Canada
Rivalry Announces Record Fourth Quarter and Year-End 2021 Results
- Betting handle of $78.2 million for FY 2021 increased 202% year-over-year, with Q4 2021 betting handle of $24.9 million up 389% YoY.1
- Revenue of $11.1 million for FY 2021 grew 617% YoY, with Q4 2021 revenue of $2.2 million up 615% YoY.
- Preliminary Q1 2022 betting handle of $40.2 million, a record high, up 62% sequentially from Q4 2021, and 273% year-over-year.
- Momentum being fueled by economic customer acquisition costs and robust payback periods, underpinned by innovative product and market leading brand equity.
- $35.5 million of cash and zero debt at year-end to support continued growth in core and new markets.
Rivalry Corp., an internationally regulated sports betting and entertainment company, today announced its financial results for the three and 12-month periods ended December 31, 2021. The Company also announced preliminary results for the three-month period ended March 31, 2022. All dollar figures are quoted in Canadian dollars.
“We had a tremendous year by nearly all measures in 2021. Our team delivered triple-digit growth, secured the financial resources to accelerate our momentum, continued to strengthen our originally developed product, added significant talent depth to our bench, and further solidified Rivalry as the most engaged brand in esports betting globally,”2 said Steven Salz, Co-Founder and CEO of Rivalry. “I’m also pleased to say we have continued that pacing into 2022, with our Q1 betting handle delivering 62% sequential growth over Q4, and up 273% year-over-year.”
Full-Year 2021 Financial Highlights
- Betting handle was $78.2 million in 2021, up 202% from $25.9 million in 2020.
- Revenue was $11.1 million for the full year, an increase of $9.5 million or 617% from $1.5 million in 2020.
- Gross profit was $2.2 million for the full year, an increase of $1.5 million or 217% from $0.69 million in 2020.
- The Company’s subordinate voting shares commenced trading on the TSX Venture Exchange and the Frankfurt Stock Exchange in October 2021, followed by a listing on the OTCQX just after year-end.
- The Company had $35.5 million of cash and no debt as at December 31, 2021.
Fourth Quarter 2021 Financial Highlights
- Betting handle was $24.9 million in Q4 2021, up 389% from $5.1 million in Q4 2020.
- Revenue was $2.2 million in the fourth quarter, an increase of $1.9 million or 615% from $0.3 million in Q4 2020.
- Gross profit was $0.4 million in the fourth quarter, an increase of $0.3 million or 366% from $0.1 million in 2020.
“The growth we saw in Q4 was highly encouraging, and a signal of strength in what is typically the most seasonally quiet quarter of the year, with us delivering modest sequential growth over Q3. As our traditional sports betting product has continued to improve, we are seeing a more diverse product mix, which is helping to blunt the seasonality of esports, something that we expect to continue in the future,” said Steven Salz.
2021 Operational Highlights
- Maintaining leadership in the rapidly growing esports segment with approximately 90% of betting handle being placed on esports events, compared to 10% on traditional sports.
- Successfully engaging the next generation bettor, with an average customer age of 26, and 82% of lifetime customers under the age of 30.
- Customer registrations increased to approximately 610,000 by the end of 2021, up from 350,000 one year earlier.
- Rivalry’s partner network and owned properties reached a total of 55 million followers.
- Pioneered a new gaming category of Massive Multiplayer Online Gambling Games (MMOGG) with the launch of proprietary title Rushlane.
- The Company made a number of key leadership hires throughout the year across nearly all departments, materially enhancing the talent bench.
Subsequent Events
- Momentum continued in the first quarter of 2022 with betting handle reaching a new record of $40.2 million, an increase of 273% year-over-year and up 62% sequentially from Q4 2021. The Company expects to announce complete results for Q1 2022 by the end of May.
- On January 22, 2022, the Company’s subordinate voting shares commenced trading on the OTCQX Best Market.
- On February 9, 2022, the Company was awarded its sports bookmaker license by the Northern Territory Racing Commission (Australia) pursuant to the Racing and Betting Act 1983 (NT), which allows the Company to legally operate throughout the whole of the country.
- In March 2022, the Company announced the addition of mobile esports to its sportsbook, enabling customers to wager on competitive esports played on mobile devices.
- The Company was among the first to commence operations in Ontario on April 4, 2022, the first day of regulated online gaming in the province.
Goals for 2022
- Meaningful expansion of the Company’s traditional sports offering to support the continued interest and growth it is seeing.
- New originally developed games to complement Rushlane and add depth to Rivalry’s massively multiplayer online gambling games category (MMOGG’s).
- Launching a mobile app consistent with the surprise and delight the Company believes the next generation of customers are looking for.
- A casino offering that is authentic to the Company’s demographic.
- Launch in new geographies under its existing Isle of Man license, and new regulated licenses to provide continuous growth in users and brand reach across the globe.
- A dynamic media strategy to continue positioning Rivalry as an industry-leading creative house operating at the forefront of internet culture.
“Our focus in 2022 is growth across product, new geographies, and an expansion of Rivalry’s creative universe to capitalize on what we believe is a generational opportunity to become the leader in betting and entertainment for the next generation. Through financially disciplined management, and executing on our targeted operational goals, we believe our positive unit economics will improve, and a path to profitability will become clear,” said Steven Salz.
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Canada
High Roller Technologies Signs Letter of Intent with Kindbridge Behavioral Health to Support Responsible Gambling in Ontario
High Roller Technologies Inc., operator of the award-winning, premium online casino brands High Roller and Fruta, announced it has entered into a non-binding Letter of Intent (LOI) with Kindbridge Behavioral Health (Kindbridge) to support its commitment to responsible gambling in Ontario, subject to licensing and regulatory approval.
