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THE OPEN CHAMPIONSHIP RETURNS TO THE OLD COURSE AT ST ANDREWS FOR THE 150TH EDITION

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THE OPEN CHAMPIONSHIP RETURNS TO THE OLD COURSE AT ST ANDREWS FOR THE 150TH EDITION

 

Rory McIlroy is installed as the favorite to win the final major of 2022 and the last
top field golf may see for the foreseeable future, according to TheLines.com

After top-10 finishes in the first three majors of 2022, Rory McIlroy has
claimed favorite status heading into the 150th U.S. Open, being played at the
birthplace of golf, the Old Course in St. Andrews, Scotland, according to TheLines,
which tracks odds in the U.S. regulated sports betting market.

A consensus of the nation’s largest legal online sportsbooks — including DraftKings,
FanDuel, and BetMGM — places McIlroy at +1000 to win the Open Championship
outright, meaning bettors would win $1,000 for every $100 wagered. Xander
Schauffele, who won last week at the Scottish Open and who is looking for that
elusive first major, is next on the favorites list at a consensus +1400. World No. 1-
ranked player Scottie Scheffler is part of a trio at +1600 to open the week along with
Jon Rahm and Jordan Spieth. U.S. Open champion Matthew Fitzpatrick is next at
+1800 with PGA Champion Justin Thomas at +2000.

McIlroy, the 33-year-old Northern Irishman, is looking for his fifth career major title
and his first since 2014. His game is in strong form, with top-10 finishes in each major
this year and a win at the RBC Canadian Open last month.

This is the 29th time the Open has been contested at the Old Course. Past winners at
this course in the field this week includes John Daly, Zach Johnson, Louis Oosthuizen
and, of course, Tiger Woods, who won here in 2000 and 2005.

Woods skipped last month’s U.S. Open to give his body a chance to recuperate ahead
of the Open Championship. The aging superstar is 17 months removed from a car
accident that caused multiple leg injuries. He is listed at a consensus +6500 to open
the week.

The Old Course features wide fairways, a number of large double-greens and 14 par-4s
on the 7,305-yard out-and-back track. Firm conditions should lead to the course
playing much shorter than the listed yardage in calm conditions. But weather is the
great equalizer and winds and rains are possible later in the week.

“This is one of the strongest fields we’ve seen with 50 of the top 51 players set to tee
it up this week,” said Brett Collson, lead analyst at TheLines.com. “With a strong
field and a course that could be carved up by longer players if the weather stays
down, bettors will keep a sharp eye on how the forecast develops over the week.”

This may be the last top field professional golf will see for sometime. Players on the
LIV Golf, the Saudi Arabian-backed breakaway tour that has dominated headlines this
year can no longer accrue Official World Golf Ranking points outside of the major
tournaments. That makes it fair to consider that this might be the last major
championship that includes such a deep list of the best golfers in the world.

Consensus odds for the 10 favorites ahead of this year’s British Open, as of Monday,
June 11:
● Rory McIlroy (+1000)
● Xander Schauffele (+1400)
● Jon Rahm (+1600)
● Scottie Scheffler (+1600)

● Jordan Spieth (+1600)
● Matthew Fitzpatrick (+1800)
● Justin Thomas (+2000)
● Shane Lowry (+2200)
● Cameron Smith (+2600)
● Patrick Cantlay (+2200)

Gambling in the USA

Hacksaw Gaming Debuts DraftKings Partnership in New Jersey

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The launch celebrates another North American venture with DraftKings this quarter.

Hacksaw Gaming established its business relationship with DraftKings this time last year. The pair have embarked on a North American takeover since, having successfully set the collaboration in motion in West Virginia after receiving full regulatory approval in June. The studio has already set eager sights on Pennsylvania as another future target.

Gripping the charts as renowned industry lead in the US, DraftKings has rolled out Hacksaw’s classic slots, Chaos Crew and OmNom, alongside fan-favourite Dare2Win games Mines and Boxes. The games have received a warm welcome in the online casino lobby following a fruitful agreement to brand Hacksaw’s first 10 games with exclusivity in the market for the next 2 weeks.

“Having secured such a significant presence in the US in 2023 is something we are incredibly proud of,” said Marcus Cordes, CEO of Hacksaw Gaming, “our hard work takes form in our ever-increasing footprint”.

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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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partnerships

SPORTSNET PARTNERS WITH SPORTRADAR TO PROVIDE DATA-RICH CONTENT TO THE CANADIAN MARKET

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SPORTSNET PARTNERS WITH SPORTRADAR TO PROVIDE DATA-RICH CONTENT TO THE CANADIAN MARKET

 

Following a competitive tender process, Sportsnet, Canada’s #1 sports network, has selected Sportradar to deliver innovative, data-driven content that creates a more immersive experience for sports fans in the North American region.

Viewers can anticipate the seamless inclusion of real-time statistics, player information and advanced data sets into Sportsnet broadcasts, all made possible through Sportradar’s OnAir service. Additional access to both statistical experts and radar360, Sportradar’s web-based research application, will elevate Sportsnet’s real-time storytelling capabilities. This support includes the integration of enhanced digital graphics and in-depth research to bolster Sportsnet’s MLB and NHL broadcasts.

“We are proud to partner with Sportsnet, a market leader, who is committed to entertaining and informing Canadian sports fans,” said Brian Josephs, Head of Regional Sales, North America, at Sportradar. “This collaboration showcases Sportradar’s expertise in enhancing sports content through data and technology. Together, we will bring fans closer to the action, providing them a unique, more engaging viewing experience.”

Sportradar’s comprehensive support will apply to Sportsnet’s entire brand portfolio, which includes their regional channels, East, Ontario, West, and Pacific, as well as Sportsnet ONE, Sportsnet 360, Sportsnet World, Sportsnet+, the Sportsnet Radio Network, Sportsnet.ca, the Sportsnet app and podcasts.

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