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Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.

2023 Annual Letter to Shareholders

To our Shareholders,

This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.

Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.

In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2 and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.

Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.

The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.

While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.

Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.

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Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.

The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.

Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.

Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5 organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.

It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.

Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.

To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.

The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.

We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.

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Blitzcrown Secures GLI Certification for Three Crash Games in Brazil

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Blitzcrown Secures GLI Certification for Three Crash Games in Brazil

 

Breaking New Ground in Brazil: Blitzcrown’s Crash Games Now GLI Certified

Blitzcrown, MVG’s pioneering games studio, has secured Brazilian Certification as well as GLI-19 Certification from GLI(Gaming Laboratories International) for its industry-changing three Crash titles. This landmark achievement marks a significant milestone in the company’s expansion into Brazil’s thriving online gaming market, positioning Blitzcrown at the forefront of the region’s rapidly evolving iGaming landscape.

The license comes at an important time for Brazil’s gaming sector, following the launch of the new licensing regime that started on January 1, 2025. The regulatory framework, signed into law in December 2023, has transformed the industry’s prospects.

The certification encompasses 3 innovative crash games: Crash, Fast Crash, and Twin Crash. This strategic milestone establishes Blitzcrown as the premier provider of certified Crash games in the Brazilian market, demonstrating the company’s unwavering commitment to regulatory excellence and gaming integrity. With the GLI-19 and Brazil certification process successfully concluded in March, Blitzcrown has solidified its position as an industry pioneer in this dynamic and emerging market.

Crash games are a recent addition to the global iGaming market, featuring the dynamic evolution of real-time multipliers and immediate reward structures. Blitzcrown has stood out by establishing groundbreaking game mechanisms that offer different and exciting gameplay experiences. Standard Crash provides players with a standard multiplier-based gaming experience, and Fast Crash is optimized for users seeking quick, intense multiplier experiences. The Twin Crash is an original format allowing players to place simultaneous bets on two separate multipliers.

Building on this momentum, Blitzcrown has announced plans to expand its certified portfolio with two additional versions of its innovative Plinko games, demonstrating the company’s strategic commitment to market expansion. This forward-looking initiative underscores Blitzcrown’s dedication to continuous innovation and sustainable growth in the regulated gaming markets.

Blitzcrown is MVG’s edge-game studio focused on pushing game ideas beyond their norms through innovative and non-traditional gaming experiences. The studio has been particularly recognized for its groundbreaking approaches in various game categories, including its successful Crash and Plinko series.

George Cho from MVG said: “This GLI certification testifies to Blitzcrown’s unwavering commitment to offering top-quality, fair gaming systems. We are well placed to take advantage of Brazil’s exciting new regulatory environment and the vast growth potential of the online gaming industry.”

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Belatra excited to present LatAm innovations at BiS SiGMA Americas 2025

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Belatra excited to present LatAm innovations at BiS SiGMA Americas 2025

 

Belatra Games, the specialist online slots developer, is set for its latest appearance at BiS SiGMA Americas in São Paulo, Brazil, from April 7-10, 2025. The company will be based at Stand M30, where it will not only showcase its LatAm innovations but also celebrate its 32nd birthday.

This major milestone brings an extra layer of excitement to Belatra’s time in Brazil. iGaming professionals visiting the stand will enjoy an immersive experience inspired by the studio’s popular classics Make it Gold and Mummyland Treasures. Belatra’s stand includes a smoky bar for a mysterious touch, a prize-filled game for visitors, and a live Mummy roaming the event floor to bring the experience to life.

Belatra’s extensive portfolio of award-winning titles brings together timeless hits with powerful, innovative themes, providing unforgettable entertainment for players.

With a strong foothold in LatAm, Belatra’s regional team, based in Buenos Aires, and Belatra’s global team will be in São Paulo to explore new collaborations and showcase its localised approach to the market.

Andrés Troelsen, Belatra Games’ Commercial Director for Latin America, said: “Our Latin American presence grows ever stronger with the region forming a major part of our growth strategy. We’re happy to be back in São Paulo for BiS SiGMA Americas to connect with partners and explore new opportunities. This year is extra special as we celebrate our 32nd birthday, so come raise a glass with us at our smoky bar!”

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Workers at Caesars Southern Indiana Casino Authorize Strike

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More than 140 workers at Caesars Southern Indiana Hotel & Casino, represented by Teamsters Local 89 and Operating Engineers Local 399, have voted by a 98% margin to authorize a strike. The overwhelming vote is a direct response to management’s refusal to offer a fair contract.

“Our members are united and ready to fight for the strongest possible agreement. This vote sends a clear message — we will not back down. If management won’t negotiate in good faith, we’re prepared to take action,” said Avral Thompson, President of Local 89.

Caesars Southern Indiana, owned and operated by the Eastern Band of Cherokee Indians (EBCI), pulled in more than $240 million in revenue last year, making it one of the most profitable casinos in the state. Workers are demanding a contract that reflects their essential contributions to that success.

“I’ve worked at Caesars for over seven years, and we deserve a contract that values our hard work and dedication. No one wants to strike, but if management keeps disrespecting us at the bargaining table, we’re ready to demand what we’ve earned,” said Sandra Ramirez, a slot attendant at Caesars Southern Indiana and a member of Local 89.

After months of negotiations, management at Caesars Southern Indiana continues to refuse to offer fair retirement benefits and remains far apart on other key economic issues.

“At this point, the ball is entirely in management’s court. If Caesars faces a strike, management will have no one to blame but themselves for the fallout. We stand ready to back our members every step of the way,” said Teamsters General Secretary-Treasurer Fred Zuckerman.

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