eSports

Rivalry Issues 2022 Business Update

Published

3 years ago

January 4, 2022

Triple-Digit Growth in 2021 and a Fortified Balance Sheet Sets the Stage for Rivalry to Continue Redefining Next Gen Betting and Entertainment in 2022

Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (FSE: 9VK), an internationally regulated sports betting and media company, today issued a letter to shareholders summarizing recent progress and outlining strategic priorities for 2022. The full text of the letter follows. All dollar figures are quoted in Canadian dollars.

Rivalry Corp. 2022 Business Update

To our Shareholders,

At Rivalry Corp. (“Rivalry” or the “Company”) we aspire for every year to exceed the last, and in 2021, our third full year of operating, we did just that. We delivered our strongest growth to date.

Since launch, we have demonstrated discipline and execution. Some highlights:

Created the most engaged esports betting brand globally¹;
Increased revenue more than 600% year-over-year (YoY) to $8.9M as of our most recent reported quarter (Q3 2021) on a year-to-date (YTD) basis;
Grew betting handle² over 180% YoY to $66.1M through October 2021 on a YTD basis, with an implied annual run rate as of the last reported quarter (Q3 2021) of nearly $100M;
Customer registrations increased to approximately 600,000 through October 2021 on a YTD basis, up from 350,000 as at 2020 year-end;
Customer acquisition costs remain significantly below market and deliver profitable unit economics³;
Developed all of our technology in house;
Pioneered a new gaming category of Massive Multiplayer Online Gambling Games (MMOGG) with our proprietary title Rushlane;
Conditionally granted a sports bookmaker licence in Australia from the Northern Territory Racing Commission (Australia) (the “NTRC”);
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;
Commenced trading via direct listing on the TSX Venture Exchange on October 5, 2021.

Our ambition does not end there. We are confident 2022 will be another record year of accomplishments. The investment we will be making in all key areas of the business will likely exceed the past three years combined. This sets 2022 up for a multitude of material catalysts:

Anticipated launch in two new regulated markets, Australia and Ontario;
Innovative product releases, demonstrating the power and scalability of our proprietary technology;
New originally developed games to complement Rushlane and our MMOGG category;
New content and media to continue positioning Rivalry as a market-leading brand at the forefront of internet culture;
Launch in new geographies under our existing Isle of Man licence to provide continuous user growth and brand reach across the globe; and
Expand our capital markets presence to increase investor awareness.

Backing this effort is a fortified balance sheet with approximately $41.3 million of cash and no debt as at our most recently reported quarter (Q3 2021), a figure several times the amount we spent to build the entire business.

We are executing against a generational opportunity, and our vision is clear:

Become the leader in next-gen sports betting and entertainment globally.
Have the most engaged brand and portfolio of IP (games, content, creators, and more) that is revered and trusted.

We expect that success on these key priorities will make Rivalry transportable into new categories beyond betting. Why? Because we have a loyal user base and a foundation of trust with under 30’s in a regulated framework, fully KYC’d, with funded wallets, who are deeply engaged in our universe.

Rivalry was born through the mutual passion we share with our target audience: gaming and internet culture. At approximately 40% of the global population⁴, Gen Z and young Millennials, my generation and much of the team represent the largest generational cohort in history. We grew up interfaced with the internet, and view gaming as the sport of the internet. Through that lens, we have shaped Rivalry as a brand that is deeply woven into the fabric of this emerging internet culture that is reshaping multiple consumer industries, in addition to sports betting.

I’m confident Rivalry as a company, and a collection of talented individuals understands better than any of our peers how to navigate and participate in this culture. It is an inevitable generational tidal wave that we are focusing all our efforts on acquiring, retaining, and entertaining.

The growth and market leadership advantages we have created are a product of our disciplined execution on hundreds of large and small details that we deliver as a simple and cohesive user experience. This is how we are building brand equity with long-term sustainable value.

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We measure our success on these efforts in revenue growth and margin expansion, healthy customer acquisition metrics, profitable unit economics, and deepening brand engagement.

In 2022 we are committed to expanding our brand leadership not just in next-gen sports betting globally, but in entertainment in this rapidly evolving internet culture that we are part of. It’s my belief that this intersection we live in, and the demographic we are serving, represents one of the biggest opportunities of the coming decade.

