Rivalry Applauds iGaming Ontario Announcement of April 4th 2022 Official Launch Date
Rivalry Corp. (OTCQX: RVLCF) is set to launch internet gaming in Ontario on April 4th, 2022, following support from iGaming Ontario. The company has actively engaged in the licensing process and submitted its application to the Alcohol and Gaming Commission of Ontario (AGCO). Rivalry aims to provide a safe, regulated gaming environment, enhancing consumer choice in a competitive market. The company currently operates globally, holding an Isle of Man license and innovative gaming products like Massively Multiplayer Online Gambling Games (MMOGG).
- Launch of internet gaming in Ontario on April 4th, 2022, may increase market access and revenue.
- Active participation in the licensing process demonstrates commitment to compliance and regulatory standards.
- Possession of an Isle of Man license highlights credibility in the online gaming industry.
- Approval of the license by AGCO is still pending, which may delay operational launch.
- Competitive environment poses challenges against established operators.
Internet Gaming Set to Commence on April 4th, 2022
TORONTO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (FSE: 9VK) (OTCQX: RVLCF), an internationally-regulated sports betting and media company, today expressed support for the iGaming Ontario announcement of an April 4th, 2022 launch date for internet gaming in the Province of Ontario.
“We are very excited to learn that Ontario residents will have access to safe, regulated internet gaming on April 4th of this year,” said Steven Salz, Co-Founder and CEO of Rivalry. “We support this decision and believe it is the best way forward for the province. Rivalry has been involved in the Ontario licensing process since it was first announced, and we look forward to launching services in our home market.”
As previously announced, Rivalry has 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 Ontario. The Company continues to work through the application process.
iGaming Ontario was established by the Province of Ontario in 2021 to conduct and manage internet gaming in the province when provided through private gaming operators. The Ontario government’s stated objectives include creating a safe, regulated, and competitive online gaming market to help protect consumers and provide more choice while ensuring a level playing field for new businesses.
About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media property offering fully regulated online wagering on esports, traditional sports, and casino for the next generation of bettors. Rivalry Limited currently holds an Isle of Man license, considered one of the premier online gambling jurisdictions. Based in Toronto, Rivalry operates a global team in more than 18 countries and growing. Rivalry Limited was granted its Isle of Man license in early 2018, officially launching in August of that year, and the Company is currently in the process of obtaining additional country licenses. The Company also has a variety of originally developed products, including Quest, an on-site engagement experience, and an original casino game called Rushlane, a proprietary casino game that marks the creation of a new category for online gaming: Massively Multiplayer Online Gambling Games (MMOGG).
Investor Contact:
Vincic Advisors
Jeff Codispodi I investors@rivalry.com
Media Contact:
BRANDSTYLE COMMUNICATIONS
Kell Cholko I kell@brandstyle.com
Company Contact:
Steven Salz, Co-Founder & CEO
416-565-4713
ss@rivalry.com
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 in this news release include, but are not limited to, statements in respect of the Company being approved as a licensed operator of internet gaming and sports betting in Ontario and the timing of internet gaming services being launched in Ontario.
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. 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 esports 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 esports and other betting products are not guaranteed; changes in public perception of the esports 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. For additional risks, please see the Company’s prospectus dated September 17, 2021 available on the Company’s SEDAR profile at www.sedar.com.
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.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Source: Rivalry Corp.
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