckbox will be able to offer exceptional esports betting B2B solutions, which we know are in demand by major traditional sports operators, and we aim to secure our first B2B partnership within the next year.”<\/p>\n
He added: “Overall, Luckbox is pleased to have concluded a C$5 million funding round during its listing transaction with Elephant Mountain, which was completed in challenging times, while successfully achieving its Q1 and Q2 roadmap targets, including adding more languages, user acquisition partners and more esports games.”<\/p>\n
“We made significant progress in 2020 and look forward to becoming the second esports betting company to be listed on a public exchange.”<\/p>\n
Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"
Luckbox is scheduled to be listed on the TSX Venture Exchange (TSXV) in the tenth month of the year. They have ambitious plans for expansion, including employing more personnel and…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n