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Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements

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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.

Atlaslive

Operational Friction at Scale: Infrastructure Risks in Online Casinos

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This article is part of Atlaslive’s series examining vulnerabilities in online casino operations and how established operators can address them proactively.

The series highlights critical exposure areas, including cybersecurity threats, KPI red flags, financial leakage, platform and infrastructure weaknesses, and compliance challenges. The final article will present mitigation principles recommended by Atlaslive specialists.

Focusing on Infrastructure and Platform-Level Risks

As online casinos scale, structural vulnerabilities often emerge, revealing weaknesses in technical architecture. These issues typically remain hidden during early development and only appear under stress—such as peak traffic, new market launches, major campaigns, or rapid product expansion.

Common Structural Risks Include:

  • System latency during high-load periods

  • Gaps in integration between payments, CRM, and other platforms

  • Delays in reporting pipelines

  • Limited real-time data visibility

  • Fragmented architecture requiring manual intervention in risk, bonus, or payment processes

Beyond Uptime: Performance Quality Matters

Infrastructure issues affect more than system stability. Latency disrupts in-play sessions, reporting delays slow decision-making, and poor integrations increase manual workloads while reducing responsiveness to fraud or behavioral anomalies.

For mature operators, resilience is measured not just by uptime but by seamless communication across verticals—sportsbook, casino, payments, CRM, and risk management—without friction. True scalability maintains performance quality even as operational complexity grows.

Reducing Operational Friction

As scale outpaces architecture readiness, operational friction rises: manual interventions increase, visibility decreases, and response times to emerging risks slow. Atlaslive experts emphasize the importance of structured system communication, real-time data access, and integrated workflows to sustain stability under growth.

Infrastructure vulnerabilities rarely appear overnight; they evolve gradually as operations expand.

To explore Atlaslive’s insights on cybersecurity threats, KPI red flags, financial leakage, regulatory exposure, and recommended mitigation strategies, visit the full article on the Atlaslive blog.

About Atlaslive

Atlaslive is a B2B software developer delivering a multifunctional, automated platform for sports betting and casino operators. Core components include Sportsbook, Casino, Risk Management & Anti-Fraud Tools, CRM, Bonus Engine, Business Analytics, Payment Systems, and a Retail Module. Follow Atlaslive on LinkedIn for the latest iGaming technology updates.

The post Operational Friction at Scale: Infrastructure Risks in Online Casinos appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Fanatics Casino

RLX Gaming expands US reach through Fanatics Casino launch

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RLX Gaming, the innovative iGaming aggregator and content supplier, has officially launched its full portfolio with Fanatics Casino in the United States.

Players in New Jersey and Pennsylvania can now access RLX Gaming’s extensive library of in-house and third-party titles, following a soft launch in Pennsylvania. Leading slot hits like Temple Tumble, Bonsai Dragon Blitz, and The Great Pigsby are now live, alongside a broad selection of releases from some of the most creative studios in the industry.

Fanatics Casino, available in Michigan, New Jersey, Pennsylvania, and West Virginia on iOS and Android, offers a wide variety of classic and modern casino experiences, including slots, blackjack, roulette, progressive jackpots, and video poker. Each game is designed to deliver authentic casino action, ensuring endless entertainment for players.

This partnership marks a significant step in RLX Gaming’s mission to deliver dynamic, globally-ready content that drives innovation and engagement in the online casino space.

Matthew Hockenjos, Commercial Account Manager for North America at RLX Gaming, said:

“Our collaboration with Fanatics Casino represents a major milestone for RLX Gaming as we strategically broaden our footprint across North America. Fanatics Casino’s commitment to delivering top-tier entertainment aligns perfectly with our mission, and we’re thrilled to bring our engaging slot experiences to players in New Jersey and Pennsylvania.”

Kieron Shaw from Fanatics Casino added:

“We are delighted to integrate RLX Gaming’s captivating portfolio into our platform. This partnership reinforces our dedication to offering a premier online casino experience, giving players access to high-quality titles with proven appeal across New Jersey and Pennsylvania.”

The post RLX Gaming expands US reach through Fanatics Casino launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Gen Z

Traffic and Gen Z: What actually works?

