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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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Midnite’s Ashes preview: Plenty of backing for England Down Under

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Midnite’s Head of Trading Ben Cullen looks ahead to the 2025/26 Ashes series between Australia and England

This is England’s best chance of winning an Ashes Series in Australia since their last victory Down Under 15 years ago and bettors seem to be in agreement as we build up to Friday’s early morning opener in Perth.

This is England’s first trip to Australia since the dawn of ‘BazBall’ era but will be well followed as usual by the Barmy Army and we make them a boosted 5/2 to regain the Urn on Australian soil.

As we head into the first Test in Perth, Australia’s bowling attack is somewhat depleted with captain Pat Cummins and Josh Hazelwood both ruled out of the first Test and there remains question marks around the opening batsmen.

This combined with no new injury concerns for England, has been enough for punters to be tempted by the 29/20 on offer for Ben Stokes’ side to win the opening Test and take a 1-0 lead.

One concern of note is Joe Root’s lack of a Test century in Australian conditions. While being well on his way to surpass Sachin Tendulkar as the leading Test runscorer in history, his technique has left question marks over him being able to finally score a ton Down Under.

However, since the last tour in Australia the Yorkshireman has scored almost 4,000 Test runs at 57.14 – Midnite have boosted him to 3/1 to be England’s leading batter in the first Test and 5/1 to be the top batter across the series.

With the ball in hand, England appear to have a fully fit seam attack for now with Jofra Archer and Mark Wood both likely to feature together in the first Test.

Archer is 5/2 to be England’s top series bowler across the series whilst a fully fit Mark Wood wreak havoc on Australian decks with wicket-keeper Jamie Smith already mentioning that he “nearly took his head off” in the nets – we have Wood at 7/1 to be England’s top bowler.

Midnite have a range of pre-match markets available on site as the hours countdown to what is sure to be an explosive first Test in Perth as well as a plethora of Series Outrights and Boosted Prices.

We’ll be offering In-Play betting throughout the series, which could be of favour to punters when they wake up each morning of the day-night Test at ‘The Gabbatoir’ with the last two sessions being at a more reasonable time for UK viewers.

The post Midnite’s Ashes preview: Plenty of backing for England Down Under appeared first on European Gaming Industry News.

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The future of safer gambling: The power of advanced monitoring systems and data-driven strategies to monitor player safety

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SkillOnNet Safer Gambling and AML Risk team manager Loizos Theodosiadis on using behavioural tracking systems and analytics to enable proactive risk management.

The future of safer gambling is rooted in predictive analytics and personalised protection. At SkillOnNet, we identify risks of gambling-related harm through both proprietary and third-party software. The third-party system, developed by Neccton and called the MENTOR player-tracking system, enables early detection of behavioural risk long before issues manifest.

These systems analyse vast amounts of data to identify subtle behavioural changes, enabling us to intervene proactively. As I often say, the most exciting developments are around predictive analytics and personalised protection. We’re working on better behavioural modelling to spot risks even earlier and guide players towards sustainable behaviour based on actual patterns, not fixed limits.

Our platform, incorporating Neccton’s system, exemplifies this approach. It continuously monitors player behaviour, flags higher-risk activities, and provides real-time alerts through popups, messages, and dashboards. This allows our teams to act swiftly, offering support or guidance precisely when it’s needed most. Automation supports us by supporting the players, delivering tailored messages about long sessions or risky spending habits.

This move towards personalised, behaviour-based interventions marks a significant shift from traditional, one-size-fits-all thresholds. The future of safer gambling tools lies in advanced monitoring systems and data-driven behavioural analysis profiling players.

Safer Gambling Week and the Role of Industry Collaboration

I believe that Safer Gambling Week is really important. It gives everyone in the industry a chance to pause and focus on the same priority, keeping players safe. We talk about safer gambling all year, but the week helps us amplify everything.

As well as just bringing together our own brands such as Slingo, the official site for Slingo games, and Spin Genie, a leading slots casino in the UK.

Throughout the year, our commitment doesn’t waver, but the week serves as a catalyst for greater awareness and collaboration. It’s an opportunity to reinforce that safer gambling should be a normal, embedded part of our operations and not just a regulatory checkbox. Creating an environment where players feel supported, informed, and empowered is fundamental.

