Canada

Rivalry Issues 2022 Business Update

Published

4 years ago

January 4, 2022

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}

23 Broadway

23 Broadway secures $3m seed funding to launch AI-powered user acquisition financing platform

Published

6 hours ago

March 18, 2026

GamingAmericas.com

23-broadway-secures-$3m-seed-funding-to-launch-ai-powered-user-acquisition-financing-platform

23 Broadway has secured $3 million in Seed funding to accelerate the next phase of its growth and launch a fully integrated AI-powered user acquisition financing platform.

The funding round was co-led by Betty and Will Ventures, with participation from 359 Capital, CEAS Investments, and Dave Bartman.

23 Broadway was integral in catapulting Betty to an 18% market share in Ontario through its world-class performance marketing team and proprietary AI system called Atlas.

Atlas determines the optimal cost of acquiring a customer and their predicted long-term value.
With this new funding, 23 Broadway will add non-dilutive capital to fund user acquisition to run alongside its existing performance marketing and technology capabilities into a single integrated solution.

Jordan Tuch, CEO of 23 Broadway, said: “23 Broadway is reimagining user acquisition financing by not only providing capital but deploying it through proprietary technology and performance marketing expertise. We’ve created a model that empowers businesses to scale faster without needing to build complex technology or marketing infrastructure themselves. The ability to use AI and execute bids based on a customer’s predicted lifetime value means we can deploy capital far more efficiently. That combination of predictive intelligence and funding creates a powerful growth engine for our partners.”

The underlying thesis is that platforms combining in-house technology and performance marketing expertise can offer a truly differentiated and durable user acquisition financing solution.

Growth-stage businesses benefit from access to dedicated capital for customer acquisition without equity dilution, while also being able to implement advanced marketing execution across platforms such as Google Ads and other major advertising ecosystems.

Funding will be allocated to develop Atlas further and enhance 23 Broadway’s predictive modelling capabilities. Another focus will be building new AI-driven models to help gaming companies strengthen retention marketing strategies. A final part will be to onboard additional partners seeking scalable user acquisition financing solutions.

The post 23 Broadway secures $3m seed funding to launch AI-powered user acquisition financing platform appeared first on Americas iGaming & Sports Betting News.

23 Broadway

23 Broadway secures $3m seed funding to launch AI-powered user acquisition financing platform

Published

7 hours ago

March 18, 2026

Wladimir P.

23 Broadway has raised $3 million in Seed funding to drive the next phase of its growth and launch a fully integrated, AI-powered user acquisition financing platform.

The funding round was co-led by Betty and Will Ventures, with participation from 359 Capital, CEAS Investments, and Dave Bartman.

The company played a key role in helping Betty achieve an 18% market share in Ontario, leveraging its world-class performance marketing team and proprietary AI system, Atlas. Atlas predicts the optimal cost to acquire a customer and estimates their long-term value, allowing marketing spend to be deployed with precision.

With this new capital, 23 Broadway will integrate non-dilutive financing with its existing performance marketing and technology capabilities, offering a single, streamlined solution for user acquisition.

Jordan Tuch, CEO of 23 Broadway, said: “23 Broadway is reimagining user acquisition financing by not only providing capital but deploying it through proprietary technology and performance marketing expertise. We’ve created a model that empowers businesses to scale faster without needing to build complex technology or marketing infrastructure themselves. The ability to use AI and execute bids based on a customer’s predicted lifetime value means we can deploy capital far more efficiently. That combination of predictive intelligence and funding creates a powerful growth engine for our partners.”

The company’s strategy centers on combining in-house technology with performance marketing expertise to deliver a differentiated, durable user acquisition financing solution. Growth-stage businesses gain access to dedicated capital for customer acquisition without giving up equity, while also benefiting from advanced marketing execution across major advertising platforms like Google Ads.

The funding will support further development of Atlas and enhance 23 Broadway’s predictive modeling capabilities. Additional priorities include creating new AI-driven tools to strengthen retention marketing for gaming companies and onboarding more partners seeking scalable user acquisition financing solutions.

The post 23 Broadway secures $3m seed funding to launch AI-powered user acquisition financing platform appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

AiGC

Soft2Bet Eyes Alberta iGaming Market Expansion in Canada

Published

2 days ago

March 16, 2026

Wladimir P.

soft2bet-eyes-alberta-igaming-market-expansion-in-canada

Soft2Bet, a global provider of turnkey iGaming solutions, has announced plans to pursue entry into the regulated gaming market in Alberta as part of its broader strategy to expand its footprint across Canada.

