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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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SetantaBET picks LuckyStreak for live dealer and casino aggregation deal

Published

2 hours ago

July 15, 2026

Wladimir P.

setantabet-picks-luckystreak-for-live-dealer-and-casino-aggregation-deal

LuckyStreak, the live casino and content aggregation provider, has agreed a partnership with SetantaBET, the gaming and betting arm of leading sports media and entertainment business Setanta Sports.

The partnership gives the broadcaster-backed operator access to LuckyStreak’s live Roulette, Blackjack and Baccarat, plus more than 6,000 casino games from over 60 providers through a single integration.

The companies said the rollout is planned to launch prior to the 2026 World Cup and follows SetantaBET’s launch in Georgia, as the operator looks to scale using the wider Setanta Sports ecosystem.

Ady Totah, CEO and Co-founder of LuckyStreak, said: “SetantaBET is a new and fast-growing operator backed by the strength, reach and reputation of the Setanta brand. Their ambitions for the business are clear, and through LuckyConnect and our live dealer portfolio, we’re giving their players access to a diverse portfolio of thousands of world-class games through a single integration, while equipping their team with the content, flexibility and scalability needed to support growth across multiple markets.

Combined with our operational expertise and industry experience, we believe this creates a strong foundation for a successful long-term partnership. We’re proud that SetantaBET chose LuckyStreak as their launch content partner, and we look forward to helping the business realise its ambitions in the years ahead.”

Tamar Badashvili, CEO at SetantaBET, added: “We are excited to partner with LuckyStreak and further strengthen SetantaBET’s casino offering. This collaboration allows us to expand our game portfolio with content from leading providers and deliver even more entertainment and choice to our players.”

The post SetantaBET picks LuckyStreak for live dealer and casino aggregation deal appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Abrajogo

SCCG Management Launches Dedicated SCCG Brazil Division with Local Partner Thomas Carvalhaes

Published

2 hours ago

July 15, 2026

GamingAmericas.com

sccg-management-launches-dedicated-sccg-brazil-division-with-local-partner-thomas-carvalhaes

New entity positions SCCG to serve international operators, investors, and technology providers entering Latin America’s largest regulated gaming market.

SCCG Management announces the formation of SCCG Brazil, a dedicated advisory entity built to serve the Brazilian gaming and iGaming market. The new division is led jointly by SCCG founder Stephen A. Crystal and Thomas Carvalhaes, a veteran of Brazil’s gaming ecosystem, who joins as Partner and co-manager of the operation.

The launch follows SCCG’s May 2026 establishment of its broader Latin American division and Miami office, which anchored the firm’s expanded presence across Spanish-speaking markets. Brazil, with its distinct regulatory framework, Portuguese-language market, and scale, has always warranted a dedicated approach. SCCG Brazil is that approach.

Why Brazil, why now

Brazil’s newly regulated gaming market is now the largest in Latin America and one of the fastest-growing in the world. In its first year under Law No. 14,790/2023, the regulated sector generated an estimated BRL 37 billion in gross gaming revenue, with 79 licensed operators serving approximately 25 million active bettors. The government collected close to BRL 10 billion in tax revenue, far exceeding initial projections. Market analysts project the sector to surpass USD 9 billion in annual revenue by 2033.

This is not a new market for SCCG. The firm has maintained a presence in Florianopolis, Brazil for nearly two decades, supporting clients across sports betting, iGaming technology, and gaming infrastructure. What has changed is the regulatory clarity. With the Secretariat of Prizes and Bets (SPA) now fully operational under the Ministry of Finance and a permanent licensing framework in place, Brazil has moved from a high-potential gray market to a structured, investable, and compliance-driven environment.

“We have been working in Brazil longer than most people realize. The difference now is that the market has caught up to where we always believed it would go. With Thomas on the ground and our global network behind him, SCCG Brazil is built to move at the speed this market demands.”

— Stephen A. Crystal, Founder and CEO, SCCG Management

Leadership on the ground: Thomas Carvalhaes

Thomas Carvalhaes is a senior executive, board advisor, and one of the most influential strategists behind the consolidation of the sports betting and iGaming landscape in Latin America. As the CEO and Founder of TC iGaming Advisors and a founding advisory board member for Next.io LATAM, Thomas brings over 15 years of continuous leadership to the sector, specializing in market entry strategies, operational excellence, and complex regulatory compliance for global Tier-1 operators.

Throughout his career, he has steered multi-million dollar operations and commercial pipelines through evolving jurisdictional frameworks, having served as Country Manager and CEO for Stake in Brazil, alongside key leadership and strategic roles at Betway, LeoVegas, Hero Gaming, and Salsa-Betmotion. His expertise merges sharp regulatory intelligence with localized, high-performance business development, including the structuring and integration of innovative fintech solutions and instant localized payment frameworks such as the Pix ecosystem.

