Canada
Rivalry Issues 2023 Business Update
Rivalry Corp., an internationally regulated sports betting, media, and technology company, today issued a letter to shareholders summarizing recent progress and outlining strategic priorities for 2023. The full text of the letter follows. All dollar figures are quoted in Canadian dollars.
Rivalry Corp. 2023 Business Update
To our Shareholders,
Rivalry experienced a breakout year in 2022, with exceedingly strong performance across the business.The early indicators of sustainable and profitable growth that we demonstrated in October are a positive sign of what’s to come as the business continues to execute its strategic priorities. Having achieved record results every quarter, we believe the prospects for our business are as strong as ever as we kick off 2023.
In 2022 we delivered triple-digit year-over-year growth in both revenue and betting handle, with average month-over-month revenue growth accelerating to 32% through the first 10 months of the year. At the same time, we reduced bonus/promotional spend relative to revenue by over 50% year-over-year, and achieved our first-ever profitable month in October. These results were underpinned by greater product diversification that reduced the impact of seasonality. We’re proud to have finished the year strong and look forward to reporting our full Q4 results.
We have high expectations for 2023, and are confident that it will be another year of record achievements. This shareholder letter provides an update on our business, our place in the industry, and some of the things we’re excited about for Rivalry in 2023.
We are executing against a generational opportunity, and our vision remains clear:
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Become the leader in betting and entertainment globally for the next generation.
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Build the most engaged brand and portfolio of IP in esports betting (original games, content, creators, and more).
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Leverage our technology to innovate on product at every turn, creating a proprietary, interactive, and entertaining betting experience customers won’t find elsewhere.
With an ever-evolving gaming industry and a product suite still in the early stages of fulfilling our vision, we see a huge amount of market opportunity as we continue to trailblaze in this category. We are eager to continue executing on our strategy with financial discipline and scaling purposefully toward profitability.
2022 highlights
We’re proud of our 2022 accomplishments, including:
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Delivering significant growth, including year-to-date betting handle increasing 181% YoY to $186 million, and revenue increasing 130% YoY to $21.7 million in Q3 2022.2
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Continued to build upon the most engaged esports betting brand globally.
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Demonstrating our market leadership in esports betting with 90% of sportsbook handle driven by esports.
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Increasing market share ownership of Millennial and Gen Z consumers, represented by 82% of our active user base being under 30-years old, and an average customer age of 25, approximately a decade younger than legacy sportsbooks.
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Expanding our esports betting product, including the introduction of mobile game titles in March, which has already contributed a meaningful amount of betting handle and strong signs it will carry its momentum throughout 2023.
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Successful expansion into a new product category with the launch of Casino.exe, our proprietary casino interface, which drove immediate impact, contributing 30% of betting handle and 15% of revenue in Q3 2022 with minimal marketing efforts.
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Launching in two new regulated markets: the province of Ontario, Canada, and Australia.
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Best-in-class creative execution, leveraging 100+ brand partners in more than a dozen markets and 20+ owned social media channels to deepen brand awareness and engagement among our target audience, while enhancing customer acquisition and retention.
Notably, these results and signals of sustainable growth are all organic, driven by an overarching strategy that prioritizes great consumer products and brand engagement over flash-in-the-pan trends and promotional spend.
Rivalry’s growing role in betting, esports, and entertainment
Rivalry has created a truly differentiated position within the betting industry that we believe will make a meaningful impact on our financial performance as we scale the business.
The global sports betting industry eclipsed $83 billion in 2022 and is set to grow at a CAGR of 10.2%. Meanwhile, the $197 billion global video game industry is experiencing similar growth with an expected CAGR of 12.9% and expanded generational significance, seeing 87% of Gen Z playing video games weekly among a larger population of 3.1 billion gamers globally. It is at this valuable intersection where Rivalry lives.
