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Rivalry Corp. Shares Begin Trading on TSX Venture Exchange

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Rivalry Announces Closing of First Tranche of Previously Announced Strategic Financing

 

Rivalry Corp., an internationally-regulated sports betting and media company, is pleased to announce that its subordinate voting shares will be listed and commence trading at market open today, October 5, 2021 on the TSX Venture Exchange under the ticker symbol “RVLY.”

“Listing publicly on the TSXV marks the next major step in Rivalry’s journey. We are building the most comprehensive betting and entertainment experience for the next generation globally, and feel we are just getting started,” said Steven Salz, Co-Founder and CEO of Rivalry. “Our team is grateful for the support of all our early investors and we look forward to continued mutual success.”

Rivalry became a public company upon being issued a receipt for its final (long-form) prospectus dated September 17, 2021 and following the completion in June of an oversubscribed offering of subscription receipts for gross proceeds of approximately USD$22,000,000 (the “Offering“). The Offering was completed by a syndicate of agents co-led by Eight Capital and Cormark Securities Inc. together with Canaccord Genuity Corp and M Partners Inc.

Strategic Priorities

Rivalry is a fully regulated sports betting and sports media company operating globally where permitted. Focusing on esports, the Company has built Rivalry into the most engaged esports betting brand in the world1. With a wholly owned and internally developed proprietary tech stack, double digit month-over-month growth, and profitable customer unit economics, Rivalry is building the leading betting and entertainment destination for the next generation.

The Company plans to build on this momentum through execution on the following priorities:

  • Leverage Rivalry’s strength in esports betting and strong engagement among the next generation to grow its traditional sports betting and casino games businesses.
  • Increase its presence in regulated markets with an expected launch of sports betting in Australia in Q4 2021, anticipated license applications in Canada, beginning with Ontario, and earlier-stage new license processes in other major markets.
  • Develop and introduce new products, such as innovative multiplayer casino games, based on the Company’s proprietary and highly scalable technology platform.
  • Materially enhance the scope and scale of its media portfolio, including both social media properties and video content across various platforms in order to enhance the global brand resonance of Rivalry.

At the time of listing the Subordinate Shares on the TSXV, is it expected that Rivalry will have the following securities issued and outstanding:

  • 53,225,498 Subordinate Shares
  • 2,222,220 multiple voting shares
  • 6,382,663 warrants to purchase Subordinate Shares
  • 1,955,372 options to purchase Subordinate Shares (“Options“)
  • 1,581,547 restricted share units (“RSUs“)

The securities set out above, include an aggregate of (a) 319,883 Options, 3,207,390 RSUs (of which 1,625,843 have since vested) and 2,346,288 restricted Subordinate Shares (1,292,830 of which are no longer subject to restriction) which were granted and ratified at the meeting of the shareholders of the Company held on September 20, 2021 (the “Meeting“) and which were issued pursuant to the Company’s equity incentive plan which authorizes the grant of awards exercisable for up to 7,438,574 Subordinate Shares as approved at the Meeting and described in the Company’s management information circular in respect of the Meeting; and (b) 222,220 RSUs granted by the board of directors of the Company on September 23, 2021.

At the time of listing, it is expected that approximately 23,075,624 of the Subordinate Voting Shares and all of the multiple voting shares will be subject to contractual lock ups with lock up periods ranging from 3 months to 2 years.

Investor Relations Services

The Company has contracted with Vincic Advisors to provide comprehensive investor relations and strategic communications services. Vincic Advisors has been retained for an initial 12-month term which may be extended by mutual agreement, for a monthly fee of $10,000. In addition, it is expected that Vincic Advisors will be granted 22,222 options to purchase Subordinate Shares following the commencement of trading and in accordance with the policies of the TSXV.

Vincic Advisors is a leading international consultancy focused on the delivery of investor relations, communications and capital markets outreach services. Founded in 2014, Vincic Advisors has helped clients from a broad cross section of industries navigate the nuances and complexities of capital markets communications. Based in Toronto, Vincic Advisors leverages the collective experience of its seasoned practitioners to provide bespoke solutions aimed at helping enhance long-term shareholder value for its clients.

