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Rivalry Announces Record Fourth Quarter and Year-End 2021 Results

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Rivalry to Present at A.G.P.’s Virtual Emerging Growth Technology Conference

 

  • Betting handle of $78.2 million for FY 2021 increased 202% year-over-year, with Q4 2021 betting handle of $24.9 million up 389% YoY.1
  • Revenue of $11.1 million for FY 2021 grew 617% YoY, with Q4 2021 revenue of $2.2 million up 615% YoY.
  • Preliminary Q1 2022 betting handle of $40.2 million, a record high, up 62% sequentially from Q4 2021, and 273% year-over-year.
  • Momentum being fueled by economic customer acquisition costs and robust payback periods, underpinned by innovative product and market leading brand equity.
  • $35.5 million of cash and zero debt at year-end to support continued growth in core and new markets.

Rivalry Corp., an internationally regulated sports betting and entertainment company, today announced its financial results for the three and 12-month periods ended December 31, 2021. The Company also announced preliminary results for the three-month period ended March 31, 2022. All dollar figures are quoted in Canadian dollars.

“We had a tremendous year by nearly all measures in 2021. Our team delivered triple-digit growth, secured the financial resources to accelerate our momentum, continued to strengthen our originally developed product, added significant talent depth to our bench, and further solidified Rivalry as the most engaged brand in esports betting globally,”2 said Steven Salz, Co-Founder and CEO of Rivalry. “I’m also pleased to say we have continued that pacing into 2022, with our Q1 betting handle delivering 62% sequential growth over Q4, and up 273% year-over-year.”

Full-Year 2021 Financial Highlights

  • Betting handle was $78.2 million in 2021, up 202% from $25.9 million in 2020.
  • Revenue was $11.1 million for the full year, an increase of $9.5 million or 617% from $1.5 million in 2020.
  • Gross profit was $2.2 million for the full year, an increase of $1.5 million or 217% from $0.69 million in 2020.
  • The Company’s subordinate voting shares commenced trading on the TSX Venture Exchange and the Frankfurt Stock Exchange in October 2021, followed by a listing on the OTCQX just after year-end.
  • The Company had $35.5 million of cash and no debt as at December 31, 2021.

Fourth Quarter 2021 Financial Highlights

  • Betting handle was $24.9 million in Q4 2021, up 389% from $5.1 million in Q4 2020.
  • Revenue was $2.2 million in the fourth quarter, an increase of $1.9 million or 615% from $0.3 million in Q4 2020.
  • Gross profit was $0.4 million in the fourth quarter, an increase of $0.3 million or 366% from $0.1 million in 2020.

“The growth we saw in Q4 was highly encouraging, and a signal of strength in what is typically the most seasonally quiet quarter of the year, with us delivering modest sequential growth over Q3. As our traditional sports betting product has continued to improve, we are seeing a more diverse product mix, which is helping to blunt the seasonality of esports, something that we expect to continue in the future,” said Steven Salz.

2021 Operational Highlights

  • Maintaining leadership in the rapidly growing esports segment with approximately 90% of betting handle being placed on esports events, compared to 10% on traditional sports.
  • Successfully engaging the next generation bettor, with an average customer age of 26, and 82% of lifetime customers under the age of 30.
  • Customer registrations increased to approximately 610,000 by the end of 2021, up from 350,000 one year earlier.
  • Rivalry’s partner network and owned properties reached a total of 55 million followers.
  • Pioneered a new gaming category of Massive Multiplayer Online Gambling Games (MMOGG) with the launch of proprietary title Rushlane.
  • The Company made a number of key leadership hires throughout the year across nearly all departments, materially enhancing the talent bench.

