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Rivalry Announces All-Time Record Business Performance in October

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Rivalry Corp., an internationally-regulated sports betting and media company, is pleased to announce that the Company saw record results in its business across multiple key performance indicators in the month of October 2021. The Company also provided clarification on its regulatory application in Ontario. All dollar figures are quoted in Canadian dollars.

“In October Rivalry delivered an all-time record performance across nearly all KPIs. I believe this is a testament to the focus and drive of the team in our first month as a public company,” said Steven Salz, Co-Founder and CEO of Rivalry. “In addition to going public, we launched Rushlane, an innovation in Casino games that we believe will reinvent the category (MMOGGs), applied to become a fully registered operator for sports betting and internet gaming in our home province of Ontario, and experienced record activity across the business. These milestones help to enhance Rivalry’s global brand equity as a leader in next gen esports betting, our position as innovators in the sector, and increase the number of geographies globally that Rivalry can legally operate in.”

Highlights for October 2021 include the following:

  • Betting handle1 of $12.8M was the highest monthly figure ever recorded by the Company, exceeding the previous monthly high by more than 40% and the October 2020 (YoY) figure by more than 350%.
  • Monthly active bettors similarly reached a new all-time high, more than 80% above the previous monthly record and up more than 200% from October 2020.
  • The Company officially launched Rushlane, a proprietary casino game that marks the creation of a new category for online gaming: Massively Multiplayer Online Gambling Games (MMOGG).
  • With the official launch of Rushlane, therefore exiting the soft launch phase, Rivalry saw a more than 150% increase in total Rushlane wagers over the previous month.
  • Brand engagement continued to grow, with nearly all Rivalry content channels seeing a 50% increase month-over-month in engagement through October, with some growing by triple digits.
  • The Company’s subordinate voting shares commenced trading on the TSX Venture Exchange on October 5, 2021.

“This October saw a great combination of esports events. We had both League of Legends Worlds and Dota 2 The International in October, which marks two of the biggest esports events of the year. Esports like traditional sports does have seasonality, that said, the results we delivered in October demonstrate the significant torque in the business and our ability to attract and convert new customers, and engage existing ones,” said Steven Salz, Co-Founder and CEO. “We also saw a meaningful increase in traditional sports betting, which will support our product mix, and reduce seasonality as the esports and traditional sports betting calendar generally spike at different times in the year,” Salz continued. “Given the demographic we primarily serve, being on average at least a decade younger than sports bettors on traditional sportsbooks, the volume of bets Rivalry saw to deliver a $12.8 million monthly handle was significant. As our user demographic matures, we believe the corresponding growth in our total addressable market presents a significant value capture opportunity that will continue to differentiate Rivalry from its peer group as we deliver the product and brand of choice to this next generation.”

The Company expects to provide additional details later this month when it reports financial results for the quarter ended September 30, 2021.

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Clarification on Ontario Regulatory Process

On October 28, 2021, the Company announced that it had submitted an application to the Alcohol and Gaming Commission of Ontario (the “AGCO“) to become a fully registered operator of internet gaming and sports betting in the province. The Company wishes to provide further details to more fully describe the anticipated regulatory process.

Upon Rivalry’s registration with the AGCO, the Company will seek a commercial agreement with the AGCO’s subsidiary, iGaming Ontario. With this registration and agreement, the Company will be able to offer its esports and sports betting products and one-of-a-kind casino offering, Rushlane, to customers in Ontario. The Company anticipates that the successful completion of this process could result in Rivalry commencing esports, sports betting, and iGaming operations in Ontario within the first half of 2022.

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Canada

Greo and CCSA Release New Report Named “Gambling Availability and Advertising in Canada: A Call to Action”

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Recent gambling policy changes in Canada have led to increased opportunities to legally bet on sports and gamble online, 24 hours a day, seven days a week. The report “Gambling Availability and Advertising in Canada: A Call to Action” looks at the impacts of legal gambling in Canada since the approval of the Safe and Regulated Sports Betting Act in 2021. The report recommends developing a pan-Canadian strategy to address gambling-related harms. This is a new report by Greo Evidence Insights (Greo) and the Canadian Centre on Substance Use and Addiction (CCSA).

This call to action is in response to the significant increase in gambling advertising on billboards, social media, at commercial breaks during sports broadcasts and during sporting events. Increased gambling availability and advertising are expected to contribute to increased gambling in Canada, thereby posing a significant risk of harms among the general population, particularly for youth, young adults and other vulnerable populations.

The report also describes how the increased availability of gambling and in gambling advertising are of great concern because:

  • The types of gambling being made available and promoted (single-event sports betting and live or in-play betting) are associated with a greater risk of harm. For example, single-event sports betting increases gambling intensity and gives an illusion of control over the outcome as people believe their knowledge of the game gives them a competitive edge.
  • The volume of gambling advertisements repeatedly pairing sports with betting normalizes gambling, leading people to think of betting as an integral part of being a sports fan.
  • Increased availability of gambling and in gambling advertising are happening at a time when many people in Canada are more vulnerable to problematic gambling and gambling-related harms because of the lingering health impacts of COVID-19 and a rise in the cost of living.

