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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.

Danny Gordon Head of Studio at DEGEN Studios

DEGEN Studios unleashes the Plague City chase

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DEGEN Studios has launched Plague City, a Scatter Pays slot built around visible progression, escalating features and a 10,000x max win chase. Every winning combination spreads infection across the reels, creating bigger setups as players build towards Plague Wave Respins, Plague Breakout Free Spins and Super Free Spins.

During the base game, any position that forms part of a winning combination becomes infected, and as wins and cascades continue, the outbreak can spread across more of the reels.

A Med Kit should stop the outbreak. In Plague City, it starts the next stage. Landing a Med Kit while infected positions are active triggers Plague Wave Respins, where infected positions remain active, Wilds become sticky with multipliers, and Respins continue until every infected position has been healed or no further wins occur.

Every Sticky Wild begins with three lives. Each winning cascade reduces a Wild’s life by one, while every newly landed Wild increases the multiplier value of all active Wilds, allowing multiplier chains to continue growing throughout the feature.

The chase escalates further in Plague Breakout Free Spins. Triggered by four, five or six Scatters, every Free Spins feature begins with eight Free Spins. Scatter symbols are replaced by Vaccines, which award retriggers and upgrade the Starting Wild Multiplier, allowing future Wilds to land with increasingly higher multiplier values.

Land six Scatters and the outbreak reaches Super Free Spins, where every newly landed Wild increases the multiplier value of all active Wilds by +2x. From there, the max win chase becomes a race to collect Vaccines, extend the feature and continue landing new Wilds as multiplier chains grow towards 10,000x the bet.

For players looking to accelerate the chase, Buy Bonus and Activate options offer direct entry into Plague Breakout Free Spins, Mystery Buy, or boosted chances of triggering both Free Spins and Plague Wave Respins.

Danny Gordon, Head of Studio at DEGEN Studios, said: “At DEGEN, we’re obsessed with building gameplay that players can actually follow. In Plague City, every mechanic has a purpose. The infection spreads, Vaccines extend the feature, Wild multipliers continue growing and every step brings the max win chase closer.”

The post DEGEN Studios unleashes the Plague City chase appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Hub88 adds AccaMAX slots and crash games to its aggregation platform

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SlotsMAX and CrashMAX titles roll out via one-click access for Hub88’s operator partners, alongside tiered progressive jackpots.

Hub88 has signed a content distribution deal with AccaMAX to add the studio’s slots and crash portfolio to its aggregation platform, making the content available to Hub88’s operator partners via one-click access.

Under the agreement, AccaMAX’s catalogue will be delivered through Hub88, including the provider’s SlotsMAX and CrashMAX collections. The companies said the integration will also include AccaMAX’s four-tier progressive jackpot network.

Hub88 said AccaMAX’s titles are tested for “fairness, performance and regulatory compliance across all major jurisdictions,” positioning the content for multi-market operator rollouts.

Ollie Castleman, Managing Director at Hub88, said: “AccaMAX has been making waves over the last year, since the launch of its SlotsMAX library in 2025. With a broad range of themes and a highly motivating jackpot system, the supplier is a welcome addition to our platform. We are excited to deliver their portfolio and see what other surprises await in their roadmap this year.”

Christo Bezuidenhout, CPO at AccaMAX, said: “Partnering with Hub88 means operators can enable our entire product offering in a single step, with none of the usual integration overhead. Every title we ship is crafted for entertainment value and tested for compliance across major markets, and this partnership puts that quality in front of operators worldwide. We’d encourage anyone already on the Hub88 network to switch us on and see the difference for their players.”

The post Hub88 adds AccaMAX slots and crash games to its aggregation platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Gaming Corps expands Entain deal with Ontario live and Alberta launch planned

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Supplier content is already live on BetMGM in Ontario, with Party Casino & Sports Interaction lined up ahead of Alberta’s July iGaming opening.

Gaming Corps has expanded its partnership with Entain, extending distribution of its casino content across more Entain brands and markets, with Canada positioned as a key near-term focus.

The supplier went live with Entain’s joint venture BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Gaming Corps and Entain are also preparing for Alberta’s regulated iGaming market opening in July, with Gaming Corps content “ready to go live from day one with BetMGM” and Party Casino & Sports Interaction to follow.

Outside Canada, Gaming Corps said it completed a full content launch in Brazil with Sportingbet and Betboo in May, and launched 3 Pigs of Olympus exclusively across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June. The company also said additional launches are being prepared for Portugal, Spain and New Zealand.

The latest phase includes football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, alongside the supplier’s 3 Pigs IP. Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.

“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.

“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”

Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”

The post Gaming Corps expands Entain deal with Ontario live and Alberta launch planned appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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