Stephen Rigby, the most recent President and CEO of Ontario Lottery and Gaming Corporation, has extensive experience that will assist the Company’s international and Canadian growth ambitions
TORONTO, April 28, 2021 (GLOBE NEWSWIRE) — PMML Corp. (the “Company” or “Rivalry”), the parent company of Rivalry, an internationally-regulated sports betting and media property, announced today that Stephen Rigby has accepted a nomination to join its board of directors (the “Board”). Mr. Rigby’s directorship, which is slated for approval at the Company’s next shareholder meeting, represents a critical step in Rivalry’s journey to becoming a global player in regulated online sports betting and is a signal of confidence toward its business model and positioning.
Serving in one of the most senior leadership roles in the gaming industry in Canada, Mr. Rigby was most recently President and CEO of the Ontario Lottery and Gaming Corporation for five years. He was responsible for the operation and transformation of Canada’s largest provincial gaming company. Prior to that, he held the Deputy Ministerial position of National Security Advisor to the Prime Minister of Canada in charge of the provision of strategic policy and operational advice to the Prime Minister and the Cabinet. Mr. Rigby was also previously President of the Canada Border Services Agency, leading the trade and security management of all Canada’s international borders.
“I’m thrilled that Stephen Rigby has agreed to join our board of directors. He has remarkable experience leading the largest regulated gaming business in Canada and will be an invaluable member of our organization as gaming regulations continue to evolve here in Canada and around the world,” said Steven Salz, Co-Founder and CEO of Rivalry. “His decision to join Rivalry at this time marks an important inflection point in our business. Stephen brings significant strategic and operational experience that we are confident will help further execute on our vision to provide the safest and most engaging sports betting and sports media experience in the world for a new demographic coming into the fold of sports betting.”
“I’m very excited to be joining the board of such a dynamic homegrown international player in the sports betting industry. Rivalry’s integrated media and betting strategy is forward looking, and gets me inspired about the opportunity ahead not just for Rivalry, but the industry as a whole. I am thrilled to collaborate with such a motivated and hands-on team,” said Stephen Rigby.
It is expected that Mr. Rigby will be nominated for election to the Board at the Company’s next meeting of shareholders and his appointment to the Board remains subject to the approval of the Company’s shareholders and receipt of all required regulatory approvals.
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. The Company 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 65 employees and growing. The Company earned its Isle of Man license in early 2018, officially launching in August of that year, and is currently completing multiple country licenses in parallel. The Company also has a variety of originally developed products, including Quest, a gamified on-site betting experience, and shortly a suite of original casino games that offers both B2C and B2B opportunities.
Steven Salz, CEO
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Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). 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, including with respect to the election of Stephen Rigby to the Board and the Company’s expansion prospects. 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 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 information and 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 information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
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