I have complete conviction in our team and strategy, which is now underpinned by the strongest balance sheet we have had since the founding. We will continue to deliver, and 2022 will demonstrate to the market what kind of pace we are capable of.

I wish everyone a successful and healthy year.

Steven Salz
Co-Founder & CEO
Rivalry Corp.

________________________
¹ _{Source: Twitonomy, Social Blade, Rival IQ}
² _{The Company defines “Betting Handle” or “Handle” as the total dollar value accepted in wagers, adjusted for cancellations and corrections.}
³ _{Source: Multiple EU public sportsbook filings}
⁴ _{Source: United Nations}

Related Topics:next-gen sports betting Rivalry

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Emmy-Winning Director R.J. Cutler’s Docuseries Esports World Cup: Level Up Premieres June 6 on Prime Video

Published

1 week ago

May 29, 2025

Niji Narayan

Esports_LevelUp_Documentary_KeyVisual_ft_Jafonso

Prime Video, one of the leading entertainment destinations, will premiere the five-part documentary Esports World Cup: Level Up on June 6, with new episodes released weekly. Directed by Emmy-winning filmmaker R.J. Cutler (Billie Eilish: The World’s a Little Blurry, Elton John: Never Too Late and Martha), the series goes behind-the-scenes of the inaugural Esports World Cup (EWC) in 2024 — a defining moment in global esports, where over $60 million in prize money ignited a high-stakes, multinational battle to crown the world’s top esports Club.

The series is produced by This Machine (a part of Sony Pictures Television), with R.J. Cutler directing, John Dorsey serving as showrunner, and Jane Cha Cutler, Trevor Smith, Elise Pearlstein and Mark Blatty executive producing. Level Up will premiere exclusively on Prime Video in more than 240 countries and territories worldwide.

Esports World Cup: Level Up offers a rare look inside a global competition that’s redefining what it means to be a champion for a new generation of athletes and fans. R.J. Cutler and his team of expert storytellers embedded themselves within the eight-week tournament – watched by over 500 million fans globally – to uncover the personal sacrifices, rivalries and stakes driving the action.

Shot in verité style, the series combines intimate home visits from around the world and on-the-ground coverage from Riyadh, Saudi Arabia. It follows a wide cast of characters – from Club CEOs orchestrating million-dollar strategies to rising stars chasing life-changing wins – while capturing the pulse of elite esports competition.

“What drew me to the Esports World Cup was the compelling human stories unfolding within this high-stakes arena. Level Up isn’t just about the incredible competition and prize money; it’s about the dedication, the passion, and the sheer will of these athletes and teams pushing the boundaries of what’s possible. Under high pressure, we discover the true character of the competitors who vie for $60 million, but who also expose their humanity in the process,” said Cutler.

At the heart of Level Up is the “EWC Club Championship,” an unprecedented, multi-title tournament format where Clubs compete across more than 20 games, earning points toward a single leaderboard. Every match, every point, reshapes the race for global dominance. With the highest prize pool in esports history on the line, the EWC is not just a tournament – it’s a proving ground for the next generation of sports icons.

“A win might make the headlines — but the real story is the people behind it. Level Up dives into the human side of esports: the pressure, the ambition, the sacrifices. It’s about what it really takes to compete at the highest level — and why it matters. R.J. is the best at bringing those stories to life, and this one captures the heart of what we’re building,” said Ralf Reichert, CEO of the Esports World Cup Foundation.

eSports

Esports Charts Wins “Esports Innovation Award” at the EsportsNext Industry Awards

Published

2 weeks ago

May 27, 2025

Niji Narayan

Esports Charts Wins “Esports Innovation Award” at the EsportsNext Industry Awards

Esports Charts, a Ukraine-born analytics company that aggregates real-time viewership insights about esports, has won the Esports Innovation Award at the EsportsNext Industry Awards, hosted by the Esports Trade Association (ESTA) in Dallas, US.

The Esports Innovation Award recognizes an organization or individual that has introduced groundbreaking technology, services, or strategies significantly advancing the esports industry.

Esports Charts was honored for its scalable analytics platform, which provides comprehensive tournament and viewership statistics across more than 25 livestreaming services — helping stakeholders from publishers and teams to fans make smarter, data-driven decisions.

