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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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Peter & Sons Expands Ontario Footprint with Major Casino Time Content Deal

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Peter & Sons, the innovative iGaming studio known for its signature artistic flair, has secured a landmark content agreement with Casino Time, a leading homegrown operator in Ontario.

Delivered through Light & Wonder’s premier aggregation platform, the partnership brings Peter & Sons’ library of indie-inspired titles to CasinoTime.ca. This move aligns with Casino Time’s strategy to consolidate its market-leading position as it expands its offerings from slots, live casino, and bingo into a soon-to-launch sportsbook.

Pushing Boundaries in the Ontario Market

Ontario has rapidly evolved into one of the most dynamic and regulated iGaming jurisdictions in North America. Through this deal, local players gain access to Peter & Sons’ most successful recent launches and seasonal hits:

  • Barbarossa Dragon Empire: The high-stakes third installment in the studio’s flagship franchise. This Asian-themed sequel features the “Multiplier Cannon” and a massive 40,000x win potential.

  • Zombie Road: A post-apocalyptic adventure on a 5×3 grid with 243 ways to win, featuring cascading reels and persistent multipliers that can reach 20,000x.

  • Bad Santa: A subversive, gothic-horror take on the holiday season, utilizing a Scatter Pays system and “Multiplier Jumps” for a high-volatility experience.

A Shared Vision for High-Art Gaming

Peter & Sons has carved out a unique niche in the industry by blending meticulous game mechanics with world-class art and storytelling. Partnering with Casino Time—an operator celebrated for its Canadian heritage and focus on premium player experiences—marks a significant milestone for the studio’s 2026 roadmap.

“Ontario has long been a major focus for us, and partnering with Casino Time marks an exciting milestone for our expansion,” said Yann Bautista, Founder and Commercial Director at Peter & Sons. “Their commitment to top-tier entertainment aligns perfectly with our bold vision.”

Jeffrey Holmes, COO of Casino Time, added: “We are thrilled to partner with Peter & Sons. Their distinctive artistic style and highly engaging gameplay represent a major step in expanding the premium entertainment we offer to our players.”

The post Peter & Sons Expands Ontario Footprint with Major Casino Time Content Deal appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Peter & Sons Bolsters Ontario Presence with Landmark Casino Time Content Agreement

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Innovative iGaming studio Peter & Sons is set to enhance its position in Ontario after signing a landmark content agreement with Casino Time, one of the region’s most respected operators.

The agreement, delivered in collaboration with Light & Wonder, represents a natural move for either party, with the operator’s flagship site CasinoTime.ca offering a broad selection of casino games including slots, live casino, and bingo. There are also plans afoot for a Casino Time-powered sportsbook as the site looks to consolidate its market-leading position and diversify its content offering.

Ontario has fast emerged as one of North America’s most dynamic, progressive iGaming regions. The state’s players can now enjoy a range of Peter & Sons fan favorites including the recent flagship launch Barbarossa Dragon Empire – the third installment in the popular series – along with seasonal offering Bad Santa and the undead antics of Zombie Road.

Renowned for its catalogue of indie-inspired creations, offbeat characters, and meticulously crafted game worlds, Peter & Sons continues to push boundaries in slot design and entertainment. By joining forces with Casino Time – a platform celebrated for its proud Canadian heritage and commitment to delivering superior experiences – the studio looks forward to building a long-term, mutually beneficial relationship.

Yann Bautista, Peter & Sons Founder and Commercial Director, said: “Ontario has long been a major focus for us, and partnering up with Casino Time marks an exciting milestone for our expansion in the region. Their commitment to delivering top-tier entertainment aligns perfectly with our bold vision, and we’re looking forward to sharing some of our most beloved titles with the Casino Time’s audience.”

Jeffrey Holmes, Chief Operating Officer  of Casino Time added: “We are thrilled to partner with Peter & Sons, a studio renowned for its distinctive artistic style and highly engaging gameplay. As we continue to cement our leading position in the Ontario market, this agreement represents a major step in expanding the premium entertainment we offer to players.”

The post Peter & Sons Bolsters Ontario Presence with Landmark Casino Time Content Agreement appeared first on Americas iGaming & Sports Betting News.

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Group from Ts’elxwéyeqw Tribe and Great Canadian Entertainment Announce Agreement for the Acquisition of Elements Casino Chilliwack

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Great Canadian Entertainment and a consortium group of certain communities from the Ts’elxwéyeqw Tribe, through an entity affiliated with Ts’elxwéyeqw Tribe Management Ltd. (the “Ts’elxwéyeqw Group”), announced that on November 7th, 2025, they entered into a definitive agreement for the purchase by the Ts’elxwéyeqw Group from Great Canadian Entertainment of Elements Casino Chilliwack, one of the premier gaming and entertainment destinations in the Fraser Valley region of British Columbia.

The Ts’elxwéyeqw Tribe constitute seven First Nation communities and are the First People of the Chilliwack River watershed. The transaction represents a transformational milestone for the communities within the Ts’elxwéyeqw Group.

Elements Casino Chilliwack serves guests across the Fraser Valley and is Chilliwack’s top destination for gaming and entertainment, featuring over 300 slots, live and electronic table games, bingo, dining, live entertainment and more.

The closing of the transaction remains subject to customary closing conditions and the receipt of regulatory and other approvals. Under the terms of the definitive agreement, Great Canadian Entertainment will continue to provide transitional services and support to the Ts’elxwéyeqw Group for a period following closing.

“This purchase marks an exciting milestone for our Nations and for the entire territory. By coming together in partnership, we are not only investing in a strong business opportunity, but also in the future of our people. The revenues generated through this acquisition will help strengthen our communities, create new opportunities, and ensure our Nations continue to play a leading role in the local economy. Additionally, we believe that local community-based ownership of Elements Casino Chilliwack will further strengthen the broader Fraser Valley community and economy. It’s a proud moment that reflects how Indigenous leadership and collaboration can build a stronger, more inclusive future for everyone,” said Chief David Jimmie, Chief of Squiala First Nation and President of Ts’elxwéyeqw Tribe Management Ltd.

“We are very excited to have entered into this agreement with the Ts’elxwéyeqw Group. We have had the privilege of being part of the Chilliwack community since we opened Elements Casino Chilliwack in 2012, and we believe that under the Ts’elxwéyeqw Group’s stewardship, the business will begin an exciting new chapter. For the team members and guests of Elements Casino Chilliwack, and the local community, we can think of no better owner for the business. We look forward to the closing and then working with the Ts’elxwéyeqw Group team during the transition period,” said Matt Anfinson, CEO of Great Canadian Entertainment.

McCarthy Tétrault LLP is acting as legal advisor and KPMG Corporate Finance Inc. is acting as financial advisor to the Ts’elxwéyeqw Group. McMillan LLP is acting as legal advisor to Great Canadian Entertainment.

The post Group from Ts’elxwéyeqw Tribe and Great Canadian Entertainment Announce Agreement for the Acquisition of Elements Casino Chilliwack appeared first on Americas iGaming & Sports Betting News.

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