Responsibility is at the core of everything we do. We believe that what sets us apart is how proactive we try to be. We don’t rely on generic thresholds; we focus on behaviour, spotting subtle changes, and acting early even before anything becomes obvious. This proactive stance involves significant investment in staff training, leveraging technology, and fostering a culture of empathy and care.

Our teams are trained to recognise behavioral cues whether in retail or digital environments – such as agitation, long play sessions, or mood swings. With Genting Casino for example, we use algorithms to identify risky behaviours early. Both environments present risks; the key is awareness, communication, and a duty of care. GentingCasino.com offers a premier gaming experience with top-tier slots and we want to offer top-tier player safety.

This proactive approach ensures that support is delivered before problems escalate, emphasising early detection and compassionate intervention. Our strategy is built on the understanding that safer gambling is discussed at senior levels and built into our strategy, not just treated as an add-on, reinforcing a genuine cultural shift within our organisation.

Strengthening Governance and Industry Standards

As online gambling becomes more accessible, I advocate for stronger governance frameworks to protect players effectively. Online environments have more accessibility, so we need a stronger governance framework. Retail needs trained professionals who understand behavioural cues.

I support the implementation of industry-wide standards for affordability and financial risk checks. I support an industry-wide standard for affordability and financial risk checks – applied consistently across all operators. It requires government clarity, data sharing standards, and a balance between consumer rights and harm prevention. Consistent application of these standards, combined with data sharing and regulatory clarity, will ensure that safer gambling practices are effective, fair, and respectful of players’ privacy.

The Ongoing Journey for Operators

While our industry has made significant progress, I believe the journey is ongoing. The industry is on a journey. Many operators, including us, are genuinely committed to embedding safer gambling into their culture. While responses have been reactive in the past, that’s changing.

Today, safer gambling is recognised as a core business priority – about sustainable play, long-term loyalty, and safeguarding reputation. Safer gambling is now a core business priority – about sustainable play, long-term loyalty, and reputation. As we look to the future, I am confident that companies investing early and embracing transparency will set the standard, shaping a healthier and more responsible industry.

SkillOnNet is a leading casino operator that offers a diverse range of online gaming brands. They offer cutting-edge technology, premium content and solutions for some of the industry’s most recognisable names.

They operate a wide range of successful brands including premium online GentingCasino.com, Prime Casino who offer a diverse selection of games as well as Slingo who offer a premium Bingo experience.

Throughout its extensive game catalogue from top-tier developers, SkillOnNet ensures players enjoy a safe, engaging and entertaining environment. They continue to lead the market with its flexible platform, localise expertise and strategic partnerships to offer best-in-class casino entertainment.

The post The future of safer gambling: The power of advanced monitoring systems and data-driven strategies to monitor player safety appeared first on European Gaming Industry News.

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Room 8 Group partners with Pragma to strengthen online game development capabilities

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Room 8 Group, an end-to-end strategic partner in external game development, has announced a partnership with Pragma, a company providing tools that help studios build online games faster, connect with players, and grow their communities.

This partnership enables Room 8 Group to integrate Pragma Platform, the game industry’s leading backend solution for connected games. Pragma delivers a comprehensive suite of cross-platform services, including authentication, social, commerce, player data, matchmaking, and telemetry, empowering developers to manage every stage of a game’s lifecycle, from launch to live ops and growth.

Room 8 Group always takes a consultative approach to co-development – making every technical decision based on what brings the greatest value and efficiency to the client, rather than relying on predefined service offerings.

 “We partner with leading technology providers to ensure our clients have access to the most effective solutions. Pragma’s platform brings clear benefits in scalability and player engagement, and we see real potential in implementing it within future projects.”  

Anna Kozlova, CEO at Room 8 Group.

As online functionality and live services have become a part of many modern games, Room 8 Group continuously explores new tools that reduce time-consuming and costly custom development while preserving each game’s unique character.

“Room 8 Group’s deep technical expertise and proven ability to integrate our solutions across different client needs and technology stacks makes them an ideal partner for Pragma. Together, we’re enabling studios to deliver connected, high-quality gaming experiences faster, more efficiently, and at greater scale.” 

Eden Chen, CEO at Pragma 

Together, Pragma and Room 8 Group are building the infrastructure that helps studios ship faster, operate smarter, and deliver better player experiences.

The post Room 8 Group partners with Pragma to strengthen online game development capabilities appeared first on European Gaming Industry News.

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