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Leading Esports Sportsbook and Media Company Rivalry Closes Oversubscribed US$22 Million Subscription Receipt Financing

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Next gen sports betting and media company Rivalry has now raised over US$40 Million in the last twelve months to support its rapid growth

TORONTO, June 22, 2021 (GLOBE NEWSWIRE) — PMML Corp. (the “Company”), the parent company of Rivalry Limited (“Rivalry”), an internationally regulated sports betting and media company, is pleased to announce that, on June 9, 2021, it completed an oversubscribed subscription receipt financing for gross proceeds of approximately US$22 million (the “Offering”). The Offering was co-led by Eight Capital and Cormark Securities Inc., with a syndicate of agents including Canaccord Genuity Corp. and M Partners Inc. Institutional investors from Canada, the United States, the European Union, and Australia participated in the Offering. The Company expects to use the proceeds from the Offering to fund Rivalry’s growth through hiring, country expansion, new product and media expansion.

“At Rivalry we are working to innovate the sports betting category for a new generation of consumers globally,” says Steven Salz, Co-Founder and CEO of Rivalry. “Since launch, our strategy has been to lead from the front with esports and gaming media as a brand, and pair that with a market-leading product built top to bottom in-house. Creating a brand that fans love and is organically a part of their respective community is critical, and the product must be innovative and original as well. We have been executing on this vision, delivering double digit month over month growth on average for more than two years, and are eager to begin deploying this new capital against our plans to materially enhance our output across all key pillars of the business.”

As a company founded and based in Canada, Rivalry is closely monitoring and preparing for the potential national legalization of single event sports betting, and obtaining an iGaming license in the province of Ontario. Rivalry is a proud member of the Toronto tech community, having built the foundation of its team with local talent. The Company intends to continue making Toronto home for its innovative product development and is excited by the prospect of offering its products to Canadians for the first time.

“Following significant growth in 2020 and Q1/21, this injection of new funding comes at a critical inflection point in the Company’s history,” continued Steven Salz. “To meet the rapid growth we are seeing within the business we are meaningfully scaling our team while simultaneously expanding into new markets, increasing our original product IP portfolio and materially enhancing the volume and production quality of our media arm. Combined with operational execution across all levels of the business, pending legalization of sports betting at home, and our intention to complete a public listing later this year, we are more excited than ever about what the future holds for Rivalry.”

Within 120 days following the June 9, 2021 closing of the Offering (the “Escrow Release Deadline”), the Company intends to file and obtain a receipt for a final prospectus (the “Qualifying Prospectus”) qualifying the securities issuable upon conversion of the subscription receipts (the “Underlying Shares”) and to obtain the conditional approval to list the Underlying Shares on a recognized public stock exchange (the “Exchange Approval”). The filing of, and receipt for the Qualifying Prospectus and the Exchange Approval must be satisfied prior to the Escrow Release Deadline in order for the net proceeds of the Offering to be released from escrow to the Company.

About PMML Corp. and Rivalry
Rivalry Limited, a wholly owned subsidiary of PMML Corp., is a leading sport betting and sports media property offering fully regulated online wagering on esports, traditional sports, and casinos for the next generation of bettors. Rivalry Limited currently holds an Isle of Man license, considered one of the premier online gambling jurisdictions. Based in Toronto, Rivalry operates a global team of nearly 70 staff and growing. Rivalry Limited was granted its Isle of Man license in early 2018, officially launching in August of that year, and the Company is currently in the process of obtaining multiple country licenses in parallel. The Company also has a variety of originally developed products, including Quest, a gamified on-site betting experience, and a growing suite of original casino games called Rushlane that offers both B2C and B2B opportunities.

Company Contact:
Steven Salz, CEO
[email protected]

Media Contact:
BRANDSTYLE COMMUNICATIONS
Kell Cholko / [email protected]
484.797.2014

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”), including but not limited to statements regarding the intended filing and timing of the Qualifying Prospectus and Exchange Approval, and the use of the net proceeds of the Offering if the foregoing are receipted and obtained, respectively, prior to the Escrow Release Deadline. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include: the ability for the Company to meet all securities regulatory and other stock exchange listing requirements in order to obtain a final receipt for the Qualifying Prospectus and Exchange Approval within the intended timeframe and prior to the Escrow Release Deadline, regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the e-sports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of e-sports and other betting products are not guaranteed; changes in public perception of the e-sports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions.

No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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Best in Sports named as “Sports Betting Supplier of the Year” by 5 Star iGaming Media Starlet Awards

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FIRST – Best in Sports, the Tier-1 sportsbook technology provider redefining global performance standards, has been honoured as “Sports Betting Supplier of the Year” at the 5 Star iGaming Media Starlet Awards 2025, recognising the company’s innovation, expansion, and leadership across regulated markets.

The award marks another milestone in a transformative year for FIRST, as the company continues to lead the sportsbook vertical with measurable results, a performance-driven product vision, and a growing footprint across LATAM, Europe, and Africa.

