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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.

ELA Games

Glory & Honour Await the Strongest Gladiators in ELA Games’ Newest Game, Roman Fortune

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All reels lead to Rome in ELA Games’ newest atmospheric and bold slot.

ELA Games creates an immersive adventure in its latest title, Roman Fortune. Players battle for glory and honour in the heart of ancient Rome, where every spin carries the might of an empire.

Roman Fortune takes place in a roaring Colosseum under Caesar’s watchful eye, where fortunes wait for the victors. Designed with ELA Games’ signature visual richness and refined gameplay, this new title balances entertaining gaming experiences with operator-focused value, building on previous successes, such as Piñatas Festival.

Caesar’s Riches: Features that Favour the Brave

Roman Fortune offers several features that build excitement and depth for the player, ensuring action on every spin.

  • Scatter Symbols: Collect Scatters to earn Free Spins — the more you collect, the greater the prize.
  • Caesar Wilds: At any moment, a Caesar Wild may appear to spread wealth across the reels or even trigger the Hold & Win Bonus.
  • Hold & Win Bonus: In this feature, players encounter Red, Blue, and Green Coins, each with their own imperial strengths. Red Coins multiply prizes, Blue Coins unlock Jackpots, and Green Coins collect all visible values for greater wins.

Gladiators can activate all of these features at once, where glory and honour will rain down on the victor.

An Experience Built for Impact

Just like the actual intense clashes that occurred in the Colosseum in ancient Rome, Roman Fortune is crafted for players who enjoy an atmospheric experience with excitement, tension, and memorable moments.

The game’s 95.99% RTP and high volatility ensure that even the base game has plenty of action. Roman Fortune embodies ELA Games’ game creation philosophy, where creativity and strategic development work together to deliver a product that delivers sustained engagement and strong performance for its partners

Marharyta Yerina, Managing Director of ELA Games, commented on the release, “Roman Fortune is a visually forward title that captivates players’ imaginations with thrilling battles in an ancient arena. Every detail exists to create a world players can step into and instantly feel connected to. The game’s bold theme, supported by strategic mechanics and layers of atmosphere, shows what our team does best: creating experiences players enjoy while providing value for our partners.”

Enter the Arena For Eternal Glory

Step into the Colosseum and fight for your place in history.

The post Glory & Honour Await the Strongest Gladiators in ELA Games’ Newest Game, Roman Fortune appeared first on European Gaming Industry News.

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Dinos Doxiadis Head of Sportsbook Business at GR8 Tech

GR8 Tech Expands Virtual Sports Portfolio with New Basketball Offering, Deepens Localization Strategy

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GR8 Tech has expanded the virtual sports lineup within its ULTIM8 Sportsbook with a new range of virtual basketball, continuing a year of investment in the category that has already seen the addition of virtual horse racing and virtual cricket roulette—a unique format blending casino mechanics with the sport of cricket.

The expansion builds on GR8 Tech’s established strength in cricket, where the company developed one of the industry’s most comprehensive betting lines. Virtual cricket was designed to fill gaps between real-world tournaments, giving operators a way to maintain player engagement year-round—a model now being applied to basketball for markets where the sport dominates.

This content independence stems directly from GR8 Tech’s in-house trading capabilities.

One of the things that GR8 Tech stands out for is the quality of the trading and the fact that we perform extremely well in very difficult environments, like Asia,” said Dinos Doxiadis, Head of Sportsbook Business at GR8 Tech. “Even our clients’ players in these challenging markets don’t behave like typical players in ‘easier’ regions such as Latin America, we still manage to achieve some of the highest margins there.

That trading foundation enables GR8 Tech to build and localize content for specific markets rather than relying solely on third-party providers.

We already have a very strong sportsbook, and now we’re scaling our processes and output capabilities to take it even further,” Doxiadis explains. “We’re improving the product and creating the conditions to localize very quickly and offer a truly localized experience across the world.

GR8 Tech is also investing in infrastructure to give operators greater control over how they deploy this content.

The goal is to put even more power into the hands of our operators so they can tailor the product exactly as they want. As we move forward with new data and content agreements, they’ll gain an even greater ability to adapt the sportsbook to their specific needs—on top of what they can already do today.

Personalization is central to that roadmap. “We have delivered quite a few recommendation models, and right now we can serve custom content on a user level, and we will continue working in this direction,” said Doxiadis. “We have a very good infrastructure and baseline to invest in.

The post GR8 Tech Expands Virtual Sports Portfolio with New Basketball Offering, Deepens Localization Strategy appeared first on European Gaming Industry News.

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Make-A-Wish® and Lords Mobile Unite This Thanksgiving Season to Bring Hope to Children Through Mobile Charity Event

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From November 26-30, Lords Mobile players worldwide can help grant life-changing wishes for children with critical illnesses through a global in-game charity challenge.

Make-A-Wish®, the world’s leading wish-granting organization, is delighted to announce a special collaboration with IGG, the global developer and publisher of hit mobile titles.

This Thanksgiving season, the two organizations are coming together to transform the spirit of gratitude into global impact through a community charity challenge inside Lords Mobile.

From November 26 to 30, 2025, players from around the world will unite across their respective Kingdoms to combine play with purpose. By completing five days of in-game quests and collecting 30 event points, players can unlock the exclusive “Wish Upon a Star” Decoration – a special symbol of hope within the Lords Mobile world.

Once 50,000 players across the global server have claimed the Wish Upon a Star Decoration, IGG will donate $50,000 USD to Make-A-Wish to help grant life-changing wishes for children with critical illnesses. The donation will support wishes in the USA, Indonesia, Brazil, Germany, Singapore, and Korea.

Players who wish to enhance their event experience can also purchase four in-game packs priced at USD 4.99 or above to unlock premium rewards such as Mystic Carpets, Royal Coins, and more.

April Stallings, Charitable Gaming and Creators Community Manager at Make-A-Wish International said:

“Thanksgiving is a time for reflection, generosity, and connection. We’re deeply grateful to IGG and the global Lords Mobile community for harnessing their passion for play to help make life-changing wishes come true. Together, we’re turning the power of gaming into the power of hope.”

As players unite to achieve their community goals, Make-A-Wish will highlight real wish stories from participating countries, connecting the in-game achievements to the life-changing impact they help create.

Together, IGG and Make-A-Wish are showing the power of the gaming community to make a difference.

The post Make-A-Wish® and Lords Mobile Unite This Thanksgiving Season to Bring Hope to Children Through Mobile Charity Event appeared first on European Gaming Industry News.

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