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.
3 Pigs of Independence Hog & Win
Gaming Corps launches 3 Pigs of Independence Hog & Win
New 3 Pigs slot uses a 3×5, 243-ways setup with a Hold & Win-style bonus and a stated 5,000x max win.
Gaming Corps has launched 3 Pigs of Independence Hog & Win, a new title in its 3 Pigs slot series. The Sweden-based, publicly listed developer said the game is themed around US Independence Day.
The game runs on a 3×5 grid with 243 ways to win. Gaming Corps said it is built around “Hog & Win”, its pig-themed take on Hold & Win, where Prize Coins worth 1x to 5x the total bet can land in the base game and be collected via Collector Vaults.
According to the studio, the Bonus Hog & Win Game is triggered by collecting red, white and blue Pig Coins, with a stated top prize of 5,000x the total bet. In the bonus, the Red Pig “Grow” upgrade can add rows to increase the grid up to five symbols high, the White Pig “Boost” applies multipliers up to 10x, and the Blue Pig “Extra” adds respins. The Liberty Pig can also appear and reveal as one of the three Pig Coins.
The game also includes four collectable Banknote Prizes—Hamilton, Oinkrew, Grunt and Benji—which fill progress bars toward larger rewards, Gaming Corps said. A “Lose to Win” mechanic can also trigger on losing spins to reshape the grid into a win or send players into the Hog & Win feature.
Viacheslav Pechernyi, Product Owner at Gaming Corps, said: “The 3 Pigs have become real characters for us, and half the fun is deciding where they turn up next. An American Independence theme was the perfect fit for their loudest, brightest adventure yet.
“Beneath the celebration there is a genuinely rewarding game, with the Hog & Win feature, the grid-growing upgrades and the Banknote Prizes giving players plenty to chase. It is bold, good fun, and we think it will go down well wherever the 3 Pigs have found a following.”
The post Gaming Corps launches 3 Pigs of Independence Hog & Win appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Astana
Astana to host IESF World Esports Championship 2027
IESF signs host agreement with Kazakhstan’s Ministry of Tourism and Sports and the Qazaq Cybersport Federation in Astana.
Astana has been confirmed as the host city for the IESF World Esports Championship 2027 (WEC27), following a host agreement signing ceremony involving the International Esports Federation (IESF), the Ministry of Tourism and Sports of the Republic of Kazakhstan, and the Qazaq Cybersport Federation.
IESF said the event is expected to draw participation across more than 150 IESF Member Federations through the qualifiers, with national teams competing via IESF-recognized national member structures.
“WEC27 will be more than a championship. It will be a global celebration of nations, athletes, and the future of esports,” said Vlad Marinescu, President of IESF. “For every player, there is no greater honor than competing under their national flag and officially representing their nation on the world stage. That is what makes the World Esports Championship so powerful and so unique. In 2027, Astana will welcome the world and proudly stand as the Esports Capital in the World of Esports, uniting our Member Federations, athletes, fans, and communities. Kazakhstan has shown remarkable vision, ambition, and commitment, and we are confident that WEC27 will deliver an unforgettable championship and a lasting legacy for the global esports family.”
Yerbol Myrzabosynov, Minister of Tourism and Sports of the Republic of Kazakhstan, said: “We are honored that the International Esports Federation has entrusted Kazakhstan with hosting the World Esports Championship 2027. This reflects the confidence in our country’s ability to deliver an event of the highest international standard. Hosting WEC27 reinforces our commitment to advancing esports and creating new opportunities for young people through sport, technology, education, and international cooperation. We look forward to welcoming the World of Esports to Astana and showcasing Kazakhstan as a destination capable of delivering world-class international events.”
Kuanyshbek Yessekeyev, Chairman of the Board of Trustees of the Qazaq Cybersport Federation, added: “We sincerely thank the International Esports Federation for the trust and confidence placed in Kazakhstan to host the World Esports Championship 2027. This is a historic milestone for our esports community and a testament to the progress we have achieved together with our partners. Alongside IESF, the Ministry of Tourism and Sports, and our national stakeholders, we are committed to delivering an outstanding championship for athletes, fans, and the World of Esports. WEC27 will inspire future generations, accelerate the growth of esports in Kazakhstan, and strengthen our country’s position as a leading esports and digital innovation hub.”
IESF said more details, including schedule, qualification pathway, venues, official titles, ticketing, and the event program, will be announced in the coming months via its official channels.
The post Astana to host IESF World Esports Championship 2027 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
QTech expands crash and fast games lineup with XUP Studio content
QTech has signed a new content agreement with XUP Studio to add more crash and fast games to its aggregation platform, extending its catalogue for operators across emerging markets including Latin America and Africa.
XUP Studio was founded in 2025 and is focused on crash and fast games. The studio said it is building new mechanics rather than relying on reskins. It currently has three games live, including Pingwin and Pigaboom, with four more in development and a further three planned for 2026.
Philip Doftvik, QTech’s CEO, said: “XUP Studio’s initial launch of some jaw-dropping crash and fast games is premised on clever mechanics, easily intelligible gameplay, high payouts and colourful graphics. This kind of content is well-suited to LatAm and African markets, which directly tracks our ongoing expansion throughout these territories. After such a dazzling beginning, we can’t wait to see what’s next from this rising star.”
Nikoloz Kadjaev, Co-Founder of XUP Studio, added: “Our idea was to build new mechanics in the fast and crash game segments. With the market flooded by reskins, XUP’s vision has always been to create something truly unique – not just visually, but mechanically as well. Emboldened by the breakout success of Pigaboom, our team will continue building games with mechanics that stand apart from everything else on the market. Having such a strong in-house think-tank enables us to carefully craft each product to a high standard. We are in no rush, never compromising on quality for faster delivery. In short, we don’t copy – we create something fresh that we would love to play ourselves.
“Partnering with QTech represents an ideal opportunity for us to strengthen our product distribution across emerging markets and deliver our fantastic crash games to more and more top-tier operators, unlocking untapped jurisdictions from Asia, through Africa and Eastern Europe, and on to Latin America for diversified growth.”
The post QTech expands crash and fast games lineup with XUP Studio content appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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