Esports bookmaker Luckbox has unveiled intentions to list itself publicly on the TSX Venture Exchange.
It states an uptick in performance due to COVID-19 as an accelerating factor in the decision.
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Luckbox has signed a letter of intent with Elephant Hill that would see all of the bookmaker’s issued and outstanding common shares be acquired by the capital pool company.
Quentin Martin, CEO of Luckbox, spoke on the decision in a release: “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.”
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Prior to the proposed public listening on the TSX Venture Exchange, Luckbox is speaking with investors for a short funding round that’s being led by Gravitas Securities and Beacon Securities.
Martin continued: “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.”
Esports Insider says: Luckbox is one of the bookmakers at the forefront of esports at the moment, holding a full gambling licence and accepting bets from customers in over 100 territories. If the public listing goes ahead, all eyes will be on Luckbox when it comes to esports betting.