Kings Entertainment Group launches on Canadian Stock Exchange and provides company update
Global Online Gaming Innovator Exceeds 2021 KPIs, Offers Outlook for 2022
VANCOUVER, January 24, 2022 /PRNewswire/ – Kings Entertainment Group Inc. (CSE: JKPT) (“Entertainment of Kings“or the”Society“), parent company of global online gaming innovators LottoKings and WinTrillions, will debut on the Canadian Securities Exchange (the “CSE”) today at the start of trading under the symbol “JKPT”. Kings Entertainment is also pleased to share an update on the company’s operations and an overview of its current and upcoming growth priorities.
LottoKings and WinTrillions are the flagship brands of Kings Entertainment. As international online service providers for lottery, casino and sports betting games, brands are leveraging their ability to acquire high-potential players through name-brand lottery offers and then converting players into players. casino and sports betting. LottoKings and WinTrillions have attracted and retained millions of player registrations to date.
“As we look to 2021, we have successfully built a strong foundation that will support significant expansion and position the company to achieve robust future growth,” said Steve Budin, CEO of Kings Entertainment. “We performed well on our KPIs, successfully diversified into casinos and improved our operations and product offerings. We will build on this success to accelerate our evolution through 2022.”
Kings Entertainment has focused on lottery alone and is now focused on revenue growth in the profitable online casino business, while continuing to grow its core online lottery business. The company has assembled a world-class casino offering utilizing a combination of red tiger and Oryx Gaming for its virtual games and Evolution Gaming for its live casino content. The combination of a world-class casino content platform and CRM-based offer programs cross-promoting casino content to targeted lottery users has produced extraordinary results.
Key performance indicators
Kings Entertainment brands exceeded a number of key performance indicators in 2021:
- Overall turnover increased by 10% compared to the previous year1, despite the suspension of all marketing activities
- Total casino revenue in 2021 was $1,110,000, a 43% increase over $773,578 in 2020, and the cost of casino revenue in 2021 was $158,000, compared to $69,309 in 20202
- Total unique active casino players increased 48% to 2,849 from 1,921
- Active lottery customers remained stable, with new customers balancing natural attrition
- New unique depositing customers increased by 9%, from 13,225 to 14,424
1 Audit pending
- New Marketing Director – the company has appointed a gaming industry expert Jacques Dominique, formerly of Lottoland, as Marketing Director. Mr. Dominique has been instrumental in shaping and implementing the Company’s new strategic direction
- CRM platform – the company upgraded its CRM platform to Emarsys, enabling improved capabilities and increased customer retention, while reducing platform costs by 50%
- Increase in lottery ticket prices – the company was able to increase the profitability of all sales opportunities by increasing lottery ticket prices by up to 20%. This strategy allowed Kings Entertainment to offer significantly better discounts while maintaining margins.
- Boosted Jackpots – Lottery players can now play their favorite lottery games, with a minimum jackpot of $100 million at no additional cost, including boosted PowerBall and Megamillions jackpots. This newly created feature validates the company’s role as an industry innovator and adds excitement for gamers.
Outlook for 2022
Kings Entertainment is poised for significant growth in 2022 as the company continues to execute its core lottery strategy and accelerates the expansion of its global casino business. With a solid capital structure now in place and the resources to invest in market intelligence and customer acquisition, Kings Entertainment is leveraging its strong lottery presence and strong international network to create innovative new products and attractive and enter new jurisdictions as a global leader.
The Company also announces that it has granted 924,000 incentive stock options to consultants. Stock options have an exercise price of $0.50 per share, are valid for a period of 5 years from the date of allocation and are subject to regulatory approval.
About Kings Entertainment Group
Established in 2005, Entertainment of Kings (CSE: JKPT) is the parent company of global lottery brands LottoKings and WinTrillions. As international online service providers for lottery, casino and sports betting games, these brands leverage their ability to acquire pre-qualified players through renowned lottery offers and then convert players into casino players. and highly qualified sports betting. LottoKings and WinTrillions have attracted and retained millions of player registrations.
Caution Regarding Forward-Looking Information
This press release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical facts, which address activities, events, results, developments, performance or achievements that the Company anticipates or expects to occur or will occur in the future (in whole or in part) should be considered forward-looking. information search. Such information may include, but is not limited to, statements regarding: the listing of the Company’s shares on the CSE; the Company’s business and business plans; the company’s strategy and current focus on building brands in the global online gaming market; the anticipated effect of the Company’s listing; and global market opportunities in the online gaming space, including with respect to anticipated growth, legalization progress in various jurisdictions, and growth in other jurisdictions. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “expected”, “estimates”, “forecasts”. “, “intends”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases, or statements formed in the future tense or that certain actions, events or results “may ”, “could”, “might”, “could” or “will” (or other variations of the above) be taken, occur, be reached or occur. Forward-looking information is based on competitive, financial and economic data and operating plans, strategies or beliefs currently available as of the date of this press release, but involves known and unknown risks, uncertainties, assumptions and other factors that may cause actual results. , performance or achievements of the Company are materially different from any future results, performance or achievements expressed or implied by the forward-looking information. These factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs regarding future growth. , results of operations, future capital (including the amount, nature and sources of their financing) and expenses. All forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the Company’s securities should be considered highly speculative.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.
SOURCEKings Entertainment Group Inc.