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Rivalry Reports 192% Growth in Handle and 60% Growth in Revenue for Q2 2023, Projects Profitability in H1 2024
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.”
As the iGaming industry enters 2026, award-winning platform and aggregator Groove Technologies is reflecting on a transformative 2025. This landmark year was defined by strategic expansion, technological innovation, and a significant deepening of its global roots, solidifying Groove’s role as a comprehensive growth engine for operators worldwide.
Strategic Leadership and Market Penetration
A key catalyst for this growth was the appointment of Giusy Campo as Business Development Director. With over 15 years of experience (including a notable tenure at GLI), Campo’s mandate was to structure and accelerate the company’s push into complex regulated markets.
The “LATAM Story”: Brazil and Argentina
A headline achievement for the year was securing a license to operate in Brazil as the country launched its regulated market on January 1, 2025. Coupled with established activity in Argentina, this move forms the foundation of Groove’s Latin American strategy.
“Brazil isn’t just another market; it’s a statement of intent,” says Yahale Meltzer, Co-Founder and COO. “With Giusy Campo leading our business development, we are systematically building the partnerships necessary for long-term success in regulated regions.”
Technological Innovation: Groove Command & Instant Tournaments
2025 saw Groove transition from a powerful aggregator to a complete engagement ecosystem with the launch of its proprietary Instant Tournaments tool, integrated directly into the Groove Command (Sinatra) Back Office.
Key Platform Advancements:
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Self-Service Marketing: Operators can now launch and manage tournaments and Free Round Bonuses (FRB) in minutes without technical intervention.
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Ecosystem Growth: The platform onboarded 20+ new game providers and 10+ new operator partners in 2025.
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Vertical Expansion: Significant growth in the Sweepstakes and Crypto gaming sectors, responding to evolving partner demand.
| Metric | 2025 Achievement |
| New Providers | 20+ Added |
| New Operators | 10+ Onboarded |
| Total Game Catalog | 15,000+ Titles |
| Global Presence | 10 Major Events across 4 Continents |
Diversified Partnerships: From Crypto to National Lotteries
Demonstrating the platform’s versatility, Groove secured a landmark partnership with Azerlotereya, the national lottery of Azerbaijan. This collaboration validates the robustness and compliance of Groove’s infrastructure in government-backed, high-stringency environments.
Operational Scale and Global Infrastructure
To support these ambitions, Groove scaled its global support network. The company now maintains offices in Israel, Georgia, and Malta, offering 24/7 multilingual technical and account services.
“Our expansion into sweepstakes and crypto wasn’t opportunistic; it was a response to clear partner demand,” reflects Meltzer. “When an operator in Georgia or a partner in São Paulo has a question, they get an answer from someone who understands their market context, not just their technical issue.”
The post How Groove Technologies Powered a Landmark Year of Global Expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
USA Pickleball is heading back to the “Sports and Entertainment Capital of the World” for the USA Pickleball Golden Ticket – Las Vegas, presented by Tommy Bahama.
Taking place from February 18–22, 2026, the event moves to a new iconic home at the Plaza Hotel & Casino in downtown Las Vegas. As a premier qualifying event for the 2026 USA Pickleball National Championships, this tournament offers amateur players their fastest “Path to Nationals.”
The “Golden Ticket” Advantage
In the competitive world of pickleball, a “Golden Ticket” is the ultimate prize for amateur athletes.
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Priority Registration: Gold medalists in each age and skill bracket receive a Golden Ticket, granting them guaranteed priority registration for the National Championships in November.
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Tiered Point System (TPS): Participants who do not win gold still earn maximum ranking points toward Nationals eligibility, as Golden Ticket events sit at the highest tier of the sanctioned points system.
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Official Rankings: As a sanctioned event, results are reported to DUPR, providing athletes with verified skill ratings.
Venue Spotlight: The Plaza Hotel & Casino
The Plaza has established itself as the premier pickleball destination in Las Vegas, boasting more courts than any other hotel-casino resort in the city.
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16 Tournament-Level Courts: The venue features 12 permanent rooftop courts and a dedicated championship court area that can expand to accommodate large-scale tournament play.
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Rooftop Experience: Players compete on the Plaza’s fifth-floor pool deck, offering panoramic views of the Las Vegas valley and the historic Fremont Street District.
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Capacity: The event expects to host over 500 athletes across five days of high-stakes competition.
“This venue allows us to deliver an extraordinary athlete experience, from professional operations to the energy that makes Las Vegas such a special host city,” said Jose Moreno, Chief Marketing Officer of USA Pickleball.
Tournament Registration & Logistics
Registration for the Las Vegas Golden Ticket is currently open, with several key deadlines and costs for participants:
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Registration Deadline: February 8, 2026.
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Cost: $95 Registration Fee + $45 Event Fee (Amateurs).
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Skill Levels: Open to players in skill brackets 3.0 to 5.0, with age divisions ranging from 19 to 80+.
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Exclusive Rates: A special hotel rate is available at the Plaza using group code SUSAPGT for bookings made by February 2nd.
For more information on Golden Ticket tournaments and the Path to Nationals, visit https://usapickleball.org/goldenticket/.
The post USA Pickleball “Golden Ticket” Returns to Las Vegas: February 2026 at the Plaza appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
DUPR Ratings
USA Pickleball Golden Ticket Heads to the Plaza Hotel and Casino in downtown Las Vegas next month
USA Pickleball Golden Ticket Las Vegas presented by Tommy Bahama set for Feb. 18-22
USA Pickleball is returning to Las Vegas next month with the USA Pickleball Golden Ticket – Las Vegas presented by Tommy Bahama, bringing one of the organization’s premier qualifying events back to the city after a highly successful 2024 tournament. The event will take place Feb. 18–22, at the Plaza Hotel and Casino in downtown Las Vegas, offering athletes a new venue and an elevated tournament experience.
Golden Ticket Tournaments are official qualifying events for the USA Pickleball National Championships, the sport’s most prestigious competition. Winners earn a coveted Golden Ticket, securing priority registration to Nationals, while all participants earn points as part of USA Pickleball’s Tiered Point System.
Golden Ticket Tournaments attract top players from across the country, offering a professionally run environment with certified referees, official rules, and first-class venues designed for fair and competitive play. As sanctioned USA Pickleball events, participants earn official DUPR ratings and ranking points, helping athletes track progress and advance competitively.
“We’re excited to bring the Golden Ticket back to Las Vegas and to do it at the Plaza Hotel and Casino, with an expected 500+ athletes,” said Jose Moreno, Chief Marketing Officer of USA Pickleball. “This venue allows us to deliver an extraordinary athlete experience, from professional operations to the energy that makes Las Vegas such a special host city. Golden Ticket tournaments are a vital part of The Path to Nationals, and Las Vegas is the perfect place for players to test themselves, earn their way forward, and compete among the best in the country.”
“With the most pickleball courts of any resort, the Plaza has become the premier destination for pickleball in Las Vegas,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino. “We are excited to host this prestigious tournament and welcome the top USA Pickleball players from across the country to the Plaza. This event will be one not to miss with exciting, competitive matches played on our courts that offer unforgettable views of the Las Vegas valley.”
A special hotel rate at the Plaza is available for tournament participants. Rooms must be reserved online by Feb. 2, with group code SUSAPGT at https://book.passkey.com/go/SUSAPGT. Guests can also make reservations by phone, 1-800-634-6575, Monday through Friday, 8 a.m. to 10 p.m., or Saturday and Sunday, 5 a.m. to 10 p.m.
For more information on Golden Ticket tournaments and the Path to Nationals, visit https://usapickleball.org/goldenticket/.
The post USA Pickleball Golden Ticket Heads to the Plaza Hotel and Casino in downtown Las Vegas next month appeared first on Americas iGaming & Sports Betting News.
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