Subsequent Events

  • Momentum continued in the first quarter of 2022 with betting handle reaching a new record of $40.2 million, an increase of 273% year-over-year and up 62% sequentially from Q4 2021. The Company expects to announce complete results for Q1 2022 by the end of May.
  • On January 22, 2022, the Company’s subordinate voting shares commenced trading on the OTCQX Best Market.
  • On February 9, 2022, the Company was awarded its sports bookmaker license by the Northern Territory Racing Commission (Australia) pursuant to the Racing and Betting Act 1983 (NT), which allows the Company to legally operate throughout the whole of the country.
  • In March 2022, the Company announced the addition of mobile esports to its sportsbook, enabling customers to wager on competitive esports played on mobile devices.
  • The Company was among the first to commence operations in Ontario on April 4, 2022, the first day of regulated online gaming in the province.

Goals for 2022

  • Meaningful expansion of the Company’s traditional sports offering to support the continued interest and growth it is seeing.
  • New originally developed games to complement Rushlane and add depth to Rivalry’s massively multiplayer online gambling games category (MMOGG’s).
  • Launching a mobile app consistent with the surprise and delight the Company believes the next generation of customers are looking for.
  • A casino offering that is authentic to the Company’s demographic.
  • Launch in new geographies under its existing Isle of Man license, and new regulated licenses to provide continuous growth in users and brand reach across the globe.
  • A dynamic media strategy to continue positioning Rivalry as an industry-leading creative house operating at the forefront of internet culture.

“Our focus in 2022 is growth across product, new geographies, and an expansion of Rivalry’s creative universe to capitalize on what we believe is a generational opportunity to become the leader in betting and entertainment for the next generation. Through financially disciplined management, and executing on our targeted operational goals, we believe our positive unit economics will improve, and a path to profitability will become clear,” said Steven Salz.

Canada

Northern Super League Partners with Stats Perform

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Stats Perform, the global leader in sports AI, data and technology, has announced an official data partnership with the Northern Super League (NSL). The partnership will allow world-leading Opta data to be collected live from every NSL league game for the next three years.

Beginning this month, the Northern Super League (NSL) establishes a new era in Canadian sport as the country’s first professional domestic women’s soccer league — an ambitious and transformative initiative co-founded by former Canadian international and Olympic medallist Diana Matheson. Its inaugural season kicks off on April 16 and will feature six teams who have assembled multinational player rosters with extensive club and international experience, including 100-cap Canadian internationals Desiree Scott and Quinn.

Once the action begins, detailed data from every on-ball event, including advanced AI-powered Opta Analytics metrics such as Expected Goals (xG) and Expected Assists (xA), will be captured and distributed via feeds and Stats Perform products, including OptaAI Studio. This will enable various broadcasters, publishers and rights holders to generate stories and insights throughout the NSL season and provide them straight to the league’s fans in real time.

As part of the agreement, the NSL’s League Office and every NSL club will also have access to Opta Search, part of OptaAI Studio. This will allow their content creators to leverage all Opta data collected during the NSL season in the creation of data-led stories on the stand-out performers, and will help them generate key talking points for publication on official league and club platforms. Opta Search will also empower the NSL’s media team to create a range of data visualizations, including player shot maps and touch maps, to visually illustrate the impact of different players’ on-field performances.

Christina Litz, NSL President, said: “We are thrilled to have Stats Perform on board as our official data partner. When we talk about detailed performance data in soccer, Opta is the gold standard, so we are delighted to have it powering each of our official digital channels. As the season progresses, we want to put the spotlight on all the on-field heroes who emerge and having access to world-class data will help us tell their stories and inspire a new generation of Canadian soccer fans.”

Steve Xeller, Chief Revenue Officer at Stats Perform, said: “Stats Perform has been a huge supporter of expansion leagues around the world, so we are very pleased to be partnering with NSL in the lead-up to their first domestic campaign. Seeing a fully professional women’s soccer league launch in Canada is an incredibly exciting development for the sport in North America and we see considerable potential in working proactively with the League’s Head Office to help the competition grow, using the power of AI and data-led storytelling to build fan communities across the continent.”

