Latest News
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.
Latest News
Cybersecurity and Regulatory Exposure: Critical Risks for Online Casino Operators in 2026
This article is part of an Atlaslive series that examines common online casino vulnerabilities and how established operators can identify and address them early.
Throughout the series, Atlaslive analyzes several exposure areas operators should consistently evaluate: cybersecurity threats, KPI warning indicators, financial leakage risks, infrastructure and platform weaknesses, and compliance-related pressure. The final article will provide a structured set of mitigation principles developed by Atlaslive specialists.
This installment focuses on cybersecurity and regulatory exposure—two operational risk areas that can directly affect revenue stability, player trust, and license continuity.
Cybersecurity Threats Impacting Casino Platforms
Online casinos operate in an environment where high transaction volumes and sensitive player data create attractive targets for cyber threats. As operations grow, the level of exposure increases. These risks are not theoretical—they can disrupt operations, increase costs, and attract regulatory attention.
Common cybersecurity threats include:
- DDoS attacks that interrupt platform availability and degrade player experience during high-traffic periods.
- Account takeover attacks (credential stuffing) that compromise player accounts and lead to financial loss and chargebacks.
- Payment fraud, including misuse of bonus systems and the use of stolen payment methods.
- Phishing and social engineering attacks aimed at players or internal staff to gain unauthorized access to systems.
- Data breaches that expose sensitive personal or financial information, increasing reputational risk and regulatory penalties.
For established operators, the consequences extend beyond technical disruptions. Platform downtime can reduce acquisition efficiency, fraud increases operational costs, and security incidents often lead to additional compliance scrutiny and reporting obligations.
How to Address
According to the Atlaslive information security team, effective mitigation requires continuous monitoring, multi-factor authentication, encrypted infrastructure, and structured security governance aligned with regulatory standards.
Regulatory Exposure: A Continuous Risk Factor
Regulatory exposure is an ongoing operational challenge rather than an isolated issue.
As regulated markets evolve, compliance obligations become more demanding. KYC and AML frameworks expand, while operators active in multiple jurisdictions must navigate overlapping regulatory standards. In such an environment, even small operational inconsistencies can create significant exposure.
Typical risk areas include:
- Delayed KYC verification during periods of high transaction volume
- Inadequate transaction monitoring thresholds
- Incomplete audit trails
- Inconsistent rule enforcement across jurisdictions
- Manual reporting processes that increase the risk of errors
Regulatory vulnerability rarely starts with a large violation. More often, it develops from operational friction, such as delayed verification checks, inconsistent data synchronization, or limited visibility across compliance processes.
How to Address
For operators scaling across regulated markets, structured automation, real-time monitoring tools, and standardized governance processes are critical for maintaining license stability and operational continuity.
Security and Compliance as Interconnected Functions
Cybersecurity and regulatory exposure are closely connected. Security incidents can quickly escalate into compliance investigations, while weak compliance processes can amplify the impact of technical failures.
For established operators, operational resilience depends on treating security governance and compliance management as integrated operational disciplines rather than isolated functions.
Structured oversight, real-time monitoring, and system-level coordination help reduce exposure before issues escalate into financial or regulatory damage.
To explore the full range of online casino vulnerabilities and review mitigation recommendations from Atlaslive specialists, access the full article on the Atlaslive blog.
About Atlaslive
Atlaslive is a B2B software development company that specializes in creating a multifunctional and automated platform to optimize the workflow of sports betting and casino operators. Key components of the Atlaslive Platform include Sportsbook, Casino, Risk Management and Anti-Fraud Tools, CRM, Bonus Engine, Business Analytics, Payment Systems, and Retail Module. Follow the company on LinkedIn to stay updated with the latest news in iGaming technology.
AI
BetGames research reveals more than 70% of players failed to recognise AI avatar gameshow presenters
BetGames has revealed the results of a research project testing AI-generated presenters on its live game shows, finding that fewer than 30% of players realised the hosts were artificial — and that the change produced no significant impact on player behaviour.
For the experiment, the supplier introduced AI avatars designed as digital replicas of real presenters, quietly deploying them on one of its live games over several days to evaluate whether they could effectively replace human hosts.
