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Rivalry Reports 192% Growth in Handle and 60% Growth in Revenue for Q2 2023, Projects Profitability in H1 2024

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports betting and media company, today announced its financial results for the three- and six-month periods ended June 30, 2023. Rivalry has also provided revenue guidance that the Company anticipates reaching profitability in the first half of next year. All dollar figures are quoted in Canadian dollars.

“In Q2 we delivered a nearly three-fold increase in handle year-over-year,” said Steven Salz, Co-Founder and CEO of Rivalry. “Increased marketing sophistication and enhancements to our core product have led to operational improvements, increased player wallet share, and a material year-over-year reduction in cost of customer acquisition, positioning us well in the coming quarters. The growing strength in these underlying fundamentals continues to validate Rivalry’s global brand leadership in esports betting, and more broadly, in delivering a world class online gambling experience for the next generation of fans.”

“Our position among young Millennial and Gen Z customers represents one of our greatest competitive advantages, but has also presented unique learnings regarding betting behaviors. Generally we experience higher margin volatility within the sportsbook among this demographic, which impacted revenue this quarter,” Salz added. “That said, challenges like this come with our position at the bleeding edge of a demographic shift in online gambling, and it has also allowed Rivalry to learn more than other operators about what is needed to succeed among this coveted cohort. In the immediate term we have been tuning our operational initiatives to address normalizing margin and seeing early results. And to contextualize the upside potential of this work, at consistent industry average margins Rivalry would have been profitable in Q1 and Q2 this year against the betting handle we generated. With these ongoing adjustments being made based on our learnings, alongside the general benefits scaling handle through growth provides to margin, we expect to reduce volatility, positively impacting bottom-line results, and propelling us to profitability in the first half of next year.”

Second Quarter 2023 Highlights

  • Betting handle for the three-month period ended June 30, 2023 was $112.2 million, an increase of $73.8 million or 192% from $38.4 million in Q2 2022, while reducing marketing spend 6% year-over-year.
  • Casino has helped offset historical esports seasonality slowdown in Q2, contributing toward revenue diversity and growth, adding $57.5 million in handle during the second quarter.
  • Revenue was $8.5 million in Q2 2023, a record result for a second quarter, representing an increase of $3.2 million or 60% from $5.3 million of revenue in Q2 2022.
  • Gross profit was $3.8 million in Q2 2023, an increase of $1.8 million or 86% from $2.1 million of gross profit in Q2 2022.
  • Net loss was $6.3 million for Q2 2023, a 1% increase from the net loss of $6.2 million in Q2 2022. A select number of low probability esports and sports outcomes, alongside unique behavioral betting habits from Gen Z users, caused increased margin volatility and negatively impacted revenue, which combined with several one-time expenses expanded the Company’s net loss.
  • Adjusting for non-recurring items in the Company’s operational expenses over the last four quarters, Rivalry is pleased to note that its operational expenses have remained nearly flat, while simultaneously delivering triple digit year-over-year growth in betting handle every quarter. It is this clear operating leverage trend, combined with concerted efforts to increasingly stabilize margin at scale, that has led the Company to provide its H1/24 profitability guidance.
  • The Company has continued to broaden its product offering in recent months, including the launch of its mobile app in Ontario and more recently, an industry-first same-game parlay product for esports, structural sportsbook hold rate and customer experience improvements.
  • The Company had $14.0 million of cash and no debt as at June 30, 2023.²

Guidance

  • The Company is providing guidance as it projects to reach profitability in the first half of 2024. This projection is based on several factors, including an expectation of consistent year-over-year revenue growth, slower increases in costs due to operating leverage and disciplined management of expenses, and ongoing product innovation that strengthens the Rivalry brand and leads to increased betting activity and lower cost of customer acquisition.

“We are keen to share a number of additional product releases coming in Q3, beginning with Same Game Combos, our own proprietary version of same-game parlays for esports, which we released just last week,” Salz added. “This feature, and others arriving in the third quarter, strengthens our position at the edge of technical and product innovation, and more broadly, our ability to continue delivering a market-leading betting experience catered to young Millennial and Gen Z consumers. We have barely scratched the surface of the feature set on our deep product roadmap, which we are confident will enable us to win this global generational opportunity in betting.”

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BETesporte Reinforces Commitment to Sports with Major Investments Across Brazil

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Investment in championships, clubs, and national teams expands media assets and positions BETesporte as a key player in Brazil’s sports market.

BETesporte, a betting platform that proudly carries “sports” in its name, is reaffirming its leadership in the industry by reporting consistent investment results over the past four months. While most betting platforms generate the majority of their revenue from online games (virtual casinos), BETesporte stands out as one of the few where sports betting leads the way — accounting for 65% of its total revenue, compared to 35% from online games. This figure directly reflects its brand strategy and commitment to strengthening Brazilian sports.