Market Making Services

The Company has retained Venture Liquidity Providers Inc. (“VLP“) to initiate market-making services to aid in maintaining an orderly trading market and improving the liquidity of the Subordinate Shares.   The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSXV and other applicable laws.   For its services, the Company has agreed to pay VLP $5,000 per month for a period of 3 months and thereafter on a month to month basis. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer Co. Ltd. The fee paid by the Company to VLP is for services only. The agreement is subject to TSXV approval.

Interviews

Women in iGaming Interview: White Hat Studios’ Holly Fairweather

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Women in iGaming Interview: White Hat Studios’ Holly Fairweather

 

Holly Fairweather, Director of US Accounts at House of Brands provider White Hat Studios, sits down with Gaming Americas to discuss the growing influence of women in the iGaming industry, and highlights how more can be done to improve the overall gender imbalance

 

Gaming Americas: Since joining the industry in 2018, have you noticed a change in how women are represented within iGaming companies, as well as general attitudes?

Holly Fairweather (HF): When I reflect on the past six years, it feels great to say I have seen a lot of positive changes in our industry and more importantly, an ever-increasing drive to address gender diversity. There is still work to do, and I am reminded of this attending our industry events, where it’s very evident we still lack female presence in C-level roles and on expert panels. It’s also not hard to see walking around conferences the overall gender imbalance that exists. With that being said, I do feel it’s moving in the right direction and I am regularly inspired by women around me being promoted to senior management roles, providing great mentors and role models. Awareness of gender diversity and celebrating success is continually being pushed via various channels, and for me plays a big part in why we are seeing more women have the confidence to progress in their careers and more women enter the industry. It’s also important to say, and why I think change is happening more, that the want of women to succeed and to increase female presence in our industry, is indeed backed by a strong support network of women supporting women, but also of the men in our industry.

 

Gaming Americas: How important are groups like Global Gaming Women? What kind of initiatives have they offered to help your own career development?

HF: I’ll be honest, I’m still learning about all that Global Gaming Women offers. Working in the US market I see GGW as a substantial network which offers reams of support from training courses, lean in circles and mentorship and networking events just to name a few. I have taken part in a few of the industry wide networking events, and really enjoyed them, connecting with some amazing people, learning more about the industry. One of my objectives this year is to participate in more events, adding value where I can whether that’s within the GGW network or through other avenues.

 

Gaming Americas: What more can the industry do to make it more appealing to women and ensure they are better represented within organizations?

HF: It’s got to start within each individual company taking responsibility for equal representation. This is not a tick box exercise to achieve a target on a gender split % by x date but must be about promotions and roles being rewarded to the best candidate for the role, regardless of gender, ethnic background, or sexual orientation. We need to shout about the success stories of DEI within the industry, creating an inclusive work environment will attract not just more women but more candidates overall, increasing the talent pool.

There is also a piece around exposure and shining the light on the fantastic women we have leading the way. Sharing their career paths, the good, and the challenges, to provide relatable examples of success. To make women in gaming not about the stats or portray the headline as a negative but more around showcasing the women that are successful and why, helping more women relate and pursue a similar path if this is what they wish to do.

 

Gaming Americas: What advice would you give to the next generation of women that are looking to make a breakthrough in the industry?

HF: This is a good one! First and foremost, you lead your own progression. Be proactive in building your network, push yourself out of your comfort zone to attend networking events. Reach out to other women in the industry for support and mentorship. That is on you to drive.

Immerse yourself in a team with values that align with yours, a team that welcomes and promotes diversity of all types and supports and rewards on merit are key.

Build your knowledge, for me knowledge is confidence. Quickly realise it is ok not to know everything, ask the questions and find out. Be solution-oriented, supporting your superiors will get you noticed for going over and above and adding value to your team and company.

I was told ‘people do business with people,’ which I stand by and could not be truer in the igaming industry. Always treat everyone with respect, be kind, be yourself, but don’t forget to back yourself! Relationship building is so key in this industry and has helped me progress to where I am today.

