Canada

Rivalry Announces Record Fourth Quarter, Year-End 2022, and All-Time High Quarterly Revenue In Preliminary Q1 2023 Results

Published

2 years ago

April 26, 2023

Rivalry Corp., an internationally regulated sports betting and media company, today announced its financial results for the three and 12-month periods ended December 31, 2022. The Company also announced preliminary results for the three-month period ended March 31, 2023. All dollar figures are quoted in Canadian dollars.

“Our market strategy and operational excellence continues to build upon consecutive record-setting quarters, driving a strong finish to the year and a robust Q1, while simultaneously demonstrating sequential narrowing losses on our path to profitability,” said Steven Salz, Co-Founder and CEO of Rivalry. “Underpinning our growth is significant brand loyalty among the Millennial and Gen Z audience and true product innovation in online betting, enabling every marketing dollar to go further, enhancing retention, and creating a distinctly unique platform. Rivalry continues to be economically rewarded for taking an inventive approach to the betting experience and tailoring it for a demographic with unique consumption habits.”

Full-Year 2022 Financial Highlights

Betting handle was $232.8 million in 2022, an increase of 198% compared to $78.2 million in 2021.
Revenue was a record $26.6 million in 2022, an increase of 140% from $11.0 million in 2021.
Gross profit was $9.8 million in 2022, an increase of $7.6 million or 349% from $2.2 million in 2021.
Net loss for the year was $31.1 million, compared to a net loss of $24.3 million in 2021. The 2022 net loss includes $8.2 million of share-based compensation expense, a non-cash item, compared to $10.5 million of share-based compensation expense in 2021.
The Company had $16.4 million of cash and no debt as at December 31, 2022.²

Fourth Quarter 2022 Financial Highlights

Betting handle was $83.9 million in Q4 2022, a year-over-year increase of 237% compared to $24.9 million in Q4 2021, and up 19% sequentially from the previous record quarterly handle of $70.3 million in Q3 2022.
Revenue was $9.4 million in Q4 2022, a year-over-year increase of 338% from $2.2 million in Q4 2021, and represented the Company’s highest-ever revenue up to that point. Revenue was up 32% sequentially from $7.1 million in Q3 2022.
Sportsbook revenue of $7.1 million in Q4 2022 was $1.0 million higher than in Q3 2022, driven by a very strong month in October. Gaming revenue of $2.3 million was up by $1.2 million or 119% over Q3 2022, as the Company began offering a wider set of casino games on its Casino.exe platform.
Gross profit was $5.0 million in Q4 2022, a year-over-year increase of $4.6 million from $0.4 million in Q4 2021, and up 139% sequentially from $2.1 million in Q3 2022.
Net loss for Q4 2022 was $12.3 million. The net loss included $6.4 million of share-based compensation, a non-cash expense that is not expected to recur in future periods, as well as non-recurring spending of $1.1 million. Absent those non-recurring items, the Q4 2022 adjusted net loss was $4.9 million³, in line with a trend of narrowing losses over the past four quarters.

First Quarter 2023 Preliminary Results⁴

Betting handle for the three-month period ended March 31, 2023 was $120.2 million, an increase of $80.0 million or 199% from $40.2 million in Q1 2022. Betting handle increased by $36.2 million or 43% from the previous quarterly record of $83.9 million in Q4 2022.
Revenue for Q1 2023 was $12.0 million, an increase of $7.2 million or 151% from $4.8 million in Q1 2022, and up $2.5 million or 27% over Q4 2022 revenue of $9.4 million.
Gross profit was $5.4 million in Q1 2023, an increase of $4.8 million from $0.7 million of gross profit in Q1 2022, and up $0.4 million or 9% from Q4 2022 gross profit of $5.0 million.
These results were achieved with a 10% reduction in marketing spend YoY.
Net loss was $3.5 million for Q1 2023, compared to a net loss of $6.6 million in Q1 2022.

Operational Highlights

Rivalry obtained licences in its first two fully regulated markets, commencing gaming operations in Ontario on April 4, 2022 and in Australia on May 9, 2022.
The Company added mobile esports to its sportsbook in March 2022, enabling customers to wager on a variety of competitive esports played on mobile devices.
The Company entered the casino segment with its first third-party game in Q3 2022 and launched its proprietary platform Casino.exe in the fourth quarter with several additional games.
Customer registrations increased to approximately 1.5 million by the end of Q1 2023.
Rivalry’s creator partner network and owned media properties reached a total of 85 million followers, deepening reach, acquisition, and engagement among core target audience.
Company brand strategy helped maintain market-leading position among next generation of bettors, with Millennial and Gen Z consumers accounting for 97% of active users in 2022.
Esports betting continues to drive significant growth, representing nearly 90% of sportsbook handle in 2022.
The Company expanded its casino offering in January 2023 with eight new titles including live dealer and table games, and debuted Casino.exe in its home market of Ontario in March 2023.
On April 26, 2023, Rivalry announced a private placement for gross proceeds of up to $10 million (the “Private Placement”) with participation from key sports betting, technology, and payments stakeholders, signaling a vote of confidence in the Company’s user economics and ability to execute within this emerging vertical. The Private Placement is expected to close in one or more tranches commencing on or about May 5, 2023.

