Latest News
Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
2023 Annual Letter to Shareholders
To our Shareholders,
This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.
Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.
In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2 and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.
Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.
The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.
While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.
Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.
Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.
The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.
Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.
Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5 organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.
It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.
Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.
To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.
The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.
We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.
Latest News
ELA Games Signs Exciting Partnership with Rootz to Introduce Its Portfolio to New Audiences
Ela Games signs strategic partnership with Rootz
ELA Games is excited to announce its new strategic partnership with Rootz, an iGaming platform that focuses on exciting tech and automation.
Rootz is an all-encompassing iGaming solution built to help operators manage all aspects of their online casinos and power the brands of the future. Some innovative brands in the Rootz portfolio include Wildz, Chipz Casino and many more.
This strategic partnership will see ELA Games’ catalogue being hosted on many of Rootz’s brands. As a result, more players can experience ELA Games’ unique and innovative games like Cash Crab, Joker Cashpot and more. With many of the studio’s games implementing engaging gamification engines, Rootz’s brands can experience increased player acquisition, retention and engagement.
David Fall, ELA Games’ Business Development Manager and spokesperson, commented on the partnership, “We’re proud to announce this significant strategic partnership and are excited about the positive implications it will have on our growth. ELA Games will increase its market presence by being hosted on Rootz’s various platforms, and Rootz will experience increased player engagement from our innovative games. This partnership will prove to be a mutually beneficial one and a meaningful development for our studio.”
Sam Brown, Rootz’s CEO, added, “At Rootz, our players come first, so we’re always thrilled to augment our lobbies with top-quality casino content, like the titles in ELA Games’ catalogue. We’re sure our players will enjoy them, and we look forward to this mutually beneficial collaboration.”
ELA Games continues to experience expansive yet sustainable growth, as evidenced by this recent significant partnership. The studio continues its commitment to producing games with attractive UI and design that enhances the player experience.
The post ELA Games Signs Exciting Partnership with Rootz to Introduce Its Portfolio to New Audiences appeared first on European Gaming Industry News.
Compliance Updates
Wyoming’s First Mile-Long Racetrack Set to Launch in the Mountain West
The Wyoming Gaming Commission has approved Wyoming’s first mile-long horse racing track for 16 live race dates in 2025, as well as simulcasting and related activities. While the first racing season at Thunder Plains Park will feature temporary structures, the essential components, including barns, racing officials’ tower, video patrol towers, and spectator areas, will be in place.
The track, located 10 miles east of Cheyenne at Thunder Plains Park, will host its inaugural race day on Friday, August 1, 2025, with additional race days to follow on August 2, 3, 8-10, 15-17, 22-24, 29-31 and September 1. Dates are subject to change per the Wyoming Gaming Commission.
With its convenient location along I-80, the track is set to draw racing fans from neighboring states in the mountain west region, as well as local fans from Cheyenne and surrounding areas.
“As a fifth-generation Wyomingite, being able to bring this track to our state carries a lot of meaning,” said Ryan Clement, managing partner at Thunder Plains. “Thunder Plains sees an incredible opportunity to create a positive impact not only on the Wyoming horse racing industry but also the area’s economy, in terms of new job opportunities and tourism revenue.”
Through partnerships with elite industry veterans and horsemen, Thunder Plains looks forward to bringing high-quality, high-caliber racing to Laramie County.
“We’ve established a strong partnership with 1/ST, North America’s preeminent Thoroughbred racing, entertainment and pari-mutuel wagering company,” said Clement. “They’ve set the standard for horse safety across the nation, and we’re looking forward to bringing that strong emphasis on safety and track protocols to Wyoming.”
Of the partnership with Thunder Plains, 1/ST TECHNOLOGY’s Senior Vice President Jeff True said he sees exciting opportunities ahead.
