Canada
Rivalry Issues 2022 Business Update
Triple-Digit Growth in 2021 and a Fortified Balance Sheet Sets the Stage for Rivalry to Continue Redefining Next Gen Betting and Entertainment in 2022
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (FSE: 9VK), an internationally regulated sports betting and media company, today issued a letter to shareholders summarizing recent progress and outlining strategic priorities for 2022. The full text of the letter follows. All dollar figures are quoted in Canadian dollars.
Rivalry Corp. 2022 Business Update
To our Shareholders,
At Rivalry Corp. (“Rivalry” or the “Company”) we aspire for every year to exceed the last, and in 2021, our third full year of operating, we did just that. We delivered our strongest growth to date.
Since launch, we have demonstrated discipline and execution. Some highlights:
- Created the most engaged esports betting brand globally1;
- Increased revenue more than 600% year-over-year (YoY) to $8.9M as of our most recent reported quarter (Q3 2021) on a year-to-date (YTD) basis;
- Grew betting handle2 over 180% YoY to $66.1M through October 2021 on a YTD basis, with an implied annual run rate as of the last reported quarter (Q3 2021) of nearly $100M;
- Customer registrations increased to approximately 600,000 through October 2021 on a YTD basis, up from 350,000 as at 2020 year-end;
- Customer acquisition costs remain significantly below market and deliver profitable unit economics3;
- Developed all of our technology in house;
- Pioneered a new gaming category of Massive Multiplayer Online Gambling Games (MMOGG) with our proprietary title Rushlane;
- Conditionally granted a sports bookmaker licence in Australia from the Northern Territory Racing Commission (Australia) (the “NTRC”);
- Submitted an application to the Alcohol and Gaming Commission of Ontario (the “AGCO”) to become a fully registered operator of internet gaming and sports betting in Ontario;
- Commenced trading via direct listing on the TSX Venture Exchange on October 5, 2021.
Our ambition does not end there. We are confident 2022 will be another record year of accomplishments. The investment we will be making in all key areas of the business will likely exceed the past three years combined. This sets 2022 up for a multitude of material catalysts:
- Anticipated launch in two new regulated markets, Australia and Ontario;
- Innovative product releases, demonstrating the power and scalability of our proprietary technology;
- New originally developed games to complement Rushlane and our MMOGG category;
- New content and media to continue positioning Rivalry as a market-leading brand at the forefront of internet culture;
- Launch in new geographies under our existing Isle of Man licence to provide continuous user growth and brand reach across the globe; and
- Expand our capital markets presence to increase investor awareness.
Backing this effort is a fortified balance sheet with approximately $41.3 million of cash and no debt as at our most recently reported quarter (Q3 2021), a figure several times the amount we spent to build the entire business.
We are executing against a generational opportunity, and our vision is clear:
- Become the leader in next-gen sports betting and entertainment globally.
- Have the most engaged brand and portfolio of IP (games, content, creators, and more) that is revered and trusted.
We expect that success on these key priorities will make Rivalry transportable into new categories beyond betting. Why? Because we have a loyal user base and a foundation of trust with under 30’s in a regulated framework, fully KYC’d, with funded wallets, who are deeply engaged in our universe.
Rivalry was born through the mutual passion we share with our target audience: gaming and internet culture. At approximately 40% of the global population4, Gen Z and young Millennials, my generation and much of the team represent the largest generational cohort in history. We grew up interfaced with the internet, and view gaming as the sport of the internet. Through that lens, we have shaped Rivalry as a brand that is deeply woven into the fabric of this emerging internet culture that is reshaping multiple consumer industries, in addition to sports betting.
I’m confident Rivalry as a company, and a collection of talented individuals understands better than any of our peers how to navigate and participate in this culture. It is an inevitable generational tidal wave that we are focusing all our efforts on acquiring, retaining, and entertaining.
The growth and market leadership advantages we have created are a product of our disciplined execution on hundreds of large and small details that we deliver as a simple and cohesive user experience. This is how we are building brand equity with long-term sustainable value.
We measure our success on these efforts in revenue growth and margin expansion, healthy customer acquisition metrics, profitable unit economics, and deepening brand engagement.
In 2022 we are committed to expanding our brand leadership not just in next-gen sports betting globally, but in entertainment in this rapidly evolving internet culture that we are part of. It’s my belief that this intersection we live in, and the demographic we are serving, represents one of the biggest opportunities of the coming decade.
