Rivalry Officially Awarded Sports Bookmaker License for Australia

Rhea-AI Summary

Rivalry Corp. has received approval for its sports bookmaker license from the Northern Territory Racing Commission in Australia, allowing it to operate legally across the country. This marks a significant milestone as Australia becomes Rivalry's first fully regulated market. The company aims to connect with esports enthusiasts and leverage the strong sports betting culture in Australia. Rivalry plans to launch its products soon and continues to expand into selected regulated markets globally.

Positive

• Approval of sports bookmaker license from Northern Territory Racing Commission.
• First fully regulated market for Rivalry, enhancing growth strategy.
• Targeting a strong esports betting culture and engaging Millennial and Gen Z demographics.

Negative

• None.

Australia is one of the most coveted and valuable regulated betting markets in the world

TORONTO, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports betting and media company, today announced the approval of its sports bookmaker license by the Northern Territory Racing Commission (Australia) (the “NTRC”) pursuant to the Racing and Betting Act 1983 (NT), which allows the Company to legally operate throughout the whole of the country. Australia is Rivalry’s first fully regulated market, representing a key milestone in the Company’s growth strategy.

“Expansion into regulated markets across the globe is a key part of our growth strategy, and we couldn’t be more thrilled to officially receive our license for Australia,” said Steven Salz, Co-Founder and CEO of Rivalry. “We believe the country’s sport and gaming culture is a great fit for our brand and look forward to connecting with existing fans of Rivalry, and creating many new ones. The approval of the NTRC also demonstrates that we are capable of meeting what are undoubtedly some of the world's highest regulatory standards.”

Australia has been described as the world’s most valuable betting market per capita.¹ It has a strong sports betting culture, supported by a robust regulatory framework. Australia has hosted some of the world’s biggest esports tournaments and has a population of deeply engaged esports fans.²

Rivalry is among the first entrants in Australia to focus on esports betting and the younger Millennial and Gen Z demographic. The Company intends to invest in building its brand and acquiring customers through an expanded toolkit of marketing initiatives that have not been available in its existing markets.

Australia is the first regulated market in which Rivalry has obtained a license. The Company has operated in multiple international markets since 2018 through its Isle of Man license. Further expansion into selected regulated markets is a key element of the Company’s growth strategy. On February 4th, 2022 the Company announced that it became one of the first fully registered operators of internet gaming and sports betting in the Province of Ontario.

The Company is planning to officially launch its product to Australian consumers in the coming weeks. For more information visit www.rivalry.com.

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. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions. Rivalry holds a sports bookmaker license in Australia and 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 | kell@brandstyle.com

Company Contact:
Steven Salz, Co-Founder & CEO
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’s expected launch in Australia.

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 and other disclosure documents 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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¹ The Economist, “World’s Biggest Gamblers,” February 9, 2017; Inside Asia Gaming, “Study Finds Twice As Many Australians Now Gambling Online,” October 14, 2021.
² YouGov, “Is Esports and Untapped Market for Australian Advertisers,” August 11, 2021; ESL Gaming website, https://about.eslgaming.com/australia  

FAQ

What is Rivalry Corp.'s recent achievement in Australia (RVLCF)?

Rivalry Corp. recently received approval for its sports bookmaker license from the Northern Territory Racing Commission, allowing it to operate legally throughout Australia.

How does Rivalry Corp. plan to market its services in Australia?

Rivalry Corp. plans to invest in a variety of marketing initiatives aimed at building its brand and acquiring customers within the Australian esports betting market.

What demographic is Rivalry targeting with its services in Australia?

Rivalry aims to focus on the younger Millennial and Gen Z demographic in Australia.

When will Rivalry Corp. launch its services in Australia?

Rivalry Corp. plans to officially launch its product to Australian consumers in the coming weeks.

What significance does the Australian market hold for Rivalry Corp. (RVLCF)?

The Australian market is significant for Rivalry Corp. as it represents the company's first fully regulated market, crucial for its growth strategy.