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Rivalry Announces Record Second Quarter 2022 Results

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports betting and entertainment company, today announced its financial results for the three and six-month periods ended June 30, 2022. All dollar figures are quoted in Canadian dollars.

“We are very encouraged by our performance in Q2, putting up significant year-over-year growth across all core metrics, and sequential growth on a number as well, despite what is a seasonally quiet quarter in the esports calendar,” said Steven Salz, Co-Founder and CEO of Rivalry. “And thus far, our momentum in the third quarter is continuing this growth trajectory, including hitting another all-time record for betting handle in a single month, delivering $23.4 million in July. With a number of impactful product releases, marketing, and operational initiatives slated through the rest of year, we are hungry to demonstrate to the market the inherent operating leverage in our model.”

Second Quarter 2022 Highlights

  • Betting handle1 was $38.4 million in Q2 2022, a year-over-year increase of 98% compared to $19.4 million in Q2 2021, and down 4% sequentially from the record high of $40.2 million in Q1 2022, as Q2 is a seasonally slower quarter.
  • Revenue was a record $5.3 million in the second quarter, a year-over-year increase of 60% from $3.3 million in Q2 2021, and represented the Company’s highest-ever revenue in any quarter. Revenue was up 11% sequentially from $4.8 million in Q1 2022.
  • Gross profit was a record $2.1 million in the second quarter, a year-over-year increase of $1.4 million or 206% from $0.7 million in Q2 2021, and up 201% sequentially from $0.7 million in Q1 2022.
  • The Company had $27.8 million of cash and no debt as at June 30, 2022.2
  • The Company commenced gaming operations in Ontario on April 4, 2022, the first day of regulated online gaming in the province.
  • The Company announced the launch of gaming operations in Australia on May 9, 2022.

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2
Includes cash and cash equivalents of $24.1 million and restricted cash of $3.7 million.

“The strength in the business in the second quarter was all achieved organically and driven by our existing core markets. Launching in our first two regulated markets was a very important milestone in Q2 that will help drive growth in the coming quarters as we establish our brand with consumers, deploying our ‘crawl, walk, run’ strategy that prioritizes operating with sustainable unit economics in new markets first, and scaling spend thereafter,” Salz added. “We were very encouraged with our Q2 performance considering that we did not see a material contribution from either of these markets yet, and during what is already a seasonally quiet quarter. On the other side we were proud to demonstrate the profitability potential of our current betting handle, posting record gross profit during the quarter.”

“Looking ahead, we are excited about the second half of the year,” Salz added. “The traditionally strong third quarter is tracking well for us. Several important platform enhancements in areas like mobile app, traditional sports offering, and our casino vertical are set to be launched in the coming months.”

Investor Conference Call

Management will host a conference call at 10:00 a.m. EDT on Thursday, August 25, 2022 to discuss the Company’s second quarter 2022 financial results.

Dial-in: 888-396-8049 (toll free) or (+1) 416-764-8646 (local or international calls)
Webcast: A live webcast can be accessed from the Events section of the Company’s website at www.rivalrycorp.com or at this link.
A replay of the webcast will be archived on the Company’s website for one year.

Rivalry’s financial statements and management discussion and analysis for the period ended June 30, 2022 are available on SEDAR at www.sedar.com, and on the Company’s website at www.rivalrycorp.com.

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BMM INNOVATION GROUP TO SHOWCASE ITS WORLD-LEADING TESTING SERVICES FOR BRAZIL’S FAST-GROWING GAMING MARKET AT BIS SIGMA AMERICAS SUMMIT APRIL 7–10

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Company to share expert insights and highlight its fast-track product certification and lottery support at São Paulo, Brazil show

BMM Innovation Group (“BMM,” “BIG Group,” or “BIG”), a technology conglomerate focused on product compliance testing, cybersecurity solutions, and virtual training for the global gaming industry, will exhibit at BiS SiGMA Americas April 7-10 at the Transamerica Expo Center in São Paulo, Brazil in Stand No. F133.

As Brazil’s gaming landscape undergoes a significant transformation under new federal regulations, BMM is heavily partnered with operators, suppliers, and regulators through this transition. With its three expert divisions – BMM Testlabs, BIG Cyber, and RG24seven Virtual Training – the BIG Group brings unmatched expertise in product testing, cybersecurity, and responsible gaming education, all vital for success in the dynamic Brazilian market.

At the show, BMM will highlight its fast-track product testing and certification process, developed specifically to address Brazil’s recertification requirements for B2B and B2C operators. This streamlined service ensures that gaming companies meet all regulatory standards while maintaining their operating licenses with minimal disruption.