Over the last four months, we’ve consolidated our presence on multiple fronts, focusing on strategic returns and high-quality visibility. We’ve sponsored several state championships in all regions of the country, including the Paulista, Paranaense, Carioca, Alagoano, Gaúcho, Pernambucano, Cearense, Catarinense, Baiano, and Mineiro tournaments, as well as the highly engaging Copa do Nordeste. We’ve also invested in Series A and B of the Brasileirão, placing our brand on Brazil’s biggest football stages and ensuring mass exposure with a high value per impression. It’s a strategic allocation of resources designed to generate brand impact and strengthen the Brazilian sports ecosystem,” said Thiago Carvalho, CFO at BETesporte.

Among the platform’s most notable recent acquisitions is brand exposure during Brazil’s national team matches in the World Cup Qualifiers — a move that reinforces BETesporte’s presence on the global football stage and strengthens its connection with fans during highly visible moments.

We truly believe in the power of sports as a driver of connection and engagement. At BETesporte, we’re constantly investing in improving our platform with new features and more real-time betting options. Our marketing plan is performance-oriented: we aim to energize Brazil’s sports scene through active sponsorships in Series A and B of the national league — with master sponsorships, LED field displays, and direct club support. We bet on sports both as a passion and a business,” added Danylo Campos, CTO of BETesporte.

Beyond football, BETesporte is expanding its social impact by supporting up-and-coming athletes, providing financial assistance to help them compete and grow in sports like kickboxing, table tennis, and jiu-jitsu — an initiative that helps uncover new talent and democratize access to high-performance sports.

The company also maintains partnerships with traditional clubs like CRB, CSA, and Volta Redonda, reinforcing its regional presence and boosting local fanbases with strong community ties.

BETesporte’s credibility is further strengthened by the presence of legendary Brazilian football figures as brand ambassadors, including Zico, Vampeta, Diego Souza, and Macaé — personalities who bring even more legitimacy to the company’s presence in the sports world.

The post BETesporte Reinforces Commitment to Sports with Major Investments Across Brazil appeared first on Gaming and Gambling Industry in the Americas.

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California Gambling Control Commission

California Gambling Control Commission Advances Licensing, Tribal Partnerships, and Responsible Gaming Initiatives

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Sacramento, CA — In a meeting packed with regulatory updates and licensing decisions, the California Gambling Control Commission (CGCC) convened on April 24 to advance numerous agenda items impacting the state’s gambling landscape—from tribal gaming approvals to responsible gambling programs and operator renewals.

Problem Gambling & Public Health Takes the Stage

The Commission meeting opened with a presentation by Sosha Marasigan-Quintero from the California Department of Public Health, offering an overview and update on the California Problem Gambling Treatment Services Program. While no specific staff recommendations were provided, the update underscores California’s continued focus on behavioral health in gambling.

Tribal Revenue Distribution Approved

The Commission approved the quarterly distribution of payments from the Revenue Sharing Trust Fund to eligible recipient Indian Tribes. This routine, yet vital, procedure ensures the equitable distribution of revenue to support tribal sovereignty and infrastructure across the state.

Cardroom Licensing: Approvals and Extensions

Among key licensing matters:

  • 500 Club Casino (K & M Casinos, Inc.) received both initial and renewal owner-type license approvals through January 2027.

  • Casino Chico, Hollywood Park Casino, and Lake Bowl Cardroom were granted renewals and short-term extensions, some with conditions such as improving record-keeping systems or ensuring regulatory compliance ahead of reopening.

  • Hotel Del Rio & Casino was granted a 60-day extension under several strict conditions, including updated safety plans and the restatement of commingled financial records.

Key Employee Licensing Actions

The Commission approved several initial and renewal key employee licenses. Notably:

  • Jeffrey Thompson was approved with a condition prohibiting involvement in illegal gambling activities.

  • Kevin Lee and George Rahme received 120-day extensions for renewal processing.

Third-Party Proposition Player Services Under Scrutiny

The Commission approved both initial and temporary licenses for Fortune Players Group, Inc., with a lengthy list of conditions tied to the conduct of a former associate, Rene Medina. These conditions highlight the Commission’s ongoing vigilance in monitoring third-party player services and maintaining compliance across operations.

Progressive Gaming, LLC was also approved for an initial license, further expanding third-party service provider capacity.

Gaming Resource Suppliers & Tribal Approvals

Initial suitability findings for several prominent tribal gaming resource suppliers were approved, including:

  • HCAL, LLC

  • JCM Global

  • Konami Gaming, Inc.

  • PDS Gaming, LLC

Dozens of tribal gaming employees were also approved for key positions at tribal casinos across California, reflecting the Commission’s continued support of tribal gaming operations and the necessary workforce to support it.