The results showed that more than two-thirds of players did not notice the switch to AI. At the same time, key performance indicators — including session duration, stake size and total bets placed — remained statistically unchanged.
According to BetGames, the absence of both positive and negative shifts suggests that while AI avatars can technically replicate the role of live presenters, they currently provide no measurable advantage. As a result, the company believes there is not yet a strong business case for rolling out the technology on a large scale.
Cost efficiency, often cited as a major driver of AI adoption, also failed to deliver a clear benefit. BetGames reported that generating and operating an AI avatar around the clock remains resource-intensive, limiting potential financial gains compared with human hosts.
Technical hurdles further complicate the widespread adoption of AI presenters. One of the most significant challenges remains achieving realistic text-to-speech performance. As AI technology becomes more advanced and visual realism improves, even minor imperfections in speech become increasingly noticeable to audiences.
Other constraints include latency issues, lip-synchronisation delays and inaccuracies in real-time translation — all critical elements that must be refined before the technology can be implemented reliably across live products.
BetGames continues to explore the potential of AI under the leadership of CEO Andreas Koeberl, who is also co-founder of Autonomous Minds, the developer behind the AI analyst Milo. The initiative forms part of the company’s broader strategy to experiment with emerging technologies and help future-proof the iGaming industry.
Koeberl said:
“AI has been building momentum, but its role within the live casino sector remains largely untested. When it comes to AI presenters, we built it, it worked, and nobody cared. That raises the question of what we are actually working toward.
“The technology didn’t produce any meaningful positive or negative impact on the player experience or product margins, and the cost of running an AI avatar 24/7 offers no significant advantage compared with employing human presenters.
“So rather than attempting to replace humans and replicate what already exists, the focus should shift to exploring what AI can enable that wasn’t previously possible. That’s where the real value lies.”
The post BetGames research reveals more than 70% of players failed to recognise AI avatar gameshow presenters appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Africa
Blueprint Gaming Expands into South Africa Through Strategic Partnership with Hollywoodbets
Blueprint Gaming
has enhanced its foothold in the South African market via a major alliance with top operator Hollywoodbets, offering a wider range of its globally acclaimed slot titles to players in the area.
Although Blueprint has been operational in South Africa since late 2025, this agreement signifies its initial significant launch with a top-tier operator in the country, highlighting a key advancement in its long-term regional plan.
Through the collaboration, Hollywoodbets will launch a variety of Blueprint’s most recognized and top-performing games, featuring its successful Cash Strike series and the consistently favored Fishin’ Frenzy, along with a selection of celebrated IP-based titles like Ted
.
Blueprint has established a reputation for merging well-known intellectual property with robust mathematical models and focused gameplay, producing titles that consistently appeal across regulated markets. The addition of this portfolio to Hollywoodbets’ live game selection further enriches the operator’s content variety, offering players reliable games supported by global performance credentials.
South Africa ranks among the most advanced and established gaming markets in Africa, backed by a strong regulatory system and a rich history of retail betting. As digital adoption speeds up and online casinos keep rising in popularity, the market offers substantial long-term growth opportunities for high-quality content providers.
Through a collaboration with Hollywoodbets, one of the leading betting brands in the country, Blueprint gains instant access to a vast, active customer base along with extensive local market knowledge. The partnership enables the studio to achieve significant growth in South Africa, while also creating a strategic base for broader expansion throughout the African continent.
Sam Haggblom, Director of Business Development at Blueprint Gaming
, said: “South Africa represents a compelling opportunity for Blueprint. It is a mature and well-established market with a clear appetite for high-quality online casino content.
“Introducing our wide and performance-focused portfolio through Hollywoodbets allows us to showcase the depth and versatility of our games to a new audience. We see strong long-term potential not only in South Africa but across the wider African landscape.”
Wayde Dorkin, Head of Product at Hollywoodbets, added: “Blueprint Gaming’s portfolio has delivered consistent results across multiple regulated markets worldwide.
“The addition of established brands such as Cash Strike and Fishin’ Frenzy further strengthens our online casino offering, enabling us to continue providing players with proven, high-quality and internationally recognised content.”
The post Blueprint Gaming Expands into South Africa Through Strategic Partnership with Hollywoodbets appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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