Luckbox sets sights on profitability by H2 2023
Esports-focused firm’s CEO Thomas Rosander champions strong Q4 growth with expansion plans on the horizon
Luckbox CEO Thomas Rosander has said the operator is on course to achieve profitability by the end of H1 2023.
Delivering his outlook for 2023, the CEO championed the esports-focused operator’s proprietary tech stack and its expansion into online casino and traditional sports betting as key drivers of the business.
Rosander revealed Q4 2022 saw the group record more than C$3m in global betting handle, while monthly revenue had grown 120% and total player deposits were up 420% since August.
Touching on Q4, Rosander said: “Not only is this encouraging, and a promising glimpse of our future growth potential, we also did all this despite turbulent market conditions and headwinds – further proof that this industry, and our approach, are capable of growth regardless of macroeconomic volatility, recession fears, global crises and other negative headlines.”
Looking to the year ahead, the chief noted a combination of the growing betting handle along with its new player acquisition drive would put the firm in good stead.
Rosander continued: “From a financial perspective, we’re already generating around 25% of the global betting handle that we need to in order to be breakeven; that, in relation to the fact that we have only activated 20% of our player acquisition channels, gives us a high degree of confidence that we are on the right trajectory to attain profitability by the end of Q2 2023.”
The former Mr Green chief product officer also pointed to a concerted tech drive from Luckbox throughout 2023, with a dual approach of continuing to develop its in-house tech and a potential branching out into B2B operation.
Rosander said: “This year we’ll also be focusing on the development of our proprietary betting technology that will help position us as a true market leader, but also open up new global opportunities.
“I hope to be able to share more news soon, but this development will enable us to create a new B2B vertical within Real Luck Group and embed our revolutionary new products into the largest gaming and betting operators around the world.
“I am confident that 2023 will see us take more steps towards becoming a truly successful global and recognised brand,” he added.