Canada
Rivalry Reports First Quarter 2024 Results, Expands Into Crypto Segment Through Rivalry Token

Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, today announced financial results for the three-month period ended March 31, 2024. The Company also announced Rivalry Token, a native cryptocurrency token that will act as a nexus between Rivalry, Web3, and gamblers. All dollar figures are quoted in Canadian dollars.
“Our first quarter results saw a return to growth with sequential increases in betting handle, gross gaming revenue, and net revenue,” said Steven Salz, Co-Founder and CEO of Rivalry. “We are also very encouraged by the improvement to net revenue margin experienced in the quarter, hitting an all-time record, proving our strategy is delivering results, and representing a meaningful improvement as compared to the average levels experienced throughout 2023. Additionally, interest in our original casino content continues to build, unlocking B2B revenue opportunities that we are keen to detail more fully in the near future.”
“Today we also announced a decisive move to more deeply tap into the significant global crypto gambling market through Rivalry Token. This represents a meaningful strategic step for Rivalry, complementing our existing approach which focuses on a generation that grew up immersed in gaming and internet culture, and now extending that reach to the crypto community. The Venn diagram of Gen Z, gamblers, gamers, and crypto enthusiasts or crypto curious has an extremely high degree of overlap that we are uniquely positioned to access.”
“Alongside this announcement, we have also released an overhaul of our homepage, a more fulsome crypto wallet experience, and adjusted the onboarding experience for new users to materially reduce friction while maintaining compliance. Together, this represents a meaningful effort to access a higher value crypto gambling cohort, adding more depth and reach to Rivalry’s global network. This comes at an opportune time, as momentum in crypto gambling has been building amongst our target audience and they’ve been gravitating towards it. By expanding our product offering into this segment, it positions us to compete and win as we innovate product and gain access to this higher value customer cohort.”
First Quarter 2024 Highlights
Betting handle for Q1 2024 was $94.7 million, increasing by $9.6 million, or 11% as compared to Q4 2023.
Gross gaming revenue (“GGR”)2 was $7.7 million in Q1 2024, up $1.3 million, or 20% from $6.4 million in Q4 2023.
Net revenue3 was $4.5 million in Q1 2024, increasing by $1.5 million, or 51% from $3.0 million in Q4 2023. As a percentage of GGR, the Q1 2024 net revenue margin of 58.5% was the highest in Company history, and compares to 45.4% in FY 2023. As a percentage of betting handle, the net revenue margin of 4.7% was the highest of the past five quarters. The improvements reflect ongoing initiatives to increase margins through innovation and adjustments to the product offering.
The Casino segment continues to be a strong contributor, generating 59% of betting handle and 19% of GGR in the quarter. Segment results reflect the ongoing expansion of Rivalry’s casino product line, including the original game Cash & Dash released in the second half of 2023.
Net loss was $5.2 million in Q1 2024, the Company’s narrowest net loss of the last four quarters.
The Company had $9.4 million of cash as at March 31, 2024.4
Rivalry released a basketball same-game-parlay product coinciding with the 2024 NBA playoffs, building on the Company’s growing traditional sports vertical. This has supported both acquisition efforts and net revenue margin enhancement.
The Company also released pre-made-parlays, driving meaningful customer interest and improving sportsbook hold.
Rivalry released shareable bet slips during the quarter, introducing a social feature to increase user acquisition and community engagement.
Rivalry continues to explore interest in licensing its first-party casino games, accelerating the advancement of its B2B vertical.
The Company is updating its profitability guidance from the first half of 2024 to by the end of 2024.
Rivalry Token
Rivalry has today revealed Rivalry Token, a native crypto token on the blockchain to add increased functionality, economics, and user experiences across the Company’s product suite, continuing Rivalry’s track record of innovation in online betting. The launch of Rivalry Token, anticipated to arrive in H2 2024, represents one of several forthcoming initiatives to position Rivalry in the crypto gambling market and better serve its core audience of under-30 bettors.
“Online gambling is the latest web-based consumer category being increasingly disrupted by blockchain technologies with greater speed, access, and functionality than their legacy counterparts,” Salz added. “Tech-savvy bettors are leading a behavioral shift towards more experiential and crypto-enabled gambling experiences that are taking wallet share from incumbents at an accelerated rate.”
“Rivalry is well-positioned to access the growth opportunity in crypto with a proven product set, a brand entrenched in internet culture, and a captive audience of digitally native users that are driving this economic renaissance. The launch of Rivalry Token, alongside a broader expansion into cryptocurrencies, strengthens our product-market fit among an under-30 audience and positions us competitively to capture a meaningful share of this fast-growing and highly valuable segment of the market.”
Rivalry Token will be a utility token integrated within Rivalry’s product suite – from sportsbook to casino and more – with built-in properties to enhance the customer experience from end-to-end. This introduces a dynamic relationship where every sports wager and casino spin, win or lose, is rewarded with a decentralized asset that delivers meaningful real money utility for the player. The Company expects its token will drive an increase in player engagement, loyalty, and advocacy by establishing more positive economic alignment between itself and users.
Rivalry has today launched a pre-farming campaign called PLAY-2-EARN, where users can begin accumulating interim token points through site activity and eventually social media which will be converted into Rivalry Tokens later this year.
Following the official launch, Rivalry Token will be available for players to use on Rivalry in all of the Company’s active markets excluding Ontario and Australia.
The Company will release more information about Rivalry Token throughout the coming months, including commercial partners, token economics, and more.
Investor Conference Call
Management will host a conference call at 10:00 a.m. EDT on Thursday, May 30, 2024 to discuss the Company’s first quarter 2024 financial results and its expansion into the cryptocurrency space.
Alex Malchenko Head of Sales at Evoplay
Evoplay strengthens Ontario presence in partnership with Caesars Entertainment