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O brave new world… Greetings to everyone who keeps running traffic in these turbulent times, where the rules of the game change faster than we can update our creatives. Regulations are tightening, social platforms constantly rewrite their policies, and search engines keep updating their algorithms, that’s already the new normal. But there is another factor influencing the market just as much. A new generation has grown up, reached adulthood, and is entering categories that were dominated by millennials just yesterday. We’re talking about Gen Z and those coming right after them, generation Alpha.

There’s a lot of discussion about them. But the team at Moon Partners wants to look at this topic from a more practical angle, not through the lens of generational theory, but through traffic performance.

Who are Gen Z as an audience?

This is the first fully digital-native generation. They don’t just use smartphones, they’ve never known life without them. They grew up inside social media algorithms, and by the age of 18 they’ve seen more advertising than previous generations did in their entire lives. And because of that, they’ve learned to filter it. They almost never click “just because”. If content doesn’t build trust within the first few seconds, for them it simply doesn’t exist.

Another important factor is gamification and convenience. The more dynamic and engaging the experience is, the better. At the same time, everything must be comfortable and fast. Responses to user actions should be immediate, because patience is limited and people expect results right away.

Sounds like a challenge. Let’s look at what kind of strategy can work with this audience.

Creative preparation

At this stage, we recommend not treating Gen Z as a single segment. The 21–26 age range is only a demographic label. In reality, this audience is made up of many different micro-communities. These may include gamers, crypto enthusiasts, sports fans, self-improvement communities, streamer audiences, Discord communities, and many other niche groups with their own interests and communication styles. So the first step is deciding which context you want to enter. Approaching this audience without segmentation often leads to wasted budget. Gen Z responds strongly to personalization. Content should feel aligned with their interests, almost as if you already understand the environment they live in. Of course, this requires some research. But we never said this would be easy.

Platform choice

When working with Gen Z, choosing a platform is not just a technical decision, it’s a strategic one. They perceive each platform as its own culture, with its own language, pace, and level of trust. Our goal is to speak their language and appear naturally in their environment. Not as someone trying to interrupt their world, but as something interesting that appears organically in their feed. Remember those early-2000s movies with model castings where judges would say “Thank you, next” the moment something didn’t fit? Gen Z treats their feeds exactly the same way.
They will scroll past almost everything, but they will choose only a few pieces of content to engage with.That’s why creatives on social platforms must look like a natural part of the feed. The first seconds decide everything. If content feels out of place, it simply gets skipped.
For push and pop traffic, aggressive clickbait usually doesn’t work well. For native and search traffic, users often double-check information about projects, read reviews, and research products before engaging. This is why it’s important to work with clean products that have a solid reputation.
So the strategy is simple: choose the right platform and adapt your content specifically for it.

A small case study

At Moon Partners, we’ve seen how the behavior of younger audiences changes in practice. One of our affiliates tested an iGaming offer targeting users aged 21–26. The initial creatives were standard for the vertical, banner ads with a bonus offer and a direct registration CTA. However, CTR stayed around 0.4%, and most users simply scrolled past the ads.
After analyzing the audience, it became clear that a large portion of the traffic overlapped with gamer and streamer culture. The creatives were redesigned. Instead of banner ads, the affiliate launched short videos styled as clips from a live stream, where the character “tested their luck” and commented on the gameplay in a familiar, entertaining style.
The content looked like a natural part of the feed rather than a typical advertisement. As a result, CTR almost tripled, and landing page conversions improved noticeably.

For us, this once again confirmed a simple insight: Gen Z reacts far better to content that feels like part of their environment rather than direct advertising.

The takeaway

At this point it becomes clear that what works best with this audience is subtlety and context. The era of simple, straightforward creatives is gradually fading. Marketers need to adapt to new realities, create more native experiences, integrate with audience interests, do deeper research, and stay aware of current trends. This doesn’t mean that traditional approaches no longer work at all. But we are clearly in a transition period, and those who fail to adapt may quickly lose relevance.

If you are exploring traffic opportunities with younger audiences, the Moon Partners team is always open to communication. We’re happy to share our experience, insights, and discuss collaboration formats that work for everyone. Because for us, affiliate marketing is about more than numbers, it’s about honest partnerships, real conversations, and win-win collaborations.

The post Traffic and Gen Z: What actually works? appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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