The group, which offers real-money wagering on esports and sports, ended the period with $17.2m in cash, and no debt. Highlights for the quarter included the promotion of Thomas Rosander from Chief Customer Officer to CEO, while VALORANT wagering was added to the Luckbox platform.
The company also completed partnerships to “improve numerous platform functional areas, including player payment options, player registration and business intelligence.”
CEO Thomas Rosander commented: “The second quarter was a busy and transitional period for Luckbox, during which I took over as CEO on May 10. My priority has been to identify areas for improvement on the Luckbox platform, and I am pleased to say the team has made several technical improvements and formed new partnerships that we believe move us closer to generating long-term revenue growth in the booming esports betting sector, starting before the end of the year.
“This platform retooling was an intense and necessary phase to enhance our proprietary platform before increasing our marketing spend to acquire new players in order to improve the yield on our player marketing spend. Our balance sheet remains strong, with $17.2 million of cash and no debt, allowing us to continue executing our strategy to become the number one esports betting property.”