Luckbox Terminates its Oversubscribed Financing at £2.88 Million

TSX Venture Exchange
Reading Time: 3 Min
Image: Shutterstock
One of the prominent betting platforms, Luckbox has recently declared about the closure of its oversubscribed financing round at £2.88 million ($5 million CAD).

It was revealed as a part of Luckbox’s listing on TSX Venture Exchange when a reserved ticker, Luck predicted about its financing.

A Deal with Elephant Hill

The oversubscribed financing was curated together with a capital pool company known as Elephant Hill which signed a deal with Luckbox in May. As per the deal, the company would observe the bookmaker’s issued along with the best common shares that are accessed by the capital pool firm.

The receipts of subscriptions that were sold at the time of the financing period will be traded for securities in Elephant Hill as per the closure of the proposed go-public business assignment.

Luckbox has received investment from Luis Robles who is an American football player. He is the goalkeeper at Inter Miami, Major league soccer. Inter Miami is co-owned by David Beckham. In a press release, he stated that he likes to do investing and he is looking to diversify its portfolio and Luckbox is a great chance to achieve that.

TSXV Listing Approval

Quentin Martin is the CEO of Luckbox. In a company stakeholders’ discussion, he stated that the board of directors, as well as the management team, have been working hard to schedule for public listing. They were involved in a positive discussion with TSXV and successfully completed the plan that is needed for filling.

Moreover, all the draft finances are completed on time and the final sign-off for audit is most likely to be happening by the end of July. They expect to receive the approval of TSXV listing by October 2020.

The management team of the company expects that esports betting will continue to expand and Luckbox is among one of the bookmakers which will be leading the way worldwide.

As per the part of final funding, Luckbox has declared that it will be hiring people for five significant positions within the company. It will assign a senior marketing associate who would be responsible to maintain 2020’s momentum.

The plans drafted by bookmakers include scaling of worldwide marketing campaigns, the investment of additional gaming licenses to operate in lucrative markets, and recruiting an odd provider to provide B2B solutions.

Quentin further added that Luckbox is delighted to complete a $5.0M financing by associating its go-public transaction with Elephant Hill. In addition, it has successfully completed Q1 and Q2 road targets which covered extra languages, esports titles, and user acquisition partners.

The company has made huge progress during this year and now looks forward to get position in the list of second dedicated esports betting firms in terms of public exchange.

Luckbox currently revealed a 500 percent increase in betting volume from March. Not just that, it also revealed “a 10-fold increase” in the number of deposits as compared to last year. It already seems like Luckbox will have a bright future as the bookmakers acquired a recorded breaking volume in terms of betting at the time of the pandemic. Moreover, its future plans are a sign of indication about its continued prosperity.

About Luckbox

Luckbox is a licensed betting platform for digital currencies, esports, and gambling. Introduced in 2016 and based in the Isle of Man, it accepts bets from customers from across 100 countries. Its platform is dedicated to providing the worldwide esports community, where the audience can get the opportunity to watch and bet in a secure environment through cash, cryptocurrencies, or game-items.

It provides innovative esports betting on League of Legends, CS: GO, StarCraft II, and a lot more.

Relevant news