“Over the last few years, we have witnessed some of the most significant changes in gambling policy since the 1970s. We have seen a massive increase in gambling advertising and opportunities to gamble. We can no longer watch sports with our kids or go online without being subjected to an overwhelming amount of gambling advertising. Canada is at a critical moment in how it manages gambling. A national strategy or framework — similar to what we have for alcohol, tobacco and cannabis — is critical to manage the expected increase in gambling harm, especially among youth and other vulnerable people,” explained Dr. Matthew Young, Chief Research Officer at Greo, Senior Research Associate at the CCSA and Adjunct Professor at Carleton University.

The report recommends developing a national strategy that will:

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  • Develop national standards governing the promotion and availability of gambling;
  • Manage conflicts of interest among gambling stakeholders;
  • Address inadequate funding for gambling harm prevention and reduction initiatives and research;
  • Monitor systematic changes in gambling-related harm, including any assessments of the social and economic costs of gambling; and
  • Increase awareness of gambling-related harms among health and social service professionals and the public.

“Increased gambling among people living in Canada will undoubtebly result in increased harms and therefore increased societal costs. These include healthcare costs, criminal-justice costs, child welfare costs, increased unemployment and lost productivity costs because of gambling-related suicide. We need to think about our approach and ensure that it considers not only short-term government revenue and economic activity but also the longer-term societal costs. That’s why we need a national strategy,” Dr. Pam Kent, Director of Research and Emerging Trends at CCSA, said.

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Canada

Call for a National Strategy to Address Gambling-Related Harms in Wake of Sports Betting Boom

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Recent gambling policy changes in Canada have led to increased opportunities to legally bet on sports and gamble online, 24 hours a day, seven days a week. Released today, Gambling Availability and Advertising in Canada: A Call to Action looks at the impacts of legal gambling in Canada since the approval of the Safe and Regulated Sports Betting Act in 2021. The report recommends developing a pan-Canadian strategy to address gambling-related harms. This is a new report by Greo Evidence Insights (Greo) and the Canadian Centre on Substance Use and Addiction (CCSA).

This call to action is in response to the significant increase in gambling advertising on billboards, social media, at commercial breaks during sports broadcasts and during sporting events. Increased gambling availability and advertising are expected to contribute to increased gambling in Canada, thereby posing a significant risk of harms among the general population, particularly for youth, young adults and other vulnerable populations.

The report also describes how the increased availability of gambling and in gambling advertising are of great concern because:

  • The types of gambling being made available and promoted (single-event sports betting and live or in-play betting) are associated with a greater risk of harm. For example, single-event sports betting increases gambling intensity and gives an illusion of control over the outcome as people believe their knowledge of the game gives them a competitive edge.
  • The volume of gambling advertisements repeatedly pairing sports with betting normalizes gambling, leading people to think of betting as an integral part of being a sports fan.
  • Increased availability of gambling and in gambling advertising are happening at a time when many people in Canada are more vulnerable to problematic gambling and gambling-related harms because of the lingering health impacts of COVID-19 and a rise in the cost of living.

“Over the last few years, we have witnessed some of the most significant changes in gambling policy since the 1970s,” explained Dr. Matthew Young, Chief Research Officer at Greo, Senior Research Associate at the CCSA and Adjunct Professor at Carleton University. “We have seen a massive increase in gambling advertising and opportunities to gamble. We can no longer watch sports with our kids or go online without being subjected to an overwhelming amount of gambling advertising. Canada is at a critical moment in how it manages gambling. A national strategy or framework — similar to what we have for alcohol, tobacco and cannabis — is critical to manage the expected increased in gambling harm, especially among youth and other vulnerable people.”

The report recommends developing a national strategy that will:

  • Develop national standards governing the promotion and availability of gambling;
  • Manage conflicts of interest among gambling stakeholders;
  • Address inadequate funding for gambling harm prevention and reduction initiatives and research;
  • Monitor systematic changes in gambling-related harm, including any assessments of the social and economic costs of gambling; and
  • Increase awareness of gambling-related harms among health and social service professionals and the public.

“Increased gambling among people living in Canada will undoubtebly result in increased harms and therefore increased societal costs. These include healthcare costs, criminal-justice costs, child welfare costs, increased unemployment and lost productivity costs because of gambling-related suicide,” says Dr. Pam Kent, Director of Research and Emerging Trends at CCSA. “We need to think about our approach and ensure that it considers not only short-term government revenue and economic activity but also the longer-term societal costs. That’s why we need a national strategy.”

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AGCO

Edict Egaming Secures Approval for Ontario Licence

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Edict egaming has received approval from the Alcohol and Gaming Commission of Ontario (AGCO) to provide its games for the online casino market in the Canadian province. This applies to both the German edict egaming GmbH and Edict Malta Limited. From now on, the Merkur Group subsidiary will be able to offer its popular Merkur slots in one of the largest North American markets.

“We are delighted to have received AGCO approval for our Merkur games in Ontario. This is definitely a big step for edict and we are very excited to showcase ourselves to new audiences on the global stage in this dynamic market,” Dominic-Daniel Liénard, CEO of edict egaming GmbH, said.

The AGCO is working with the Government of Ontario and iGaming Ontario (iGO) to establish a new online gaming market that helps protect consumers gambling through private gaming companies. This license certifies that edict operates within the framework of strict laws and meets the requirements for responsible gaming.

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