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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.
Stake, the world’s leading online casino and sportsbook, has today announced the launch of its latest Stake Originals title, Moles, a high-intensity arcade-style game designed to deliver fast decisions, escalating tension, and huge multiplier potential.
Stake has released Moles, a new addition to its gaming portfolio that adapts traditional carnival mechanics for a digital environment. The gameplay requires players to strike targets to accumulate multipliers, offering a choice between immediate cash-outs or continuing for higher potential rewards.
At its core, the game is built around a dynamic risk-reward system. Players choose how many moles appear on the board — from one to six — directly influencing both difficulty and potential payout. Fewer moles offer a higher risk and the chance of extreme multipliers, while more moles provide a steadier, lower-risk path.
The game operates on a rapid-fire sequence where each successful hit increments a player’s multiplier. Under the game’s mechanics, a single missed target results in the immediate conclusion of the round and the forfeiture of accumulated rewards.
Moles features a maximum win multiplier of 5,649,504.98x. This represents one of the highest potential payout ratios currently available within the Stake Originals portfolio.
Designed for speed, simplicity, and replayability, the game captures the essence of classic fairground entertainment while elevating it with modern mechanics, provably fair technology, and a smooth, responsive interface.
Stake’s Chief Marketing Officer, Akhil Sarin, said: “Moles is a perfect example of what Stake Originals is all about — taking a familiar concept and turning it into something fast, engaging, and highly rewarding for our players.We wanted to create a game that’s instantly recognisable but delivers that signature Stake intensity where every decision matters and every round builds that thrilling tension.With its massive win potential and simple yet strategic gameplay, we’re confident Moles will quickly become a fan favourite across our global community.”
The launch of Moles continues Stake’s momentum in expanding its Originals suite — a category that has become central to the platform’s identity, known for delivering innovative, in-house games that prioritise player control, transparency, and high engagement.
Built with a provably fair system and a 98% RTP, the game ensures both transparency and competitive returns, reinforcing Stake’s commitment to delivering premium gaming experiences.
Moles will be available globally on Stake from March 24, 2026, alongside a refreshed lineup of Stake Originals releases as the brand continues to push the boundaries of online casino entertainment.
About Stake
Stake is the world’s most popular online casino and sportsbook. Founded in 2017, Stake attracts over 80 million monthly visits, more than any other iGaming platform, and sees more than 100 billion bets a year. Stake is renowned for its innovation in crypto wagering as well as its growing expansion into regulated local-currency gaming markets in Italy, Denmark, Brazil, Colombia and Peru. It also boasts a roster of global sponsorships, including Canadian superstar Drake, X Games, Everton Football Club, and the UFC.
For more information and press enquiries, users can contact: [email protected]
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VeliTech is preparing to make its first-ever appearance in Brazil at BiS SiGMA South America 2026, taking place in São Paulo from April 6–9. Exhibiting at Stand i156, the company arrives with strong momentum, highlighted by a double awards shortlist and a casino content portfolio designed to make an impact.
The company has been shortlisted in two major categories ahead of the event:
- Best Platform for VeliTech
- Best Gaming Experience for VeliPlay
These nominations underline the strength of VeliTech’s ecosystem, with its core iGaming platform recognized for reliability and scalability, while VeliPlay gains attention for delivering fast-paced, high-energy gameplay through its growing portfolio of crash and instant games.
Casino Content Takes Centre Stage
For its Brazil debut, VeliTech is placing a clear focus on its casino offering. At the heart of the showcase is VeliPlay, featuring a lineup built around speed, immersion, and repeat engagement — key factors in today’s competitive iGaming landscape.
The portfolio has recently been strengthened with new releases, including Pinball Rush, which adds to its expanding catalogue of adrenaline-driven titles. This focus aligns with broader industry trends, where instant and crash games continue to gain traction among players seeking fast and dynamic experiences.
Complementing this is Heaven of 7, the group’s slot development arm, known for visually rich games and engaging mechanics. Its latest release, Coin Up: Rise, highlights the studio’s commitment to combining strong design with accessible gameplay, helping operators diversify their content mix.
Aggregation Power with VeliGames
Completing the offering is VeliGames, VeliTech’s aggregation platform, which has recently been recognised as an Industry Rising Star by SiGMA. Through a single integration, VeliGames provides operators with access to a wide portfolio of content alongside robust back-office tools.
This combination of aggregation technology and in-house content studios allows VeliTech to offer a fully connected casino solution. By bringing together instant games, slots, and scalable infrastructure, the company aims to help operators streamline operations while enhancing player engagement.
A Strategic Move into a High-Growth Market
Brazil is widely regarded as one of the most promising emerging markets in iGaming, making VeliTech’s debut particularly significant. As regulation evolves and competition increases, providers are looking to establish an early presence with strong, differentiated offerings.
Mats Lundin, Chief Sales Officer at VeliTech, said:
“Brazil is one of the most exciting markets in iGaming right now, so making our debut at BiS SiGMA South America is a big moment for us. We’re coming to São Paulo with a content lineup built to make an impact, from fast-paced crash and instant games to engaging slots, all backed by the power of VeliGames aggregation. To be shortlisted for both Best Gaming Experience and Best Platform ahead of our first event in Brazil makes this milestone even more exciting.”
Visitors attending BiS SiGMA South America can meet the VeliTech team at Stand i156 to explore how its integrated technology and content portfolio can support operators in building stronger, more competitive casino offerings.
The post VeliTech makes its Brazil debut at BiS SiGMA South America 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Gaming Laboratories International (GLI) has become the first international gaming lab to be accredited in Ukraine.
GLI Europe B.V. was appointed by Ukrainian regulatory authority, PlayCity, as both a testing/certification and inspection body for gambling equipment in the country and is currently the only foreign entity to be accredited.
GLI Europe B.V. will perform testing and certification of all gaming related hardware and software in accordance with the requirements of PlayCity and the Ukrainian gaming regulatory framework. GLI will deliver all Ukrainian certification services through its European operational hub, GLI Europe B.V., ensuring certification is conducted under GLI’s ISO/IEC 17025, 17020, and 17065 accreditations.
The company will work with both foreign and Ukrainian suppliers, whereas Ukraine is considered a regulated market, and suppliers will need to hold a certificate of approval from PlayCity in order to request certification for the market.
“We are grateful for the trust PlayCity has placed in GLI. At GLI, we work with regulators in more than 710 jurisdictions, and we will bring our global expertise to PlayCity and to suppliers who wish to enter the Ukrainian market, guaranteeing the highest levels of testing quality and compliance,” said James Boje, Managing Director, EMEIA.
The post GLI Becomes First International Gaming Lab to be Accredited in Ukraine appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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