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

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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.

Canada

What Canadian Slot Players Are Really Comparing in 2026: Payout Speed, Interac and RTP Transparency

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Canadian online slot players are becoming more practical.

The old conversion model was simple: show a big welcome bonus, list a few popular games, and hope the player clicked through. That still has a place, but it no longer reflects how better-informed casino players compare sites in 2026.

The conversation has shifted.

Players are now asking sharper questions before they deposit. How fast can I cash out? Does the casino support Interac? Are the best games actually available in Canada? What happens after I win? Are the slot terms clear? Can I see RTP information without digging through a help centre?

For operators, affiliates and suppliers watching the Canadian market, this change matters. The slot player is not just bonus-led anymore. The player is becoming banking-led, payout-led and value-led.

Payout speed has become a decision factor

Withdrawal speed is one of the biggest practical differences between online casinos.

Many casinos still market themselves around welcome packages, but the post-win experience is where trust is won or lost. Players notice pending periods. They notice extra verification steps. They notice whether withdrawals are processed quickly or whether the process feels deliberately slow.

That is why comparison behaviour around fastest payout casinos in Canada has become more commercially important. A casino can have a large slot library and a generous bonus, but if the payout process is slow, many experienced players will look elsewhere.

This is especially true for slot players. Slots create quick sessions, frequent bonus rounds and unpredictable payout moments. A player who wins on a Friday night does not want to discover that the casino only starts reviewing cashouts on Monday.

Fast payout positioning is not just a payment feature. It is a trust signal.

Interac remains central to the Canadian player journey

Interac is still one of the most important payment expectations in Canada.

For many players, it feels familiar, local and practical. It connects online casino banking with everyday Canadian banking behaviour. That matters because casino payments are a high-friction moment. Players may be comfortable browsing games, comparing bonuses and reading reviews, but depositing money is where hesitation appears.

Clear information about Interac casino payments helps reduce that hesitation.

The most useful casino pages now explain more than whether Interac is accepted. They answer questions such as:

  • Is Interac available for deposits only, or withdrawals too?
  • Are there minimum and maximum limits?
  • Does account verification affect payout speed?
  • Are e-Transfer withdrawals supported?
  • Are there fees? Is Interac treated differently by province or operator?

This level of detail is valuable because Canadian players are not just asking “Can I pay?” They are asking “Can I deposit, play, withdraw and trust the process?”

That is a much more commercial question.

RTP transparency is becoming part of player value

RTP has always existed as a technical concept, but it is becoming more visible in player decision-making.

A casual player may not calculate long-term return percentages before every spin. But more players now understand that slot choice matters. They know that some games are more volatile, some bonuses are harder to clear, and some titles publish better long-term return figures than others.

This is why content around high-RTP slots is becoming more useful when it is presented properly.

The weak version of RTP content is an educational glossary: “RTP means return to player.” That is not enough anymore.

The stronger version connects RTP to actual player behaviour:

  • Which high-RTP games are worth knowing?
  • Which casinos offer strong slot libraries?
  • How does volatility affect the player experience?
  • Does the bonus structure make a high-RTP game less valuable?
  • Are high-RTP slots available on mobile?
  • Can Canadian players access the games easily?

RTP transparency does not mean players expect to beat the casino. It means they want clearer information before choosing where and what to play.

Mobile play is raising expectations

Canadian slot players are heavily mobile-led.

That changes the comparison process. A player may research on desktop, but the actual deposit and session often happen on a phone. If the casino lobby is slow, payment forms are clunky, or game filters do not work well on mobile, the player experience suffers.

Mobile also puts more pressure on clarity. Players do not want to scroll through huge blocks of bonus terms. They want fast answers:

  • Best casino for quick withdrawals
  • Best Interac option
  • Best slot lobby
  • Best high-RTP games
  • Best mobile experience

For affiliates and operators, this means page structure matters. Tables, verdict boxes, payment summaries and direct recommendations often outperform long, generic content.

The market is moving away from generic casino comparisons

The Canadian slots market is not short of casino lists.

The issue is that many lists look the same. Same bonus-first ranking. Same generic claims. Same vague “safe and secure” language. Same lack of useful payout or banking detail.

