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RIVALRY CORP (RVLCF) is a leading company in the online gambling industry, known for its innovative approach to betting and gaming. The company has achieved record Q3 results with reduced marketing spend and flattened operating expenses, demonstrating strong customer KPIs. With a recent $14M capital infusion, RIVALRY is poised for accelerated growth. The company's focus on product diversification in FY23 has expanded its market reach and solidified its position as a Gen Z market leader. By adopting Web3 technology, RIVALRY aims to capture the high-value crypto gambling market share and enhance its product-market fit among digitally native users.
Rivalry Corp (TSXV: RVLY) (OTCQX: RVLCF) has completed the third tranche of its non-brokered private placement, raising $334,688 through the issuance of 2,231,253 Units at $0.15 per Unit. Each Unit consists of one subordinate voting share and half a warrant, with each whole warrant exercisable at $0.25 for 12 months.
The company may conduct additional closings to reach aggregate proceeds of up to USD$3 million. The proceeds will be used for corporate development and working capital. The securities are subject to a four-month hold period. The company paid $10,501.20 in finder's fees for this tranche.
Notable related party transactions included 100,200 Units issued to family members of director Steven Isenberg and 500,000 Units to director Kevin Wimer.
Rivalry Corp (RVLCF) reported Q3 2024 results with betting handle of $79.9M and adjusted revenue of $6.0M, including $3.0M in deferred revenue from Rivalry Token (NUTZ). The company completed a major organizational realignment, reducing operating expenses by approximately 50% and headcount by 50%. Average net revenue per user increased by 51% compared to 2024 YTD average and 70% versus three-year trailing average.
The company executed its largest product overhaul, implementing a crypto-first strategy. Crypto wallet-connected customers generate 200% more revenue than baseline users, with 30% higher retention rates. Rivalry closed a second tranche of non-brokered private placement for $1.0M, bringing total proceeds to $3.0M.
Rivalry Corp (TSXV: RVLY) (OTCQX: RVLCF) has completed the initial tranche of a non-brokered private placement, raising approximately $1.94 million through the issuance of 12,930,707 units at $0.15 per unit. Each unit includes one subordinate voting share and half a warrant, with each full warrant exercisable at $0.25 for 12 months. The company may raise up to USD$3 million through additional closings. The initial tranche was primarily subscribed by insiders, family, friends, and long-term shareholders. Proceeds will be used for corporate development and working capital. The securities are subject to a four-month hold period.
Rivalry Corp. (TSXV: RVLY) (OTCQX: RVLCF), a leading sportsbook and iGaming operator focused on Gen Z, has announced the upcoming release of its Q3 2024 financial results. The results will be published on November 29, 2024, before trading begins on the TSX Venture Exchange. Management will host an investor conference call at 10:00 am EDT on the same day to discuss the results. The call will be accessible via toll-free number 1-800-717-1738 or international number (+1) 289-514-5100, with a live webcast available through the company's website.
Rivalry Corp. (TSXV: RVLY) (OTCQX: RVLCF) reported Q2 2024 results, highlighting $87.8 million in betting handle and $4.7 million in net revenue, up 22% year-over-year. The company achieved a record net revenue margin of 62.5%, demonstrating successful margin growth efforts. Rivalry Token, launched in May 2024, has driven $1.7 million in additional revenue post-quarter, accelerating crypto expansion efforts. The token is attracting high-value players, with token customers exhibiting twice the value of average non-crypto users. Rivalry is shifting focus to crypto expansion and VIP players, aiming to drive growth while maintaining current operational expense levels. The company maintains its H2 2024 profitability guidance.
Rivalry Corp. (TSXV: RVLY) (OTCQX: RVLCF), a leading sportsbook and iGaming operator for Gen Z, has announced it will release its Q2 2024 financial results on August 29, 2024, before market open. The company will host an investor conference call at 10:00 am EDT on the same day to discuss the results.
Additionally, Rivalry has announced a management change. Demi Abidogun-Benson will assume the role of Interim Chief Financial Officer effective August 16, 2024, replacing Kejda Qorri. Abidogun-Benson, who joined Rivalry in February 2022, brings over a decade of experience in corporate reporting, auditing, and strategic planning.
Rivalry Corp, a leading sportsbook and iGaming operator focused on Gen Z, announced that its Co-founder and CEO, Steven Salz, will present at the Canadian Gaming Summit in Toronto on June 20, 2024. Salz is scheduled to participate in a panel discussion at 11:45 am, titled “Next-Gen gamification: engaging Millennials and Gen Z.” This panel will delve into gamification strategies aimed at capturing the next generation of bettors through methods such as social gaming, loyalty programs, and interactive storytelling. The Canadian Gaming Summit is a key annual event for gaming and sports betting executives, expected to draw 2,000 delegates from various industries including casino, sports betting, payments, technology, and investment.
Rivalry Corp. (RVLCF), a leading sportsbook and iGaming operator for Gen Z, announced that its Co-founder and CEO, Steven Salz, will participate in the Maxim Group Virtual TMT Conference on June 5, 2024. Salz will engage in a live fireside chat with Maxim senior research analyst Jack Vander Aarde at 11:00 am. The discussion will highlight Rivalry’s expansion into the cryptocurrency sector, particularly focusing on its recently unveiled blockchain-based Rivalry Token. This token aims to enhance functionality, economics, and user experiences across Rivalry’s products. The session will be webcast live on M-Vest, requiring participants to sign up for M-Vest membership. The event is part of a two-day conference titled 'Charting the Course: Navigating the Intersection of TMT and Business in the AI Era,' focusing on how companies use AI and other technologies for future growth.
Rivalry Corp. (RVLCF) has reported its Q1 2024 financial results, showcasing several growth metrics. Betting handle increased to $94.7 million, up 11% from Q4 2023. Gross gaming revenue rose by 20% to $7.7 million, while net revenue surged 51% to $4.5 million. The company achieved a record net revenue margin of 58.5%. Rivalry also announced its expansion into the crypto gambling market with the Rivalry Token, aimed at capturing Gen Z and digitally native users. The company intends to launch this utility token in H2 2024, enhancing user engagement and loyalty through blockchain technology. They reported a net loss of $5.2 million, which is the smallest in the last four quarters. Cash reserves stand at $9.4 million as of March 31, 2024.
Rivalry Corp., a leading sportsbook and iGaming operator for Gen Z, is set to release its first quarter 2024 financial results on May 30, 2024. The results will be available before TSXV trading begins. Management will host an investor conference call on the same day at 10:00 am EDT to discuss the results. Interested parties can dial in via toll-free or international lines, or access the live webcast through the company's website. An archived replay of the webcast will be available for one year.
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