I have complete conviction in our team and strategy, which is now underpinned by the strongest balance sheet we have had since the founding. We will continue to deliver, and 2022 will demonstrate to the market what kind of pace we are capable of.
I wish everyone a successful and healthy year.
Steven Salz
Co-Founder & CEO
Rivalry Corp.
________________________
1 Source: Twitonomy, Social Blade, Rival IQ
2 The Company defines “Betting Handle” or “Handle” as the total dollar value accepted in wagers, adjusted for cancellations and corrections.
3 Source: Multiple EU public sportsbook filings
4 Source: United Nations
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Ezugi, an innovative live dealer casino supplier known for pushing the boundaries of live gaming, retention, and distribution solutions, is proud to announce a new partnership with PokerStars, the world’s largest online poker site.
Through this partnership, PokerStars’ players in the UK and Ontario will gain access to Ezugi’s standout portfolio, including Revolution Roulette, Ultimate Roulette, Unlimited Blackjack and Lucky 7 online casino games.
PokerStars, launched in 2001, is one of the world’s leading online poker and casino brands and operates as part of Flutter Entertainment. It has grown to become the largest poker site globally, offering the widest selection of online games and hosting prestigious live tournaments.
Formed in 2012, Ezugi is a global live casino provider with a focus on meeting operator and player needs with best-of-breed localised content. The Ezugi games portfolio includes a wide range of live dealer games, many of which are unique. Ezugi became part of Evolution in 2018 and continues to build on its reputation for providing unique and innovative games and solutions for online casino and retail betting shop operators.
Gilad Ben-Ami, Chief Executive Officer at Ezugi, said: “PokerStars’ players already enjoy a wide range of live casino and online slot games from Evolution brands such as Evolution, NetEnt, Red Tiger and Big Time Gaming. Now Ezugi is delighted and honoured to add even more choice for PokerStars’ players with our own innovative games.”
Ben-Ami continued: “The release of Ezugi games to PokerStars clearly demonstrates the rich variety and innovative features of the Ezugi games portfolio. Ultimate Roulette is a unique multiplier Roulette that blends circus-themed fun and TV game show excitement; Revolution Roulette puts a unique spin on classic Roulette by adding special multiplier pockets to the wheel; Unlimited Blackjack allows an unlimited number of players to play at the table, while also featuring Auto-Split functionality and a choice of four side bets – Perfect Pairs, 21+3, Perfect 11 and Ten20; and Lucky 7 is a very popular game with its origins in the Indian subcontinent – a fast-paced, simple and exciting Hi-Lo card game.”
Ben-Ami concluded: “We are confident that PokerStars’ players will love playing these games and we look forward to adding more Ezugi titles for them in the future.”
The post Ezugi partners with PokerStars to further extend live casino game choice for players appeared first on European Gaming Industry News.
After A Review Of Canada’s Gambling Landscape, RoboCat Casino Was Awarded The “Best Online Casino In Canada 2025” Based On 8,000+ Games, Responsible Gambling and Fast Payouts
Vancouver, Sept. 24, 2025 (GLOBE NEWSWIRE) — 
RoboCat Casino, an award-winning online casino with presence on Europe, Australia, New Zealand, UK, USA and LATAM, was recently awarded the title of “Best Online Casino in Canada 2025” after a comprehensive review of the online gambling industry in the country, performed by experienced iGaming specialists.
New players can take advantage of RoboCat Casino’s welcome bonus by joining their platform today:
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RoboCat currently offers the biggest welcome bonus, because new players can get 100% extra on their first deposit + 200 Free Spins + a surprise bonus (more free spins, free money, cashback, amongst other possible rewards).
In addition, the Canadian online casino also offers over 8,000 real money games from the best providers in the world, putting the best online slots, blackjack, poker, baccarat, craps, crash, plinko, live dealer, lotto and bingo games at the disposal of online players and bettors in Canada.
“The mission of our team is to help players find the best sites for gambling online so they can enjoy an exciting, rewarding and safe online gaming experience” – “… and we found that RoboCat is on top of all the other online casinos in Canada, because it delivers more value in all the areas that matter for online players and bettors”.