Lastly, take risks. And by this, I mean sometimes you must step out your comfort zone and push yourself to try something different to progress to the next stage. So far, the most pivotable moment in my career and biggest risk I have taken, and I’m sure Andy Whitworth (CEO) and the White Hat Studios (WHS) team won’t mind me saying, was accepting the job at WHS. A brand-new supplier to the US, no content live alongside the fact I had never worked in the US market, so of course there was an element of risk. It was, however, a calculated risk as I was joining a team of experts, senior level management I had worked for previously, in an ever-growing US market. A no brainer now when I look back.

 

Gaming Americas: From a White Hat Studios perspective, what DEI initiatives does the company put in place?

HF: DEI of all types is something I believe increases the performance of a team, and is something we are extremely passionate about at WHS. As we grow and expand, maintaining a strong culture has never been more important. We recently held a WHS workshop in Prague, with one section of our day spent holistically agreeing and locking down our values as a team, ‘Who we are, what we stand for ‘and ‘treating everyone equally’ is now embedded in our company culture as one of our five core values.

I have been lucky in the fact I have never felt that my gender has held me back in my current role and previous igaming companies. Although I understand this has not been everyone’s experience, I truly believe the more we celebrate success, drive awareness, embed inclusion within our companies, and work together across DEI as a whole, we will continue to see women progress and take on careers in igaming.

 

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Lottery.com Inc. Relaunches Sweepstakes Operations

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Lottery.com Inc. announced the restart of its sweepstakes operations in conjunction with the WinTogether Trust, a registered 501(c)3 charitable organization. The proceeds from the sweepstakes will benefit Street Child United. The sweepstakes had a soft launch on April 3, 2024, and is available at http://donateto.win, the successor to Lottery.com’s WinTogether.org platform.

Street Child United is a global organization dedicated to improving the lives of street-connected children. The organization focuses on four key pillars: Ensuring every child has birth registration which provides access to healthcare and education; protecting children against abuse, exploitation, and trafficking; securing access to education; and setting a foundation for gender equality.

Donors are incentivized to give by receiving entries to win an Apple Vision Pro mixed reality headset. More information and donation options can be found at https://donateto.win. The sweepstakes to support Street Child United will continue until 11:59PT on August 31, 2024. The winner will be announced on or around September 20, 2024.

Matthew McGahan, CEO of Lottery.com, said: “This is a significant milestone for Lottery.com. The Company, through its partnership with the WinTogether Trust, is resuming its commitment to supporting philanthropic initiatives that focus on responsible gaming along with local, regional, and global charitable initiatives. Street Child United is a wonderful organization. We believe their mission will resonate with the Sports.com’s growing global user base.”

Bart Myers, Director of the WinTogether Trust, said: “The WinTogether Trust board is excited for our organization to play a role in the resurgence of Lottery.com. Being able to leverage their powerful brands, Lottery.com and Sports.com, will allow us to exponentially expand the number of organizations we support and the financial impact our sweepstakes make for them.”

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Gambling in the USA

Colorado Launches Illegal Gambling Awareness Campaign

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The Colorado Division of Gambling has launched a new illegal gambling awareness campaign.

The “Play Legit. Gamble Only Where Legal.” campaign aims to educate the public about the risks associated with illegal gambling and the importance of supporting regulated gaming venues.

The campaign emphasizes legal gambling options, including casinos in Black Hawk, Central City, and Cripple Creek, as well as online sports betting and off-track betting.

“With many certified and legal gambling sites available, it’s never worth it to put yourself in danger. Together, let’s play by the rules and ensure that Colorado remains a safe and responsible gaming destination. By recognizing and preventing illegal gambling, we all win,” Chris Schroder, Director of the Colorado Division of Gaming, said.

In Colorado, gambling opportunities abound, but not all are legal. Illegal gambling operations not only fail to protect players but can also serve as a breeding ground for serious crimes, including fraud, human trafficking, drug trafficking, and burglary, posing a threat to public safety and community well-being. Participants in illegal gambling activities also compromise personal and financial information, putting individuals at risk of identity theft, unreliable payouts, and potential legal consequences, such as fines and imprisonment.

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GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

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