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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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British Columbia Lottery Corporation

SCCG Management Signs Contract with British Columbia Lottery Corporation

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SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

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AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

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The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

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Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

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Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

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Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

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Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

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