Evoplay, the award-winning game development studio, has partnered with Caesars Entertainment to expand its footprint in the Canadian market, following its initial entry earlier this year. The partnership integrates 20 of the studio’s top-performing titles onto Caesars Palace Online Casino, Horseshoe Online Casino and Caesars Sportsbook & Casino in Ontario, including fan-favourites such as Hot Triple Sevens, Triple Chili, and The Greatest Catch Bonus Buy.
Having announced its official entrance into Ontario in March, the collaboration with Caesars marks a significant step in Evoplay’s local strategy. Further standout releases, such as Inner Fire Bonus Buy and Hot Volcano, also launched as part of the initial package, with additional player favourites, including Fruit Nova and Ice Mania.
The collaboration underlines Evoplay’s commitment to working with leading operators to deliver high-quality content tailored to regional audiences.
Alex Malchenko, Head of Sales at Evoplay, said: “Launching with Caesars in Ontario marks a key milestone in our North American strategy.
“It reflects both the strength of our portfolio and our commitment to providing innovative, high-performing content to operators of the highest caliber.”
Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, said: “Evoplay brings a fresh and dynamic approach to online gaming, which we’re excited to offer to our players in Ontario. This portfolio of standout titles adds to our growing content library and furthering our ongoing goal of delivering top-tier entertainment experiences to our players.”
The post Evoplay strengthens Ontario presence in partnership with Caesars Entertainment appeared first on Gaming and Gambling Industry in the Americas.
Canada
iGaming Ontario Appoints Joseph Hillier as its New President and CEO

The iGaming Ontario Board of Directors has announced Joseph Hillier as the organization’s new President and Chief Executive Officer, effective September 8, 2025. Joseph’s depth in the Ontario igaming market combined with successful public and private sector careers make him the ideal President and CEO at this critical point in iGaming Ontario’s growth.
Joseph was most recently Chief Strategy Officer and Corporate Secretary at the Alcohol and Gaming Commission of Ontario (AGCO), where he delivered significant strategic and regulatory initiatives across the province’s alcohol, cannabis, gaming, and horse racing sectors. Prior to the AGCO, he served as Chief of Staff to Ontario Attorney General Hon. Doug Downey and led the development, launch and implementation of Canada’s first private sector-driven igaming market and the creation of iGaming Ontario. Joseph also spent more than a decade working in the financial and legal services sectors.
The Board expressed its sincere thanks to David Smith for serving as Interim President and Chief Executive Officer since Martha Otton’s retirement.
The post iGaming Ontario Appoints Joseph Hillier as its New President and CEO appeared first on Gaming and Gambling Industry in the Americas.
Blanka Homor Sales Director at Playson
Playson strengthens Ontario foothold with Casino Time integration

Partnership accelerates supplier’s continued expansion across North America
Playson, the accomplished digital entertainment supplier, has bolstered its presence in Canada after securing a new partnership with Casino Time, one of Ontario’s fastest growing regulated operators.
Casino Time will benefit from Playson’s comprehensive Hold and Win portfolio, which consistently features among the supplier’s top-performing titles released to market.
Coin Strike: Hold and Win, Thunder Coins: Hold and Win, and Diamonds Power: Hold and Win are among the releases now available to the Casino Time player base, courtesy of a seamless integration via Light & Wonder’s aggregation platform.
Renowned for its retail presence across Ontario, Casino Time has successfully bridged the gap between physical and digital gaming since entering the province’s regulated iGaming market in 2024. Its online offering is set to reach new heights with the addition of Playson’s titles, which offer immersive gameplay and captivating visuals that are proven to increase player retention and satisfaction.
The latest agreement coincides with a significant period of growth in North America for Playson, underlining its long-term vision of expanding its market share in regulated territories with key operators.
Blanka Homor, Sales Director at Playson, said: “Ontario is a market of major significance for us in North America and so it is great to join ties with such a household name.
“Casino Time’s online expansion continues to soar and we are confident our Hold and Win collection will resonate with local players, offering them alternative ways of engaging in captivating slot experiences.”
Jeffrey Holmes, Chief Operating Officer at Casino Time, said: “Partnering with Playson is an exciting step in our mission to deliver the very best in online casino entertainment. Their Hold and Win titles are a proven hit in multiple markets, and we are certain these will add a unique dynamic to our slot library.
“This collaboration strengthens our ability to bridge the gap between retail and digital gaming, while giving our players fresh, immersive experiences.”
The post Playson strengthens Ontario foothold with Casino Time integration appeared first on Gaming and Gambling Industry in the Americas.
-
eSports16 hours ago
TEAM VITALITY AND HUMMEL LAUNCH ALTERNATE JERSEY AND EXCLUSIVE APPAREL COLLECTION
-
Brazil7 days ago
SOFTSWISS Wins Best Game Aggregator Award in Latin America
-
Latest News7 days ago
SOFTSWISS Wins Best Game Aggregator Award in Latin America
-
Baltics6 days ago
All Gambling Halls in Riga Threatened with Closure – Industry Raises Alarm
-
Compliance Updates6 days ago
Nevada Rep. Dina Titus to Add FAIR BET Act to 2026 Defense Budget
-
Latest News7 days ago
GR8 Tech’s Bet It Drives Takes a Sharp Turn with Helen Walton—From Fashion & Beauty to iGaming Innovation
-
Latest News7 days ago
SBC Summit Tbilisi Conference Agenda Maps Path to Growth in Eastern Europe & Central Asia
-
Latest News7 days ago
ZITRO STRENGTHENS ITS COMMITMENT TO QUALITY WITH A NEW CORPORATE POLICY