“Winning the Innovation Award from ESTA is an important milestone for us as a leading esports analytics service in the world. Also, we’re especially proud to represent Ukraine-born innovation on an international stage.

“From day one, our mission has been to bring clarity and transparency to the world of esports data. And this recognition from the industry is both an honor and a motivation to keep raising the bar.

“Thank you to our incredible team and partners, who believed in us from the start. This award is a shared success — and we’re just getting started,” Artyom Odintsov, co-founder and CEO of Esports Charts.

eSports

TEAM VITALITY WINS INTEL EXTREME MASTERS DALLAS 2025

Published

2 weeks ago

May 26, 2025

Adrienn Sarkany

Today, leading esports club Team Vitality was crowned champions at the Intel Extreme Masters (IEM) Dallas 2025, held at the Kay Bailey Hutchison Convention Centre. Most Valuable Player (MVP) Mathieu “ZywOo” Herbaut guided the team to an imperious victory in Texas, delivering standout performances throughout the tournament, particularly in the Grand Final against MOUZ. With this victory, Team Vitality is crowned the champions of IEM Dallas 2025, bouncing back from a narrow 2-1 defeat in the 2024 tournament, where they finished as runners-up.

ANOTHER TROPHY LIFTED IN TEAM VITALITY’S LEGENDARY RUN

The powerhouse lineup of Dan ‘apEX’ Madesclaire, Mathieu ‘ZywOo’ Herbaut, Shahar ‘flameZ’ Shushan, William ‘mezii’ Merriman, and Robin ‘ropz’ Kool all shone on the server, defeating several top-tier clubs, with “ZywOo” being named as the tournament’s MVP.

Kicking off their run in Group A, Team Vitality’s first match saw an impressive 2-0 win over South American side Legacy, showcasing their strength on both Inferno and Dust 2. The Upper Bracket Semifinals presented a closer challenge against GamerLegion, yet Team Vitality held firm and secured another 2-0 victory.

In the Upper Bracket Final, the French powerhouse faced Mongolian org, The MongolZ. The series began with a 13-10 Team Vitality victory on Inferno, but the MongolZ answered back with a 13-7 win on Nuke. However, the Bees levelled the series back on Mirage, where flameZ delivered a standout performance, leading them to a 13-11 victory. This victory continued Team Vitality’s 28-game win streak and secured their spot in the Playoffs Semi-finals.

The Semi-Final saw a rematch of the IEM Melbourne 2025 Grand Final, as the Bees faced off against Team Falcons. Dust II went the way of Team Vitality, with a commanding 13-7 win. However, the opposition roared back to take Train 13-6, setting up a grandstand final round on Inferno. Here, Team Vitality rallied together and managed to see off their rivals in close fashion, winning 13-11 to set up the Grand Final against MOUZ.

Team Vitality kicked off the Grand Final with a stunning comeback victory on Dust II, winning 13-11 from being 8-11 down. The Bees continued their early form into Mirage, asserting their dominance early to take a 13-9 win. The French club finished the 3-0 sweep on Inferno, taking a 13-8 win to secure the victory.

TEAM VITALITY EXTENDS THEIR REIGN IN COMPETITIVE CS2

The 2025 IEM Dallas title marks the club’s sixth Counter-Strike tournament win of the year. By defeating MOUZ at the Kay Bailey Hutchison Convention Centre, Team Vitality extends their historic streak – a triumph made even more meaningful by taking place in Dallas, a city deeply rooted in Counter-Strike’s competitive legacy.

Fabien Devide, President of Team Vitality, said: “I’m extremely proud of our CS team for securing yet another major title with this IEM Dallas victory. Team Vitality continues to showcase the strength and excellence of French esports organisations on the global stage, and we have no intention of slowing down anytime soon.”

With the IEM Dallas title under their belt, Team Vitality have established their status as the team to beat for the remainder of the 2025 competitive calendar. Their unstoppable run will continue at the BLAST Austin Major next month, followed by IEM Cologne in July, where the team will look to continue winning trophies. By winning IEM Dallas, Team Vitality has already taken the first step in securing back-to-back ESL Grand Slams, a feat never before achieved by any other esports club.