Our approach toward attracting the next generation of consumers is different from legacy operators. We scale through word of mouth and organic market entrenchment of brand equity that allows us to operate without a dependency on excess bonusing and player subsidies. This approach helped drive a 50% reduction year-over-year in bonus/promotional spend relative to our revenue, supporting our below-market cost of customer acquisition and further reducing our reliance on linear net new spend for growth. This is continuing to create the operating leverage that has set Rivalry on a path toward profitability.
Gaming and internet culture guides this successful player acquisition strategy, and allows us to engage with a deeply valuable and nuanced demographic of users that legacy operators aren’t equipped to serve. There is tremendous value gained by participating in these communities and cultures, building lasting brand affinity among gaming fans who are quickly emerging as the consumer economy of the future, and similarly by attaching ourselves to the pervasiveness and virality of the internet.
In a world where live-service games are the standard and long-term player engagement is the new benchmark for success, Rivalry is poised to play a prominent role in the future of esports. Betting activity translates into the enhanced viewership, engagement, and economics that are directly aligned with the KPIs of esports and gaming stakeholders, and those represent significant long-term tailwinds for our business.
We believe an intimate understanding of these audiences and cultures will shape the next generation of great consumer products. It is with this understanding that Rivalry is able to tap into a global gaming audience and drive betting activity among the 532 million esports viewers worldwide.
We will continue making strategic and measured investments in key areas of the business that we believe set the stage for further growth in 2023, and beyond, with objectives that should ensure our current momentum toward profitability remains intact. Some of the initiatives we expect to drive continued growth in 2023 include:
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Expanding our esports offering with new titles and markets to deepen our core product and attract new customers.
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Continued evolution of our proprietary Casino.exe platform and release of additional in-house developed and third-party games that cater to our core demographic and further establish a gaming experience unique to Rivalry.
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Launch of a mobile app in our regulated markets to increase accessibility of our product.
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Geographic expansion to increase our addressable market and customer base.
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Expanded content and creator partner program to deepen our ability to reach and engage customers, solidifying Rivalry’s leadership position in the esports betting industry.
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Continuing to grow our investor base through proactive capital markets outreach.
These initiatives are designed to advance us toward consistent profitability, through measurable outcomes including:
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Increased product depth and diversity creates greater margin stability and reduces seasonality while increasing average customer spend.
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Increased TAM through new market launches builds greater intrinsic value capture for Rivalry, and thus upside for our investor base.
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Enhanced brand engagement cultivates a dedicated customer base, which organically improves retention and lowers cost of customer acquisition.
I’m extremely proud of the differentiated approach Rivalry has taken from day one and what it has enabled us to achieve, creating a truly distinct product and brand that is driving operating leverage and bearing fruit across the business. As we move into 2023, we’re eager to continue demonstrating the same operational excellence which has enabled us to stand out in a deeply competitive industry.
With that, I wish everyone a happy, successful, and healthy year.
Steven Salz
Co-Founder & CEO
Rivalry Corp.
After A Review Of Canada’s Gambling Landscape, RoboCat Casino Was Awarded The “Best Online Casino In Canada 2025” Based On 8,000+ Games, Responsible Gambling and Fast Payouts
Vancouver, May 02, 2025 (GLOBE NEWSWIRE) —
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Disclaimer & Affiliate Disclosure
The information presented in this article is for general informational and promotional purposes only and is not intended to be, nor should it be construed as, legal, financial, or professional advice. While every effort has been made to ensure the accuracy and reliability of the content at the time of publication, no warranties or representations are made as to its completeness, timeliness, or accuracy. Readers are advised to independently verify any information before acting upon it. Neither the publisher nor any affiliates, syndication partners, or contributors shall be held liable for any errors, omissions, or inaccuracies in the content, nor for any losses, damages, or adverse consequences arising from reliance on this material.
This content may contain affiliate links. If readers choose to click on these links and make a purchase or deposit, a commission may be earned at no additional cost to them. Such affiliate relationships do not influence the editorial integrity of the content, and all opinions and evaluations are based on independent research and professional judgment.
