Connect with us
Prague Gaming & TECH Summit 2024


Rivalry Issues 2023 Business Update




Rivalry Corp., an internationally regulated sports betting, media, and technology company, today issued a letter to shareholders summarizing recent progress and outlining strategic priorities for 2023. The full text of the letter follows. All dollar figures are quoted in Canadian dollars.

Rivalry Corp. 2023 Business Update

To our Shareholders,

Rivalry experienced a breakout year in 2022, with exceedingly strong performance across the business.The early indicators of sustainable and profitable growth that we demonstrated in October are a positive sign of what’s to come as the business continues to execute its strategic priorities. Having achieved record results every quarter, we believe the prospects for our business are as strong as ever as we kick off 2023.


In 2022 we delivered triple-digit year-over-year growth in both revenue and betting handle, with average month-over-month revenue growth accelerating to 32% through the first 10 months of the year. At the same time, we reduced bonus/promotional spend relative to revenue by over 50% year-over-year, and achieved our first-ever profitable month in October. These results were underpinned by greater product diversification that reduced the impact of seasonality. We’re proud to have finished the year strong and look forward to reporting our full Q4 results.

We have high expectations for 2023, and are confident that it will be another year of record achievements. This shareholder letter provides an update on our business, our place in the industry, and some of the things we’re excited about for Rivalry in 2023.

We are executing against a generational opportunity, and our vision remains clear:

  1. Become the leader in betting and entertainment globally for the next generation.

  2. Build the most engaged brand and portfolio of IP in esports betting (original games, content, creators, and more).

  3. Leverage our technology to innovate on product at every turn, creating a proprietary, interactive, and entertaining betting experience customers won’t find elsewhere.

With an ever-evolving gaming industry and a product suite still in the early stages of fulfilling our vision, we see a huge amount of market opportunity as we continue to trailblaze in this category. We are eager to continue executing on our strategy with financial discipline and scaling purposefully toward profitability.

2022 highlights

We’re proud of our 2022 accomplishments, including:

  • Delivering significant growth, including year-to-date betting handle increasing 181% YoY to $186 million, and revenue increasing 130% YoY to $21.7 million in Q3 2022.2

  • Continued to build upon the most engaged esports betting brand globally.

  • Demonstrating our market leadership in esports betting with 90% of sportsbook handle driven by esports.

  • Increasing market share ownership of Millennial and Gen Z consumers, represented by 82% of our active user base being under 30-years old, and an average customer age of 25, approximately a decade younger than legacy sportsbooks.

  • Expanding our esports betting product, including the introduction of mobile game titles in March, which has already contributed a meaningful amount of betting handle and strong signs it will carry its momentum throughout 2023.

  • Successful expansion into a new product category with the launch of Casino.exe, our proprietary casino interface, which drove immediate impact, contributing 30% of betting handle and 15% of revenue in Q3 2022 with minimal marketing efforts.

  • Launching in two new regulated markets: the province of Ontario, Canada, and Australia.

  • Best-in-class creative execution, leveraging 100+ brand partners in more than a dozen markets and 20+ owned social media channels to deepen brand awareness and engagement among our target audience, while enhancing customer acquisition and retention.

Notably, these results and signals of sustainable growth are all organic, driven by an overarching strategy that prioritizes great consumer products and brand engagement over flash-in-the-pan trends and promotional spend.

Rivalry’s growing role in betting, esports, and entertainment

Rivalry has created a truly differentiated position within the betting industry that we believe will make a meaningful impact on our financial performance as we scale the business.

The global sports betting industry eclipsed $83 billion in 2022 and is set to grow at a CAGR of 10.2%. Meanwhile, the $197 billion global video game industry is experiencing similar growth with an expected CAGR of 12.9% and expanded generational significance, seeing 87% of Gen Z playing video games weekly among a larger population of 3.1 billion gamers globally. It is at this valuable intersection where Rivalry lives.

Our approach toward attracting the next generation of consumers is different from legacy operators. We scale through word of mouth and organic market entrenchment of brand equity that allows us to operate without a dependency on excess bonusing and player subsidies. This approach helped drive a 50% reduction year-over-year in bonus/promotional spend relative to our revenue, supporting our below-market cost of customer acquisition and further reducing our reliance on linear net new spend for growth. This is continuing to create the operating leverage that has set Rivalry on a path toward profitability.


