The Company's recent decision to concentrate its marketing efforts on the US market is paying off with increased number of downloads, more active monthly users, high-value players, and most recently, Kash Karnival achieving a 5-star rating on the Apple App Store and a 4-star rating on the Google Play Store.
Royal Wins CEO Peter Gan commented: "The consistently positive customer feedback we are getting on our flagship skill-gaming product is very encouraging, and its ever-growing popularity means we are firmly entrenched within the Google Play Store and Apple App Store. We have now applied to have Kash Karnival published on the Samsung Galaxy Store too - further increasing our Android footprint. The platform adjustments we've made recently now allow us to fulfil an instant Know Your Client process from submission to approval, with a target 24-hour turnaround for all legitimate cashouts. Jackpots amongst active and high-roller players are extremely popular. As a result, we are increasing our jackpot types, sizes and frequency for various bet amounts. This is intended to radically improve our retention rates and LTV."
Advertising and Marketing with North American Focus
The US market response has exceeded the Company's expectations prompting management to direct approximately 90% of the Kash Karnival advertising budget towards the North American market, with a special focus on the United States.
Royal Wins has also fine-tuned advertising and marketing language to meet compliance and regulatory requirements with the major social networks, Google search and display networks, and in-game advertising. Management expects that this will reduce current new customer acquisition costs from $12.60 per new subscriber to a long-run average of $5.40, especially for Android users. Email-Direct-Marketing and user communications have also received similar treatment, ensuring that all users, especially active paying customers, receive clear messaging for "Play to Earn" games and reward mechanics, and efficient responses to users making deposits or cashing out.
Efficiency upgrades have also been implemented to include more ways for users to make deposits quickly via a variety of credit card payments as well as in-app purchases and Know Your Client (KYC) process. Royal Wins is now able to offer instant approvals upon acceptance of required KYC documents, and reduce turnaround time for cashouts for verified and approved users from 3 working days to effectively 24 hours. The Company sees this as an important upgrade to build user trust and positive reviews.
Arcade Corner
The Play for Prizes section called Arcade Corner is also seeing a strong popularity increase amongst users who wish to win and redeem real item prizes. On average, Royal Wins is seeing a 170% month-on-month increase in the Arcade Corner activity, with a total of more than 27,000 sessions played. The Company will now be expanding the range of real prizes for users to bet more and win bigger tickets and bespoke items of up to CAD$5,000 in value.
Royal Wins also announces that the Company has today granted 11,772,882 incentive stock options to employees, officers, directors, advisors, and consultants of the Company pursuant to its "2021 Incentive Stock Option Plan". Each Option has an exercise price of $0.30 for a period of five years from the date of grant with a range of vesting periods.
About Royal Wins Corporation
Royal Wins is an innovative digital games studio pioneering pure-skill gaming with real cash prizes available on mobile casual games. Established in 2014, we design, develop, and operate real-cash prize skill games to disrupt and dominate the online gaming space, so that all players of legal age can play and win life-changing jackpots and prizes based on their skill as opposed to pure chance and odds. Our primary innovation and intellectual property centres around solving big data problems surrounding skill gaming mechanics, algorithms pertaining to balancing cash prizes, game difficulty modules, and maintenance of Player Rewards percentages.
Royal Wins has released a suite of pure-skill mobile games on Android and iOS mobile/tablet platforms.
Royal Wins is listed on the Canadian Securities Exchange under the ticker symbol SKLL and on the OTCQB under the ticker symbol RYWCF.
For more information, please contact:
Royal Wins Corporation
Nicholas Konkin
Communications Director
Phone: 1 647 249 9299, ext. 305
E-mail: ir@royalwins.com
Forward-Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company's filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements regarding the Company's unaudited financial results and projected growth. Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Royal Wins Corporation disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112577
