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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.
Bet St George has published new research claiming four in ten England fans expect the Three Lions to win the 2026 FIFA World Cup. The betting brand said the poll of 1,000 England sports fans was conducted between 15 and 18 May 2026, with the tournament set to start on Thursday.
In the survey, 40% of respondents said they expect England to lift the trophy in North America this summer. Optimism is highest among 25 to 34 year olds, where 67% backed England to win.
The research also points to a broader national narrative around the team. Nearly three-quarters (72%) of fans agreed that the England team brings the nation together. Separately, 26% said a World Cup win would rank among their top three most important life events, rising to 31% among men.
Regionally, Bet St George said England sports fans living in Scotland were the most confident cohort in the dataset, with 77% backing England to win and 96% agreeing the team brings the nation together. Greater London also skewed optimistic (53% backing England; 36% placing a win among their most important life events), while Yorkshire and the Humber was more cautious (31% backing England; 19% ranking a win as a top life moment).
Andre Au, Marketing Director at Bet St George, said: “England has one of the most passionate sporting audiences in the world, but for a long time, it was the only nation in the UK without a sportsbook built around its own identity.
“We created Bet St George because supporting England is different. World Cup fever hits massively once the squad is announced. For England, it is the expectation. It’s all about the previous hurt, penalty shoot-outs, the build-up, the predictions, and the debates with your mates. The whole nation feels that this tournament might finally be the one.”
The post Bet St George survey: 40% of England fans tip World Cup win appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Advanced Compliance Technology (ACT), an independent provider of geolocation, sports integrity and risk solutions for the global regulated betting and gaming industry, has launched its next-generation AI and machine learning-powered Compliance and Integrity Platform.
The new platform brings together geolocation, identity verification, fraud detection, behavioural monitoring and sports integrity checks into a single, real-time solution.
The self-optimising platform leverages advanced AI and machine learning (ML) models to process and analyse 100,000s of data points related to athletes, leagues, officials, teams, betting markets, bookmakers, player activity, transactional behaviour and geolocation intelligence.
Advanced ML models also monitor player performance, injuries and behavioural patterns to identify anomalies, suspicious activity, integrity risks and emerging compliance threats as they develop.
When an alert is raised, ACT’s team of compliance, fraud and integrity specialists are on hand to support customers with expert judgements, providing even greater confidence through human-in-the-loop oversight.
By bringing these traditionally siloed compliance disciplines together, ACT’s new dashboard provides operators, regulators and sport governing bodies with a unified view of risk across the entire player and betting lifecycle, facilitating faster, more informed decisions based on live data and risk analysis.
Mike Venner, Co-Founder and Director at Advanced Compliance Technology, said: “Traditional compliance systems were built in silos. ACT is building the next-generation oversight platform, bringing geolocation, KYC, AML, fraud detection, behavioural monitoring, and sports integrity together in a single AI and machine learning-powered ecosystem.
“By transforming fragmented data into connected intelligence, ACT identifies risks and patterns at a scale no human team could achieve alone. Combined with decades of compliance, fraud, and integrity expertise, our platform ensures that advanced technology is reinforced by experienced human oversight, delivering smarter decisions, stronger enforcement, and more effective compliance outcomes.”
The post Advanced Compliance Technology Launches AI-driven Compliance and Integrity Platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
REEVO has announced a new partnership with Amigo Gaming, a Barcelona-based slot provider recognised for delivering immersive and high-performing gaming experiences across international markets. This collaboration further strengthens REEVO’s aggregation ecosystem, expanding its portfolio with a wide range of engaging content designed to drive player retention and operator growth.
Through this partnership, Amigo Gaming’s portfolio is now available on the REEVO aggregation platform, providing operators seamless access to more than 150 certified titles through a single and efficient integration. The addition of Amigo Gaming reinforces REEVO’s commitment to continuously expanding its platform with diverse, engaging, and globally proven content.
For REEVO, this partnership reflects its ongoing strategy to collaborate with innovative and fast-growing studios that enhance the value and performance of its aggregation platform.
Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with Amigo Gaming is an exciting step forward for REEVO as we continue to strengthen our aggregation platform with engaging and high-performing content. Amigo Gaming has built a strong portfolio with a clear focus on player experience, creativity, and consistency, which aligns perfectly with our vision at REEVO. We are focused on building an ecosystem that helps operators stand out, and this partnership adds even more depth and variety to the content available through our platform.”
Alice Carraro, Senior Account Manager at Amigo Gaming, said: “At the end of the day, a great game is only as good as the platform hosting it, and that’s why working with REEVO feels so right. We pour a lot of energy into making our slots distinct, reliable, and genuinely fun to play, but REEVO has the seamless network needed to get them in front of the right audience. It’s the perfect match: we bring the engaging content players love, and they provide the smooth, hassle-free integration that operators appreciate. We’re really excited to grow together.”
The post REEVO Announces New Partnership with Amigo Gaming appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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