Outlook

“We have reached an inflection point in the business where the economic return of our strategy and unique position at the intersection of esports and betting has outlined a clear path to profitability,” Salz added. “We are well-positioned to scale efficiently throughout the year, with a collection of near and long-term initiatives that will contribute to our disruptive product and brand.”

European Gaming Congress 2024 (Warsaw, Poland)

Initiatives the Company expects to drive continued growth in 2023 include:

Expanding our esports offering to deepen our core product, attract new customers, and establish the most comprehensive product globally.
Continued evolution of our interactive Casino.exe platform and release of additional proprietary and third-party games that cater to our core demographic and further establish a betting experience unique to Rivalry.
Continued product development, including new betting markets and proprietary platform features, to meet shifting consumption habits of Millennial and Gen Z consumers.
Launch of a mobile app in our regulated markets to increase accessibility of our product and player acquisition.
Geographic expansion to increase our addressable market and customer base.
Expanded brand execution through premium content, creator partner programming, and community activations to enhance customer engagement and retention, solidifying Rivalry’s leadership position among next generation consumers.
Continuing to grow our investor base through proactive capital markets outreach.

AGCO

AGCO issues penalties of $151,000 against Great Canadian Entertainment for alleged age verification failures

Published

1 day ago

May 12, 2025

GamingAmericas.com

agco-issues-penalties-of-$151,000-against-great-canadian-entertainment-for-alleged-age-verification-failures

The Alcohol and Gaming Commission of Ontario (AGCO) has issued $151,000 in penalties to Great Canadian Entertainment for allegedly failing to prevent minors from accessing gambling on multiple occasions at three Toronto-area casinos.

As part of its investigation, the AGCO reviewed four separate incidents in which minors allegedly gained access to the casino floors and in which some of these minors participated in gambling activities – two cases at Great Canadian Casino Resort Toronto, and one at each of Casino Ajax and Pickering Casino Resort.

The AGCO is committed to ensuring casinos meet Ontario’s high standards of harm reduction and responsible gambling. The AGCO’s Standards require operators to ensure only eligible individuals are permitted into a gambling site and strictly prohibit access to anyone under 19 years of age (except in the course of employment). The Standards also mandate that casino employees have the necessary competence, skills, experience and training to effectively carry out their duties, including age verification.

This enforcement action underscores the AGCO’s dedication to protecting youth and other vulnerable individuals.

A casino operator served with an Order of Monetary Penalty by the AGCO Registrar has the right to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), an adjudicative tribunal that is part of Tribunals Ontario and independent of the AGCO.

“Ontario casino operators have an obligation to ensure minors are not able to access casino floors or activities such as slot machines or table games. The AGCO will continue to monitor and hold all casino operators accountable for fulfilling this important role.” – Dr. Karin Schnarr, Chief Executive Officer and Registrar, AGCO.

The post AGCO issues penalties of $151,000 against Great Canadian Entertainment for alleged age verification failures appeared first on Gaming and Gambling Industry in the Americas.

Canada

Best Bitcoin Casinos Canada: Wild.io Picked as the Top Crypto Casino in Canada

Published

5 days ago

May 8, 2025

GlobeNewswire

best-bitcoin-casinos-canada:-wild.io-picked-as-the-top-crypto-casino-in-canada

Toronto, Ontario, May 08, 2025 (GLOBE NEWSWIRE) — Wild.io.jpg

The rise of cryptocurrencies has transformed online gaming, making it easier for players to enjoy added security, faster transactions, and a seamless experience. If you’re searching for the best Bitcoin casinos in Canada, you’ll definitely come across Wild.io, a platform that stands out for its exciting game library, innovative features, and lucrative bonuses.

JOIN WILD.IO NOW

Wild.io is specifically designed for Bitcoin enthusiasts who want a safe and rewarding environment to play their favorite casino games. With a 400% match bonus that can go up to $10,000 plus 300 free spins, the casino attracts players looking to maximize their crypto gaming adventure.

Overview of the Best Bitcoin Casino in Canada

Wild.io launched with a clear goal in mind—to become the ultimate destination for Bitcoin users who enjoy online gambling. The casino has quickly earned its reputation as one of Canada’s top picks, offering a blend of innovation and reliability.

