Thomas Rosander, the chief executive of Real luck Group said that after reporting an $8.6m net loss in 2021, they were now entering a player acquisition phase.
The revenue for this year was minimal at only $25,174. This is a decrease of 66.6% compared to 2020. This total was all from Isle of Man.
The cost of sales increased slightly to $290 286 despite the decrease in revenue. The main reason for this was a rise of 24.1% in the platform and service providers fees, which reached $277.994, while free bets fell by 80.8%, to $12 292.
The business suffered a loss gross of $265 112, which is up by 24.8% on an annual basis.
The operating expenses increased by 62.1%, to $8.4m. Included in this were $1.9m of share-based compensation (up 113.0%), $1.7m of salaries and director’s fees (up 12.2%), and $1.4m consulting fees (up 111.2%). It also spent $1.3m on legal and professional costs and $943 234 for advertising and marketing.
The business lost $8.6m before taxes, an increase of 57.0%. Taxes were only $6061, so the final loss for this business was $8.6m, up 57.0%.
Thomas Rosander, the chief executive of Rosander Group said that although they had concentrated on developing their platform by 2021, they were not in a position to focus on customer acquisition.
Rosander stated that during fiscal year 2021 our team enhanced and extended both our platform and infrastructure to position us for our player acquisition effort in 2022. Our work enabled us to launch a new-generation betting platform powered by superior infrastructure for business intelligence to support our players acquisition efforts. We aim to optimise marketing spend and maximize player value.
Rosander said that as part of the expansion, the company had also added new verticals such as online casinos.
He said that as part of his plan to create a platform to bet on sports for the next generation of players by 2021, he had made hundreds of platform improvements, announced eight partnerships, and strengthened his team. To complement our core offering of esports, we have added sports betting, which allows fans to wager on hundreds daily markets for sports like football, basketball and soccer.
We ended the year by launching the online casino, which will bring a revenue stream that I am expecting in the near future, and is based on my previous successes, such as my time spent at Dunder, where I was CEO.
We are excited to launch our products in Ontario, and we expect to expand into other regulated markets by 2022.