Built from the ground up for speed, scale, and absolute reliability, FIRST’s sportsbook engine has become the driving force behind more than 35 of Brazil’s leading operators, expanding rapidly through Mexico, Peru, and Argentina – markets that reward real technological power, not promises.

In regions where regulation is tightening and competition intensifying, FIRST has set a new benchmark for what performance means: instant automation, real-time data orchestration, AI-driven personalisation, and a seamless architecture that adapts faster than the market itself.

2025 was the year FIRST stopped chasing momentum and started defining it. With new strategic partnerships alongside Light & Wonder, Pixbet, and others already in motion, the company is not just participating in the race for innovation – it’s setting the pace. These collaborations are not about validation but about leadership: where others adapt, FIRST dictates direction.

Beyond commercial growth, FIRST has also advanced its regulatory roadmap, securing approvals and pursuing licences in multiple regulated markets, ensuring full compliance and future-ready scalability for its operator base.

Tom Light, Founder & CEO of FIRST – Best in Sports, commented:
“This recognition reflects our commitment to building the most advanced sportsbook technology in the market – one that’s fast, scalable, and truly local. But more than that, it celebrates the mindset of our entire team: we don’t follow trends, we create them. We set the standard for what a sportsbook partner should be.”

As the industry continues to evolve, FIRST remains focused on innovation that drives measurable impact – delivering the performance, reliability, and intelligence that define the future of sports betting.

The post Best in Sports named as “Sports Betting Supplier of the Year” by 5 Star iGaming Media Starlet Awards appeared first on European Gaming Industry News.

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PH iGaming Streamers Unite to Promote Responsible Gaming Amid Crackdown on Creators Promoting Illegal iGaming

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Philippine Esports pioneer Julius “Banoobs” Mariano today announced the launch of YGS Live (Your Game Simulator Live), a next-generation livestream platform built to empower iGaming streamers, creators, and fans through responsible entertainment with PAGCOR-license games. Alongside its debut, YGS Live introduces Battle of the Streamers, a major international iGaming competition featuring an 11-million-peso prize pool that will run every Saturday starting November 15 and culminate in a grand battle event in January 2026 at City of Dreams, Manila.

A veteran of the Philippine esports community, Banoobs has spent over a decade shaping the industry from the ground up. From his early work with Mineski Events Team in 2007, to his leadership as Twitch Country Manager for the Philippines, and senior roles with Ampverse (Minana) and Blacklist International, Banoobs has continuously championed Filipino talent and esports innovation both locally and globally.

“YGS Live is built for creators who want to grow, collaborate, and elevate the iGaming space responsibly,” said Julius “Banoobs” Mariano, Founder of YGS Live. Beyond competition, YGS Live promotes responsible iGaming as a core mission. “Influence comes with responsibility,” Mariano shared. “We want YGS Live to be a platform that doesn’t just entertain but also educates, helping shape a healthier iGaming culture for players and viewers alike.”

Battle of the Streamers marks YGS Live’s flagship program, bringing together some of the country’s most influential iGaming streamers and content creators, including ChooxTV, Hypebits, Foreigngerms, AD BEAT, BULLDOG, AkosiDogie, and Beatmaster. All participating influencers exclusively support PAGCOR-licensed iGaming platforms, reflecting YGS Live’s advocacy to discourage and curb the promotion of content creators involved with illegal or scam iGaming sites, upholding ethical and responsible content creation.

The weekly competition will feature friendly yet high-stakes matchups among the Philippines’ most-followed iGaming personalities, paired with interactive segments for online fans.. To further engage its community, YGS Live will reward viewers throughout the tournament, giving away 3 million pesos in total community prizes, with 300,000 pesos distributed per livestream to participating fans and viewers.

YGS Live operates as a broadcast network dedicated to iGaming and entertainment-based content. It provides a collaborative, brand-safe environment where creators, partners, and fans can engage openly while upholding ethical standards in streaming and gameplay.

Through YGS Live, Banoobs envisions a future where Filipino streamers and creators are recognized as global leaders in iGaming and online entertainment. The platform is positioned to become a creative hub for responsible, community-driven, and inclusive iGaming, what Mariano calls “the GMA or Netflix of iGaming entertainment.”

The post PH iGaming Streamers Unite to Promote Responsible Gaming Amid Crackdown on Creators Promoting Illegal iGaming appeared first on European Gaming Industry News.

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Q3 2025 financial results: Ten Square Games delivers solid progress in portfolio transformation

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In Q3 2025, Ten Square Games Group recorded 4.4% q/q growth in bookings, reaching PLN 85.0 million, driven by the continued growth of Wings of Heroes and the entire flight simulation segment, as well as the addition of Trophy Hunter to the Group’s portfolio. At the same time, the Group advanced its strategic portfolio transformation by executing the rebuild process in its core titles. During the quarter, Ten Square Games successfully launched Trophy Hunter, which had a positive impact on Group’s bookings, finalized preparations for the global launch of Real Combat Simulator, and initiated work on a new prototype scheduled for market testing in Q4 2025 to broaden the Group’s future potential.