The first thing that sets Wild.io apart is that it’s fully optimized for cryptocurrency users. From Bitcoin to Ethereum and other popular digital currencies, the platform ensures fast, secure, and hassle-free transactions. Plus, the transparency of blockchain technology guarantees fair play and secure payouts, which are essential for players who prioritize safety.

What’s more, Wild.io boasts a growing library of over 300 games, including slots, table games, and live dealer options. Its sleek website design is mobile-friendly and easy to use, ensuring a smooth experience whether you’re playing on a desktop or smartphone.

Customer satisfaction is clearly a priority at Wild.io. With strong customer support available via live chat or email 24/7, you’ll never feel left in the dark when you need assistance. All these features combine to make Wild.io a top choice for Canadian players in search of the best Bitcoin casinos.

Pros of Wild.io

Top Crypto Casino: Wild.io was built specifically for crypto users, making payments fast and secure.
Massive Welcome Bonus: New players can take advantage of a 400% match bonus up to $10,000 along with 300 free spins.
Wide Game Selection: From slots to live dealer games, Wild.io offers a little bit of everything for all kinds of players.
Blockchain Transparency: The platform leverages blockchain to ensure fair gaming and trustworthy payouts.
Mobile Compatibility: The casino runs smoothly on all devices, be it desktop or mobile.
24/7 Customer Support: With fast responses through live chat, help is always available.
Fast Payouts: Withdrawals are almost instant with cryptocurrency.

Cons of Wild.io

Crypto Only: While perfect for crypto enthusiasts, players who prefer traditional banking might feel limited.
Bonus Wagering Requirements: The large bonus comes with significant terms and conditions that may require effort to fulfill.

How to Join the Best Bitcoin Casinos Canada

Signing up for Wild.io is simple and straightforward. Follow these steps to get started and claim your 400% bonus today:

Click on the Link
Use this link to head over to the official Wild.io website.
Create Your Account
Enter your details, including a username and email address, then confirm your account. Be sure to choose a strong password for added security.
Deposit Crypto
Select your preferred cryptocurrency, such as Bitcoin or Ethereum, to make your first deposit. You’ll instantly receive the welcome bonus that matches your deposit up to 400%.
Explore and Play
Browse through the game selection and start playing right away with your boosted bankroll!

With an easy sign-up process and crypto-friendly features, getting started with Wild.io takes just minutes.

GRAB UP TO C$10,000 + 300 FREE SPINS AT WILD.IO NOW

How We Ranked the Best Bitcoin Casinos Canada

When evaluating the best Bitcoin casinos for Canadian players, we focus on critical factors that ensure you’re playing on a safe, rewarding platform. Here’s how Wild.io checks all the boxes:

Crypto Optimization

Wild.io is designed for Bitcoin users, with features that take full advantage of blockchain technology.

Bonuses and Promotions

The massive 400% bonus combined with ongoing promotions makes Wild.io appealing to both newbies and seasoned players.

Security and Transparency

Blockchain-backed security, paired with SSL encryption, ensures that player funds and data stay safe.

Game Library

Although smaller, Wild.io’s collection of hand-picked games guarantees high-quality entertainment for all preferences.

Payment Efficiency

Instant deposits and fast withdrawals are a huge plus for crypto users, ensuring smooth gameplay with minimal delays.

Game Types at the Best Bitcoin Online Casinos in Canada

Despite having a smaller library than some competitors, Wild.io’s games are carefully selected to deliver maximum entertainment and variety. Here’s what they offer:

Slots

The slots section includes both classic and modern options, featuring stunning graphics, exciting themes, and rewarding bonus features. Some games even come with progressive jackpots, offering the chance for big wins.

Table Games

Players can enjoy sophisticated favorites like blackjack, baccarat, and poker, as well as roulette in a variety of versions.

Live Dealer Games

For an immersive experience, visit Wild.io’s live dealer section. Watch real-time gameplay and interact with dealers while playing blackjack, roulette, and more.

Specialty Games

Want a break from the usual? Games like keno, dice, and crypto-based games add an extra twist to your gambling experience.

Payment Methods at the Best Bitcoin Casino in Canada

Wild.io makes payments simple, catering specifically to players who prefer cryptocurrencies. Supported coins include:

Bitcoin
Ethereum
Litecoin
Bitcoin Cash

Because the casino operates exclusively in crypto, you won’t find traditional payment options like credit cards. While this may seem limiting to some, cryptocurrency ensures faster transactions, lower fees, and added security for players.

