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Kings Ent. Reports March 2022 Highlights

This week, Vancouver-based Kings Entertainment Group published its highlights and player activity for March 2022. The company which offers services for lottery, casino, and sportsbook services and is the parent entity of LottoKings and WinTrillions has had a strong month, during which it saw a significant player increase as well as continued casino growth from its operations.

The company is an international online service provider for lottery, casinos, and sportsbook gambling operators. Through its LottoKings and WinTrillions subsidiaries, the firm offers top-class lottery offerings as well as a premium range of online casino and sportsbook verticals. And both of the daughter entities have attracted and engaged millions of customers since their inception.

Solid March Performance

In March, Kings Entertainment reported a tremendous overall performance, as in contrast to the regular sports and casino industries, which are often volatile, the lottery one is quite solid. This is due to the fact that the lottery sector depends on jackpot sizes and rewards for its proceeds. According to the company, active players have increased by 15% or to 5,200 last month.

Its two flagship brands Lotto Kings and WinTrillions have also welcomed many new users, as their player bases spiked by 72% over the February 2022 numbers. CEO of the company, Steve Budin, shared that the provider is pleased to be able to continue increasing its player base of customers. He commented that building, growing, and retaining the number of active players is the key to any gambling corporation’s success.

In addition to that, Mr. Budin has also said the ability to attract and retain new customers without having the incentive of large jackpots is a testament to the popularity and strength of the company’s brands. He also indicated that the company continues to be focused on organic growth and CRM strategies to build its brand, and plans to launch paid marketing programs, once jackpot sizes ensure the investment.

Ontario’s New Market

Currently, Kings Entertainment is not allowed to operate in B.C. as the only regulated online gambling offerings in the province are provided by the British Columbia Lottery Corporation. However, in Ontario, the scenery is quite different as the province launched its regulated online sports betting and casino market for private operators. The province is the first Canadian jurisdiction to launch such a regime.

Mr. Budin commented that Ontario’s new market is an exciting development for the province’s gambling industry. According to him, jurisdictions from all around the globe are looking to implement regulatory frameworks that support legal gambling, thus providing a safe gaming environment, creating jobs, and keeping revenue to the local economy. He stated that the company is fully behind such plans, and it is exploring opportunities to join such markets.

Successful Start

At launch on April 4, 2022, Ontario’s market debuted with around 14 operators who started to offer their products on day one. So far, many big-name corporations have made their way into the market, including FanDuel, which went live as soon as the market opened up. Its FanDuel’s Sportsbook app with embedded casino and its standalone Casino app are now available to play.

Source: “Kings Entertainment Shares March Operational Highlights”, YahooSports, April 12, 2022