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Getting ready for Ontario! Exclusive Canada interview with Evoplay

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Reflecting on Evoplay’s LatAm success: Exclusive interview with Vladimir Malakchi, CCO

 

As one of the industry’s most innovative gaming studios gets ready for North America, we sat down with Evoplay’s superstar CCO, Vladimir Malakchi to talk through their exciting plans for the continent, and why Ontario can be one of the industry’s most exciting new opportunities for 2022 and beyond.

With Ontario set to be one of 2022’s biggest opportunities in North America – what is Evoplay looking to bring to the table in Canada?

Canada’s gambling industry is currently developing at a faster rate than Europe’s various regulated markets, with player preferences also changing at a rapid rate. We communicate with operators who are already live in the country, and they confirm that Canadians are in search of innovation and engaging forms of entertainment, which aligns with our direction in terms of product development.

It is well known that Canadians are enthusiastic gamblers, with around 75% of all Canadians happy to give casual gaming a try as entertainment. These activities tend to be associated mainly with scratch cards and sports betting, as they tend to deliver the maximum level of anticipation and built excitement around each win. For this reason, roughly 36% of Canada’s gaming demographic prefers scratch cards, while only 22% choose casino entertainment.

This is where our pioneering portfolio comes into play, meeting the interests of a vast selection of Canadian players with our sports-themed titles and instant games. We have already prepared a superb football pack that will undoubtedly hit the spot, while our team has continued to work on eye-catching betting mechanics to fulfil the requirements of even the most seasoned bettors.

Talk us through Evoplay’s take on the Canadian slot scene – how much does it differ to the land-based heritage of the US?

At its root, the land-based scene stands at odds with the majority of markets. Canada’s iGaming industry originated from a rich culture of brick-and-mortar casinos, but its notably high-tech-oriented population has influenced the development of online gaming in the region considerably.

With Canadian players interested in cutting-edge technologies, they are more demanding of high-quality gamification, graphics, and entertainment than the average player. Since Evoplay has always been known for its innovative approach to game design in all types of games, we know where we stand with the audience and are aware of where we need to be to keep them engaged.

How do you see Evoplay’s extensive experience entertaining players in Europe and LatAm adapting to the Canadian market?

We always align with data when entering any new market, following the same protocol with Canada as we would going live in any other region. We are aware of its most common trends, though a deeper insight into players’ preferences will only be possible through partnering with operators that serve the Canadian market. Such insight will allow us to see a clearer picture of how we can adapt our products to make them even more attractive to Canadian audiences.

How fast do you see the Ontario market liberalising itself for players and operators? How can games studios differentiate themselves in what will be a highly competitive market?

With around 40% of the country’s population situated in the city, Ontario is a market with fantastic potential. According to the surveys, its GGR will be approximately $1.25 billion this year, with the tendency to rise to $1.84 billion in 2023 and $2.54 billion in 2026.

Like many other countries, Canada has various restrictions surrounding advertising and responsible gambling which are unlikely to be lifted anytime soon, but it still leaves a lot of capacity for industry development.

The launch of Canada’s iGaming market in April unleashed the floodgates, with many providers flapping to be one of the first to cast the line in this highly advantageous province. However, speaking from experience, less than half of them will have long-term stints in the market. In the meantime, we will continue to deliver state-of-the-art products that resonate strongly with players of all demographics.

Last but not least – vision 2024: what’s Evoplay’s plans for going live in both the US and Canada within the next two years?

Both markets arrive with their list of challenges surrounding legal issues, but we are now at the stage of active dialogue and laying the groundwork, and if one thing is for sure, it is that our products are extremely attractive to players in region.

As game developers go, we are very unique. The vast majority of providers can’t deliver the same level of quality and entertainment as us, and certainly not in the same timeframe that we are able to, which is extremely important for such a demanding demographic of player. I’m sure they’ll be a big part of our plans for many years ahead!

Canada

Rivalry Corp Reports Record Third Quarter 2023 Results, Reaffirms H1 2024 Profit Guidance

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Company achieves record Q3 against reduced marketing spend and flattened Opex, highlighting operating leverage; strongest customer KPI’s on a year-to-date basis in Rivalry Corp’s history; positioned to accelerate growth with recently announced $14M capital infusion

  • Betting handle of $105.7 million, up 50% year-over-year, while reducing marketing spend 13%.
  • Revenue of $8.7 million, a 22% increase year-over-year.
  • Gross profit of $4.0 million, up 90% year-over-year.
  • Casino has grown to approximately half of the company’s betting handle in Q3, demonstrating ability to cross-sell next generation bettors and drive growth against unseasonably low viewership in select Q3 eSports events.
  • Year-to-date customer KPI’s the strongest in company history: all-time high average handle per customer, average revenue per user and record low cost of customer acquisition.
  • Year-to-date betting handle has increased 127%, revenue by 70% and gross profit up 175% over the first nine months of 2022. Achieved while reducing marketing spend, highlighting the inherent operating leverage in the business.
  • Subsequent to the quarter end, Rivalry Corp completed a $14 million capital infusion that strengthens the balance sheet and provides the company with capital to pursue growth and profitability at the same time.
  • Company re-affirms guidance, anticipates achieving profitability in H1 2024.
  • Announces virtual investor day to be held on January 17, 2024.