-“The third quarter of 2025 brought clear progress in delivering on the key pillars of our strategy: rebuilding the foundations of our core titles, accelerating the growth of Wings of Heroes, and investing in new projects. The successful launch of Trophy Hunter, combined with the dynamic growth of Wings of Heroes, helped offset weaker performance of our main titles and increase the Group’s total bookings. This shows that our ongoing initiatives are beginning to deliver tangible results.”
– said Andrzej Ilczuk, CEO of Ten Square Games S.A.

Global launch of Trophy Hunter

A major highlight of the quarter was the global launch of Trophy Hunter. The game generated PLN 3.2 million in bookings in its debut quarter, supported by PLN 6.1 million in marketing expenditures, and has maintained attractive retention and monetization metrics justifying continued scaling. Since launch, the Trophy Hunter team has executed an ambitious development roadmap packed with new arenas and features that further strengthen the product and keep players engaged. In Q4 2025, the game will be further expanded with a major new social feature and additional arenas. The new feature is designed to further boost player engagement.

Rebuild of the Group’s two largest titles

A key project in the third quarter of 2025 remained the transformation process of the Group’s two largest titles – Fishing Clash and Hunting Clash. Both teams continued intensive A/B testing aimed at improving player segmentation and the first-time user experience (FTUE), while also implementing a series of technical enhancements to improve game stability and performance.

The main challenge of this process lies in its time-consuming and large-scale nature – each A/B test typically lasts at least three months, and not all of them deliver positive results, often requiring the team to redesign and rerun tests. In addition, the number of tests that can be conducted simultaneously is limited to avoid distorting the results. Ongoing activities may temporarily affect game operations, player experience, and marketing activity levels.

Despite these challenges, a systematic, data-driven approach remains the most effective method to identify the root causes of game performance issues and to implement lasting improvements that can, over time, help restore growth in the Group’s flagship titles.

Scaling Wings of Heroes

In Q3 2025, Wings of Heroes recorded a 33.4% q/q increase in bookings, driven by record marketing investment and new social features that enhanced player engagement. The game’s strong performance, together with the continued stable growth of Real Flight Simulator – one of the most advanced mobile flight simulation games on the market – strengthened the entire segment’s contribution to the Group’s results.

In September 2025, the Real Flight Simulator team launched the Real World Engine, delivering the most comprehensive visual and technical upgrade to date and setting new standards for immersion, realism, and navigational accuracy in a mobile flight simulation.

The systematic development of flight simulation titles and their stable growth help the Ten Square Games Group stabilize overall bookings and partly offset weaker performance in its main titles.

New projects

In Q3 2025, the Group focused on preparing for the global launch of Real Combat Simulator, which took place on October 7, 2025. The title, developed in a subscription-based model, is unique in the mobile market, with no direct competitors in its segment. With this launch, the Ten Square Games Group is testing the potential of the mobile flight combat game segment.

The launch took place without marketing support, and the game is scheduled to be featured on major distribution platforms at the beginning of 2026.

In Q3 2025, the Ten Square Games team worked intensively on a new prototype inspired by the proven gameplay model of Trophy Hunter and built on the Group’s experience from previous projects. The first market test, across two selected markets, will take place in Q4 2025. A decision regarding the further development of the prototype into a full game will be made no earlier than in the first half of 2026.

The project represents an attempt to broaden the Group’s portfolio beyond the segments in which Ten Square Games currently specializes, marking an important step toward greater diversification and long-term growth.

Financial performance

In Q3 2025, the Ten Square Games Group recorded bookings of PLN 85.0 million, representing an increase of 4.4% q/q, primarily driven by Wings of HeroesTrophy Hunter, and Real Flight Simulator. Adjusted EBITDA decreased to PLN 22.1 million, mainly due to the highest quarterly marketing investment in 2025. The net profit amounted to PLN 17.8 million. Cumulatively for the first nine months of 2025, the Group’s bookings totaled PLN 256.9 million, adjusted EBITDA stood at a strong PLN 79.6 million, and net profit increased by 24.3% y/y to PLN 65.2 million, confirming the financial resilience and efficiency of the Company’s operating model, despite lower overall bookings compared to the previous year.

The share of TSG Store in total bookings amounted to 20.3% in September 2025, reflecting the shift in Group’s portfolio and strong performance of titles without TSG Store integration.

Q4 2025 Focus and Outlook

In the fourth quarter of 2025, Ten Square Games Group will continue to focus on three strategic pillars:

  1. Rebuilding and optimizing core titles to stabilize performance and rebuild long-term value.
  2. Supporting the growth of Wings of Heroes and the flight simulation segment through continued product, supported by marketing investments in Wings of Heroes.
  3. Developing new projects with the potential to diversify and strengthen the Group’s portfolio.

The fourth quarter is traditionally a highly competitive period in digital marketing due to the holiday season. As a result, user acquisition costs are expected to rise, which may temporarily reduce marketing activity in selected titles.

The post Q3 2025 financial results: Ten Square Games delivers solid progress in portfolio transformation appeared first on European Gaming Industry News.

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