Canada
Rivalry Reports Second Quarter 2024 Results; Rivalry Token Drives $1.7 Million in Additional Revenue, Accelerating Crypto Expansion Efforts in the Third Quarter
Successful Margin Growth Efforts Drive Jump in Net Revenue; Company Gains Early Traction Among Crypto and High-Value Players with Rivalry Token; Positive Early Signal from VIP Efforts, a Key Area of Strategic Focus
Betting handle of $87.8 million1.
Net revenue of $4.7 million was up 3% from Q1 2024 and up 22% YoY from Q2 2023.
Company achieves record net revenue margin of 62.5%, highlighting the continued impact of its margin enhancement efforts, driving more net revenue per dollar wagered.
Rivalry Token drives new global audience of crypto bettors and high-value players; Token customers exhibiting twice the value of average non-crypto users.
Rivalry Token delivers $1.7 million in revenue subsequent to quarter-end, validating crypto strategy and product potential. Expected to remain a revenue stream for the business throughout the remainder of the third quarter and into the fourth quarter.
Crypto payment and technology development supporting strategy shift toward growing VIP player base; anticipated to deliver growth while maintaining current operational expense levels, driving profitability.
Rivalry Corp., the leading sportsbook and iGaming operator for Gen Z, today announced financial results for the three- and six-month periods ended June 30, 2024. All dollar figures are quoted in Canadian dollars.
“At Rivalry we have narrowed our focus primarily to two areas that are showing the highest potential for growth in our history: crypto expansion led by tokenization, and VIP’s. Alongside these focused efforts, we are tightly managing working capital, rationalizing our teams, and cutting spend in areas that fall too far outside of these priorities,” said Steven Salz, Co-Founder and CEO of Rivalry. “Our efforts to improve margin are also driving results, achieving record margin levels for two consecutive quarters.”
“Last quarter marked a broader expansion into crypto with the pre-release of Rivalry Token and we have seen very motivating early results,” Salz continued. “Rivalry Token is uniquely positioned to serve a number of our near and long-term goals to expand our geographic footprint and acquire and retain high-value players, which we are beginning to see signals of. In just a few months, Rivalry Token has attracted new customers who are twice as valuable as our average user and marked the most successful reactivation campaign in the Company’s history. Behaviorally, we see that Rivalry Token users are more active and engaged, and we are confident in the opportunities being unlocked through this technology. We have an extensive roadmap ahead for Rivalry Token, including new social-based products and games to drive more connected wallets and create engagement loops for players that will extend our momentum in the crypto gambling segment.”
“Rivalry has also been shifting resources toward VIP’s, which is closely aligned with our push deeper into the crypto segment. This emphasis on VIP’s marks a course correction of our historical strategy which delivered exceptional outcomes for the vast majority of our player base, but under-indexed on the small percentage that drives the lion’s share of revenue in an online gambling business. I have extreme conviction that the significantly above-market KPI’s we have driven for that majority of players, led by our obsessive dedication to their success, when now directed toward the smaller percentage of high-value players, that within this industry drives multiple times the value, will lead to a sizeable change in Rivalry’s business outcomes.”
Second Quarter 2024 Highlights
Betting handle for Q2 2024 was $87.8 million, decreasing by $6.9 million or 7% as compared to $94.7 million in Q1 2024, and by $24.4 million or 22% from $112.2 million in Q2 2023. As Rivalry prioritizes margin, it can negatively impact betting handle as players turn over their balances less.
Gross gaming revenue (“GGR”)2 was $7.4 million in Q2 2024, decreasing by $0.3 million or 3% from $7.7 million in Q1 2024, and by $1.0 million or 12% from $8.5 million in Q2 2023.
Net revenue3 was $4.7 million in Q2 2024, increasing by $0.1 million, or 3% from $4.5 million in Q1 2024, and by $0.8 million or 22% from $3.8 million in Q2 2023. As a percentage of GGR, the Q2 2024 net revenue margin of 62.5% was the highest in Company history and compares to 58.5% in Q1 2024 and 45.0% in Q2 2023. As a percentage of betting handle, the net revenue margin of 5.3% was the highest of the past six 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 60% of betting handle and 24% 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 $5.4 million in Q2 2024. Net loss includes $0.52 million in interest expense accrued on the convertible debenture, that is not due until the end of 2025. The Company therefore considers the $4.8 million loss from operations in Q2 2024 as compared to $6.2 million in Q2 2023 a better representation of its working capital management.
The Company had $4.6 million of cash as at June 30, 2024.4
Rivalry drove strong upticks in user activity for higher margin product offerings including Pre Made Combos, which has driven over 500,000 wagers since its release in January 2024, supporting ongoing net revenue growth.
