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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. reported significant financial growth for Q3 2022, with a record betting handle of $70.3 million, a 203% year-over-year increase. Revenue reached $7.1 million, growing 93% year-over-year and marking the highest revenue in any quarter. In October, the company achieved its first profitable month, with a betting handle of $37.2 million and revenue of $4.5 million, reflecting a 501% year-over-year increase. With a strong cash position of $23 million and no debt, Rivalry aims for continued growth in esports and casino offerings.
Rivalry Corp. (RVLCF) is set to release its third quarter 2022 financial results on November 29, 2022, before market opening. Management plans an investor conference call at 10:00 am EST the same day to discuss the results. In addition, the Company will amend the exercise price of 1,737,283 incentive stock options from a range of $1.35 to $3.31 to $0.81 per share, aiming to support employee retention. The amendments require shareholder and regulatory approval.
Rivalry Corp. (TSXV: RVLY, OTCQX: RVLCF) announced its upcoming release of third quarter 2022 financial results, scheduled for November 29, 2022, before the TSXV market opens. The company will hold an investor conference call at 10:00 AM EST the same day to discuss the results. Rivalry, based in Toronto, is a regulated sports betting and media company operating globally in over 20 countries. It offers online wagering on esports, sports, and casino games, with an Isle of Man license since 2018.
Rivalry Corp. (RVLCF) has launched Casino.exe, its proprietary interactive casino platform, expanding its offerings with four new games: Penalty Shootout, Bomb Squad, Wheel of Time, and Courier Sweeper. This initiative aims to cater to a younger audience and reduce seasonality in esports. The successful debut of Aviator, contributing over 10% of Q3 revenue, positions Rivalry favorably for future growth. Upcoming expansions include launching in new markets and developing additional in-house casino games.
Rivalry Corp. (RVLCF) announced that Billy Levy, Executive Vice President of Corporate Development, will speak at the SBC Summit Latinoamérica on November 3, 2022, in Hollywood, Florida. The panel discussion, titled “Understanding Esports in LATAM,” will feature various executives from the esports and gambling industries. With an estimated 70 million esports fans in Latin America, Rivalry aims to strengthen its presence in this growing market. The conference gathers leaders from the betting and gaming sectors across Latin America to discuss best practices and technological advancements.
Rivalry Corp. has partnered with Low6 to launch a new free-to-play Pick’em game for the League of Legends World Championship and The International 11, offering over $25,000 USD in cash prizes. The game, which started on October 20, aims to engage both existing and new users with over 5,000 new registrants already participating. This collaboration marks Low6's entry into the esports sector, enhancing Rivalry's platform to attract a broader audience in regulated markets.
Rivalry Corp reported record preliminary betting handle of $70.3 million and revenue of $7.1 million for Q3 2022, marking increases of 203% and 93% year-over-year, respectively. The company continues to engage a younger audience, with 82% of active users under 30 years old. This performance reflects Rivalry's strong position in the esports betting market. Management will discuss growth strategies and future opportunities at the inaugural Virtual Investor Day.
Rivalry Corp. (TSXV: RVLY; OTCQX: RVLCF) has achieved RG Check Accreditation from the Responsible Gambling Council, marking a significant commitment to responsible gambling. This accreditation, a requirement for iGaming operators in Ontario, recognizes Rivalry's proactive measures to ensure a safe gaming environment for customers. CEO Steven Salz emphasized that this accreditation distinguishes Rivalry in the competitive market by fostering trust and transparency. The company is dedicated to educating players about gambling risks and intends to leverage this accreditation as part of its growth strategy.
Rivalry Corp. (TSXV: RVLY, OTCQX: RVLCF) has updated the timing for its inaugural Virtual Investor Day to October 12, 2022, at 10:00 am EDT. The event will feature leadership presentations on the company's growth, strategies, and planned initiatives for future expansion. Participants can register for the live webcast or dial in for a Q&A session. Rivalry operates a fully regulated online sports betting platform with licenses in various jurisdictions, including the Isle of Man, Australia, and Ontario.
Rivalry Corp. (RVLCF) has announced a Virtual Investor Day scheduled for October 6, 2022, at 10:00 am EDT, marking one year since its public listing. The event aims to provide insights into the company's growth over the past year, key strategies, and future initiatives. The session will last approximately 1.5 to 2 hours and will feature presentations from the leadership team. Participants can register for the listen-only webcast on Rivalry's website, and a replay will be available afterward for one year.
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