Deposits appear instantly, and withdrawals are processed almost as quickly. Players can trust their funds are safe while enjoying complete privacy thanks to blockchain technology.

Responsible Gambling at Canadian Bitcoin Casino Sites

Wild.io is committed to promoting responsible gambling habits among its players. The casino includes features such as deposit limits, loss limits, and self-exclusion tools to help keep gaming fun and under control.

Additionally, the website provides links to resources like Gamblers Anonymous for players who may need extra assistance. It’s a welcome addition to an already customer-focused approach.

Ready to Explore the Best Crypto Casinos Canada Has in Store?

When it comes to the best Bitcoin casinos in Canada, Wild.io delivers an unmatched experience for crypto gamblers. With its lucrative 400% match bonus up to $10,000 and 300 free spins, fast payouts, and engaging game selection, the platform is perfect for both newcomers and experienced Bitcoin users.

Don’t miss your chance to join one of the most innovative and secure crypto casinos out there.

Editorial Note

This article is provided solely for informational and entertainment purposes. Nothing within should be interpreted as legal, financial, or professional advice. Readers should carry out their own research before participating in any gambling activities or signing up with any online casinos mentioned.

Gambling Caution

Online gambling comes with financial risks and may lead to addictive behavior or monetary loss. We urge all readers to gamble responsibly. If you or someone you know is struggling with gambling, professional help is available. In Canada, you can dial 1-626-960-3500.

19+ only. It is up to each individual to verify whether online gambling is permitted under their local, state, or federal laws. Neither the publisher, the authors, nor any syndication partners condone or support unlawful gambling. Participation in online gambling is done at the reader’s own discretion and risk.

Affiliate Transparency

This article may include affiliate links. If you click on a link and make a purchase or register, a commission may be earned, at no extra cost to you.

Syndication and Liability Disclaimer

Any third-party publishers, media platforms, or syndication partners that republish this content do so understanding that it is meant for informational purposes only. These entities are not responsible for the legality, accuracy, or interpretation of the material.

Contact Details:

Company Wild.io

Address: Scharlooweg 39, Willemstad, Curaçao

Website: https://wild.io/l/exclusivebonus

Email: support@wild.io

Attachment

Wild.io

CONTACT: Contact Details:

Company Wild.io

Address: Scharlooweg 39, Willemstad, Curaçao

Website: https://wild.io/l/exclusivebonus

Email: support@wild.io

Canada

ToonieBet Launches its Sportsbook on Apple App Store and Google Play Store

Published

5 days ago

May 8, 2025

GamingAmericas.com

tooniebet-launches-its-sportsbook-on-apple-app-store-and-google-play-store

ToonieBet, Soft2Bet’s flagship online casino and sportsbook for Ontario, has officially launched its sportsbook on the Apple App Store and Google Play Store. The platform is tailored specifically for local players, offering a dynamic betting experience with a broad range of sports events and competitive odds. The platform also features personalised promotions and loyalty rewards designed to match the preferences of Ontario’s diverse betting community.

The sportsbook uses official data feeds, ensuring players have access to the most accurate and up-to-date information on top local and international sports events. Additionally, the platform offers live broadcasting with real-time match analytics, allowing users to make informed betting decisions as events unfold. Integrated with MEGA and advanced player account management features, the operator is committed to delivering a seamless and responsible gaming environment that enhances the overall player experience while supporting local sports initiatives.

As part of this launch, the platform has also introduced a Sportsbook section on its official website, expanding its portfolio and bringing more choice to its growing customer base. With access to over 85,000 live events each month and more than 70,000 pre-match events across a wide range of sports, players now have even more ways to bet on what they love. Soft2Bet’s Canadian brand invites all players to explore its standout online casino and the full spectrum of sports betting, all delivered through a fast, secure, and fully localised platform.

‍Since its debut at the end of 2024, ToonieBet has offered a fast, fair, and secure online casino and sportsbook experience, fully localised for Ontario’s vibrant gaming market. The Apple App and Google Play additions further enhance accessibility, bringing ToonieBet’s premium entertainment to players on the go.

Additionally, this milestone complements the operator’s recent partnership with the NHL’s Ottawa Senators, which made ToonieBet the Official Online Casino Partner of the team. The partnership includes in-arena branding, digital promotions, and fan engagement initiatives like social contests, allowing ToonieBet to connect with Ontario sports fans in exciting ways and offering chances to win team merchandise and tickets.

Yoel Zuckerberg, Soft2Bet’s Chief Product Officer, said: “As Soft2Bet continues our rapid growth, we are excited to provide Ontario players with access to ToonieBet’s sportsbook which is now available on the Apple App and Google Play Store, offering seamless access to a customised experience tailored for the province’s passionate gaming community.”

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