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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.
Canada
CasinoCanada announces partnership with Slota Casino
CasinoCanada.com has entered into a partnership with Slota Casino aimed at increasing the platform’s visibility and directing traffic from non-regulated Canadian markets.
As part of the collaboration, CasinoCanada will prepare and publish informational materials describing Slota Casino’s features and game offerings.
The partnership includes ongoing content development, efforts to increase platform visibility and user acquisition activities across CasinoCanada’s media channels.
CasinoCanada is an online casino guide focused on the Canadian market, operated by SEOBROTHERS.
Eugene Ravdin, Head of PR at SEOBROTHERS, commented:
“We focus on delivering accurate information about the Slota Casino platform while maintaining consistent content updates and supporting steady traffic growth across our channels.”
Slota Casino was launched in 2024 by GBL Solutions N.V. under a Curacao licence.
Slota Casino is operated by the Slota Partners affiliate program.
The platform provides access to more than 12,000 online casino games from 130 providers, including Play’n GO, Endorphina and Games Global.
A representative of Slota Casino said:
“We’re genuinely excited about teaming up with CasinoCanada. This is a major step forward for us.
The Canadian market has enormous potential, and partnering with a portal as respected as CasinoCanada gives our brand the visibility and credibility it deserves in this region.”
The post CasinoCanada announces partnership with Slota Casino appeared first on Americas iGaming & Sports Betting News.
Brazil
Esportes da Sorte has renewed its official sponsorship of the Parintins Folklore Festival for the 2026 edition
Esportes da Sorte has renewed its official sponsorship of the Parintins Folklore Festival for the 2026 edition.
The brand reinforces its strategy of promoting Brazilian culture after fostering an exchange between the North and Northeast regions during the Pernambuco Carnival.
Esportes da Sorte announced the renewal of its official sponsorship of the Parintins Folklore Festival for the 2026 edition.
Scheduled to take place from June 26 to 28, the event is part of the brand’s strategy to strengthen Brazilian cultural expressions and support the regional creative economy.
The continuation of the partnership follows a cycle of cultural integration promoted by the company over the past year.
In 2026, the group brought artistic references from the Parintins Festival to Recife Carnival by inviting Amazonian visual artist Iran Martins to design the brand’s parade float at Galo da Madrugada.
The project incorporated movement mechanisms and aesthetic elements inspired by the “bumbás” universe into the visual language of frevo.
Beyond brand exposure, the investment in Parintins is part of a positioning strategy focused on valuing Brazilian cultural identity and strengthening initiatives with strong regional ties.
“Our presence in Parintins goes beyond a branding action. It is a commitment to valuing Brazilian culture and the professionals who drive this creative ecosystem.
By bringing together references from the Parintins Festival and Recife Carnival, we show how different cultural expressions in the country can dialogue and create new connections.
We want to continue expanding this impact and contribute to keeping the bumbá tradition strong,” said Marcela Campos, Vice President of Grupo Esportes Gaming Brasil, owner of Esportes da Sorte.
Economic growth and new Bumbódromo
The Parintins Festival 2026 is expected to generate around R$193.2 million, a projected 5% increase compared to the previous edition. The forecast also includes approximately 30,000 direct and indirect jobs, as well as the arrival of around 126,000 tourists.
The audience will be welcomed in the new Bumbódromo, a structure with capacity for up to 25,000 people per day, which will become part of the festival’s expansion in the coming years.
Esportes da Sorte
Esportes da Sorte is one of Brazil’s leading sports betting platforms, with 100% national operations and a license granted by the Ministry of Finance (SPA/MF) to Esportes Gaming Brasil — the group that also owns the Onabet and Lottu brands.
The company is part of a Great Place to Work certified group and generates around 1,000 direct and indirect jobs. Its pillars include innovation, commitment to responsible gaming, and support for sector regulation.
It maintains strategic partnerships with institutions such as ANJL, IBIA, Sportradar, EBAC, and IAA, strengthening control practices, problem gambling prevention, and user protection.
In addition to sports betting, Esportes da Sorte invests consistently in sports, culture, and social projects. It is a master sponsor of clubs such as Corinthians, Ceará, Ferroviária, and Náutico, as well as supporting major cultural events like Galo da Madrugada, Carnival celebrations in cities such as Recife, Olinda, Salvador, Maceió, Natal, Caicó, Belo Horizonte, Rio de Janeiro, and São Paulo, and the Parintins Festival. The brand also expands its digital presence through creative campaigns and influencer partnerships, strengthening its connection with audiences across online platforms.
The post Esportes da Sorte has renewed its official sponsorship of the Parintins Folklore Festival for the 2026 edition appeared first on Americas iGaming & Sports Betting News.
Canada
Digicode to showcase Diger Suite at SBC Summit Canada 2026
Digicode will showcase its Diger Suite at SBC Summit Canada, taking place in Toronto from May 19–21, 2026.
At the event, the company will highlight how its product suite addresses evolving technical and partnership demands in Canada’s regulated iGaming market.
As the market moves beyond initial entry and into a phase defined by performance, scalability, and compliance, operators are re-evaluating their technology foundations.
Digicode’s Diger Suite is built to support this shift, offering a modular architecture that enables faster adaptation to regulatory changes, improved system reliability, and more efficient operations.
Aligned with the summit’s 2026 theme, “Partnerships, Performance, and Market Reality,” Digicode will demonstrate how its technology supports sustainable growth.
The Diger Suite equips operators with tools to manage complex integrations, streamline localized payment processing, and ensure compliance with responsible gaming requirements.
Its AI-driven framework automates backend workflows while maintaining strict standards for security and uptime.
“The Canadian market has entered the phase of operational maturity where the focus is no longer on expansion alone but on improving efficiency and long-term profitability,” said Elkhan Shabanov, CEO of Digicode Americas.
Operators are looking for solutions that not only meet regulatory demands but also enable them to scale efficiently and maintain control over their platforms.”
During the summit, Digicode’s team will engage with industry stakeholders on topics including AI adoption in product development, modernization of legacy systems, and the transition away from traditional SaaS and revenue-share models toward full platform ownership.
The company aims to help operators regain control of their technology stack, reduce dependency on third-party vendors, and build scalable, compliant solutions tailored to their business needs.
About Digicode
Digicode is a full-cycle AI-enabled product development company that designs and delivers enterprise digital solutions for organizations in complex, regulated environments.
Digicode supports clients with enterprise systems, integrations, and long-term software development. The company operates internationally and prioritizes projects where ownership and technical responsibility remain with the client.
The post Digicode to showcase Diger Suite at SBC Summit Canada 2026 appeared first on Americas iGaming & Sports Betting News.
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