BMM Testlabs’ Marzia Turrini, President of iGaming & Cybersecurity, said, “BMM is committed to guiding customers through the certification process with speed, precision, and expert support. Our goal is to reduce regulatory risks and accelerate time to market in Brazil’s evolving regulatory environment.”

At BiS SiGMA, BMM will highlight its support for Brazil’s expanding state lottery market, working closely with operators to support multi-jurisdictional entry and growth. BMM’s lottery and iLottery testing services help ensure full compliance while enabling faster, broader market access.

Visitors to BMM Innovation Group’s stand at BiS SiGMA Americas will gain insights into the Company’s full suite of services for cybersecurity and defense, as well as responsible gaming, including:

  • Vulnerability assessments, penetration tests, PCI:DSS evaluations, and a suite of managed security services featuring CYREBRO’s Security Operations Center, KnowBe4’s security awareness training, and Maxxsure’s risk management platform.
  • RG24seven Virtual Training, offering expert-led education on responsible gaming, anti-money laundering, and many other important topics, available in Portuguese, Spanish, and English for gaming professionals worldwide.

Turrini added, “BMM is more than just a test lab. We are a long-term strategic partner, helping shape a secure, responsible, and compliant gaming industry in Brazil and globally.”

BMM invites all BiS SiGMA attendees to stop by Stand No. F133 and discover how the Company drives innovation, reliability, and trust across Brazil’s regulated gaming industry. For more information on BMM’s Brazil support, visit the BMM Brazil Hub at brazil.bmm.com/.

 

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No fooling! The All-Inclusive Hotel Room Package is back for summer stays at the Plaza Hotel & Casino

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Tomorrow might be April Fool’s Day but this is no joke, the Plaza Hotel & Casino is bringing back Las Vegas’ only all-inclusive hotel room package starting at $125 per person per night.

The Plaza introduced its all-inclusive hotel room package last summer. It was so well received by guests that the iconic downtown Las Vegas property is bringing it back and extending it for all of June, July and August.

“At a time when tourists are concerned about increasing costs in Las Vegas, including resort fees and paying to park, we wanted to give our guests a more affordable summer vacation option by again offering our all-inclusive hotel room package,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino.

The Plaza’ all-inclusive hotel room package waives all resort fees, but guests will still have free access to the fitness center, self-parking, and rooftop pool. It also includes bottomless drinks from the Omaha Bar and Sports Book Bar on the casino floor as well as breakfast and dinner from various dining outlets, and more.

The Plaza’s all-inclusive hotel room package is available for booking beginning today. Rooms must be booked online by Aug. 29 for a stay June 1 through Aug. 30.

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Jogo da Zebra: The Most Thrilling Version of the Classic Minesweeper Arrives from Vibra Gaming

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Jogo da Zebra: The Most Thrilling Version of the Classic Minesweeper Arrives from Vibra Gaming

 

Vibra Gaming, the leading game and platform developer in the LatAm market, unveils its latest and most exciting release: Jogo da Zebra, a high-adrenaline experience where every click can multiply your winnings. Designed especially for the Brazilian audience, this game reimagines the classic Minesweeper with visuals and gameplay that resonate with local culture.

The game unfolds on a 5×5 grid with 25 hidden tiles. Players can choose how much to bet and how many zebras will appear on the board, directly influencing the level of risk and potential rewards.

To win, players click on the tiles to reveal golden squares, increasing their bet multiplier. At any moment, they can cash out and secure their winnings before encountering a zebra.

The game also incorporates innovative mechanics to enhance the excitement. By selecting the number of hidden zebras on the board (from 1 to 20), players can adjust the difficulty and raise the prize multiplier as they progress. Additionally, if a zebra is revealed followed by a heart, the game grants an extra life, allowing the player to continue without ending the round. This unique feature adds a new layer of thrill and strategy, as only one extra life can be earned per game.

Jogo da Zebra also includes a Turbo Button, which speeds up tile reveals for a more dynamic gaming experience. A Cash Out button allows players to stop and collect their winnings before risking another click.

Ramiro Atucha, CEO of Vibra Gaming, commented: Jogo da Zebra combines the nostalgia of a classic with captivating gameplay and big rewards. It’s the perfect game for thrill-seekers who enjoy risk, where every click can make a difference in winning big. We developed it with the Brazilian audience in mind, incorporating a local theme that connects with their culture and gaming preferences.”

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