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Rivalry Reports 192% Growth in Handle and 60% Growth in Revenue for Q2 2023, Projects Profitability in H1 2024

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports betting and media company, today announced its financial results for the three- and six-month periods ended June 30, 2023. Rivalry has also provided revenue guidance that the Company anticipates reaching profitability in the first half of next year. All dollar figures are quoted in Canadian dollars.

“In Q2 we delivered a nearly three-fold increase in handle year-over-year,” said Steven Salz, Co-Founder and CEO of Rivalry. “Increased marketing sophistication and enhancements to our core product have led to operational improvements, increased player wallet share, and a material year-over-year reduction in cost of customer acquisition, positioning us well in the coming quarters. The growing strength in these underlying fundamentals continues to validate Rivalry’s global brand leadership in esports betting, and more broadly, in delivering a world class online gambling experience for the next generation of fans.”

“Our position among young Millennial and Gen Z customers represents one of our greatest competitive advantages, but has also presented unique learnings regarding betting behaviors. Generally we experience higher margin volatility within the sportsbook among this demographic, which impacted revenue this quarter,” Salz added. “That said, challenges like this come with our position at the bleeding edge of a demographic shift in online gambling, and it has also allowed Rivalry to learn more than other operators about what is needed to succeed among this coveted cohort. In the immediate term we have been tuning our operational initiatives to address normalizing margin and seeing early results. And to contextualize the upside potential of this work, at consistent industry average margins Rivalry would have been profitable in Q1 and Q2 this year against the betting handle we generated. With these ongoing adjustments being made based on our learnings, alongside the general benefits scaling handle through growth provides to margin, we expect to reduce volatility, positively impacting bottom-line results, and propelling us to profitability in the first half of next year.”

Second Quarter 2023 Highlights

  • Betting handle for the three-month period ended June 30, 2023 was $112.2 million, an increase of $73.8 million or 192% from $38.4 million in Q2 2022, while reducing marketing spend 6% year-over-year.
  • Casino has helped offset historical esports seasonality slowdown in Q2, contributing toward revenue diversity and growth, adding $57.5 million in handle during the second quarter.
  • Revenue was $8.5 million in Q2 2023, a record result for a second quarter, representing an increase of $3.2 million or 60% from $5.3 million of revenue in Q2 2022.
  • Gross profit was $3.8 million in Q2 2023, an increase of $1.8 million or 86% from $2.1 million of gross profit in Q2 2022.
  • Net loss was $6.3 million for Q2 2023, a 1% increase from the net loss of $6.2 million in Q2 2022. A select number of low probability esports and sports outcomes, alongside unique behavioral betting habits from Gen Z users, caused increased margin volatility and negatively impacted revenue, which combined with several one-time expenses expanded the Company’s net loss.
  • Adjusting for non-recurring items in the Company’s operational expenses over the last four quarters, Rivalry is pleased to note that its operational expenses have remained nearly flat, while simultaneously delivering triple digit year-over-year growth in betting handle every quarter. It is this clear operating leverage trend, combined with concerted efforts to increasingly stabilize margin at scale, that has led the Company to provide its H1/24 profitability guidance.
  • The Company has continued to broaden its product offering in recent months, including the launch of its mobile app in Ontario and more recently, an industry-first same-game parlay product for esports, structural sportsbook hold rate and customer experience improvements.
  • The Company had $14.0 million of cash and no debt as at June 30, 2023.²

Guidance

  • The Company is providing guidance as it projects to reach profitability in the first half of 2024. This projection is based on several factors, including an expectation of consistent year-over-year revenue growth, slower increases in costs due to operating leverage and disciplined management of expenses, and ongoing product innovation that strengthens the Rivalry brand and leads to increased betting activity and lower cost of customer acquisition.

“We are keen to share a number of additional product releases coming in Q3, beginning with Same Game Combos, our own proprietary version of same-game parlays for esports, which we released just last week,” Salz added. “This feature, and others arriving in the third quarter, strengthens our position at the edge of technical and product innovation, and more broadly, our ability to continue delivering a market-leading betting experience catered to young Millennial and Gen Z consumers. We have barely scratched the surface of the feature set on our deep product roadmap, which we are confident will enable us to win this global generational opportunity in betting.”

