Isle of Man-based esports betting operator Luckbox has announced its intention to publicly list on the TSX Venture Exchange.
According to the company, the surge in esports betting during the COVID-19 crisis was a factor in deciding to make the move now, and capital pool company Elephant Hill has already signed a letter of intent to acquire all of Luckbox’s outstanding common shares.
Prior to the listing on the TSX Venture Exchange, the company is running a short funding round led by Gravitas Securities and Beacon Securities.
Discussing the news CEO of Luckbox, Quentin Martin, said:
“All of our key performance indicators have been through the roof in the past three months. We’ve seen a huge uptick in KPIs across the board. Clearly, these are challenging times for many people across the world but, for many, esports and gaming is a welcome distraction.
“As well as an increase in customers and betting activity, we’ve seen a huge level of interest from potential investors, who are realizing that esports is resilient to many of the forces that affect traditional sports, not least COVD-19 and a potential recession.
“The potential of esports betting is well documented and these past few months have brought that into sharper focus, accelerating the numbers. Many fans of traditional sports have been exposed to the excitement of esports for the first time and, hopefully, they like what they see and will be sticking around.”
AYO.NEWS says:
It is now painfully obvious that the massive overreaction to the COVID-19 pandemic by many governments has unleashed an economic catastrophe of an unprecedented scale. This week the UK’s Chancellor, Rishi Sunak, warned the pain will be “the likes of which we have not seen”, while the IFS think-tank warned of a “mega-recession” and the “recession to end all recessions.”
Indeed, as the Daily Mail reported yesterday, if the OBR and Bank of England’s projections are correct, the UK’s economy will by hit harder than any time in the last 300 years – with a contraction worse than that caused by the Credit Crunch of 2008, World War 2, World War 1, or the Spanish Influenza pandemic of 2018.
Against this backdrop we can expect to see investors flee to the few remaining growth areas and perceived safe havens, including esports and cryptocurrencies. So, for dedicated esports betting operators like Luckbox, LOOT.BET and Unikrn things are looking up!
Interested in finding out more about why esports really is the future? Check out our exclusive chat with Rahul Sood, CEO & Founder of Unikrn.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020