Gaming and internet culture guides this successful player acquisition strategy, and allows us to engage with a deeply valuable and nuanced demographic of users that legacy operators aren’t equipped to serve. There is tremendous value gained by participating in these communities and cultures, building lasting brand affinity among gaming fans who are quickly emerging as the consumer economy of the future, and similarly by attaching ourselves to the pervasiveness and virality of the internet.

In a world where live-service games are the standard and long-term player engagement is the new benchmark for success, Rivalry is poised to play a prominent role in the future of esports. Betting activity translates into the enhanced viewership, engagement, and economics that are directly aligned with the KPIs of esports and gaming stakeholders, and those represent significant long-term tailwinds for our business.

We believe an intimate understanding of these audiences and cultures will shape the next generation of great consumer products. It is with this understanding that Rivalry is able to tap into a global gaming audience and drive betting activity among the 532 million esports viewers worldwide.

We will continue making strategic and measured investments in key areas of the business that we believe set the stage for further growth in 2023, and beyond, with objectives that should ensure our current momentum toward profitability remains intact. Some of the initiatives we expect to drive continued growth in 2023 include:

  • Expanding our esports offering with new titles and markets to deepen our core product and attract new customers.

  • Continued evolution of our proprietary Casino.exe platform and release of additional in-house developed and third-party games that cater to our core demographic and further establish a gaming experience unique to Rivalry.

  • Launch of a mobile app in our regulated markets to increase accessibility of our product.

  • Geographic expansion to increase our addressable market and customer base.

  • Expanded content and creator partner program to deepen our ability to reach and engage customers, solidifying Rivalry’s leadership position in the esports betting industry.

  • Continuing to grow our investor base through proactive capital markets outreach.

These initiatives are designed to advance us toward consistent profitability, through measurable outcomes including:

  • Increased product depth and diversity creates greater margin stability and reduces seasonality while increasing average customer spend.

  • Increased TAM through new market launches builds greater intrinsic value capture for Rivalry, and thus upside for our investor base.

  • Enhanced brand engagement cultivates a dedicated customer base, which organically improves retention and lowers cost of customer acquisition.

I’m extremely proud of the differentiated approach Rivalry has taken from day one and what it has enabled us to achieve, creating a truly distinct product and brand that is driving operating leverage and  bearing fruit across the business. As we move into 2023, we’re eager to continue demonstrating the same operational excellence which has enabled us to stand out in a deeply competitive industry.

With that, I wish everyone a happy, successful, and healthy year.

Steven Salz

Co-Founder & CEO

Rivalry Corp.


Powered by WPeMatico

Continue Reading


Great Canadian Entertainment Appoints Pauline Alimchandani as CFO





Great Canadian Entertainment has announced that it has appointed Pauline Alimchandani as Chief Financial Officer, effective March 31, 2024, subject to customary regulatory approvals. At that time current CFO Darren Gwozd will step down from the role. Ms. Alimchandani will be responsible for overseeing the Company’s finance organization.

“I am delighted to welcome Pauline to our exceptional senior management team. Her extensive public company experience and deep record of successful leadership roles in finance, capital markets and financial reporting, will be immensely valuable as we continue to remain focused on delivering long-term growth and creating value for our stakeholders in a socially responsible way. I look forward to her contributions,” Matthew Anfinson, Chief Executive Officer of Great Canadian, said.

“Darren has been a valuable member of our Finance team for more than six years and has helped lead our organization through a transformational period. On behalf of the Board of Directors, the senior management team, and Great Canadian’s team members, we want to thank Darren for his many years of leadership,” Mr. Anfinson added.

“I am very excited to join Great Canadian and see significant opportunity to build upon the Company’s strong financial and operational foundation, while developing capabilities that further establish the Company’s competitive advantage,” Ms. Alimchandani said.


Prior to joining Great Canadian, Ms. Alimchandani was Chief Financial Officer for Northland Power, where she oversaw a large global team across several key functions and chaired the organization’s Investment Committee. Ms. Alimchandani has over 18 years of professional experience, previously having served in roles that included Executive Vice President and Chief Financial Officer of Dream Unlimited Corp, Vice President, Corporate Strategy at Dream, and Vice President, Equity Research at BMO Capital Markets. In 2020, she was awarded one of Canada’s 50 Best Executives by the Report on Business/Globe and Mail and in 2022, she was awarded Canada’s Clean 50, which is noted as being Canada’s top sustainability award.

