Connect with us
European Gaming Congress 2024

Canada

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

Published

on

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

Advertisement
Stake.com

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.

Advertisement
Stake.com

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.

Advertisement
Stake.com

Canada

Canadian Gaming Summit 2024: Innovation and Networking Converge in Toronto

Published

on

canadian-gaming-summit-2024:-innovation-and-networking-converge-in-toronto

 

The Canadian Gaming Summit (CGS) is set to take place from June 18-20, 2024, at the Metro Toronto Convention Centre. Organized by SBC Events in collaboration with the Canadian Gaming Association (CGA), this premier event promises to be an unparalleled gathering for gaming and sports betting professionals from Canada and beyond.

A Gathering of Industry Leaders

The 27th edition of the Canadian Gaming Summit is anticipated to draw over 3,000 delegates, including more than 1,000 operators, 200 affiliates, and 150 speakers. This year’s event is a must-attend for companies eager to engage with one of the world’s most dynamic gambling markets. The Summit will feature a rich conference agenda and a diverse array of exhibitors, reflecting the evolving landscape of the industry.

Highlighting Key Features

Advertisement
Stake.com

Player Protection Symposium
 A high-level session dedicated to preventing gambling harm, providing crucial insights and strategies for responsible gaming practices.

Electronic Gaming Academy Masterclass
 An in-depth analysis of how Return to Player impacts different player categories, offering valuable knowledge for enhancing player experiences.

Global Gaming Women’s Breakfast
 A networking event aimed at connecting women in the industry, promoting diversity and inclusion over coffee and croissants.

First Nations Gaming Breakfast Meetup
 A unique opportunity for First Nations gaming delegates to network and share insights over a complimentary breakfast.

Networking and Learning Opportunities

Advertisement
Stake.com

CGS 2024 will offer an all-inclusive networking experience from the moment attendees step inside. Each day begins with dedicated networking areas on the show floor, featuring hot refreshments, breakfast, and lunch. Evening networking parties at some of Toronto’s most upscale venues will provide the perfect setting to build on relationships formed during the conference.

Evening Networking Events

Opening Party (June 18)
 Held at RS Sports Bar, this pre-registration event includes complimentary drinks, canapés, and a live DJ, setting the stage for the conference days ahead.

Official Networking Party (June 19)
 Taking place at Lavelle, one of Toronto’s premier locations, this party offers complimentary food and drinks, ensuring a relaxed environment for networking with industry professionals.

A Comprehensive Agenda

Advertisement
Stake.com

The Canadian Gaming Summit will cover a broad spectrum of topics across the gaming and sports betting sectors, including:

  • The latest compliance updates and insights into global regulatory trends.
  • The integration of fintech and blockchain technologies in the gaming industry.
  • The strategic use of gamification to enhance player retention and loyalty.
  • The impact of the Digital Services Act and AI EU Act on businesses.
  • The emergence of Decentralized Autonomous Organizations (DAOs) in gaming.

The Canadian Gaming Summit 2024 promises to be an event filled with learning, networking, and growth opportunities. Don’t miss your chance to be part of Canada’s premier gaming and betting event. Secure your spot and be ready to explore the future of gaming in one of the most exciting markets in the world.

For more information and to register, visit the Canadian Gaming Summit website.

Continue Reading

Canada

Titanplay Goes Live in Ontario, Powered by Delasport

Published

on

titanplay-goes-live-in-ontario,-powered-by-delasport

Rising iGaming star Titanplay is now officially live in Ontario, powered by Delasport’s turnkey solution. The sports betting and casino operator received its Ontario license just days ago and is quickly launching with the help of Delasport’s one-stop-shop product.

This is just the latest of a series of successful deals in the Ontario market for Delasport, who obtained a license for the hot jurisdiction earlier this year.

The award-winning supplier’s solution is designed to accommodate all online sportsbook and casino needs.

Titanplay is taking full advantage of what Delasport has to offer, thus providing the best player betting experience possible. Their players will soon enjoy the richest casino and sportsbook products in the industry. This includes Player Engagement missions and tournaments, unmatched personalization capabilities with My Sportsbook, My Casino, My Combo, and My Event Builder, casino Booster Panel, Hot & Cold game categories, and much more.

“Our stride in Ontario is going full force and we’re proud to be able to announce such exciting deals like the partnership with Titanplay”, Delasport’s CEO Oren Cohen Shwartz comments. “Operators in the market chose Delasport’s solutions because it allows them to differentiate and take a market share right away. We’re confident in both our software offering and our Managed Services, so we can guarantee that Titanplay’s players will appreciate and enjoy the second-to-none betting experience.

Advertisement
Stake.com
Continue Reading

Canada

Thunderkick launches in Ontario with industry heavyweights PokerStars and LeoVegas

Published

on

thunderkick-launches-in-ontario-with-industry-heavyweights-pokerstars-and-leovegas

 

Latest move continues North American expansion for popular provider

Independent slots studio Thunderkick has gone live in Ontario for the first time with international operators PokerStars and LeoVegas.

The jurisdiction is a key focus for the provider alongside markets such as Italy, Portugal, and its homeland of Sweden.

Ontario also marks the latest step in Thunderkick’s long-term North American strategy, which will see the studio roll out game releases and commercial deals throughout the rest of 2024.

Advertisement
Stake.com

The licence allows the provider to partner with a range of operators in the region, which has proven to be buoyant since it came online in 2022.

As part of the move, a number of acclaimed titles will become available to PokerStars and LeoVegas players in Ontario. These include an initial offering of 12 Bolts of Thunder, Xterminate, Midas Golden Touch 2, Beat the Beast: Dragon’s Wrath, and Midas Golden Touch Reborn, which will be accessible within a month of the launch.

Thunderkick has positioned itself for major growth following this important milestone, especially in North America, where it has recently entered the US social casino industry.

Svante Sahlström, Chief Commercial Officer at Thunderkick, said: “Ontario is one of the most significant strategic moves for us this year, and I think we’ll look back on it as an important marker in the company’s development.

“Partnering with two prominent brands in PokerStars and LeoVegas highlights our drive to deliver on our long-term strategic goals in the continent as we continue to work towards providing the ultimate player experience.”

Advertisement
Stake.com

“The market entry is the latest step in Thunderkick’s progressive worldwide expansion goals, proving that independent slots studios can operate on a global scale and develop a player base across continents by prioritising high-quality games.”

“There is a huge amount of unlocked potential in North America, and as more Canadian provinces and US states become regulated, there is a fantastic opportunity for Thunderkick to expand further.”

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania