Kings Entertainment to Offer iGaming, Lottery Options in Mexico
Posted on: March 16, 2022, 07:29h.
Last updated on: March 16, 2022, 10:48h.
Kings Entertainment Group is preparing to introduce new online gaming options in Mexico. The Canada-listed company signed a partnership with telecommunications service provider Balesia to bring its products to the Latin American market.
Balesia has more than six million mobile phone users in Mexico, and more throughout Latin America. Through the new partnership with Kings Entertainment, it will soon be able to offer those users access to a new gaming experience through the WinTrillions’ global lottery and iGaming platform
In a world where telecommunications and entertainment technology are merging and transforming into a single experience, we see WinTrillions as the ideal platform to offer our users a complete, safe, fair, affordable and fun gaming experience. Our user bases are very complementary, and we see significant potential to extend this further,” states Balesia CEO George Alvarez.
Kings Entertainment provides online services for lotteries, casinos and bookmakers around the globe. Among its more popular options are online gaming disruptors LottoKings and WinTrillions. These products and others will arrive in Mexico later this year after Kings Entertainment signed a contract to establish a marketing partnership with Balesia, one of the largest owners of telecommunications towers in Latin America.
Kings Entertainment, which emerged in the iGaming space 17 years ago, plans to launch the WinTrillions lottery and its iGaming options in Mexico in early April. After, it plans to expand throughout Latin America by the end of this year.
2022 a Pivotal Year
Kings Entertainment started 2022 hoping for a lot of positive momentum. Its name was added to the Canadian Securities Exchange toward the end of January under the ticker JKPT. It then expanded its access to the proprietary LottoHub app, which is now available for Android and iOS devices.
LottoHub provides instant results for avid lottery players all over the world. The new iOS launch followed the launch of LottoHub’s Android app. It saw thousands of downloads worldwide, including in Peru, Chile, Colombia, and Mexico, which are all important markets for Kings Entertainment products.
The LottoHub app for Android and iOS is free to download and offers instant results from up to 10 top lotteries located worldwide. Users can opt in to notifications and set up alerts, based on their preferences.
A couple of weeks ago, Kings Entertainment provided an update on its financial situation. It stated that it capitalized on a recent fundraising in February to launch new marketing campaigns aimed at increasing customer registrations and deposits.
Although it didn’t specify the source of the capital raise, the company recently granted stock options to certain targets. The incentive options were offered at an exercise price of $0.50 (US$0.39) per share and are valid for five years. The total amount raised was approximately $462,000 (US$363,085.80).
Continue Growth Driving Success
Kings Entertainment added that the marketing campaigns had been “extremely effective” in increasing registrations by 136% compared to January, despite February being three days shorter.
February saw 15,449 sign-ups across the company’s suite of products. LottoKings, its flagship brand, reported a 30% increase of revenue from January to February.
The group reported increased casino revenue in February. Live casino players increased by 12%, while revenue from casino operations increased to $150,767 (US$118,491). This was 36% better than the first 28 days in January. For all of 2021, its casino revenue was $1.41 million (US$1.11 million).
Kings Entertainment has moved away from focusing solely on lottery products in favor of revenue growth in the lucrative online casino vertical. However, it continues to expand its core online lottery operations. Content from Red Tiger Gaming and Oryx Gaming help it to create a top-quality casino offering, while Evolution Gaming provides live casino content.
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