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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.
CasinoCanada has announced a strategic partnership with MelBet, the international betting and gaming operator, aimed at expanding the brand’s footprint in Canada through dedicated content and brand representation on CasinoCanada’s digital platforms.
Under the agreement, CasinoCanada.com will produce detailed reviews and SEO-focused content tailored to Canadian audiences. The partnership is designed to provide users with clear, transparent information about MelBet’s products and services, while enhancing the operator’s visibility in Canada and driving traffic to the MelBet website.
CasinoCanada is operated by SEOBROTHERS, and Eugene Ravdin, Head of PR, said:
“MelBet operates across multiple international markets and has established a consistent presence in the iGaming industry. Through CasinoCanada, we will focus on delivering clear, data-based content tailored to users in Canada and quality traffic to the MelBet website. This partnership is structured around transparent communication and long-term cooperation.”
MelBet offers daily betting on over 1,000 events across sports and esports, alongside a wide range of slots from more than 120 global providers. The brand has earned multiple accolades, including Best Online Gambling Operator (EVENTUS 2023), Best Affiliate Program (SiGMA Africa Awards 2024), and Live Casino of the Year (AffPapa iGaming Awards 2024).
The operator’s high-profile sports partnerships feature legends such as Andrés Iniesta, Didier Drogba, and Kamaru Usman. In October 2025, MelBet extended its agreement as Juventus’ official betting partner in MENA and Africa, while Spanish La Liga and professional Dota 2 organisation OG Esports further enhance its global portfolio.
Anastasiia Shcherbyna, CMO at MelBet Affiliates, commented:
“Working with CasinoCanada has been smooth and efficient. They understand the specifics of our brand, communicate clearly, and consistently deliver on their commitments. We appreciate their professional approach and see strong potential for long-term cooperation.”
This collaboration positions MelBet for sustained growth in Canada, leveraging CasinoCanada’s content expertise and digital reach to strengthen brand awareness and user engagement.
The post CasinoCanada announces new partnership with MelBet appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Emerging-markets leader enhances its content selection with new games from a rising contender.
QTech Games, the premier game aggregator for emerging markets, has sustained its robust momentum in its pipeline, owing to its recent agreement with promising studio, Barbara Bang, a slots provider recognized for its unique method of game development and a customized approach to discovering localized solutions for various markets.
Incorporating an outstanding portfolio from a highly unique and innovative digital slots supplier further enhances QTech Games’ expanding platform, which is bringing a diverse selection of online games to emerging markets, featuring well-known brands alongside the industry’s most thrilling new providers.
The games offered to QTech partners through this agreement are crypto-friendly and include popular titles and new releases like Sky Rail Riches, Juicy Fruits, Sunshine Rich, and Chieftain Buffalo. Each utilizes distinct maths modeling that alters the volatility spectrum, contributing to an engaging gaming experience.
Philip Doftvik, QTech Games’ CEO, said: “We’re committed to rolling out first-class content that drives revenue for our partners. So, this deal with Barbara Bang extends our impressive sequential pipeline – and we’ve so much more to come in 2026! In today’s marketplace, only high-quality games offering something different separate you from the rabble, so we’re delighted to see how Barbara Bang is fulfilling this demand. Their dedication to data-driven content development, coupled with an acute focus on even the most specific player-centric details, matches up neatly with QTech’s own localisation techniques across emerging markets.
George Dias, Partnership Manager of Barbara Bang, added: “Barbara Bang prides itself on our ever-expanding production line of titles which provide unique and head-turning experiences in an increasingly homogenised space. And we’ve found QTech to be a natural habitat for embracing such content, and delivering it to new audiences. Founded with the goal of bridging the gap between players and gaming platforms, Barbara Bang is now acquiring progressive recognition in the iGaming market, thanks to this deal with the top aggregator QTech Games.
“We’re confident that this partnership will allow us to seamlessly broaden the scope of our slots for fresh audiences across emerging markets. It’s a significant step for Barbara Bang in enlarging our global footprint.”
The post QTech Games Amplifies Action Through Barbara Bang Integration appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Hub88 has enhanced its Operator Backoffice suite with the launch of Player Analytics, a tool designed to provide operators with a clear, actionable view of player behaviour across their platform.
Traditionally, understanding player activity has been a manual, time-consuming process, often requiring data to be pulled from multiple systems or spreadsheets. Player Analytics consolidates this information into a single interface, improving efficiency and enabling data-driven decision-making.
The tool offers two main interfaces:
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Table View: Provides broad segmentation and filtering across the entire player base. Operators can sort players by date, product, country, device, currency, or player ID, and save custom segments for ongoing analysis.
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Player Profile: Delivers a detailed overview of individual users, including gameplay history, KPIs, supplier activity, devices, currencies, geography, and flagged events — all presented via customizable charts and dashboards.
With advanced insights, operators can detect financial spikes or drops, analyze behavioural trends, forecast churn, and identify potential fraud. Linking supplier IDs directly to player activity also helps operators spot inconsistencies and streamline support processes.
Ollie Castleman, Managing Director of Hub88, commented:
“With high volumes of player activity, modern operators are often overwhelmed by raw data. Player Analytics gives teams the ability to understand player behaviour at both a high level and in granular detail, without relying on manual processes or specialists. Operators deserve clarity, speed and actionable insight, and through this new tool, they can make smarter decisions with confidence.”
The launch of Player Analytics reinforces Hub88’s commitment to providing operators with tools that enhance efficiency, support long-term growth, and maximize platform performance.
The post Hub88 launches Player Analytics to give operators complete view of user behaviour appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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