Rivalry expects to enter a licensing agreement for its first-party casino games in the coming months, establishing a new revenue stream for its B2B vertical.
Rivalry adjusted its onboarding experience to materially reduce friction for VIP users in global markets while remaining in compliance with regulatory requirements.
The Company maintains its H2 2024 profitability guidance.
Rivalry Token
In May 2024, the Company announced Rivalry Token, a native cryptocurrency to be integrated across Rivalry’s product suite to elevate the overall user experience, expected to launch in H2, subject to a number of market and product related considerations. Prior to the product’s full release, customers have been able to engage with Rivalry Token by connecting their digital wallets, earning rewards through on-site activity, and more recently off-site through a mini-experience called a ‘faucet,’ with more to come in the near future. Since May, Rivalry Token has gained meaningful traction among Rivalry’s user base, drawing a geographically diverse audience of high-value players and creating engagement loops which are driving upticks in site activity.
Subsequent to Q2 2024, Rivalry Token has delivered $1.7 million in revenue5, accelerating the Company’s expansion into the crypto segment. This is expected to remain a revenue stream for the business throughout the remainder of the third quarter and into the fourth quarter.
Rivalry Token is capturing higher value players, where opted-in users are twice as valuable in terms of revenue potential and deposit nearly twice as much as non-opted-in users.
More than half of customers that opted-in to receive Rivalry Token are reactivated users while another 15% are new, marking the Company’s most successful reactivation campaign.
Rivalry Token customers are more engaged users and play consistently during all days of the week with casino driving two-thirds of betting handle.
Rivalry released a Rivalry Token web-based complement product to its on-site pre-farming, called a ‘faucet,’ in mid-August to drive connected wallets and acquire new players. The Company is in the process of developing a social-based product expected to arrive in September to further expand its geographic footprint and audience capture within the crypto segment.
The Company will release more information in the coming months as Rivalry Token continues to develop.
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The Canadian iGaming market has evolved from an emerging opportunity into one of the most competitive and innovative digital gaming arenas worldwide. Ontario’s regulated framework has paved the way for rapid expansion, attracting established international operators alongside ambitious newcomers that are carving out share through brand differentiation and data-driven acquisition.
Methodology: How Growth Was Measured
To understand which casino brands are gaining momentum and why, the award-winning Mr. Gamble Casino Trends Meter—a proprietary performance index powered by Semrush, Ahrefs, in-house click tracking, market benchmarks, and predictive analytics—analyzed year-over-year (YoY) performance from January–June 2024 versus January–June 2025. The results point to a vibrant, fiercely competitive landscape where execution, trust, and experience are the real drivers of sustained growth.
Brands Showing Standout Growth in 2025
Strong outperformance highlights different paths to scale
Wild Tokyo posted an extraordinary +134% YoY, showing how bold branding, a distinctive identity, and targeted acquisition can resonate with players seeking unique experiences. Clean yet edgy design, paired with robust SEO execution and engagement programs, helped the brand cut through a crowded market.
LuckyDays delivered +110% YoY by striking a balance between simplicity and substance. A minimalistic UX, a vast game library, and strong affiliate relationships have positioned it as a trusted destination for Canadian players.
BetVictor, a legacy operator with deep roots, recorded +107% YoY. Its evolution from traditional bookmaker to diversified iGaming powerhouse underscores how credibility and adaptability can translate into modern growth.
Agile mid-tier brands are also accelerating: SlotsMagic at +94% and Betibet at +88% demonstrate how focused SEO, analytics-led decision making, and smart promotional strategy can punch above weight.
Crypto-forward momentum and broader market depth
The joint rise of BetFury and SmokAce—both at +74%—signals growing acceptance of crypto and blockchain-based gaming among Canadian users, driven by transparency, fast payments, and a tech-forward ethos.
Meanwhile, Paripesa, Mond, and ComeOn maintained robust double-digit YoY growth, underscoring the market’s depth and diversity beyond a handful of headline names.
Market Maturity: Compliance, Trust, and UX Win
As more provinces explore regulated frameworks modeled on Ontario, competition is intensifying. The brands pulling ahead are those investing in compliance, transparency, and player satisfaction—prioritizing product quality and retention over short-term promotions.
“Players are becoming more selective, more informed, and more focused on trust,” says Paul Puolakka, CMO at Mr. Gamble. “We’re seeing a clear shift toward quality brands that prioritize experience, safety, and innovation—the ones achieving real, sustained growth.”
Puolakka adds: “Data doesn’t just tell us who’s growing—it shows us why. The operators succeeding in Canada are those that deeply understand their audience, use insights effectively, and build long-term value instead of chasing short-term hype.”
Trends Shaping the Next Phase of iGaming in Canada
- Branding + data-led acquisition let emerging brands challenge incumbents more effectively than ever.