The better opportunity is to compare casinos around real player decisions.

For Canadian slot players, that often means:

  • How fast can I withdraw?
  • Can I use Interac?
  • What games are actually worth playing?
  • Is the casino reliable after I win?
  • Does the site work properly on mobile?
  • Are the terms clear enough to trust?

These questions are more practical than promotional. They also create stronger commercial intent.

A player searching for payout speed, Interac support or slot value is usually further along the decision journey than someone casually browsing a bonus list.

What this means for the industry

The Canadian slot player in 2026 is not necessarily less bonus-driven. But the bonus is no longer the whole story.

The market is becoming more mature, and mature players compare the full experience. They want payment confidence, game quality, mobile usability, transparent terms and fewer surprises after depositing.

For operators, this means the product experience has to support the marketing promise.

For affiliates, it means generic casino pages are losing their edge. The stronger play is to build content around the actual comparison points players care about.

Payout speed, Interac and RTP transparency are not side details anymore.

They are becoming part of the main decision.

The post What Canadian Slot Players Are Really Comparing in 2026: Payout Speed, Interac and RTP Transparency appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Alberta

Octoplay secures conditional Alberta iGaming supplier approval from AGLC

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Octoplay has secured conditional licence approval from the Alberta Gaming, Liquor & Cannabis Commission (AGLC), allowing the supplier to begin the process of offering its games catalogue to operators in Alberta.

The company said the approval positions it to launch in Canada’s newest regulated iGaming market when it opens in July. Octoplay is already live in Ontario with BetMGM and PokerStars, and has also entered the US through New Jersey and Michigan, according to the company.

“Alberta is one of the most strategic market openings on our 2026 roadmap. Entering it with the performance data we’ve built in Ontario, New Jersey, and Michigan gives us a strong foundation to be one of the first suppliers to partner with local tier-one operators as soon as the market opens,” says Ralitsa Georgieva, CEO at Octoplay.

“We’ve worked closely with the AGLC throughout the licensing process, and clearing the conditional stage reflects the strength of our compliance infrastructure,” says Martina Borg Stevens, Chief Legal Officer at Octoplay. “Our team has built a process that allows us to enter new regulated jurisdictions efficiently without compromising on the technical standards each regulator requires.”

Octoplay said Alberta adds to its regulated footprint, which it stated includes 17 operational markets: the United Kingdom, New Jersey, Michigan, Ontario, Italy, Spain, Sweden, the Netherlands, Denmark, Belgium, Greece, Romania, Malta, Slovakia, Finland, Brazil, and Georgia.

The post Octoplay secures conditional Alberta iGaming supplier approval from AGLC appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Canada

Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo

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Bronze card has been claimed during the group stage; silver and gold prizes remain available until 31 July.

Tonybet said it has paid out its first major prize in its World Cup Card Collection campaign for Canadian customers (excluding Ontario), after a player secured the promotion’s bronze card worth $15,000 CAD.

The operator said the World Cup Card Collection includes 51 cards to collect during the tournament: 48 digital cards tied to participating World Cup nations, plus three unique cards—gold, silver and bronze—linked to a $150,000 CAD total prize fund.

According to Tonybet, the bronze card has been available through the World Cup’s group stage and has now been claimed. The silver card is available during the knockout rounds up to the quarter-finals, while the gold card is held back for the closing semi-finals and final.

Tonybet Head of Product Kiryl Liudvikevich said: “With Canada co-hosting the World Cup for the first time, the tournament has felt closer to home than ever before for Canadians, and it has already delivered a moment most supporters could only dream about with the national team advancing to the knockout stages.

“For one lucky Canada supporter, it has now produced another story that will be worth retelling long after the final whistle has gone – with our lucky winner among the first Tonybet customers to win one of the unique cards in our World Cup Card Collection, taking home a cool $15,000 for managing to get his hands on bronze. Who will end up with silver and gold?”

Tonybet said the same three unique cards are also in circulation across its other markets, with varying outcomes so far. The World Cup Card Collection campaign runs until 31 July, with a $150,000 CAD prize pool for Canada and separate prize pools in other markets.

The post Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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