Notable Withdrawals and Denials

In two notable cases, requests to withdraw license applications—Josephine Hoang and Jesus Bojorquez—were denied, signaling the Commission’s increased scrutiny and emphasis on applicant accountability.


A Broader Look Ahead

With regulatory reform on the horizon and ongoing efforts to promote responsible gaming, the April 2025 CGCC meeting showcased a mix of routine license management and deeper engagement with emerging compliance issues. As the Commission prepares for the next quarter, the groundwork laid in this session will likely influence policy developments and enforcement trends across California’s gambling sector.

The post California Gambling Control Commission Advances Licensing, Tribal Partnerships, and Responsible Gaming Initiatives appeared first on Gaming and Gambling Industry in the Americas.

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Trends in affiliate marketing in 2025 from Boomerang Partners: AI, Personalized Engagement, Crypto, Betting, and Tournaments

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Affiliate marketing in 2025 has evolved far beyond just boosting traffic or generating clicks — it’s now all about building value-rich ecosystems and partnerships where each user interaction is fine-tuned for maximum relevance and effectiveness.

Boomerang Partners, a rapidly growing global brand behind the annual Golden Boomerang Awards for affiliate teams around the world, shares insights about the key trends of 2025 in the affiliate marketing industry. These trends are driven by advancements in AI, blockchain, and personalization technologies.

AI-powered optimization

Advanced AI tools empower affiliates to launch highly personalized campaigns on a large scale. By analyzing user behavior in real time, these tools help marketers anticipate user intent and deliver customized content that speaks directly to distinct audience needs.

With AI-powered tools, affiliate managers can plan, execute, and evaluate campaigns with minimal human intervention. This saves time when adjusting strategies and making data-driven decisions.

Personalized engagement

Using data on user behavior and preferences, affiliate managers tailor content, advertising campaigns, and product recommendations. This leads to increased engagement and conversions.

AI-powered personalization relies heavily on real-time insights into user behavior. Key elements include maintaining contextual relevance, steering clear of excessive segmentation, and optimizing content dynamically. Instead of relying on fixed strategies, marketers now continuously refine campaigns using live data. To maximize impact, marketers should combine AI solutions with A/B testing processes, forming a feedback loop that enhances content effectiveness with each iteration.

Crypto betting boom

In 2025, integrating cryptocurrencies into iGaming affiliate marketing will become increasingly prominent. This trend is fueled by industry growth and the increasing adoption of blockchain technology. Using cryptocurrencies such as Bitcoin and Ethereum increases the security of transactions and provides exposure to an international audience. Cryptocurrencies also open up new revenue streams and foster innovation in the field.

Affiliates integrating cryptocurrency into their platforms have seen advantages like quicker payment processing, reduced transaction costs, and enhanced security. Built on decentralized technology, crypto promotes greater transparency, helping to foster trust compared to conventional centralized financial systems.

Affiliate tournaments

Industry tournaments boost brand visibility and help build strong affiliate communities. Affiliate tournaments have become a trend in the industry. They are mainly organized by affiliate programs and feature valuable prizes — from iPhones and MacBooks to luxury cars and cash rewards. Boomerang Partners took it a step further by launching the annual Global Boomerang Partners Awards.

This year, Boomerang Partners is hosting its second annual tournament for affiliates worldwide, the Golden Boomerang Awards 2025it runs through May 11. More than 400 teams are participating.  Monthly prizes are given out for completing intermediate tasks. The top 30 contestants will reach the finals and compete for 11 awards, including the Grand Prix. They will also be able to attend the global networking event in Milan at San Siro. Registration for the tournament is open until May 5. There’s still time to register before the final prize drawing on May 3. The organizer will ensure the fulfillment of dreams. The winner will choose how to use the prize – for travel, education, or a top device.

Join Boomerang Partners and the Golden Boomerang Awards 2025.

About Boomerang

Boomerang Partners is a rapidly growing global brand offering a wide range of services. Boomerang is the Official Regional Betting Partner of AC Milan and collaborates with women’s football star and influencer Alisha Lehmann. In 2024, it launched the inaugural Golden Boomerang Awards 2024, the first annual global affiliate tournament. Boomerang Partners’ betting segment surged 5x, and gambling — 2x in 2024. Its affiliate program demonstrated a 120% increase in partners, and the number of sports betting offers surged more than 6 times. Six new products were launched by Boomerang in 2024, which contributed to an almost 1.5-fold increase in product users.

Boomerang’s portfolio contains 15+ gambling brands, including sportsbooks. They cover over 35 GEOs and offer a wide range of betting options with favorable odds. These products provide personalized bonuses and 24/7 multilingual support.

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