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iGaming 2026 starts now: be the first to get Slotegrator’s iGaming trends report

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Slotegrator, a leading iGaming software provider and content aggregator, has published a report forecasting the iGaming trends of 2026. Developed in collaboration with over 50 experts from international companies, the report highlights how technology, regulation, ESG and transparency, and evolving player expectations will reshape the iGaming landscape in the coming year.

The report brings together insights from operators, regulators, affiliates, and marketing leaders across Europe, Latin America, Africa, and Asia. It covers key topics – from upcoming regulatory changes and AI-driven hyper-personalization to new compliance standards, marketing transformations, and the rise of community-based gaming ecosystems.

Readers will learn what to expect from:

  • Regulatory developments in the industry’s most attractive markets.
  • Advances in AI, cybersecurity, biometric KYC, and deepfake detection.
  • New marketing models built on emotional intelligence and data ethics.
  • The role of Web3, stablecoins, and gamified well-being.
  • The growing influence of ESG on the iGaming sector.

The report features practical insights from leading leading companies, recognized industry leaders and award winners, including SiGMA Group, Clarion Gaming, DEVILS, Endorphina, Amigo Gaming, Aviatrix, ZingBrain AI, BGaming, NGM Game, Peter& Sons, CasinoRIX, ICS-digital, top media like iGamingNews, Casino Guru, GamblingTalk, and others, alongside perspectives from top game studios and regional experts.

“The report brings together the key takeaways from our business analytical research and the voices of industry experts who observe market dynamics every single day. Their perspectives give this report its depth and authenticity. At Slotegrator, we value partnership and collaboration above all — this is what allows us to capture the real pulse of the iGaming industry. This document gives companies a valuable head start as they prepare for next year’s shifts,” adds Svetlana Kirichenko, head of marketing at Slotegrator.

The report offers a comprehensive view of what’s next for iGaming — a must-read for anyone shaping the future of the industry. Be among the first to download The iGaming Trends of 2026 from Slotegrator by following this link.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

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Boomerang Partners has announced a gift auction at their booth during the upcoming SiGMA Europe 2025 in Rome

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Boomerang Partners, an affiliate marketing agency and an Official Regional Partner of AC Milan, is preparing numerous activities for their booth 5046 G at the upcoming SiGMA Europe 2025 in Rome. The main highlight will be a gift auction featuring valuable prizes:

  • Signed Luka Modrić (football legend and AC Milan player) jersey
  • Apple iPhone 17 Pro Max 256GB Deep Blue
  • Ray-Ban | Meta Wayfarer smart glasses
  • Apple AirPods Pro 3

To try their luck in the gift auction, SiGMA Rome participants must visit the Boomerang Partners booth on November 4th and 5th and perform various tasks. For completing them, they will receive special chips of different denominations. The more chips they have, the higher their chances of winning in the auction. Details can be obtained from the hostess at the booth.

The final will take place on November 5th at 4:00 PM. On the same day, Boomerang Partners will announce the winners of their first sports traffic tournament, the Golden Boomerang League, which ran from September 1st to October 31st. All affiliate teams, including current and new partners of the company, who managed to generate 20+ FTDs on the brands from its client portfolio, have qualified for the prize draw. The prize for first place is direct access to the Golden Boomerang Awards 2026. Participants who place second and third will receive an AC Milan Experience package, which includes paid flights, accommodation, and attendance at an AC Milan home match at the famous San Siro Stadium in Milan.

Come to the Boomerang Partners booth, complete simple tasks, get chips, and participate in the gift auction. Extra pleasant surprises are possible. Read the full terms and conditions on the Boomerang Partners website.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is the Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards — a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. The agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The agency’s client portfolio contains 13+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.

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Week 44/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Spinomenal has unearthed its brand new addition to the Egyptian Empire series, Egyptian Rebirth – Hold & Hit. The electrifying game takes players deep within treasure-laden tombs etched with hieroglyphics across ancient columns. Players must weave their way past statues of forgotten gods on the hunt for other worldly riches.

