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Rivalry Pre-Announces Record Third Quarter Betting Handle & Revenue Driven by Esports Betting

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Record Betting Handle and Revenue Driven by Esports Betting, Growth in Casino Experiences, and Leading Brand Position Among Next Generation Consumers

  • Record betting handle of $70.3 million in Q3 2022, up 203% year-over-year, and 83% quarter-over-quarter.

  • Record revenue of $7.1 million in Q3 2022, up 93% year-over-year, and 35% quarter-over-quarter.

  • With 82% of active users at Rivalry under the age of 30-years old, the Company continues to extend its brand leadership position as the betting destination for the next generation.

  • Management to provide further details on growth strategy and opportunities at first-ever Virtual Investor Day.

Rivalry Corp., an internationally regulated sports betting and media company, today announced preliminary betting handle and revenue for the three month period ended September 30, 2022. The Company will discuss its financial performance and overall growth strategy at its first-ever Investor Day to be held today at 10:00 am EDT. All dollar figures are quoted in Canadian dollars.

Third Quarter 2022 Preliminary Results

  • Betting handle was $70.3 million in the third quarter of 2022, representing a new all-time high for the Company. Handle increased by 203% year-over-year from $23.2 million in Q3 2021, and by 83% sequentially compared to $38.4 million in Q2 2022.

  • Revenue was $7.1 million in Q3 2022, also a record high for Rivalry. Revenue grew by 93% year-over year from $3.7 million in Q3 2021, and by 35% sequentially from $5.3 million in Q2 2022.

  • With 82% of active users at Rivalry under the age of 30-years old, the Company continues to successfully leverage brand equity, consumer engagement, and original casino IP development to extend its leadership position as the betting destination for the next generation, demonstrated by over 90% of sportsbook handle being driven by esports in the quarter.

The Company expects to announce complete results for the third quarter of 2022 by the end of November.

“The significant year-over-year and sequential growth we delivered is a testament to our market leadership in next generation sports betting and casino,” said Steven Salz, Co-Founder and CEO of Rivalry. “Our customer base demonstrates our ability to engage a highly sought-after audience of Gen Z and Millennials in global markets, and further validates our overarching player acquisition and brand strategy.”

Mr. Salz added, “We are very well positioned for a strong finish to 2022 and continued momentum into next year. We expect to benefit from a number of near-term catalysts, including several major esports events, a growing presence in traditional sports betting, the launch of a mobile app, and the ongoing introduction of new casino games, media content, and influencer partnerships.”

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St8 launches in Ontario through partnership with Tonybet

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Casino games aggregator and full-service technology provider, St8 has officially gone live in Ontario’s regulated market through a new partnership with international brand Tonybet.

Through the partnership, Tonybet gains access to St8’s casino games aggregation platform, offering a wide range of premium titles from leading providers through a single API, alongside bonusing and promotional tools, compliance and licensing solutions, advanced reporting and data capabilities.

Built as a single scalable platform, St8’s products are designed to help operators launch and grow across regulated markets with fast, flexible technology solutions while maintaining full compliance.

The agreement marks a further step in St8’s global growth strategy as the company continues to expand its presence across regulated jurisdictions.

Vladimir Negine, CEO at St8, said: “Going live in Ontario is an important milestone for St8 and reflects our continued commitment to growth in regulated markets. Since receiving our Ontario licence, we have focused on building strong local partnerships and delivering a platform that combines scalability, speed and compliance.

“As a respected international brand, Tonybet shares our commitment to building reliable solutions for regulated markets, and we look forward to working closely together as we continue to expand our presence in regulated jurisdictions worldwide.”

Kiryl Liudvikevich, Head of Product at Tonybet, added: “As we expand our presence in Ontario, it is important for us to work with technology partners that support continued growth while meeting the highest regulatory standards.

“St8’s platform gives us the flexibility to integrate a wide range of content and tools through a single connection, helping us scale smoothly while maintaining a strong focus on player experience.”

St8 continues to lead the way as a partner of choice for regulated markets. In addition to its Ontario licence, the company holds licences in key regulated jurisdictions like the United Kingdom, Sweden and Romania, among others.

The post St8 launches in Ontario through partnership with Tonybet appeared first on Americas iGaming & Sports Betting News.

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Rivalry Corp. Announces Significant Reduction in Operations and Evaluation of Strategic Alternatives

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Rivalry Corp. announced that its Board of Directors has approved a significant reduction in operating activity as the Company evaluates strategic alternatives in respect of its assets and operations.

The Company is engaged in discussions with third parties regarding potential transactions. However, in light of recent performance volatility, the Board has determined to materially reduce the scale of operations while assessing whether a strategic transaction or other alternative can be advanced.

Effective immediately, the Company is implementing substantial cost reductions, including a significant workforce reduction and reduced operating expenditures. The Company has paused player activity on its platform and is facilitating player withdrawals in the ordinary course.

The Company is assessing a range of potential alternatives, which may include asset-level transactions, corporate transactions, restructuring initiatives or other strategic outcomes.

Given the Company’s reduced operating scale and the ongoing evaluation process, there can be no assurance that any strategic alternative will be completed or that operations will continue in their current form.

The post Rivalry Corp. Announces Significant Reduction in Operations and Evaluation of Strategic Alternatives appeared first on Americas iGaming & Sports Betting News.

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Alex Malchenko

Evoplay Strengthens Canadian Presence with BetMGM Partnership

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Evoplay is celebrating another milestone in its regulated-market journey with a new launch in Ontario, teaming up with BetMGM to bring its games to one of Canada’s most dynamic and competitive jurisdictions.

The rollout introduces 18 Evoplay titles to BetMGM Casino in Ontario, carefully selected to deliver long-term engagement and appeal to a wide range of player preferences. The first wave includes proven performers such as:

• Hot Triple Sevens

• Hot Volcano

• Gold of Sirens Bonus Buy

• Inner Fire Bonus Buy.

These are games that have already demonstrated strong results across multiple regulated markets.

This launch marks another confident step in Evoplay’s Canadian expansion, reinforcing the company’s commitment to aligning its content with local market requirements, player expectations, and regulatory standards.

Alex Malchenko, Head of Sales at Evoplay, said: Ontario continues to set a high standard for regulated online casinos, making it a market where the right partnerships truly matter. Collaborating with BetMGM allows us to expand our reach with a portfolio that has already performed strongly across multiple areas and territories.

Oliver Bartlett, VP of Gaming at BetMGM, said: “Partnering with Evoplay adds a strong selection of proven, high-performing titles to our growing portfolio in Ontario.”

The post Evoplay Strengthens Canadian Presence with BetMGM Partnership appeared first on Americas iGaming & Sports Betting News.

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