Rivalry Corp (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Millennials and Gen Z, today announced its financial results for the three and nine-month periods ended September 30, 2023. All dollar figures are quoted in Canadian dollars.

“We are proud to have delivered a record third quarter while exercising discipline on costs amidst a challenging capital markets environment for growth companies,” the co-founder and Chief Executive Officer for Rivalry Corp, Steven Salz, said. “Now, with our recently announced capital infusion, we will be able to go back on the offensive, while still maintaining our path to profitability.

“Years of consistent performance, flattened Opex multiple quarters in a row, demonstrated triple-digit growth year-over-year across core metrics year-to-date with all-time high average handle per customer, average revenue per user and record low cost of customer acquisition over that same period gives me high conviction in Rivalry Corp’s future. It is this proven operating leverage, supported by an improving sportsbook margin profile resulting in more revenue per dollar wagered now fuelled by growth capital, that is creating a significant opportunity set for Rivalry Corp. It is that combination which gives us confidence to reaffirm our first half 2024 profitability guidance.”

Third Quarter 2023 Highlights:

  • Betting handle for Q3 2023 was $105.7 million, an increase of $35.4 million or 50% from $70.3 million in Q3 2022.
  • Revenue was $8.7 million in Q3 2023, a record result for a third quarter, representing an increase of $1.6 million or 22% from $7.1 million of revenue in Q3 2022.
  • Gross profit was $4.0 million in Q3 2023, an increase of $1.9 million or 90% from $2.1 million of gross profit in Q3 2022.
  • The casino segment generated approximately half of total betting handle ($50.4 million). Recent casino product launches including a custom-branded slots category, a new original game Cash & Dash and the release of Casino.exe on our iOS mobile app in Ontario set the stage for continued growth and increased player wallet share.
  • Modest decline in operating expenses sequentially continues the trend of effective cost management while still maintaining significant year-over-year growth rates at the company.
  • Net loss was $5.6 million for Q3 2023, a 6% reduction from the net loss of $6.0 million in Q3 2022 and 12% decrease sequentially.
  • Rivalry Corp launched an industry-first same-game parlay product for eSports within the quarter, supporting an improved sportsbook product mix and contributing to an enhanced margin profile.
  • The company had $7.4 million of cash and no debt as at September 30, 2023.
  • On November 15, 2023, Rivalry Corp strengthened its balance sheet with the announcement of a private placement offering of $14 million principal amount senior secured convertible debentures to scale several strategic verticals across marketing, product development and geographic expansion.

Year-to-Date 2023 Highlights:

  • Betting handle for the nine-month period ended September 30, 2023 was $338.1 million, an increase of $189.2 million or 127% from $148.9 million in the comparable period of 2022 while marketing spend decreased by 8%.
  • Revenue was $29.2 million in the first nine months of 2023, representing an increase of $12.0 million or 70% from $17.2 million of revenue the previous year.
  • Gross profit was $13.2 million in the first nine months of 2023, an increase of $8.4 million or 175% from $4.8 million of gross profit a year earlier.
  • Net loss of $15.2 million in the nine-month period ended September 30, 2023, a reduction of $3.6 million compared to a net loss of $18.8 million over the same period in 2022.

Investor Day:

Rivalry Corp is pleased to announce a virtual investor day to be held at 10:00am EST on January 17, 2024. The company will discuss its outlook for 2024, growth initiatives, upcoming product innovations and insights into the Gen Z consumer. More details will be revealed in the coming weeks.

Investor Conference Call:

Management will host a conference call at 10:00am EST on Wednesday, November 29, 2023 to discuss the company’s third quarter 2023 financial results.

  • Dial-in: 888-886-7786 (toll free) or (+1) 416-764-8658 (local or international calls).
  • Webcast: A live webcast can be accessed from the Events section of the company’s website at www. RivalryCorp .com. A replay of the webcast will be archived on the company’s website for one year.

