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

Published

2 years ago

May 2, 2024

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.

Related Topics:latest-news Press Releases Rivalry

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Booming Games teams up with Agreegain to power continued African growth

Published

11 minutes ago

March 10, 2026

Wladimir P.

booming-games-teams-up-with-agreegain-to-power-continued-african-growth

Booming Games has teamed up with Agreegain to drive growth in various markets throughout Africa.
Booming Games will utilize Agreegain’s aggregation platform to link with casino operators throughout the continent.

Booming Games, a top supplier of high-quality gaming content, has today revealed a strategic alliance with Agreegain, a rapidly expanding iGaming solutions provider. This action will stimulate a fresh surge of growth for Booming Games throughout Africa, as the company aims to quickly broaden its international footprint in regulated markets.

The collaboration will link Booming Games with numerous casino operators in Africa via Agreegain’s game aggregation platform, employing advanced technology to provide compliant, quick integrations effortlessly. Booming Games’ titles will be accessible on Agreegain’s API platform, utilized by top operators throughout Africa. The platform features more than 10,000 games, which encompass slots, live casino options, and table games.

Booming Games is launching more titles than ever and aims to enhance both the quantity and quality of its lineup in 2026. Teaming up with Agreegain further exemplifies its commitment to delivering top-notch games to players worldwide, as Booming Games will extend the availability of these titles throughout Africa.

The collaboration reinforces Booming Games’ dedication to providing an exceptional experience for players through the use of advanced technology. With each new game, Booming Games also creates customized content for specific markets. The gaming sector in Africa has recently exceeded $600 million in revenue, presenting a distinct opportunity for Booming Games to grow its offerings.

Solomon Godwin, Head of Africa at Booming Games, said: “We are thrilled to announce our new strategic partnership with Agreegain, marking an exciting milestone forward in enhancing our gaming offering. This collaboration strengthens our commitment in delivering innovative gaming experience and engaging gameplay to players globally.”

Maria Afzaal, Senior Partner Manager at Agreegain, said: “Partnering with Booming Games marks an exciting step forward in expanding our portfolio with a leading provider known for its dynamic and engaging slot content. Licensed in all major jurisdictions, most notably Malta and the United Kingdom, Booming Games demonstrates a strong commitment to quality, compliance, and innovation — making them a valuable addition to our growing network of trusted global partners.”

The post Booming Games teams up with Agreegain to power continued African growth appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

EveryMatrix

EveryMatrix expands global lottery footprint with NASPL membership

Published

11 minutes ago

March 10, 2026

Wladimir P.

everymatrix-expands-global-lottery-footprint-with-naspl-membership

Leading iGaming technology provider EveryMatrix has expanded its global national lottery footprint by becoming a member of the North American Association of State & Provincial Lotteries (NASPL), reinforcing the company’s long-term commitment to the North American market.

NASPL membership highlights EveryMatrix’s strategy of supporting public-sector lotteries as it continues to grow its presence across the continent while strengthening its visibility and credibility within the US lottery ecosystem.

Across the United States, multiple lotteries are currently investing in or exploring digital transformation and omnichannel player engagement initiatives, with a strong focus on responsible gaming. These are areas where EveryMatrix has extensive experience, having delivered large-scale technology solutions to major European lottery operators.

The tier-one turnkey platform supplier already works with several of Europe’s largest national lotteries and holds Associate membership with both the World Lottery Association (WLA) and European Lotteries (EL). In August 2025, the company also joined CIBELAE as an Associate member, the WLA’s regional organisation covering more than 80 Spanish- and Portuguese-speaking jurisdictions across Latin America, Central America, Spain and Portugal.

EveryMatrix has built a reputation as one of the most trusted B2B platform providers to regulated lottery markets worldwide, partnering with leading national operators such as Veikkaus (Finland), Norsk Tipping (Norway), OPAP (Greece), National Lottery Malta, Danske Spil (Denmark) and Szerencsejáték Zrt. (Hungary).

Nikolina Gabelica, Head of Lottery at EveryMatrix, said:
“For EveryMatrix, joining NASPL represents a long-term commitment. We work closely with several leading European national lotteries and understand the balance between innovation, regulation and public responsibility.

“Combined with our broader experience across regulated iGaming markets globally, we bring practical insights and advanced technology to the US lottery community, and we look forward to building and strengthening meaningful relationships there.”

The post EveryMatrix expands global lottery footprint with NASPL membership appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Canada

Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market

Published

11 minutes ago

March 10, 2026

Wladimir P.

wazdan-taps-green-brick-labs-partnership-via-maverick-games-to-strengthen-ontario-market

Wazdan, the top developer focused on gaming, has initiated its collaboration with Green Brick Labs (GBL) following the launch of several of its titles with Maverick Games, the well-known operator based in Ontario.

The agreement entails an initial selection of Wazdan’s best-performing titles being launched with Maverick Games through an integration from GBL’s seamless aggregation platform, featuring Mighty Fish: Blue Marlin, 36 Coins, Mighty Wild: Panther Grand Diamond Edition, and Mighty Wild: Gorilla.

After Wazdan’s recently disclosed alliance with GBL, the quickly developing North American platform provider, the partnership has now made significant progress by launching with Maverick Games, featuring its extensive slot collection and sportsbook services.

Wazdan’s captivating games and interaction-enhancing features, such as Cash to Infinity, Sticky to Infinity, and the Hold the Jackpot bonus game, are poised to enhance Maverick Games’ collection as it aims for greater growth across North America.

Wazdan’s newest collaboration highlights the studio’s goal to further establish itself in regulated iGaming markets globally, offering players cutting-edge slot experiences.

Magdalena Wojdyla, Head of Account Management at Wazdan, said: “Going live with Maverick Games through our partnership with GBL marks an exciting moment for Wazdan in Ontario.

“Our innovative titles and engagement-boosting features are designed to deliver memorable experiences for players, and we are confident this collaboration will help Maverick Games strengthen its position in one of North America’s most dynamic markets.”

James Gummerson, UX/UI and Product Manager at Green Brick Labs, said: “We are thrilled to launch our collaboration with Wazdan.

“Our mission is to connect operators with world-class content quickly and seamlessly, and this launch demonstrates how our technology helps accelerate growth for both suppliers and operators in North American markets.”

The post Wazdan taps Green Brick Labs partnership via Maverick Games to strengthen Ontario market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.