Kings Entertainment sees active customers rise by 9% for July

Home » Kings Entertainment sees active customers rise by 9% for July

Kings Entertainment Group has issued an operational update for July, highlighting a 9% month-over-month revenue increase.
Last month, the Vancouver-based company generated CA$555,349 (US$429,660) in revenue, a modest increase from CA$510,440 in June.
Lottery sales increased by 18%, which fueled this expansion. The group’s WinTrillions and Lotto Kings brands combined earned CA$446,126 in July, compared to CA$378,329 in June. In the meantime, Kings’ total active customers increased by 9%.

This expansion occurred in the context of a so-called “spike” in jackpots. The most notable example is the US Mega Millions jackpot, which reached $1.3 billion before being claimed by a single ticket in Illinois.

Steve Budin, CEO of Kings Entertainment, said 2022 has been “challenging,” but he remains optimistic given the recent uptick.

“We’re very pleased that July brought such a strong return to action for lottery jackpots,” he said. It’s been a difficult year with no significant lottery jackpot to promote – but we focused on keeping players active throughout the drought and are now seeing the results of that effort.”

This sentiment is largely consistent with Budin’s comments in March, when he stated the Kings’ focus on “building, growing, and retaining” their active player base.

In general, 2022 has been a hectic year for Kings. The company listed on the Canadian Securities Exchange in January, followed by preparations for an entry into the metaverse in February.

A few months later, Kings announced a merger agreement. The group entered into a business combination agreement with Sports Venture Holdings, Bet99’s parent company.

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