Canada
Leading Esports Sportsbook and Media Company Rivalry Announces Oversubscribed US$20 Million Funding Round to Fuel Growth
Toronto-based platform is positioned for the next generation of bettors across all sports
Rivalry, an internationally-regulated sports betting and media property, today announced the completion of a US$20 million funding round to scale its operations and country licencing program. Institutional investors from Canada, the United States, the European Union, and a major gaming operator contributed to the raise. The company intends to pursue a potential going public transaction which it expects to complete this year.
Co-founder and CEO Steven Salz says, “At Rivalry we are building the leading sports betting and sports media property for the next generation of bettors globally, which we believe is an uncapped multi-billion dollar opportunity. With the close of this funding round we are able to accelerate our expansion plans through new licences and grey markets under our existing regulatory regime, new product development, and our goal to provide the safest and most engaging sports betting experience in the world. While Rivalry started by focusing on esports betting, an increasing percentage of our business is traditional sports, and shortly a suite of original casino IP. Our ambition has always been to leverage esports as a pathway to the next generation of sports bettors and build a truly novel experience for them top to bottom.”
Rivalry owns all of its intellectual property, and utilizes no white labels, which is a rarity in the world of sports betting and casino. This approach offers total control of the user experience, and has enabled Rivalry to inject enhanced gamification, delight, and surprise throughout its product.
As critical to the company as a great betting product is its media strategy. Rivalry’s social and content properties generate more engagement than any other brand in esports betting, and the company is still only in the first inning of its media vertical roadmap. Rivalry has built a betting platform designed to appeal to a new demographic that is now coming into the fold of sports betting. Creating a playful social and content experience that flows through that entire betting experience is key to achieving that. The company believes that betting is entertainment and content, as much as something transactional for a next-gen customer base, and keeps this at the forefront of its growth plans.
“We are more confident than ever in the future of Rivalry. 2020 saw the business grow nearly 10x over the prior year, and early into 2021 we are tracking at over 400% growth on a year over year basis,” noted Salz. “With this new round of funding we believe we will be able to accelerate our growth rate, and when combined with incredible new hires across all key divisions, multiple-country licences being completed in the near-term, and a brand that is growing rapidly amongst our target demographic in all key markets, we are excited for what the future holds at Rivalry.”
Canada
ComeOn Group adds sportsbook to its offering in Ontario
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
Canada
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.
The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.
Canada
IAGR announces Toronto as host city for 2025 conference
Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.
The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.
‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.
‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’
AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’
Stay tuned for registration details early next year.
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