Thomas is a founding member of ABRAJOGO (Brazilian Gaming Association), playing an active role in driving industry-wide ethical standards and operational sustainability. Trilingual and fluent in English, Portuguese, and Spanish, he is a globally recognized industry voice who frequently features as a keynote speaker and panel moderator at the world’s premier gaming summits, including the SBC Summit, EGR, and SiGMA.

What SCCG Brazil does

SCCG Brazil will operate across SCCG Management’s established advisory workstreams, tailored for the Brazilian context:

Strategic Advisory: Regulatory navigation, market entry strategy, and M&A advisory for operators and investors targeting Brazil’s licensed market.

Capital Introductions: Connecting Brazilian gaming companies with international investors, and international operators with Brazilian capital and strategic partners.

Commercial Partnerships: Facilitating technology supplier, affiliate, and white-label distribution agreements between SCCG’s global client portfolio and Brazilian operators.

International Expansion: Supporting Brazilian operators looking to expand into other regulated markets across Latin America, Europe, and North America.

“Brazil’s regulated market has moved from potential to proof, generating billions in its first year under a fully structured licensing framework. International operators and investors need a partner who has navigated this market from the inside, through the regulatory buildout, the payment infrastructure, and the commercial realities on the ground. SCCG Brazil is that partner.”

— Thomas Carvalhaes, Partner, SCCG Brazil

The formation of SCCG Brazil reflects three converging forces. First, regulatory maturity: Brazil’s licensing regime is permanent, the SPA is actively enforcing compliance, and over 25,000 unlicensed sites have been blocked. Second, market scale: with a population exceeding 200 million and mobile penetration driving nearly all betting activity, Brazil offers the largest addressable audience in the region. Third, international demand: SCCG’s global client portfolio includes dozens of technology providers, platform operators, and investors actively seeking structured pathways into the Brazilian market.

SCCG Brazil operates as a division of SCCG Management, the gaming industry’s global advisory firm. With more than 30 years of experience, over 120 active client-partners worldwide, and offices spanning North America, Latin America, Europe, Africa, and Asia, SCCG provides end-to-end advisory services across iGaming, sports betting, sweepstakes, tribal gaming, and casino technology.

For partnership inquiries or to schedule a meeting, contact SCCG Management at sccgmanagement.com or reach Stephen Crystal directly via WhatsApp at +1 (725) 502-5033.

Explore SCCG Brazil’s full workstream breakdown, market data, and newsletter sign-up at sccgmanagement.com/sccg-brazil.

The post SCCG Management Launches Dedicated SCCG Brazil Division with Local Partner Thomas Carvalhaes appeared first on Americas iGaming & Sports Betting News.

Awards

Esportes Gaming Brasil takes two ClienteSA Awards 2026 wins; exec named Personality of the Year

Published

4 hours ago

July 15, 2026

Wladimir P.

esportes-gaming-brasil-takes-two-clientesa-awards-2026-wins;-exec-named-personality-of-the-year

Esportes Gaming Brasil (EGB), the group behind the Esportes da Sorte, Onabet and Lottu brands, has won Gold and Silver at the ClienteSA Awards 2026, held during the ClienteSA X-Summit 2026.

EGB said it won Gold in the Customer Success category for its case study, “Customer Success through Responsible Gaming and Intelligent Monitoring”, and Silver in the Customer Service Operations category for its case study, “From Startup to Maturity”.

Maria Neves, Director of Customer Experience, Customer Support and Reputation Channels, was also named Personality of the Year, an award that recognises leaders in customer experience management in Brazil. “This recognition validates the work of many people, built through listening, team development and a commitment to delivering the best possible customer experience. In a constantly evolving market, putting the customer at the centre of every decision is fundamental to the way we operate,” Neves said.

EGB executives also took part in the summit programme. Neves moderated a panel titled “Responsible Gaming as Part of the Customer Experience Journey,” featuring Carol Luna, Head of Compliance at the company, and Ricardo Magri, co-founder of the Brazilian Support Company for Compulsive Gambling (EBAC), which EGB described as a partner organisation.

During the session, the panellists discussed Brazil’s regulated betting market and how customer service, compliance and responsible gaming processes are being positioned as part of a safer customer journey. EGB highlighted initiatives including specialist support teams trained to identify signs of customer vulnerability, self-exclusion tools, platform usage limits and referral processes to specialist partner organisations.

The post Esportes Gaming Brasil takes two ClienteSA Awards 2026 wins; exec named Personality of the Year appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.