A Comprehensive Review Focused on the Player
The team that performed the review and research revealed that they focused it on the player, hence they targeted the following areas:
- License
- Fairness
- Quality of Games
- Quality of Bonuses and Promotions
- Payment Methods and Banking Experience
- Online Security
- Mobile Experience
- Quality of Sportsbook
- KYC
- Limits for Deposits and Withdrawals
- Customer Support Service
The team used these key elements to develop the criteria for selecting, reviewing, and comparing the top online casinos in Canada, ultimately choosing RoboCat Casino as the best real money gambling platform for 2025.
The team explained that RoboCat was named ‘Best Online Casino in Canada 2025’ due to its outstanding performance across all evaluated criteria.
“RoboCat offers over 8,000 games from nearly 100 top-class providers, which is the largest library of real money games in Canada nowadays” – “offering such an outstanding number of high-quality games allows RoboCat to bring its customers a significantly better online gaming experience, especially for online slots players”.
“Regarding bonuses, RoboCat Casino is the most generous platform in Canada because it offers a big welcome bonus, plenty of weekly and weekend reload bonuses which reward players with free money and free spins, extra rewards of free spins, cashback, rakeback, amongst other benefits that other Canadian online casinos fail to deliver”.
The team shared their comments for all the evaluated criteria regarding RoboCat, offering a complete overview on why they elected this brand as the best platform for real money gambling in Canada:
- License: License issued by the Offshore Finance Authority of The State of Anjouan
- Fairness: Audited by independent third-party auditing firms
- Quality of Games: 8,000+ real money games from industry-leading providers such as NetEnt, Evolution, Microgaming, Habanero and Jumpman
- Quality of Bonuses and Promotions: 100% extra on first deposit + 200 Free Spins; reload bonuses, cashback, free bets, rakeback and free spins rewards. Featuring low wagering requirements
- Payment Methods and Banking Experience: Instant deposits, fast payouts, plenty of payment methods including credit cards, debit cards, trending digital wallet currencies, FundID and Interac
- Online Security: Uses military-grade encryption, has a dedicated online security team, secured servers, no history of data leaks or breaches
- Mobile Experience: Offers an HTML5-powered mobile website available on all browsers, runs on Android and iOS flawlessly
- Quality of Sportsbook: Offers over 35 sports and esports with high odds and exclusive bonuses such as free bets, deposit bonuses, reload bonuses and cashback
- KYC: Easy to fulfill KYC procedures, no requirement to complete KYC as a new user or to get first withdrawal approved
- Limits for Deposits and Withdrawals: Unlimited limit for deposits and withdrawals up to $10,000 per day. The casino can increase the limits for high rollers
- Customer Support Service: Available via live chat, email and phone. Fast answer time and professional customer support team
The team expressed their happiness in finding an online casino which can offer Canadian players and bettors the online betting and gambling experience they deserved: “RoboCat scores high in all the areas that matter, offering an outstanding, exciting, safe and fair experience”.
All players interested in joining RoboCat to play 8,000+ real money games can sign up today and claim an exclusive welcome bonus offer:
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RoboCat Casino Actively Promotes and Enforces Responsible Gambling
The team explained that they considered the commitment to responsible gambling as an important factor in their comprehensive review of the industry: “A platform can deliver everything players want, but if they fail to protect players and promote responsible gambling, we take it out of our ranking… because gambling must be fun but also safe”.
RoboCat Casino is equipped with technology and a dedicated team which can detect problematic gambling patterns, providing affected players with prompt solutions and assistance.
The online casino also offers tools and features to limit the spending on their platform, granting players the possibility to control their online gambling activities.
The specialists also confirmed that RoboCat Casino provides a self-exclusion feature, with 24/7 customer support available to assist players in closing their accounts if needed.
“The era of unregulated online gambling is over. Today, safety comes first—one of the key reasons we chose RoboCat as Canada’s top online casino for 2025. They prioritise player protection and take responsible gambling seriously.”
“RoboCat Is The Best Brand in 2025, But Let’s See If They Retain Their Place in 2026”
“After making this in-depth review, analysis and research, we found out RoboCat is the best online casino brand for Canadian players in 2025” – “… but you know, the online gambling industry is extremely fast-paced. You have new brands every single month, and they’re competing fiercely against each other. Therefore, we are going to revisit our research and perform a new analysis in 2026, to see if RoboCat remains the best online casino in Canada or if another brand is going to take its place” – concluded Angel K.
