Kings Entertainment sees active customers rise by 9% for July

Kings Entertainment Group has published an operational update for July, highlighting a 9% revenue rise on a month-over-month basis.

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Kings Entertainment Group has published an operational update for July, highlighting a 9% revenue rise on a month-over-month basis.

The Vancouver-based company generated CA$555,349 (US$429,660) in revenue last month, a modest total though an increase from June’s CA$510,440.

Driving this growth was a bump in lottery sales, which climbed by 18%. Combined, the group’s WinTrillions and Lotto Kings brands pulled in CA$446,126 versus CA$378,329 for June. Meanwhile, Kings’ total active customers rose by 9%.

This growth came against the backdrop of a so-called “spike” in jackpots. Most notably, the US Mega Millions jackpot reached US$1.3bn before being claimed by a single ticket in Illinois.

Steve Budin, CEO of Kings Entertainment, said 2022 has thus far proved “challenging,” but given this recent uptick, remained optimistic.

He commented: “We’re very pleased that July brought such a strong return to action for lottery jackpots. It’s been a challenging year, without a significant lottery jackpot to promote – but we focused on keeping players active through the drought and are now seeing this effort pay off.”

This sentiment is largely consistent with comments Budin made in March, when he asserted Kings’ focus on “building, growing and retaining” its base of active players.

More broadly, 2022 has been a busy year for Kings. January saw the company list on the Canadian Securities Exchange, followed by preparations in February for an entry into the metaverse.

And then, a few months later, Kings announced a merger deal. The group inked a business combination agreement with Sports Venture Holdings, the parent company of Bet99.

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