Spinomenal unearths its new hit: Egyptian Rebirth - Hold & Hit

Amusnet brings a burst of color and excitement with Bulky Fruits Buy Bonus, a fresh twist on the classic fruit theme. This lively new release packs plenty of flavor, energy, and fun, delivering nonstop entertainment and juicy surprises at every turn.

A Splash of Color and a Burst of Fun with Amusnet’s newest release - Bulky Fruits Buy Bonus

TaDa Gaming, a leading provider of premium casino content, has released 3 Coin Golden OX, the newest addition to its popular TriLuck series. Played on a 5×3 grid with 243 ways to win, 3 Coin Golden OX merges elegant visual design with dynamic gameplay.

PG Soft has released its 3-reel, 1-row Egyptian throwback title, Pharaoh Royals. Unfolding under the glowing constellations of ancient Egypt, Pharaoh Royals delivers a classic slot experience sparkling with mysticism and dynamic gameplay, featuring multipliers of up to x10 and an atmospheric soundtrack.

PG Soft releases throwback title Pharaoh Royals

Slotland invites online casino players to step into the Castle of Horror — if you dare. Just in time for the spooky season, the new Castle of Horror slot game throws open its creaky gates and is treating players to a Halloween bonus feast. New and existing players can grab a 105% Match BOOnus and Free Chips.

Play’n GO invites players to traverse a realm shaped by sin and consequence in Divina Commedia I Nove Cerchi, a slot rooted in Dante Alighieri’s legendary Divine Comedy. The game opens in shadow. Dante stands at the edge of the inferno, blocked by monstrous figures – embodiments of human vice.

SlotMatrix has launched 1001 Nights of Riches, an enchanting new slot inspired by the legendary tales of Scheherazade. This vibrant adventure takes players deep into a world of treasures, magic lamps, and endless riches waiting to be discovered.

SlotMatrix spins a tale of treasures with 1001 Nights of Riches release

BGaming is proud to announce the release of Merge Up™ 2, the long-awaited sequel to the hugely popular cluster-pay title, Merge Up™. The new release elevates the original’s gameplay mechanics and design, using data-driven insights and research to give players exactly what they want.

Land Colourful Cluster Wins in BGaming’s Merge Up™ 2

Amusnet has released 40 Fruits and Gold, the newest addition to its vibrant online casino lineup. This game brings together the juicy charm of classic fruit slots and the shimmering sparkle of gold for a play experience that’s as refreshing as it is rewarding.

Amusnet Releases 40 Fruits and Gold

The show is about to begin… so find your seats, sit back and enjoy The Freak Show Revelation! B.T Parnum has gathered the freakiest freaks and created a program that is meant to shock the people! This is the second release from Sneaky Slots since the launch of Nip Tuck last month, with Gopnik and Gods Go Pew Pew up next!

Sneaky Slots reveals a bunch of freaks in its second release, Freak Show Revelation

Play’n GO pulls a signal from the void with Static Nightmare Abyssways™, a 6-reel video slot where the TV snow crackles, cables creep, and a quiet cul-de-sac hums with bad intent. ABYSSWAYS™ Free Spins and an expanding reel window bring a creeping sense of discovery to every moment.

Static Nightmare Abyssways™: Out Now!

Blueprint Gaming has unveiled its latest branded release, Yogi Bear™, marking another milestone in the studio’s proven track record of delivering high-performing IP-led content. Yogi Bear™ takes players on a light-hearted journey alongside Boo-Boo, Cindy Bear and Ranger Smith, with a focus on Money Collect and progressive rewards.

Blueprint Gaming launches Yogi Bear™ – a picnic-packed adventure smarter than the average slot

Playson, the accomplished digital entertainment supplier, welcomes players to join the party with Paddy Star: Smash and Win, where a charismatic leprechaun host and his Piggy Banks introduce the supplier’s innovative new mechanic. The brand-new Smash and Win feature activates when the leprechaun Wild symbol combines with any Bonus or Jackpot icon.

Paddy Star: Smash and Win

The post Week 44/2025 slot games releases appeared first on European Gaming Industry News.

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