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Rivalry Announces Record Second Quarter 2022 Results

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports betting and entertainment company, today announced its financial results for the three and six-month periods ended June 30, 2022. All dollar figures are quoted in Canadian dollars.

“We are very encouraged by our performance in Q2, putting up significant year-over-year growth across all core metrics, and sequential growth on a number as well, despite what is a seasonally quiet quarter in the esports calendar,” said Steven Salz, Co-Founder and CEO of Rivalry. “And thus far, our momentum in the third quarter is continuing this growth trajectory, including hitting another all-time record for betting handle in a single month, delivering $23.4 million in July. With a number of impactful product releases, marketing, and operational initiatives slated through the rest of year, we are hungry to demonstrate to the market the inherent operating leverage in our model.”

Second Quarter 2022 Highlights

  • Betting handle1 was $38.4 million in Q2 2022, a year-over-year increase of 98% compared to $19.4 million in Q2 2021, and down 4% sequentially from the record high of $40.2 million in Q1 2022, as Q2 is a seasonally slower quarter.
  • Revenue was a record $5.3 million in the second quarter, a year-over-year increase of 60% from $3.3 million in Q2 2021, and represented the Company’s highest-ever revenue in any quarter. Revenue was up 11% sequentially from $4.8 million in Q1 2022.
  • Gross profit was a record $2.1 million in the second quarter, a year-over-year increase of $1.4 million or 206% from $0.7 million in Q2 2021, and up 201% sequentially from $0.7 million in Q1 2022.
  • The Company had $27.8 million of cash and no debt as at June 30, 2022.2
  • The Company commenced gaming operations in Ontario on April 4, 2022, the first day of regulated online gaming in the province.
  • The Company announced the launch of gaming operations in Australia on May 9, 2022.

________________________
2
Includes cash and cash equivalents of $24.1 million and restricted cash of $3.7 million.

“The strength in the business in the second quarter was all achieved organically and driven by our existing core markets. Launching in our first two regulated markets was a very important milestone in Q2 that will help drive growth in the coming quarters as we establish our brand with consumers, deploying our ‘crawl, walk, run’ strategy that prioritizes operating with sustainable unit economics in new markets first, and scaling spend thereafter,” Salz added. “We were very encouraged with our Q2 performance considering that we did not see a material contribution from either of these markets yet, and during what is already a seasonally quiet quarter. On the other side we were proud to demonstrate the profitability potential of our current betting handle, posting record gross profit during the quarter.”

“Looking ahead, we are excited about the second half of the year,” Salz added. “The traditionally strong third quarter is tracking well for us. Several important platform enhancements in areas like mobile app, traditional sports offering, and our casino vertical are set to be launched in the coming months.”

Investor Conference Call

Management will host a conference call at 10:00 a.m. EDT on Thursday, August 25, 2022 to discuss the Company’s second quarter 2022 financial results.

Dial-in: 888-396-8049 (toll free) or (+1) 416-764-8646 (local or international calls)
Webcast: A live webcast can be accessed from the Events section of the Company’s website at www.rivalrycorp.com or at this link.
A replay of the webcast will be archived on the Company’s website for one year.

Rivalry’s financial statements and management discussion and analysis for the period ended June 30, 2022 are available on SEDAR at www.sedar.com, and on the Company’s website at www.rivalrycorp.com.

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CasinoCanada announces partnership with Slota Casino

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CasinoCanada.com has entered into a partnership with Slota Casino aimed at increasing the platform’s visibility and directing traffic from non-regulated Canadian markets.

As part of the collaboration, CasinoCanada will prepare and publish informational materials describing Slota Casino’s features and game offerings.

The partnership includes ongoing content development, efforts to increase platform visibility and user acquisition activities across CasinoCanada’s media channels.

CasinoCanada is an online casino guide focused on the Canadian market, operated by SEOBROTHERS.

Eugene Ravdin, Head of PR at SEOBROTHERS, commented:

“We focus on delivering accurate information about the Slota Casino platform while maintaining consistent content updates and supporting steady traffic growth across our channels.”

Slota Casino was launched in 2024 by GBL Solutions N.V. under a Curacao licence.