Continue Reading

Alex Pratt

Clarion Gaming Digital Expands North American Reach with Global Gaming Business Acquisition





iGaming Business (iGB) parent company Clarion Gaming Digital has acquired Global Gaming Business (GGB) as it accelerates its growth strategy across North America.

The purchase includes GGB magazine’s annual publications Casino Style, Tribal Government Gaming and Progressive Products Preview (P3) as well as its online assets including GGB News.

It will extend the digital publishing business’ global reach as the North American market enters a crucial phase, providing clients with access to a significantly bigger audience through its range of marketing services products.

Founded in 2002, GGB is trusted title with a reach beyond sports betting and iGaming into commercial and tribal gaming. It bolsters Clarion Gaming Digital’s ability to provide a comprehensive range of news, analysis and data to every sector of the industry.


The acquisition is a cornerstone of a wider multimillion pound investment to enhance Clarion Gaming Digital’s data and audience development.

“This is a major milestone for our digital business as we unlock the benefits of our investment,” the Managing Director for Clarion Gaming, Alex Pratt, said. “We are acquiring a business with deep industry heritage and with it the opportunity to build on its solid foundations in the United States.”

The B2B Global Content Director for Clarion Gaming Digital, Robin Harrison, said the acquisition came amid changes to state regulations as well as new land-based and online developments across the United States and Canada.

“We are delighted to seal this deal, which brings in new industry expertise to the team, expands our reach and consolidates our presence in a crucial region,” Harrison said. “We will build an offering that acts as the final word on key industry developments and GGB’s authority and relationships takes us a step closer to that goal.”

“We have had lengthy discussions with Clarion Gaming Digital in recent years and believe it shares our passion and vision for serving our readership in a way that will maintain the quality of the publications for decades to come,” the publisher and Chief Executive Officer for Casino Connection International LLC, the parent of GGB, Roger Gros, said. “As the gaming industry continues to grow in many different ways, our relationship with Clarion will make certain that our pivotal role in the industry remains unchanged and we can continue our important work going forward.”


Clarion Gaming Digital plans to further accelerate its North American expansion by leveraging unique partnerships on offer through the wider Clarion Events portfolio such as the DigitalPlay Summit at the Indian Gaming Tradeshow and Convention over April 10 to 11.

Continue Reading


ReactivAction Limited Partners with Fast Track to Underpin Growth Strategy, Starting with the Brazilian Market





ReactivAction Limited, an ambitious new player in the iGaming industry offering online casino games and sports betting, has gone live with Fast Track, marking a strategic move to cement a stronghold across multiple markets, starting with Brazil.

This partnership not only marks a dynamic alliance but also a ground-breaking integration of Fast Track with Altenar’s renowned player account management (PAM) platform. This innovative collaboration highlights Fast Track’s exceptional ability to seamlessly integrate with various leading iGaming systems, further cementing its position as the industry’s most versatile and adaptable CRM solution provider.

With plans to expand beyond Brazil into Canada, New Zealand and Ireland through a second brand, ReactivAction Limited was on the lookout for a long-term partner that not only understands its growth trajectory but is also a critical driving force behind its growth. By leveraging Fast Track’s state-of-the-art AI-driven tools, lifecycle automation and real-time data analytics, ReactivAction Limited is poised to elevate its player engagement and retention strategies. This advanced technology empowers ReactivAction Limited to customize communications, personalised promotions and bonuses, aligning them with individual preferences and behaviours for a more tailored and engaging gaming experience.

“We were looking for a platform that sets us up for success from day one, making it possible to execute and automate the entire retention strategy, a system that could scale and mould around our expansion and provide solutions to our unique challenges,” the Director for ReactivAction Limited, Leone Stranges, said. “Fast Track’s lifecycle templates, real-time capabilities and experience within the industry made it a straightforward choice.”


“We are always excited at the prospect of empowering a forward-thinking operator through our platform,” the founder and Chief Executive Officer for Fast Track, Simon Lidzen, said. “We look forward to a fruitful long-term relationship to support ReactivAction Limited’s growth trajectory as it expands its brand into new markets.”

Continue Reading


Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania