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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AGLC
Casino ATM Scam in Edmonton Reveals Money Laundering and Drug Links

Law enforcement in Alberta continues to search for the last suspect in a sophisticated fraud operation that targeted ATMs in Edmonton-area casinos and resulted in over CAD 1 million ($720,487) in losses throughout Western Canada.
The Royal Canadian Mounted Police (RCMP) has confirmed that Hisham Ismaeel, 28, remains at large with a province-wide warrant for his arrest. He faces charges of fraud exceeding $5000 and possessing proceeds of crime. Police have already arrested four other men linked to the scheme. Investigators describe the operation as a well-planned effort to exploit financial systems and clean dirty money.
The accused, Elliot Miao, 42, Van Bau Ta, 39, Hassan Jaafar Haydar Ahmad, 37, and Dennis Jones, 42, showed up in the Alberta Court of Justice last week. They face charges from fraud and money laundering to owning criminal property. Miao also has a narcotics trafficking charge after police found cocaine when they searched with warrants.
Investigators claim the group made coordinated withdrawals at several casino ATMs, timing their transactions to avoid getting caught. This action messed up ATM networks in the area and showed flaws in the systems that banks and casinos use to stop misuse.
The RCMP Federal Policing Northwest Region led an investigation that involved six search warrants in Edmonton. The Edmonton Police Service, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Alberta Gaming, Liquor and Cannabis (AGLC), and several banks supported this effort. Officials said the case shows how teamwork between public agencies and the private sector plays a key role in combating modern financial crime.
AGLC representatives pointed out that casino operators in the province must follow strict reporting and surveillance rules under Canada’s anti-money laundering laws. The specific casinos affected remain unnamed, but the Edmonton region has seven licensed facilities. AGLC said its policies helped spot problems and backed the RCMP’s investigation.
Compliance experts say this fraud shows how criminals change their methods to take advantage of weak spots in reporting limits and transaction checks. They claim that casinos, which deal with lots of cash, are still easy targets unless they keep improving their detection systems and teach their front-line workers to notice coordinated actions like several big withdrawals happening one after another.
For now, the case highlights both the money and crime aspects of casino-related fraud. Besides the million-dollar losses, finding drugs during the raids points to a bigger criminal operation where financial crimes and drug dealing overlap.
The post Casino ATM Scam in Edmonton Reveals Money Laundering and Drug Links appeared first on Gaming and Gambling Industry in the Americas.
Bragg Gaming
Bragg Confirms Cyber Attack – Hackers Access Internal IT Systems

Bragg Gaming Group, a leading online gaming technology provider, has confirmed a major cybersecurity incident that compromised its internal IT infrastructure in the early hours of Saturday, August 16, 2025.
The company detected unauthorized intrusion attempts that successfully breached its internal network, triggering an immediate and comprehensive incident response.
Key Takeaways
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Bragg Gaming Group experienced a cybersecurity breach involving access to internal IT systems.
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No customer personal data or payment information appears to have been compromised.
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The company has enacted full containment and investigation protocols.
Details of the Breach
According to a preliminary forensic analysis by Bragg’s internal security team, the attack was a targeted breach aimed at the company’s internal computer environment. While the exact method of intrusion is still under investigation, early indicators suggest a sophisticated exploit of internal network vulnerabilities.
Fortunately, the company’s customer-facing systems, including sensitive user data and financial information, appear to have been unaffected. Bragg’s existing encryption protocols and access control systems successfully prevented the attackers from accessing customer information.
Immediate Response Measures
In response to the breach, Bragg launched a multi-tiered containment strategy, including:
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Network Segmentation to isolate affected systems
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Enhanced Monitoring of data flows across its Remote Games Server (RGS) platform
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Security Audits of critical infrastructure, including the Bragg Hub and PAM systems
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Engagement of Independent Cybersecurity Experts to assist in incident analysis and system hardening
Bragg’s Security Operations Center has also elevated its alert level, initiating 24/7 monitoring across all server clusters and network endpoints. In addition, company-wide penetration testing is now underway to proactively identify any residual vulnerabilities.
Business Continuity Maintained
Despite the severity of the breach, Bragg reports that its operations remain unaffected. All gaming services, including iCasino and sportsbook offerings across regulated markets, continue to function without disruption.
“While this incident is deeply concerning, we are confident in the rapid and thorough response initiated by our team,” a company spokesperson stated. “We remain committed to protecting our infrastructure, our partners, and most importantly, our players.”
Looking Ahead
As part of its response, Bragg has also launched mandatory security awareness training for all employees to reinforce best practices and prevent future incidents.
Cybersecurity analysts will continue working with Bragg to determine the full scope of the attack, improve system resilience, and maintain the trust of its users and stakeholders.
Bragg’s handling of the incident highlights both the evolving nature of cybersecurity threats and the importance of robust, responsive defense systems in the digital gaming sector.
Source: cybersecuritynews.com
The post Bragg Confirms Cyber Attack – Hackers Access Internal IT Systems appeared first on Gaming and Gambling Industry in the Americas.
AGCO
AGCO Removes Cap on Seller Commission for Charitable Lottery Products

The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.
Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.
These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.
Important Reminders
• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.
• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.
• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.
• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.
For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.
The post AGCO Removes Cap on Seller Commission for Charitable Lottery Products appeared first on Gaming and Gambling Industry in the Americas.
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