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Canada

Soft2Bet’s ToonieBet Partners with the Ottawa Senators as Official Online Casino Partner

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Soft2Bet’s ToonieBet Partners with the Ottawa Senators as Official Online Casino Partner

 

With the Ottawa Senators securing a playoff spot in the NHL, ToonieBet will be there every step of the way, engaging fans with exclusive giveaways, premium entertainment, and a casino experience that mirrors the team’s energy and excitement.

The Ottawa Senators and Tooniebet, an online casino for players across Ontario, announced a partnership that will make Tooniebet the NHL team’s Official Online Casino Partner.

Tooniebet, which launched in 2024 is part of Soft2Bet – one of the world’s fastest growing iGaming turnkey solutions providers with iGaming brands around the world with a portfolio of 19 global licenses, including Ontario.

Additional highlights of the Ottawa Senators and TonnieBet partnership will include:

  • In-Arena & Broadcast Branding: Digitally enhanced dashboards for home and away games
  • In-rink board signage for home games
  • Virtual slot signage for various games
  • Digital inventory throughout the Ottawa Senators site on NHL.com
  • Direct Fan Engagement: Social contests and promotions hosted on Senators’ digital platforms
  • Television Broadcast Branding: Digitally enhanced rink boards for home and away games
  • In-arena rink board signage for home games

Martin Ballard, VP Corporate Partnerships, Ottawa Senators stated: “We are thrilled to welcome ToonieBet as an official partner of the Ottawa Senators. Cooperating with a brand that shares our commitment to providing fans with an exceptional and trusted experience is incredibly exciting. Together, we look forward to delivering memorable moments and engaging our passionate fanbase in new and innovative ways.”

Oksana Tsyhankova, Chief Marketing Officer at Soft2Bet, commented: “Partnering Soft2Bet’s ToonieBet brand with the Ottawa Senators is a significant milestone that reinforces our strong brand presence in Ontario. In a short period, we have achieved impressive performance and retention results, with a primary focus on localised, engaging experiences for Canadian players, which makes ToonieBet truly set itself apart.”

By tapping into the Senators’ digital platforms and in-arena presence, ToonieBet will stay close to the action and connect with fans in real, engaging ways while continuing to offer a top-quality online casino experience.

ToonieBet offers a fast, localised online casino experience for players in Ottawa and across Ontario.  Through this partnership, fans will have the chance to win Senators merchandise and tickets while ToonieBet grows its presence in a competitive Ontario market. With in-arena branding, regional broadcast coverage, and digital promotions, ToonieBet will be highly visible to the team’s loyal supporters.

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Canada

PENN Entertainment Launches Stand-alone iCasino App, theScore Casino, in Ontario

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PENN Entertainment announced that it has launched theScore Casino, a new stand-alone iCasino app in Ontario. The dedicated online casino experience leverages the popular theScore brand, which has been a mainstay in the Ontario market for decades. Now available on Android, iOS, and desktop, customers can login using their existing theScore Bet credentials, allowing for a seamless experience across online gaming platforms.

theScore Casino operates on the same cutting-edge proprietary technology platform as PENN’s online Hollywood Casino, which launched as a standalone product in the US in December. The product was recently ranked by Eilers & Krejcik as the #2 overall iCasino product in the US.

theScore Casino, also available within theScore Bet app, offers a variety of online slots, table games, and live dealer content, including original titles from PENN Game Studios, the company’s in-house game development studio. theScore Casino also includes bespoke live dealer tables and exclusive games such as Blue Jays Blackjack, an original title leveraging theScore Bet’s partnership with the Toronto Blue Jays.

“We’re excited to introduce our dedicated iCasino product in Ontario under the well-known and trusted theScore brand. We’ve built a strong online gaming foothold in the Ontario market and are primed to deliver an even better casino experience with our proven stand-alone app. Our customer-friendly platform features more than 1200 games, dozens of original titles and intuitive game play that distinguishes our product and positions us for even greater success,” said Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment.

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