Luckbox gears up for Toronto IPO

Esports bookmaker Luckbox is ‘accelerating plans’ to list its business on the TSX Venture Exchange – Toronto’s marketplace for small-to-mid sized fast-growth enterprises.

Luckbox management reveals that during May it recruited TSX fund and ‘capital pool’ advisor Elephant Hill Capital to act as lead agent planning the firm’s IPO route.

Elephant Hill has published a prospectus on Luckbox, in which its details that the esports bookmaker recorded a ‘500% uplift in wagers during lockdown’. Luckbox is now pursuing an IPO to take full advantage of this growth.

Luckbox’s ‘proposed financing’ sees the esports bookmaker plan a ‘private subscription placement’ aiming to raise IPO proceeds of between $2-3 million.

Company CEO Quentin Martin said: “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.”

Preparing for its TSX listing, Luckbox aims to engage in a ‘short funding round’ led by Gravitas and Beacon Securities.

Founded in 2017 by enterprise team of former PokerStars executives, Isle of Man licensed Luckbox launched its full-scale esports wagering platform in the summer of 2019.

“The potential of esports betting is well documented and these past few months have brought that into sharper focus, accelerating the numbers,” added Martin. “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.”

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