- Crypto-friendly casinos are moving from niche to mainstream consideration for Canadian users.
- SEO, content strategy, and affiliate partnerships remain reliable, capital-efficient growth levers.
- Compliance, transparency, and UX are central to sustainable market share gains.
Looking Ahead
The fastest-growing casino brands capture more than impressive statistics—they reflect a market in transformation. With Wild Tokyo setting creative benchmarks and veterans like BetVictor and ComeOn proving that brand equity still matters, Canada’s iGaming sector is entering a phase defined by intelligent growth, regulatory maturity, and player empowerment.
As the industry continues to evolve, the Mr. Gamble Casino Trends Meter remains a useful compass for players, affiliates, and operators navigating this fast-changing landscape.
The post Canadian iGaming Growth Trends 2025: Data, Strategy, and the Brands Defining the Market appeared first on European Gaming Industry News.
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Ezugi, an innovative live dealer casino supplier known for pushing the boundaries of live gaming, retention, and distribution solutions, is proud to announce a new partnership with PokerStars, the world’s largest online poker site.
Through this partnership, PokerStars’ players in the UK and Ontario will gain access to Ezugi’s standout portfolio, including Revolution Roulette, Ultimate Roulette, Unlimited Blackjack and Lucky 7 online casino games.
PokerStars, launched in 2001, is one of the world’s leading online poker and casino brands and operates as part of Flutter Entertainment. It has grown to become the largest poker site globally, offering the widest selection of online games and hosting prestigious live tournaments.
Formed in 2012, Ezugi is a global live casino provider with a focus on meeting operator and player needs with best-of-breed localised content. The Ezugi games portfolio includes a wide range of live dealer games, many of which are unique. Ezugi became part of Evolution in 2018 and continues to build on its reputation for providing unique and innovative games and solutions for online casino and retail betting shop operators.
Gilad Ben-Ami, Chief Executive Officer at Ezugi, said: “PokerStars’ players already enjoy a wide range of live casino and online slot games from Evolution brands such as Evolution, NetEnt, Red Tiger and Big Time Gaming. Now Ezugi is delighted and honoured to add even more choice for PokerStars’ players with our own innovative games.”
Ben-Ami continued: “The release of Ezugi games to PokerStars clearly demonstrates the rich variety and innovative features of the Ezugi games portfolio. Ultimate Roulette is a unique multiplier Roulette that blends circus-themed fun and TV game show excitement; Revolution Roulette puts a unique spin on classic Roulette by adding special multiplier pockets to the wheel; Unlimited Blackjack allows an unlimited number of players to play at the table, while also featuring Auto-Split functionality and a choice of four side bets – Perfect Pairs, 21+3, Perfect 11 and Ten20; and Lucky 7 is a very popular game with its origins in the Indian subcontinent – a fast-paced, simple and exciting Hi-Lo card game.”
Ben-Ami concluded: “We are confident that PokerStars’ players will love playing these games and we look forward to adding more Ezugi titles for them in the future.”
The post Ezugi partners with PokerStars to further extend live casino game choice for players appeared first on European Gaming Industry News.
After A Review Of Canada’s Gambling Landscape, RoboCat Casino Was Awarded The “Best Online Casino In Canada 2025” Based On 8,000+ Games, Responsible Gambling and Fast Payouts
Vancouver, Sept. 24, 2025 (GLOBE NEWSWIRE) — 
RoboCat Casino, an award-winning online casino with presence on Europe, Australia, New Zealand, UK, USA and LATAM, was recently awarded the title of “Best Online Casino in Canada 2025” after a comprehensive review of the online gambling industry in the country, performed by experienced iGaming specialists.
New players can take advantage of RoboCat Casino’s welcome bonus by joining their platform today:
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RoboCat currently offers the biggest welcome bonus, because new players can get 100% extra on their first deposit + 200 Free Spins + a surprise bonus (more free spins, free money, cashback, amongst other possible rewards).
In addition, the Canadian online casino also offers over 8,000 real money games from the best providers in the world, putting the best online slots, blackjack, poker, baccarat, craps, crash, plinko, live dealer, lotto and bingo games at the disposal of online players and bettors in Canada.
“The mission of our team is to help players find the best sites for gambling online so they can enjoy an exciting, rewarding and safe online gaming experience” – “… and we found that RoboCat is on top of all the other online casinos in Canada, because it delivers more value in all the areas that matter for online players and bettors”.
