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Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
2023 Annual Letter to Shareholders
To our Shareholders,
This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.
Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.
In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2 and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.
Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.
The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.
While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.
Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.
Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.
The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.
Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.
Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5 organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.
It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.
Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.
To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.
The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.
We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.
Former Pragmatic Play chief commercial officer brings 20 years of iGaming experience to the role.
BetConstruct AI has appointed Lena Yasir as its new chief executive officer, the company said.
Yasir has 20 years of iGaming experience, with a background in B2B commercial strategy, international expansion, and building teams across regulated and emerging markets.
Before joining BetConstruct AI, Yasir held senior leadership roles at Play’n GO, Evolution, and OnGame Network. Most recently, she served as chief commercial officer at Pragmatic Play, where the company said she played a central role in its global B2B growth.
In a statement, Yasir said: “BetConstruct AI is a highly respected and successful company in the global iGaming industry, and I am proud to be joining the business at such an exciting time.”
BetConstruct AI said Yasir will focus on accelerating global revenue, driving innovation, and strengthening partnerships across the iGaming ecosystem.
The post BetConstruct AI names Lena Yasir CEO appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Firm points to more LATAM teams, heavier digital viewing and second-screen habits as key drivers for new campaign strategies.
Sports marketing in Latin America will face a different playbook during the FIFA World Cup 2026, according to a new analysis from Latam Intersect. The firm says the expanded tournament format, combined with prime-time scheduling for the region and more digital consumption, will change how brands plan media, content and real-time engagement.
The 2026 edition will feature 48 national teams, 104 matches and three host countries. FIFA projects more than 6 billion people will follow the tournament in some way, Latam Intersect said. For Latin America, the firm highlights the added weight of having 10 regional teams qualified, alongside the region’s historical performance in the competition.
Latam Intersect argues that the LATAM fan base is now younger and more active online, with a predominant age range of 22 to 33 and strong Gen Z and millennial presence. The company cites data indicating 41% of fans already watch matches via digital platforms and 51% use social media while watching on TV, turning each match into a continuous “second-screen” engagement window.
“In 2026, the fan is already in the middle of a conversation that never stops. Brands that show up with a prepared post after the match are already too late,”, said Livia Gammardella, Head of Marketing and Digital de Latam Intersect.
The firm also breaks the audience into three archetypes—casual fan, devoted fan and “fanático”—and says brands often underperform by treating the World Cup audience as one segment. It adds that women fans and fans arriving through pop culture, memes and music are growing audiences that global campaigns frequently miss.
A major difference versus the 2018 and 2022 tournaments is match timing for the region, with most games expected to land in prime time for Latin America, the company said. “A World Cup in prime time was exactly what retail needed. People will not watch the matches alone: they will gather with family, order food, buy products. The brand that uses cultural intelligence to understand the localized rituals of its fan will build far more connection than it could expect”, said Claudia Daré, socia y cofundadora de Latam Intersect.
The company said it has published a related eBook on platform behaviors across Instagram, TikTok and X, alongside market-specific audience data and planning framework
The post Latam Intersect flags prime-time World Cup 2026 as a reset for LATAM sports marketing appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Claudia Daré partner and co-founder of Latam Intersect.
Sports marketing will change in Latin America during the 2026 World Cup
The biggest tournament in history arrives with an unprecedented strategic window for brands: prime-time matches, more Latin American national teams, and an audience that is radically more digital and diverse.
The 2026 World Cup is not just the most ambitious edition in the tournament’s history. For Latin America, it represents a convergence of factors never seen in any previous edition: ten national teams from the region qualified, matches will air in prime time, and an audience that experiences football in ways that would have been unimaginable a decade ago.
With 48 national teams, 104 matches, and three host countries, FIFA projects that more than 6 billion people will follow the tournament in some way. For Latin America, whose national teams have won the World Cup 10 times, the competition arrives with a particularly strong emotional weight.
An audience that no longer watches football in silence
The profile of the Latin American fan has changed profoundly. The dominant age bracket today is between 22 and 33 years old, with a strong presence of Gen Z and millennials. This segment does not just consume the sport; it comments on it in real time, amplifies opinions on social media, and lives every match with a phone in hand.
The data is striking: 41% of fans already watch matches through digital platforms, and 51% use social media simultaneously while watching on television. This turns every match into a 90-minute window of continuous engagement, an opportunity that traditional communication strategies, designed for a passive consumer, are simply not built to capture.
“In 2026, the fan is already in the middle of a conversation that never stops. Brands that show up with a prepared post after the match are already too late,” says Livia Gammardella, Head of Marketing and Digital at Latam Intersect.
Three profiles, three different conversations
Not all fans are the same, and treating them as if they were is one of the most common mistakes in communication strategies for major sporting events. Audience analysis identifies three clearly different archetypes: the casual fan, who gets caught up in the spirit during important matches but disconnects if their team is eliminated; the devoted fan, loyal to their team and routines, who sees any brand opportunism as disrespect; and the fanatic, for whom football is identity and belonging, and who grants loyalty only to those who demonstrate a genuine connection to the sport.
To these three segments are added fast-growing audiences that global campaigns often ignore: women fans, whose digital engagement continues to grow steadily, and supporters who come to football through pop culture, memes, and music.
Prime time as a strategic window
One of the most significant differences from the last two World Cups is the broadcast schedule. In 2018 and 2022, the time zones of Russia and Qatar pushed matches into Latin American mornings or afternoons. In 2026, most matches will fall in prime time across the region, opening an opportunity that practically did not exist in recent editions.
“A World Cup in prime time was exactly what retail needed. People will not watch the matches alone: they will gather with family, order food, buy products. The brand that uses cultural intelligence to understand the localized rituals of its fan will build far more connection than it could expect,” says Claudia Daré, partner and co-founder of Latam Intersect.
The Latin American fan of 2026 is younger, more digital, and more diverse than in any previous edition. Digital platforms have shifted from being support channels to becoming the main stage. And while the conversation is global in scale, it is always local in content.
The tournament will unfold simultaneously on two screens. Instagram works as a visual archive and positioning channel. TikTok is where trends are born, rewarding native creativity over expensive production. X is the public square for minute-by-minute conversation, with relevance windows that close in a matter of seconds. And physical spaces, bars, fan fests, family gatherings, regain prominence that the schedules of the last two editions had reduced considerably.
Treating them as a single distribution channel is, according to specialists, the fastest way for a brand to go unnoticed.
The 2026 World Cup arrives with an architecture unlike any previous edition: more countries, more matches, more screens, and an audience that does not wait for kickoff to start the conversation. In Latin America, where football functions as a shared language across generations, social classes, and borders, the tournament promises to be a moment of cultural cohesion on a historic scale.
The post Sports marketing will change in Latin America during the 2026 World Cup appeared first on Americas iGaming & Sports Betting News.
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