Kings Entertainment says lottery business boomed in March
Kings Entertainment Group on Tuesday said its lottery business put up a “solid performance” during the month of March.
The company is an international online service provider for lottery, casino and sportsbook gambling, and it is the parent corporation of global online gaming brands LottoKings and WinTrillions.
Officials said highlights from operations in the recently concluded month included new registrations, growth in depositing customers and continued casino growth.
Unlike traditional sports and casino businesses, which fluctuate on a seasonal basis, Kings Entertainment noted the lottery sector is heavily reliant on jackpot size for revenue. Despite the dampening effect of historically low jackpots, the company said its number of active players increased by 15% to 5,200 in the month of March as compared to the previous month.
New depositors also continued to flock to Kings Entertainment’s flagship brands, LottoKings and WinTrillions, with that figure jumping by 72% month over month.
“We are very pleased that we were able to continue to increase our base of active customers so significantly in March,” Steve Budin, CEO of Kings Entertainment, said in a statement. “Building, growing and retaining this base of active players is the key to the health of any gambling operation.”
The fact Kings Entertainment has been able to continue to acquire and retain customers without the incentive of large jackpots is a “testament to the strength” of its brands, Budin asserted.
“We remain focused on organic growth and CRM strategies to build our base, and also plan to strategically deploy paid marketing programs when jackpot sizes warrant the investment in promotional campaigns,” he explained.
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