Rivalry Corp’s financial statements and management discussion and analysis for the period ended September 30, 2023 are available on SEDAR+ at www. SedarPlus.ca and on the company’s website at www. RivalryCorp .com.

Stock Options:

The company also announces that it has approved a grant of stock options, pursuant to the terms of the company’s equity incentive plan, to an investor relations service provider. A total of 44,444 stock options have been awarded to such investor relations service provider. The stock options will be exercisable at an exercise price equal to the closing price of the subordinate voting shares on the TSX Venture Exchange two trading days following the issuance of this press release, for a period of five years from the date of the grant. The stock options vest in equal quarterly instalments over a period of twelve months, commencing on the three-month anniversary of the date of the grant.

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MDC Showcases Exciting $5 Crash Gambling Offer for Canadian Players

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Minimum Deposit Casinos (MDC), a top casino affiliate site, is excited to feature an exclusive offer from Jackpot City Casino, introducing an innovative crash gambling experience in Canada. This promotion, highlighting a special $5 deposit option for engaging crash gambling games, is set to transform the Canadian digital gaming landscape, marrying affordability with high-energy gaming.

A New Era in Online Gaming

Amidst the rising popularity of crash gambling games, this featured offer caters to a wide spectrum of players, emphasizing both strategic gameplay and the excitement of real-time betting. The $5 deposit option democratizes access to online gambling, inviting more players to experience the thrill of high-stakes gaming without the associated high costs.

Exclusive $5 Offer – FlyX Awaits

In a special promotion, Jackpot City Casino is offering an exclusive deal for players directed through MDC. With a simple $5 deposit, players can unlock 40 free spins on the popular crash gambling game, FlyX. This offer enhances the gaming experience, providing increased opportunities for winning and an affordable gateway into crash gambling.

MDC: Curating Top Gaming Deals

A spokesperson at MDC remarks, “Featuring this offer from Jackpot City Casino aligns with our mission to bring the most exciting and affordable gaming experiences to our community. This $5 deposit initiative not only makes gaming more accessible but also showcases our commitment to offer our users exceptional deals.”

Diverse Gaming Opportunities Await

The inclusion of $5 deposit casino options presents a rich variety of crash gambling experiences. Each game offers unique challenges and rewards, ensuring that players of all preferences and budgets have access to engaging gaming options through MDC.

Turning Modest Deposits into Significant Wins

This initiative underscores the potential for players to achieve significant returns from modest investments. Crash gambling games, known for their dynamic and thrilling nature, provide opportunities for impressive wins, even from small starting bets.

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Expanse Studios Forges Super Prospective Media Partnership with SlotsOnlineCanada.com

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In its latest stride toward expanding its digital footprint, Expanse Studios has entered into an exciting media partnership with SlotsOnlineCanada .com, a trusted and Canada’s most renowned online resource dedicated to guiding local slot enthusiasts.

A Canadian Authority on Slots

SlotsOnlineCanada.com, with over a decade of presence, has become a cornerstone for Canadian players seeking insightful slot reviews and a chance to play online slots for free. The site distinguishes itself with contributions from notable gambling experts. The website stands out as the authentic go-to site for Canadian players, offering unbiased reviews and gaming insights.

A Series of Exciting Collaborations

This partnership with Expanse Studios is a continuation of Expanse’s streak of significant alliances in the gaming world, underscoring a shared commitment to providing top-notch gaming experiences. SlotsOnlineCanada.com has already showcased Expanse Studios’ innovative slots, including “Wild Icy Fruits” and “Clown Fever Deluxe”, with in-depth reviews that players have found invaluable.

“We are thrilled to partner with SlotsOnlineCanada.com and bring our slot games into the spotlight for Canadian players,” said Damjan Stamenkovic, CEO of Expanse Studios. “SlotsOnlineCanada.com’s expertise and authoritative voice in the Canadian market make them the perfect platform to showcase our exciting gaming portfolio and ongoing expansion onto Americas.”

“It is with great excitement that we welcome this new collaboration with Expanse Studios. They have produced some super exciting online slots games, and slot players in Canada will now have the opportunity to read our Expanse game reviews and find how to play these exciting slots when they visit our site” said Gayle Mitchell, one of the leading online casino experts at OnlineSlotsCanada.

SlotsOnlineCanada.com was established over 10 years ago to help Canadian slots players choose the best online slots and casinos. They offer detailed slot reviews and allow players the opportunity to play online slots games for free before committing to play for real money. Their team of expertise include Gayle Mitchell who is a seasoned gambling author and writer in Canada and also John Grochowski, who has been one of the world’s most prolific casino writers since launching a weekly Gaming column in the Chicago Sun-Times in 1994.

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