The company reported CAD$10.6m (US$8.2m) in cash, and no debt, with its Luckbox online casino expected to return positive monthly EBITDA by H2 2023.

Real Luck CEO Thomas Rosander said: "During the second quarter of 2022, the company finalised its platform in anticipation of the next phase of the company's growth – acquiring and monetising players.

"Initial results during this next growth phase are promising and with online casino forecasted to drive positive monthly EBITDA in second half 2023.

“This together with continued onboarding and monetising of players, new business initiatives, and a balance sheet that has about $10.6 million of cash and no debt, we believe that we have enough capital to execute on our growth strategy."

Real Luck ended the quarter with over 700 games from six providers on its Luckbox platform. This total represents a 66% rise in content when compared to the previous quarter.

The company secured partnerships and agreements with more than 50 global player acquisition channels over the quarter, in an effort to drive traffic on Luckbox’s esports, sports and casino real-money betting products.

Operational highlights included the completion of the leadership team with the appointment of Daniel Sanders as Director of Marketing, as well as the August transition from content development to player acquisition.

Additionally, the company confirmed that it completed the issuance of 119,048 Class A common shares to former CEO Quentin Martin, after approval from the TSX Venture Exchange.