To celebrate this award, RoboCat has released a new welcome bonus of 100% extra on the first deposit + 200 Free Spins + 1 surprise bonus, which new players can redeem below:
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- Live Chat: https://casinos.cc/robocat-casino/support/
- Email: [email protected]
Disclaimer
This article contains affiliate links. If you purchase through these links, a commission may be earned at no additional cost to you. The information provided is for informational purposes only and is not investment, financial, medical, or legal advice. Readers should verify details independently and consult qualified professionals before making any purchasing or financial decisions
CONTACT: Live Chat: https://casinos.cc/robocat-casino/support/ Email: [email protected]
Bragg Gaming Group, a leading global B2B iGaming content and technology provider, announced it has entered into a new financing agreement with the Bank of Montreal (BMO), a leading North American financial institution, pursuant to which BMO has made available to the Company certain credit facilities in a maximum aggregate amount of up to US$6.0 million to support its ongoing working capital and general corporate requirements (the BMO Facilities).
In connection with the closing of the BMO Facilities, Bragg has successfully repaid in full the outstanding promissory note with entities controlled by Doug Fallon (the Prior Note Indebtedness). The new BMO Facilities replace the Prior Note Indebtedness, signalling a significant step in the Company’s financial strategy to partner with a major commercial bank to support its growth.
“We are very pleased to establish this new relationship with the Bank of Montreal, a recognized leader in financial services. This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan. The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects. We look forward to a long and successful partnership with BMO,” said Robbie Bressler, CFO of Bragg Gaming Group.
The BMO Facilities are secured by, amongst other things, a first-ranking security interest over all of the assets of the Company and certain of its key operating subsidiaries, and are uncommitted and are repayable upon the earlier of (i) demand by BMO, (ii) the occurrence of certain insolvency events, and (iii) on the one-year anniversary of the closing date, unless a one-year extension is granted at BMO’s discretion.
The agreement includes customary legal and financial covenants, including a requirement for the Company to maintain a Total Funded Debt to EBITDA ratio not exceeding 2.50:1.00, and a Fixed Charge Coverage Ratio of not less than 1.25:1.00. These financial covenants are to be tested on a consolidated basis at the end of each fiscal quarter.
The Company currently expects to draw on the BMO Facilities in Canadian dollars, which would result in estimated borrowing costs of 6.9%–7.9% for Prime-based loans or 5.9%–6.9% for CORRA-based loans, depending on the period of the draw and the Company’s leverage ratio. Standby fees on the unused portion of the revolving facility will range from 0.75% to 1.75% per annum, depending on leverage.
Management believes that based on the terms of the BMO Facilities, the Company’s borrowing costs on an annualized basis will be less than half of its Prior Note Debt.
Matevž Mazij, CEO of Bragg Gaming Group, said: “Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg’s financial foundation and accelerate value creation for our shareholders. With our cybersecurity incident contained and our borrowing costs cut by more than half, we are laser-focused on executing our strategic shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation. We’ve already realized EUR 2 million in annualized synergies and are on track to achieve our 20% Adjusted EBITDA margin target for the second half of 2025.
“Our recent leadership additions in AI and innovation, combined with our expanding partnerships with operators like Fanatics and Hard Rock Digital, position us to pursue highly accretive growth opportunities methodically. The Company remains focused on growing the business in a sustainable and margin-accretive manner, with strong momentum in the proprietary content and technology pipeline positioning Bragg for long-term profitable growth.
“We understand the importance of delivering results for our shareholders, and our board and management team are fully aligned and committed to executing the strategic initiatives that will drive value. With improved financial flexibility, a strengthened operational foundation, and clear milestones ahead, we believe we have the right strategy and team in place to unlock Bragg’s full potential. We remain committed to maximizing shareholder value as we build sustainable, profitable growth and ensure our strong operational performance translates into appropriate market valuation.”
Cyber Breach Update
The Company has also provided an update on its previously announced cybersecurity incident initially detected on August 16, 2025.
Immediately following detection, Bragg took appropriate steps to mitigate any potential impact of the breach. With the assistance of independent cybersecurity experts, the Company has followed industry best practices and considers that the incident is now resolved.
There continues to be no indication that any personal information was affected and the breach has had no impact on the ability of the Company to continue its operations. Bragg has also provided assurances to its customers regarding the security of its game titles. The Company has experienced no negative impact on its revenue or profitability and does not expect that the cost of responding to the incident will have a material financial impact on the Company.
The Company has already applied knowledge gathered from the investigation of the event to enhance its cyber security defenses.
The post Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal appeared first on European Gaming Industry News.
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