A Comprehensive Review Focused on the Player
The team that performed the review and research revealed that they focused it on the player, hence they targeted the following areas:
- License
- Fairness
- Quality of Games
- Quality of Bonuses and Promotions
- Payment Methods and Banking Experience
- Online Security
- Mobile Experience
- Quality of Sportsbook
- KYC
- Limits for Deposits and Withdrawals
- Customer Support Service
The team used these key elements to develop the criteria for selecting, reviewing, and comparing the top online casinos in Canada, ultimately choosing RoboCat Casino as the best real money gambling platform for 2025.
The team explained that RoboCat was named ‘Best Online Casino in Canada 2025’ due to its outstanding performance across all evaluated criteria.
“RoboCat offers over 8,000 games from nearly 100 top-class providers, which is the largest library of real money games in Canada nowadays” – “offering such an outstanding number of high-quality games allows RoboCat to bring its customers a significantly better online gaming experience, especially for online slots players”.
“Regarding bonuses, RoboCat Casino is the most generous platform in Canada because it offers a big welcome bonus, plenty of weekly and weekend reload bonuses which reward players with free money and free spins, extra rewards of free spins, cashback, rakeback, amongst other benefits that other Canadian online casinos fail to deliver”.
The team shared their comments for all the evaluated criteria regarding RoboCat, offering a complete overview on why they elected this brand as the best platform for real money gambling in Canada:
- License: License issued by the Offshore Finance Authority of The State of Anjouan
- Fairness: Audited by independent third-party auditing firms
- Quality of Games: 8,000+ real money games from industry-leading providers such as NetEnt, Evolution, Microgaming, Habanero and Jumpman
- Quality of Bonuses and Promotions: 100% extra on first deposit + 200 Free Spins; reload bonuses, cashback, free bets, rakeback and free spins rewards. Featuring low wagering requirements
- Payment Methods and Banking Experience: Instant deposits, fast payouts, plenty of payment methods including credit cards, debit cards, trending digital wallet currencies, FundID and Interac
- Online Security: Uses military-grade encryption, has a dedicated online security team, secured servers, no history of data leaks or breaches
- Mobile Experience: Offers an HTML5-powered mobile website available on all browsers, runs on Android and iOS flawlessly
- Quality of Sportsbook: Offers over 35 sports and esports with high odds and exclusive bonuses such as free bets, deposit bonuses, reload bonuses and cashback
- KYC: Easy to fulfill KYC procedures, no requirement to complete KYC as a new user or to get first withdrawal approved
- Limits for Deposits and Withdrawals: Unlimited limit for deposits and withdrawals up to $10,000 per day. The casino can increase the limits for high rollers
- Customer Support Service: Available via live chat, email and phone. Fast answer time and professional customer support team
The team expressed their happiness in finding an online casino which can offer Canadian players and bettors the online betting and gambling experience they deserved: “RoboCat scores high in all the areas that matter, offering an outstanding, exciting, safe and fair experience”.
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RoboCat Casino Actively Promotes and Enforces Responsible Gambling
The team explained that they considered the commitment to responsible gambling as an important factor in their comprehensive review of the industry: “A platform can deliver everything players want, but if they fail to protect players and promote responsible gambling, we take it out of our ranking… because gambling must be fun but also safe”.
RoboCat Casino is equipped with technology and a dedicated team which can detect problematic gambling patterns, providing affected players with prompt solutions and assistance.
The online casino also offers tools and features to limit the spending on their platform, granting players the possibility to control their online gambling activities.
The specialists also confirmed that RoboCat Casino provides a self-exclusion feature, with 24/7 customer support available to assist players in closing their accounts if needed.
“The era of unregulated online gambling is over. Today, safety comes first—one of the key reasons we chose RoboCat as Canada’s top online casino for 2025. They prioritise player protection and take responsible gambling seriously.”
“RoboCat Is The Best Brand in 2025, But Let’s See If They Retain Their Place in 2026”
“After making this in-depth review, analysis and research, we found out RoboCat is the best online casino brand for Canadian players in 2025” – “… but you know, the online gambling industry is extremely fast-paced. You have new brands every single month, and they’re competing fiercely against each other. Therefore, we are going to revisit our research and perform a new analysis in 2026, to see if RoboCat remains the best online casino in Canada or if another brand is going to take its place” – concluded Angel K.
To celebrate this award, RoboCat has released a new welcome bonus of 100% extra on the first deposit + 200 Free Spins + 1 surprise bonus, which new players can redeem below:
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- Live Chat: https://casinos.cc/robocat-casino/support/
- Email: [email protected]
Disclaimer
This article contains affiliate links. If you purchase through these links, a commission may be earned at no additional cost to you. The information provided is for informational purposes only and is not investment, financial, medical, or legal advice. Readers should verify details independently and consult qualified professionals before making any purchasing or financial decisions
CONTACT: Live Chat: https://casinos.cc/robocat-casino/support/ Email: [email protected]
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