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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.
Booming Games
Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win
Booming Games, a top supplier of high-quality gaming content, has introduced Gold Gold Gold Hold and Win today. The game features a 5×3 layout with 25 paylines, offering significant risks with a top payout of 2,000 times the wager. Offering instant cash prizes at the end of each spin, Gold Gold Gold Hold and Win delivers an exceptional experience for players in search of high-stakes excitement.
The game includes a variety of bonus features. Landing six or more coin symbols activates the Hold and Win bonus, initiating a high-stakes re-spin round. Beginning with three re-spins, each additional coin resets the re-spin total, continuing the round. The opportunity to win immediate cash rewards, including Mini, Major, or Grand bonuses that can reach up to 1000 times the total wager, significantly enhances the thrill of the game.
In addition, players who hit three Scatter symbols will receive eight Free Spins. From this point onward, only premium symbols show up on the reels, including Wilds, Bells, Stars, Gold Bars, and Clovers. Featuring only high-paying symbols, each spin is designed to enhance the likelihood of securing significant combinations, and Free Spins can be retriggered, generating payout possibilities with every spin.
Craig Asling, Director of Games at Booming Games, said: “The treasure hunt is on. With a golden chance to strike it rich, Gold Gold Gold Hold and Win is our latest must-play slot. With thrilling bonus features that keep the action going, players can enjoy the potential to unlock massive returns and feel that they are always one spin away from striking gold.”
The post Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Blueprint Gaming
Blueprint Gaming names Mattia Luchesini Head of International Account Management
Blueprint Gaming has named Mattia Luchesini as Head of Account Management – International, enhancing its commercial leadership as the company continues to grow in regulated markets.
In his new position, Mattia will oversee Blueprint’s global account management function, prioritizing the establishment of strategic operator partnerships and fostering ongoing growth in vital regions. He will collaborate closely with commercial, product, and delivery teams to guarantee that partners receive support through a cooperative, value-oriented strategy.
Mattia comes to Blueprint from Games Global, where he dedicated more than two and a half years to senior account management positions, fostering robust relationships with operators throughout EMEA and acquiring substantial experience in international market dynamics.
This recent appointment demonstrates Blueprint Gaming’s ongoing investment in its commercial strengths, guaranteeing that partners receive support from seasoned leadership while the company advances its growth strategy.
Mattia Luchesini, Head of Account Management – International at Blueprint Gaming, said: “It’s a great opportunity to join Blueprint at a time of strong international momentum.
“The business has a clear vision and a reputation for working closely with its partners, and I’m looking forward to contributing to that approach while helping to drive growth across global markets.”
Matt Cole, Managing Director at Blueprint Gaming, added: “Mattia brings valuable international experience and a strong understanding of what operators need from a long-term content partner.
“His appointment supports our continued focus on strengthening relationships and delivering a high standard of account management as Blueprint grows its global footprint.”
The post Blueprint Gaming names Mattia Luchesini Head of International Account Management appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Denmark
RoyalCasino Partners with ScatterKings for Company’s Danish Launch
Rapidly expanding provider enters one of Europe’s most established regulated markets with its initial local operator partnership now operational.
ScatterKings has launched in Denmark’s regulated iGaming sector through a collaboration with RoyalCasino, a major online casino operator in the country, following the acquisition of a licence from the Danish Gambling Authority (Spillemyndigheden).
Players at RoyalCasino will enjoy access to ScatterKings’ collection of carefully designed games, such as Coins of Cleo and the anticipated Big Bob’s Gold, introducing new innovation to one of Europe’s most regulated and advanced markets.
Featuring precise calculations, captivating audiovisual elements, and built on a dependable AI- and cloud-driven platform, ScatterKings’ games provide seamless integration, steady performance, and an immersive experience for players in various regions.
Denmark’s strict regulatory framework and advanced market conditions position it as a logical progression for ScatterKings’ international growth plan, subsequent to their expansion into Austria at the close of 2025. Approval from Spillemyndigheden highlights the studio’s dedication to high-quality, compliant entertainment of the utmost standard.
RoyalCasino.dk is managed by the RoyalCasino Group, which boasts over 30 years of experience in the Danish gaming sector. The organization initially launched Royal Casino Aarhus in 1991, then ventured online in 2016, establishing itself as one of the nation’s most reliable casino brands.
ScatterKings remains focused on quality and craftsmanship, with each title being a passionate effort that combines established mechanics with daring artistic vision and unwavering performance. Created by a skilled team and supported by knowledgeable industry experts, the provider’s content is crafted to be distinctive and function flawlessly.
Steven Cross, CCO at ScatterKings, said: “Securing our Danish licence is a huge achievement for the team as we expand our global footprint and is a clear signal of where we’re heading as a studio. Denmark is one of the most respected markets in Europe, so entering it with a partner like RoyalCasino makes this launch even more special.
“RoyalCasino’s heritage aligns perfectly with our ambitions for ScatterKings. We’re incredibly proud to see our games live with such an iconic Danish brand, and this is only the beginning.”
Per Petersen, CEO at RoyalCasino Group, said: “With their stellar iGaming track record and dedication to succeed, ScatterKings impressed us instantly. Their ever-expanding games portfolio offers up true quality games made with genuine craftsmanship, and I expect we’ll see a lot more from them in the future. As one of Denmark’s largest online casino operators, we are highly selective about the partners we work with, and we’re delighted to be partnering with ScatterKings.
“We’re excited to be ScatterKings’ first partner as they enter the Danish market and look forward to providing a truly excellent experience for our customers.”
The post RoyalCasino Partners with ScatterKings for Company’s Danish Launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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