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All brand names, trademarks, and registered trademarks are the property of their respective owners. This content is not endorsed, sponsored, or directly affiliated with any of the brands mentioned unless explicitly stated.
By reading or syndicating this article, all parties acknowledge and accept that they do so at their own risk and agree to hold the publisher, affiliates, and syndication partners harmless from any liability, claims, or legal actions arising directly or indirectly from the use or dissemination of the information contained herein.
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Stats Perform, the global leader in sports AI, data and technology, has announced an official data partnership with the Northern Super League (NSL). The partnership will allow world-leading Opta data to be collected live from every NSL league game for the next three years.
Beginning this month, the Northern Super League (NSL) establishes a new era in Canadian sport as the country’s first professional domestic women’s soccer league — an ambitious and transformative initiative co-founded by former Canadian international and Olympic medallist Diana Matheson. Its inaugural season kicks off on April 16 and will feature six teams who have assembled multinational player rosters with extensive club and international experience, including 100-cap Canadian internationals Desiree Scott and Quinn.
Once the action begins, detailed data from every on-ball event, including advanced AI-powered Opta Analytics metrics such as Expected Goals (xG) and Expected Assists (xA), will be captured and distributed via feeds and Stats Perform products, including OptaAI Studio. This will enable various broadcasters, publishers and rights holders to generate stories and insights throughout the NSL season and provide them straight to the league’s fans in real time.
As part of the agreement, the NSL’s League Office and every NSL club will also have access to Opta Search, part of OptaAI Studio. This will allow their content creators to leverage all Opta data collected during the NSL season in the creation of data-led stories on the stand-out performers, and will help them generate key talking points for publication on official league and club platforms. Opta Search will also empower the NSL’s media team to create a range of data visualizations, including player shot maps and touch maps, to visually illustrate the impact of different players’ on-field performances.
Christina Litz, NSL President, said: “We are thrilled to have Stats Perform on board as our official data partner. When we talk about detailed performance data in soccer, Opta is the gold standard, so we are delighted to have it powering each of our official digital channels. As the season progresses, we want to put the spotlight on all the on-field heroes who emerge and having access to world-class data will help us tell their stories and inspire a new generation of Canadian soccer fans.”
Steve Xeller, Chief Revenue Officer at Stats Perform, said: “Stats Perform has been a huge supporter of expansion leagues around the world, so we are very pleased to be partnering with NSL in the lead-up to their first domestic campaign. Seeing a fully professional women’s soccer league launch in Canada is an incredibly exciting development for the sport in North America and we see considerable potential in working proactively with the League’s Head Office to help the competition grow, using the power of AI and data-led storytelling to build fan communities across the continent.”
The post Northern Super League Partners with Stats Perform appeared first on Gaming and Gambling Industry in the Americas.
Africa
INCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER
Leading B2B games provider, Incentive Games, today announced its new agreement with premium gaming company and content provider Light & Wonder, Inc.
Through this agreement, Incentive Games will distribute its premium pay-to-play games – including new arcade-style titles – to key global regulated markets including the USA, Canada, South Africa, UK, and within Europe via Light & Wonder’s extensive operator network. Additionally, Incentive Games’ popular free-to-play content will be made available to a wider audience through Light & Wonder’s content marketplace.
The agreement brings together two industry leaders in iGaming and the strengths of both companies to deliver exceptional player experiences and elevate customer engagement.
Ahmed Baker, Chief Commercial Officer at Incentive Games said, “This agreement is a landmark moment in our company’s history. Previously, we’ve worked directly with major operators such as bet365, FanDuel, and Sky Bet. Now, we can distribute our games via Light & Wonder, an exceptional aggregator that we trust will handle our games with care.”
Steve Mayes, Senior Director of Partners at Light & Wonder, said: “We are excited to work with Incentive Games, a leader in gamification solutions. We look forward to leveraging their innovative platform and bringing their customisable crash and fast game content to all major regulated markets.”
The post INCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER appeared first on European Gaming Industry News.
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INCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER
