Press Releases
$2.5 Trillion Dollar Millennial Megawave Drives Boom in Video Games and Sports Betting: CEOs of Electronic Arts, FansUnite, ESE Entertainment, and Penn National Discuss New Paradigms of Interactive Entertainment

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: FansUnite, Electronic Arts, ESE Entertainment, and Penn National Gaming.
“Video games have replaced music as the most important aspect of youth culture” is the headline of a recent article in The Guardian, which parallels recent reporting in The Washington Post, and New York Times, highlighting new paradigm shifts in entertainment and consumer behavior. Millennials and GenZ now have $2.5 trillion in spending power, replacing Baby Boomers as the dominant consumer force. The global video gaming industry took in an estimated $180bn in 2020 – more than sports and movies worldwide. The new generation prefers interactive forms of entertainment such as video games and online sports betting. Younger generations left behind traditional media for social media over the past decade – and now they are leaving behind social media for more interactive experiences. Wall Street Reporter highlights the latest comments from industry thought leaders:
“…After the biggest first quarter in the history of Electronic Arts, our second quarter of FY 2021 showed continued strength with net revenue and earnings above our guidance. We are driving growth through the breadth, depth and quality of our new games, our industry-leading live services and expansion to more platforms and more ways to play… We delivered eight new games so far this year, and our network has grown to more than 330 million unique accounts as tens of millions of new players have joined to enjoy more of our amazing games and content. EA SPORTS continues to be a leader in sports interactive entertainment…
“…Our esports programs are scaling the new records in viewership also. Our new Madden NFL episodic content featuring NFL athletes, celebrities and top Madden NFL players is bringing great entertainment to a much wider audience. And our recent FIFA 21 challenge, which paired esports stars with celebrity soccer players was our most-watched esports event to date, with viewership that places it among top esports broadcast worldwide.
“A few thoughts on our growth drivers for FY 2022 and beyond: Each previous console generation has grown in the global market and we expect this transition will be the same. We plan to launch at least six new games on the next-gen consoles in FY 2022. These will include a new Need for Speed game that is bringing some astounding visual leaps, developed by the Criterion team who have launched some of the most highly-rated games in franchise history…”
In a recent presentation at Wall Street Reporter’s NEXT SUPER STOCK livestream, FansUnite (OTC: FUNFF) (CSE: FANS) CEO Scott Burton explained how the company’s latest distribution deal with an online casino games aggregator sets the stage for exponential revenue growth opportunities. In the next 12 months, FUNFF plans to expand its current line from three games to twelve – while adding multiple aggregators for each game – reaching millions of new online casino customers worldwide. With each game generating as much as $500,000 in revenue per month for FUNFF – per online casino – and the potential to be in hundreds of online casinos – these numbers can quickly add up.
January 11 – FUNFF closes an oversubscribed C$13.4 million private placement driven by strong investor demand. “The successful closing of this upsized financing provides further validation that the global gambling market is seeing a resurgence in demand from investors,” said Scott Burton, CEO of FansUnite. “Despite the headwinds caused by the global pandemic in 2020, we saw consumers adopt and embrace online betting for its ease of access and simplicity. With our seasoned team of gaming operators, global B2C brands, and our industry adopted B2B technology platform, we were able to execute on multiple milestones that delivered value to our customers and shareholders. As we now look to advance our operations globally, we believe this additional capital will allow us to explore strategic initiatives and execute on our vision of becoming a globally recognized iGaming leader.”
December 16 – FUNFF gains first-mover advantage into the U.S. esports betting market, as its long-term partner GameCo joins US Bookmaking and Sky Ute Casino to establish the first dedicated esports sportsbook in the United States. FUNFF wholly-owned subsidiary Askott Entertainment will supply its iGaming platform, Chameleon, as part of a fully integrated esports betting solution. Through GameCo’s partnership with Sky Ute Casino and US Bookmaking, FansUnite will be the first iGaming solutions provider to receive significant exposure in the U.S. esports betting market.
December 7 – FUNFF receives Malta Gaming Service License and Critical Gaming Supply, and will now be able to offer a full spectrum of online gambling services in Europe, covering Casino, Fixed Odds Betting, Pool Betting and Controlled Skilled Games. With MGA approval received, FansUnite will be joining other highly respected gambling companies such as PokerStars, Betfair and Unibet in operating their business within MGA regulations.
ESE Entertainment (TSX.V: ESE) (OTC: ENTEF) CEO, Konrad Wasiela, a featured presenter at Wall Street Reporter’s NEXT SUPER STOCK investors livestream conference, shares his vision for building ESE into the dominant player in the multi-billion dollar global E-Sports market. ESE is now rapidly expanding, with multiple revenue streams, including E-Sports infrastructure software powering global tournaments, exclusive digital media distribution, broadcast rights, and owning world-class leagues and teams, including its K1CK global E-Sports franchise.
In his interview with Wall Street Reporter, ESE CEO, Konrad Wasiela, says the company is now ready to scale – expanding its global footprint, with new partnerships with global brands like Porsche, driving revenue growth with aggressive focus on top line sales and margin expansion, and M&A opportunities.
January 8 – ESE announces Actina, a leading gaming hardware brand, is sponsoring ESE’s K1CK e-sports team for the 2021 season. The League of Legends K1CK team Competes in Ultraliga, a Riot Games licensed league that is broadcasted on national TV in Poland on the Polsat Games Channel.
December 24 – ESE closes an oversubscribed private placement of C$3.6 million.
December 17 – ESE announces that Nuvei Corporation (NVEI), a leading global payment technology company, will be the title sponsor for ESE’s K1CK e-sports team for all of its competitions for the 2021 season, across League of Legends, FIFA, Apex Legends, and more.
“…we’re most excited about the potential for significant long-term growth and value creation through our highly differentiated omnichannel strategy. To that end, we look forward to the launch of our Barstool Sportsbook mobile app in September here in Pennsylvania. We think Barstool’s loyal followers and our existing casino guests will greet unlike anything in the market today… Our Hollywood branded real money iCasino product in Pennsylvania continues to grow nicely even after the reopening of our casinos the last couple of months, with a meaningful portion of our revenues coming from our inactive database. Our proven ability to convert our casino database, together with our partnership with Barstool Sports, will provide significant organic customer acquisition and cross-sell opportunities. In sum, we believe we are extremely well-positioned to capture an outsized share of the growing US sports betting and iCasino market… Despite the ongoing uncertainties with this pandemic, we’re extremely excited for the future and believe all the seeds we planted throughout 2020 will provide a strong foundation for new growth and opportunity ahead.
“…we’ve taken our time to launch Barstool because we’re launching a very competitive product with things like traveling wallet. I think our bet flip experience is second to none, the intuitiveness of how to use the app, and importantly the exclusive betting options, are really the differentiation that we’re going to I think be able to deliver, it’s going to get better over time, but even day one – and I am not going to get too much detail here because we’re yet to see it when we launch it. You’re going to see a lot of opportunities to engage with Dave Portnoy, and Big Cat, and Brandon Walker, and Marty Mush, and many others at Barstool – if you want, bet with them, or you want to bet against them, if you want to save their bets. These are things we’re going to be able to do day one and I think you should imagine that the content and the branding integration into our app with Barstool is just going to get better and better and better every time we do a version release, and we think that we’ll be able to do a new version release probably every six weeks after we launch, so I’m excited about everything…”
Latest News
Olympia Gaming Launches Mobile Apps, LB Rewards and CF Rewards

Olympia Gaming, the developer of Casino Fandango in Carson City, NV and Legends Bay Casino in Sparks, NV and Quick Custom Intelligence (QCI) today announced the rollout of mobile apps, LB Rewards and CF Rewards. With this launch, Olympia Gaming becomes the first operator in Northern Nevada to deliver the QCI Player App, setting a new regional standard for real-time, mobile guest engagement.
Current Features (Now Available):
- Player Account Information – live tier status, point balance, free play, and comp dollars
- Offer Listing – view of current and upcoming offers including free play, dining and hotel
- Secure Tax Forms – digital retrieval of win/loss statements and tax documentations
- Push Notifications & Event Alerts – real-time updates tailored to guest preferences
Future Features (Coming Soon):
- Entertainment & Special Event Schedule – full calendar of concerts and events
- Host Chat & Service Requests – direct, secure messaging for concierge-level support
- Interactive Property Navigation – maps, parking guidance, and way-finding tools
- Interactive Prizes – in-app rewards that are redeemable at either casino
“Launching the QCI Player App is a milestone for both Casino Fandango and Legends Bay Casino,” said DeCourcy Graham, Chief Operating Officer at Olympia Gaming. “Our guests can now see their rewards, view exclusive offers, and even access tax forms—all from their mobile device, furthering the value of our rewards program. We are thrilled to pioneer this technology in Northern Nevada and elevate the guest experience across our properties.”
With a combined focus on value and exceeding guest expectations, Olympia Gaming and QCI’s collaboration is delivering on a promise to set a new industry standard, offering capabilities that surpass current market offerings.
“Olympia Gaming challenged us to create an app that goes beyond basic account lookup and truly empowers the player,” said Dr. Ralph Thomas, Chief Executive Officer at QCI. “This successful launch reflects a close collaboration between the Olympia team and QCI, and we are excited to see the QCI Player App drive deeper engagement and new revenue opportunities for both properties.”
The LB Rewards and CF Rewards mobile apps are now available for download on Apple IOS and Google Play store.
Latest News
Rivalry Announces Application for a Management Cease Trade Order for Late Filing of Annual Filings

Rivalry Corp. (TSXV: RVLY) (OTCQB: RVLCF) (“Rivalry” or the “Company”), the leading sportsbook and iGaming operator for digital-first players, today announces that it will be late in filing its audited financial statements and management’s discussion and analysis for the year ended December 31, 2024 and related certifications (the “Annual Filings”).
In response to the Annual Filings delay, the Company has applied to the Ontario Securities Commission for a management cease trade order (the “MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) that will prohibit the management of the Company from trading in the securities of the Company until such time as the Annual Filings are filed. No decision has yet been made by the Ontario Securities Commission on this application. The Ontario Securities Commission may grant the application and issue the MCTO or it may impose an issuer cease trade order if the Annual Filings are not filed in a timely fashion. If the MCTO is granted, such an order would not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the securities of the Company pending the filing of the Annual Filings on SEDAR+.
As previously announced, the Company has initiated a review of strategic alternatives to maximize long-term stakeholder value (the “Strategic Review”). The Company has determined that it is in the best interests of the Company to utilize its current management resources to advance the Strategic Review, resulting in a delay of completing the Annual Filings by the April 30, 2025 deadline.
The Company is working on the preparation of the Annual Filings and expects to complete the Strategic Review and the Annual Filings by June 30, 2025. Until the Annual Filings are filed, the Company intends to satisfy the provisions of the Alternate Information Guidelines as set out in NP 12-203 for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news release.
The Company confirms that it is not subject to any insolvency proceeding as of the date hereof. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date hereof.
Company Contact:
Steven Salz, Co-founder & CEO
[email protected]
Investor Contact:
[email protected]
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 with respect to the Strategic Review, the anticipated filing of the Annual Filings, the application for the MCTO and the granting thereof by the Ontario Securities Commission.
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; negative cash flow from operations and the Company’s ability to operate as a going concern; failure to retain or add customers; the Company having a limited operating history; operational risks; cybersecurity risks; 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 management’s discussion and analysis for the three and nine months ended September 30, 2024 under the heading “Risk Factors”, and other disclosure documents available on the Company’s SEDAR+ profile at sedarplus.ca.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Latest News
Rivalry Reports Strong Q1 2025 KPI Growth, Validating Strategic Pivot Amid Temporary Margin Variance

Rivalry Corp. (TSXV: RVLY) (OTCQB: RVLCF) (“Rivalry” or the “Company”), the leading sportsbook and iGaming operator for digital-first players, today shared preliminary key performance indicators (“KPIs”) and revenue figures for the three months ended March 31, 2025 (“Q1 2025”), underscoring the success of its strategic transformation and path toward sustainable, profitable growth. All dollar figures are quoted in Canadian dollars.
Q1 2025 marks the first full quarter under Rivalry’s revamped operating model, following significant changes to product offerings, organizational structure, cost management, and user acquisition strategies. Underlying KPIs show improved unit economics, deeper engagement, and structural momentum toward long-term sustainability.
Revenue in the quarter was lower than prior periods – a result of Rivalry’s deliberate shift to a leaner, more efficient model – creating a stronger foundation that the Company is now building on. The shortfall also reflected temporary variance in sportsbook hold, amplified by a strategic focus on high-value and VIP players. The Company believes that these segments drive significantly greater long-term value but can introduce short-term volatility as they scale.
“Our Q1 KPIs are delivering tangible results that validate our strategic shift,” said Steven Salz, Co-Founder and CEO of Rivalry. “The structural changes we implemented over the past six months – from streamlining operations and refocusing the product, to modernizing our platform and concentrating on high-value players – are now clearly reflected in our KPIs. We’re operating more efficiently than ever, generating significantly more revenue per user, and moving closer to achieving sustainable profitability.”
Q1 2025 Highlights1:
- Operational Efficiency Up 400%: In Q1 2025, Rivalry generated over 400% more net revenue per user per dollar of operating expense as compared to its average before the strategic overhaul. This marks a significant leap in cost efficiency and operating leverage, validating the impact of recent changes.
- Shift to High-Value Players Driving 175% Increase in Player Monthly Deposits: Total deposits rose 36% month over month in February 2025 and another 12% in March 2025, despite a smaller active user base than past peaks. In Q1 2025, average monthly deposits per player were just over 175% higher than the periods prior to Rivalry’s October 2024 strategic overhaul – a clear result of the Company’s focus on acquiring and retaining high-value players, while improving unit economics and lowering variable costs.
- 115% Increase in Monthly Deposit Frequency: In Q1 2025, average monthly deposit frequency per player increased by 115% compared to the average prior to Rivalry’s October 2024 rebuild – signaling strong user re-engagement and validating the Company’s refined product experience and more targeted player strategy.
- All-Time High in Monthly Betting Handle per User: Monthly betting handle per active user hit a new all-time high in March 2025, marking the fifth consecutive month of record-breaking engagement and deeper player value.
- Record Revenue per User: In March 2025, monthly Gross and Net Revenue per active user reached all-time highs (normalized for margin variance), extending a four-month streak of consistent revenue per active user growth and player monetization strength.
- Month over Month Active User Growth: Monthly active players grew by 9% in March 2025, following a similar increase in February 2025, despite a significantly reduced global marketing budget compared to the same period last year.
- Ontario Regulated Market Showing Strong, Improving Unit Economics: Since the Company’s operational shift, Rivalry’s Average Revenue Per Playing Account (“ARPPA”) in Ontario – a monthly metric defined by and publicly reported by gaming regulator iGO – has generally trended in line with the market average, and in some months exceeded it by as much as 50%. ARPPA has also nearly doubled compared to pre-overhaul levels at Rivalry, reflecting strengthening unit economics supported by efficient customer acquisition, with customer acquisition cost paybacks consistently within single-digit weeks.
Operational Momentum and Efficiency Gains Reflect Structural Progress
The Company’s Q1 2025 performance reflects the first full quarter operating under a significantly leaner structure, with total monthly run rate operating expenses reduced by approximately 65% as compared to prior peak periods.
Betting handle in Q1 2025 was $58.2 million, and net revenue $1.3 million1, for a net revenue margin of 2.3%. This compares to Rivalry’s full-year 2024 net revenue margin of 4.4%1, with the Q1 2025 margin variance largely attributable to short-term fluctuations in sportsbook hold. This was amplified by the Company’s strategic pivot toward high-value and VIP players – segments that offer significantly greater long-term value but naturally introduce more short-term variability in margin performance as they scale.
On a normalized margin basis, Rivalry’s Q1 2025 net revenue would have covered approximately 75% of current run rate operating expenses, inclusive of additional cost reductions completed in early April that lowered monthly operating expenses by approximately $140,000. Growing user value, rising engagement, and stronger unit economics reflect encouraging momentum toward long-term financial sustainability.
“The KPIs are telling the real story – user value is up, efficiency is up, and player engagement is the strongest we’ve seen in the Company’s history,” said Steven Salz, Co-Founder and CEO of Rivalry. “Even with soft margin outcomes in Q1 2025, the model is showing strong underlying signals. As sportsbook hold normalizes and our cost base becomes leaner, we believe we’re moving in the right direction.”
Over the past six months, Rivalry has reduced monthly run rate operating expenses by approximately $1.7 million per month, inclusive of the recently completed April 2025 reductions. These reductions have been enabled by a fully modernized core product with improved site performance and ongoing development velocity across key revenue-driving features. The Company has also realized efficiencies through vendor rationalization and the rollout of AI-driven tools across departments.
“We’ve built a stronger, leaner, and more focused Rivalry,” Salz added. “Our improved KPIs and disciplined cost management have created a healthier foundation. With continued operational momentum and a re-energized product, we believe we’re on a promising path forward.”
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