The company confirmed that its entry will depend on regulatory approval once the province finalizes its evolving legal framework for online gaming. The move reflects Soft2Bet’s growing commitment to the Canadian market and its strategy to scale operations across newly regulated territories in North America.

A Strategic Move Toward Alberta’s Emerging iGaming Market

As one of Canada’s most economically robust provinces, Alberta has quickly become a focal point for iGaming operators and technology providers preparing for potential market liberalization.

Industry forecasts indicate that Alberta’s regulated online gaming sector could become one of the country’s most lucrative regional markets. Estimates from analysts at Citizens JMP Securities suggest that the province’s iGaming industry could generate over $700 million in annual revenue once the market reaches maturity.

Soft2Bet’s early evaluation of the market demonstrates the company’s proactive approach to identifying high-growth opportunities in newly regulated jurisdictions.

Monitoring the iGaming Alberta Act

Soft2Bet is closely observing developments surrounding the proposed regulatory framework established under the iGaming Alberta Act. The legislation outlines the structure for Alberta’s regulated online gaming industry and establishes oversight responsibilities for provincial authorities.

Under the proposed system, the Alberta iGaming Corporation would oversee the province’s online gaming ecosystem, while regulatory enforcement would remain with the Alberta Gaming, Liquor and Cannabis.

Soft2Bet has indicated that it is preparing to meet Alberta’s anticipated compliance and technical standards, ensuring its platform technology aligns with the province’s regulatory expectations.

Building on Canadian Experience

Soft2Bet’s potential expansion into Alberta builds upon its experience operating in Ontario, where the company already offers localized gaming services through its consumer-facing brand ToonieBet.

The Ontario market has become one of North America’s most successful regulated online gaming jurisdictions since its launch in 2022, attracting numerous international operators and platform providers.

By leveraging insights from its Ontario operations, Soft2Bet aims to deliver tailored gaming experiences for players in Alberta while maintaining full compliance with regional regulations.

Localization as a Key Strategy

Localization remains a central pillar of Soft2Bet’s international growth strategy. The company emphasizes adapting its platforms and gaming products to match the cultural preferences, language requirements, and regulatory expectations of each market in which it operates.

Soft2Bet plans to apply this hyper-localized approach in Alberta by ensuring that its gaming offerings reflect the specific needs and preferences of Canadian players.

This includes customized content, localized branding, and user experiences that resonate with regional audiences.

Commitment to Innovation and Player Experience

According to company leadership, innovation remains a driving force behind Soft2Bet’s expansion strategy.

David Yatom Hay, General Counsel at Soft2Bet, highlighted the company’s commitment to delivering engaging gaming experiences that align with local player expectations.

The company continues to invest in platform technology and product development to create dynamic gaming environments that combine entertainment, compliance, and user-friendly design.

Expanding Across Regulated Markets

Soft2Bet’s interest in Alberta is part of a broader roadmap for 2026, which includes entering additional regulated markets around the world.

As governments increasingly adopt regulated frameworks for online gaming, technology providers like Soft2Bet are focusing on scalable solutions that allow them to quickly adapt to different regulatory environments.

Turnkey platforms, which include player management systems, gaming content, and compliance tools, have become essential for operators looking to enter new markets efficiently.

Canada’s Growing iGaming Landscape

Canada has rapidly become one of the most promising regions for online gaming growth in North America. The success of Ontario’s regulated market has encouraged other provinces to explore similar frameworks.

If Alberta successfully launches a competitive iGaming market, it could further strengthen Canada’s position as a key hub for regulated online gaming innovation.

Operators, developers, and platform providers are closely monitoring the regulatory process, positioning themselves for entry once licensing becomes available.

Looking Ahead

For Soft2Bet, Alberta represents a strategic opportunity to expand its presence in Canada while reinforcing its reputation as a global iGaming platform provider.

By preparing early for regulatory approval and leveraging its experience in Ontario, the company aims to deliver localized gaming experiences that meet the expectations of Canadian players and regulators alike.

As Alberta moves closer to establishing its regulated online gaming framework, Soft2Bet’s planned market entry signals the growing interest from international technology providers seeking to participate in Canada’s evolving digital gaming ecosystem.

The post Soft2Bet Eyes Alberta iGaming Market Expansion in Canada appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.