Through the planned partnership with Kindbridge, High Roller intends to offer eligible Ontario players who choose to self-exclude a confidential pathway to support that helps individuals understand their options and take next steps at their own pace. The experience begins with education and a guided triage process, followed by the option to connect with no-cost peer support and, when appropriate, licensed Canadian clinicians. Using a stepped-care approach, individuals can start where they feel ready and access additional support over time, based on their needs and goals.
“We believe entertainment should always be enjoyed responsibly. Partnering with Kindbridge reinforces our commitment to player wellbeing by ensuring that anyone who may be experiencing challenges with their gambling activity has access to meaningful, professional support. This collaboration reflects our responsibility not only as an operator, but as a trusted brand that puts people first,” said Seth Young, Chief Executive Officer at High Roller.
Kindbridge works with gaming operators across North America to deliver early-intervention programs designed to identify, assess, and support at-risk individuals, including integration with self-exclusion and responsible gaming workflows.
“Building strong, accessible pathways to support is an essential part of effective responsible gambling programs.nOperators are uniquely positioned to assist individuals who may be experiencing distress by helping connect them to appropriate care. We’re proud to work with High Roller to expand access to specialized clinicians and evidence-based resources, supporting healthier outcomes for players and more effective responsible gambling frameworks,” said Daniel Umfleet, Founder & CEO of Kindbridge Behavioral Health.
Seth Young, who currently serves as Chief Executive Officer of High Roller, is a current shareholder, member of the Board of Advisors, and former member of the Board of Directors at Kindbridge.
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Brightstar Lottery PLC
Brightstar Lottery Delivers Industry-Leading Sales Force Automation Solution to Ontario Lottery and Gaming Corporation
Brightstar Lottery PLC announced that it has deployed its Sales Wizard salesforce automation tool to the Ontario Lottery and Gaming Corporation (OLG). Brightstar’s powerful, cloud-based Sales Wizard easily integrates with OLG’s central system and equips sales representatives with actionable insights and compelling data to identify lottery retail opportunities and make every retail visit more effective.
“Brightstar’s Sales Wizard is enabling OLG’s sales force with digital access to actionable data while unlocking operational efficiencies so that our sales representatives can make the best use of every retail visit. Sales Wizard is highly configurable so OLG can leverage this product in a variety of ways to meet our evolving business needs,” said Vanessa Theoret, OLG Sr. Director Retail Sales & Account Management.
“OLG joins 24 other lotteries in using Brightstar’s Sales Wizard to help responsibly grow sales. Sales Wizard was designed to be a flexible, convenient tool for lottery sales representatives to work strategically with retailers, providing data, reports, and insights to understand sales trends and optimize as needed,” said Scott Gunn, Brightstar Chief Operating Officer North America Lottery.
Sales Wizard is the industry-leading sales force automation tool that provides sales teams with timely, relevant information and is available in user-friendly mobile apps for greater efficiency in the field. Currently supporting more than 148,000 retailers globally, Sales Wizard provides data and insights on sales, instant ticket inventory, instant ticket facings, point-of-sale equipment and signage, and much more.
Brightstar serves nearly 90 lottery customers and their players on six continents.
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Canada
ComeOn Launches New Marketing Campaign in Ontario
ComeOn Group has launched its new marketing campaign in Ontario. The campaign underscores ComeOn Group’s long-term commitment to sustainable expansion – powered by ComeOn’s proprietary technology and a clear focus on delivering standout, personalized entertainment experiences at scale.
Since entering Ontario in 2022 with its licensed online casino offering, ComeOn Group has steadily built its presence in one of North America’s most competitive regulated markets. In late 2024, the Group reached a major strategic milestone with the launch of its full proprietary sportsbook in the province, expanding its product portfolio and strengthening its position as a full-suite iGaming operator.
The addition of sportsbook enables ComeOn to offer both casino and sports betting within a unified entertainment ecosystem. This expansion aligns with the Group’s broader global strategy to accelerate sportsbook growth, leveraging its in-house platform, trading capabilities, and risk management expertise to scale efficiently across regulated jurisdictions.
To support this next phase of growth in Ontario, ComeOn Group has shifted to an independent media planning model, activating a bold, high-frequency presence across Linear TV, Connected TV (CTV), and Digital channels. This approach reflects the Group’s product-led philosophy- pairing increased brand visibility with a seamless, personalized player journey powered by a robust, in-house technology stack built for performance and scale.
At the centre of the campaign is a series of premium television commercials starring Jeremy Piven, a long-standing ComeOn brand ambassador. Piven’s high-energy presence and authentic connection to sports reinforce the brand’s entertainment-first positioning, bringing ComeOn’s sportsbook experience to life across TV and digital. Produced by ComeOn Group’s internal creative hub, the campaign provides a cohesive creative platform that clearly differentiates the brand in a crowded market.
Efi Peleg, Chief Commercial Officer at ComeOn Group, said: “Ontario is a critical and highly competitive market for us. By shifting to independent media planning and activating a true 360-degree marketing mix, we’re not just increasing awareness – we’re demonstrating the strength of our proprietary platform and our ability to deliver a superior, personalised player experience. Our headline campaign, led by Jeremy Piven, brings our entertainment-first proposition to life and reflects our broader strategy of driving sustainable growth in key regulated markets through differentiated products and data-driven execution.”
The post ComeOn Launches New Marketing Campaign in Ontario appeared first on Americas iGaming & Sports Betting News.
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