The number of new registrations increased by 90% compared to the previous month, resulting in a 56% increase in the number of new customers making deposits.
VANCOUVER, British Columbia, June 6, 2022 /CHNV/ – Kings Entertainment Group Inc. (“Kings Entertainment” or “Company“), an international provider of online services for lotteries, casinos and gambling, and the parent company of global online gaming innovators. LottoKings as well as WinTrillions, today shared the highlights of the Company’s activities for the month May 2022.
Both new customer registrations and new customer deposits continued to grow in May, driven by flagship lottery brands Kings Entertainment, Win Trillions and Lotto Kings. While persistently low jackpots dampened the enthusiasm of customers across the sector worldwide, Kings managed to add nearly 13,000 new signups, up 90% from April, and 1,466 new depositors, up 56% from the same period.
Active casino customers jumped nearly 15%, with 939 active live and virtual casino players, although casino revenue was down nearly 60% for the month due to customer winnings in the casino division.
The increase in active casino customers contributed to Kings’ overall 3% increase in active customers, although significant casino winnings resulted in a slight decrease in overall revenue.
“We are very pleased with the steady growth we have achieved,” commented Steve Budin, CEO of Kings Entertainment. “Despite a long period of low lottery jackpots, we have continued to successfully increase the number of active customers. We are confident that, over time, this strong base of active customers will lead to long-term and sustainable net profit growth. “
“We are also very focused on our previously announced acquisition of Sports Venture Holdings, operator of Canada’s leading sports betting brand Bet99,” Mr. Budin added. “This acquisition brings together two strong brands in the international online gambling sector and also gives Kings a strong foothold in the emerging Canadian sports betting market.”
About Kings Entertainment
Kings Entertainment (CSE:JKPT, OTC:JKPTF) is an international provider of online lottery, casino and gambling services and the parent company of global online gaming innovators. LottoKings as well as WinTrillions. These brands use their ability to attract prospective players through well-known lottery offers, and then enroll players in a range of casino and bookmaker offerings. Since their inception, LottoKings and WinTrillions have attracted and retained millions of registered players.
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 relating to historical facts, that relate to activities, events, results, results, events, performance or achievements that the Company expects or expects that they may or will take place in the future (in whole or in part), must regarded as predictive. Information. Such information may include, but is not limited to, statements regarding: the activities and business plans of the Company; company strategy and current focus on brand development in the global online gaming market; and global market opportunities for online gaming, including in relation to expected growth, legalization progress in various jurisdictions, and growth in Latin America. Often, but not always, forward-looking information can be identified by words such as plans, expected, expected, budget, planned, estimates, forecasts, intends, foresees “, or “believes”, or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, ” will, “may be” or “will” (or other variations of the foregoing) be undertaken, occur, be achieved or occur. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or assumptions as of the date release of this news release, but involves known and unknown risks, uncertainties, assumptions and other factors that could affect the actual results, results or achievements of the Company must differ materially from any future results, results or achievements expressed or implied by forward-looking information. Such 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 about future growth, performance, future capital (including the size, nature and funding sources) and costs. Any and all forward-looking information contained in this press release is expressly set forth in this cautionary statement. Trading in the Company’s securities should be recognized as highly speculative.
SOURCE Kings Entertainment
For more information: For Kings Entertainment Group, please contact: Steve Budin, CEO, [email protected], [email protected], 604.961.0296; For Canadian media inquiries or interviews please contact: Christy Kaiser, Thirty Dash Communications, [email protected]