“1/ST has a long history of operating premier racetracks and premier racing events across the country. We are thrilled to be entering the Wyoming horse racing market together with our local Wyoming partners, and we look forward to lending our expertise to help grow Wyoming horse racing.”
For all simulcasting operations, 1/ST will leverage the expertise of its affiliates at Monarch Content Management, AmTote International, and PariMAX.
“Our racetrack will be operated with numerous horse safety and welfare protocols in place,” Clement said. “The track itself, being a mile long and eighty feet wide, dramatically improves horse and rider safety. Throughout track design and construction, we collaborated with Dennis Moore, a renowned track surface specialist, to ensure the safest, most high-quality racing surface.”
Moore’s professional history includes designing and building world-class racetracks across the county, as well as consulting on track safety projects at racetracks across the country and around the world. Moore’s projects have included the racing surfaces at Santa Anita Park, Del Mar, Lone Star Park, Remington Park and in Dubai, among others.
Future plans at Thunder Plains Park include building a regional equestrian center and establishing a high-altitude horse training and breeding program.
Latest News
CryptoWins Celebrates One-Year Milestone with Birthday Month Bonuses and New Slot Launch: Wild Alaska
This month marks the one-year anniversary of CryptoWins, a cutting-edge cryptocurrency-only casino that has quickly made an impact in the gaming world since its debut.
To celebrate, CryptoWins is rolling out a month of birthday bonuses and gifts for both new and returning players. Earlier this month, players already enjoyed an 80% VIP Match bonus, and the celebration continues with even more rewards, including a 66% match bonus for players who’ve made at least one deposit during the month, as well as a $20 freebie!
To kick off its birthday month, CryptoWins.com has introduced its latest video slot, Wild Alaska, created by Slotland Entertainment. This high-energy 5×3 slot game is packed with adventure and features a max multiplier of 750x, a $20 max bet, and 20 paylines. A standout feature is the Free Spins round, where all winnings are tripled, and Grizzly Wilds become Extended Wilds, giving players even more opportunities for massive payouts.
“This milestone wouldn’t be possible without the support of our incredible players. To show our gratitude, we’ve released a month of exclusive bonuses and a cool new game,” said Michael Hilary, CryptoWins manager. “We’ve built CryptoWins around the values of transparency, fairness, and player freedom. Our provably fair gaming technology ensures every player can verify game results for complete peace of mind, while our no withdrawal limits policy allows players to enjoy our platform to the fullest.”
In keeping with its commitment to providing regular rewards, CryptoWins has continued to deliver ongoing promotions throughout the year, including reload bonuses and cashback offers. The casino also boasts a dedicated VIP loyalty program, designed to reward consistent play with exclusive perks.
NOVEMBER BIRTHDAY GIFT BONUSES:
1/ THANKSGIVING $20 FREEBIE
Available Nov 26 – Dec 1
* $20 free
* Max cashout: 3x
* Valid for: SE all games
* Wager: 37x
* BONUS CODE: BIGTHANKS
2/ 66% LOYAL MATCH
Available Nov 26 – Dec 1
* 66% for players who deposited at least once in November
* Redeem: 1x per day
* Valid for: SE all games
* Wager: 35x
* BONUS CODE: LOYAL66
The future is bright for this forward-thinking cryptocurrency online casino, and players can look forward to even more developments in the months ahead.
CryptoWins, a cryptocurrency casino operated by Slotland Entertainment offers 500+ games from Slotland Entertainment S.A. and eight other game providers: ELA Games, EvoPlay, Felix Gaming, KA Gaming, Rival Gaming, SmartSoft, Spinthon, and Vibra Gaming. Fast deposits and withdrawals are done using Bitcoin, Litecoin, Ether, Monero, Tether, Binance Coin, and USD Coin. Support is available around the clock via live chat and email.
The post CryptoWins Celebrates One-Year Milestone with Birthday Month Bonuses and New Slot Launch: Wild Alaska appeared first on European Gaming Industry News.
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