Slota Casino is operated by the Slota Partners affiliate program.

The platform provides access to more than 12,000 online casino games from 130 providers, including Play’n GO, Endorphina and Games Global.

A representative of Slota Casino said:

“We’re genuinely excited about teaming up with CasinoCanada. This is a major step forward for us.

The Canadian market has enormous potential, and partnering with a portal as respected as CasinoCanada gives our brand the visibility and credibility it deserves in this region.”

The post CasinoCanada announces partnership with Slota Casino appeared first on Americas iGaming & Sports Betting News.

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Canada

Digicode to showcase Diger Suite at SBC Summit Canada 2026

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Digicode will showcase its Diger Suite at SBC Summit Canada, taking place in Toronto from May 19–21, 2026.

At the event, the company will highlight how its product suite addresses evolving technical and partnership demands in Canada’s regulated iGaming market.

As the market moves beyond initial entry and into a phase defined by performance, scalability, and compliance, operators are re-evaluating their technology foundations.

Digicode’s Diger Suite is built to support this shift, offering a modular architecture that enables faster adaptation to regulatory changes, improved system reliability, and more efficient operations.

Aligned with the summit’s 2026 theme, “Partnerships, Performance, and Market Reality,” Digicode will demonstrate how its technology supports sustainable growth.

The Diger Suite equips operators with tools to manage complex integrations, streamline localized payment processing, and ensure compliance with responsible gaming requirements.

Its AI-driven framework automates backend workflows while maintaining strict standards for security and uptime.

“The Canadian market has entered the phase of operational maturity where the focus is no longer on expansion alone but on improving efficiency and long-term profitability,” said Elkhan Shabanov, CEO of Digicode Americas.

Operators are looking for solutions that not only meet regulatory demands but also enable them to scale efficiently and maintain control over their platforms.”  

During the summit, Digicode’s team will engage with industry stakeholders on topics including AI adoption in product development, modernization of legacy systems, and the transition away from traditional SaaS and revenue-share models toward full platform ownership.

The company aims to help operators regain control of their technology stack, reduce dependency on third-party vendors, and build scalable, compliant solutions tailored to their business needs. 

About Digicode

Digicode is a full-cycle AI-enabled product development company that designs and delivers enterprise digital solutions for organizations in complex, regulated environments.

Digicode supports clients with enterprise systems, integrations, and long-term software development. The company operates internationally and prioritizes projects where ownership and technical responsibility remain with the client.

The post Digicode to showcase Diger Suite at SBC Summit Canada 2026 appeared first on Americas iGaming & Sports Betting News.

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Internet Vikings Expands Canadian Footprint into Alberta

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Internet Vikings, a licensed hosting provider for the North American iGaming and online sports betting industry, has announced that its hosting solutions are ready to launch in Alberta, Canada. Internet Vikings’ infrastructure and operational processes already align with the province’s expected requirements, meaning the company can help operators enter the Alberta market faster and with greater confidence.

The expansion comes following the release of updated hosting, infrastructure, and security requirements by the AGLC. As Alberta prepares to open its market, operators and suppliers are facing strict requirements around cybersecurity and disaster recovery.

Internet Vikings’ experience supporting regulated operators across North America positions the company to help businesses comply with these operational and regulatory requirements efficiently from day one.

Requirements include adherence to internationally recognized security standards such as SOC 2 and ISO 27001. In addition, operators are expected to maintain disaster recovery environments, encrypted immutable backups, and perform routine recovery testing to ensure business continuity.

“We are ready to provide the infrastructure and local expertise operators need to launch and scale successfully. We are already working with operators preparing for launch and understand the urgency involved in getting compliant infrastructure deployed quickly,” said Rickard Vikström, CEO and Founder of Internet Vikings.

Internet Vikings first established operations in Ontario in 2022 and is now expanding its Canadian footprint into Alberta with hosting solutions, including VMware cloud hosting, bare metal servers, bare metal GPU servers, disaster recovery, and backup solutions.

The post Internet Vikings Expands Canadian Footprint into Alberta appeared first on Americas iGaming & Sports Betting News.

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