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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.

________________________
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.

Gambling in the USA

Chris Barranco Joins Quick Custom Intelligence as Director of Business Development

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Quick Custom Intelligence (QCI), a leading provider of AI-driven analytics and enterprise solutions for the gaming and hospitality industry, today announced the addition of Chris Barranco as Director of Business Development.

Barranco brings 25 years of experience leading high-performing teams, driving revenue, and building durable client relationships. He is adept at solution-selling methodology and full sales-cycle management, with a proven track record of mentoring top-tier account executives, delivering high-impact presentations, and retaining key accounts. Known for a tenacious approach to new-business development and customer loyalty, Barranco will focus on expanding QCI’s market footprint, strengthening the partner ecosystem, and advancing go-to-market execution across QCI’s product portfolio.

“I’m excited to join the clear market leader and work with the exceptional team at QCI,” said Chris Barranco, Director of Business Development at QCI. “QCI’s commitment to turning data into action aligns perfectly with my approach to helping customers achieve measurable revenue impact. I look forward to working closely with our clients and partners to accelerate growth and deliver exceptional outcomes.”

We’re delighted to welcome an industry veteran of Chris’s caliber to the QCI team,said Andrew Cardno, CTO and Co-Founder of QCI. “His leadership, mastery of solution selling, and passion for customer success will further strengthen our ability to scale, deepen client relationships, and deliver the operational results our customers expect.”

As Director of Business Development, Barranco will lead initiatives to expand QCI’s presence across key markets, refine sales enablement programs, and collaborate with product and customer success teams to ensure a seamless path from discovery to measurable value realization.

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WSOP® PARADISE 2025 REVEALS FULL TOURNAMENT SCHEDULE WITH NEW EARLY-BIRD PACKAGES

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The record-breaking poker festival in the Bahamas adds fresh events and exclusive perks for players booking early 

The World Series of Poker (WSOP®) today unveiled the complete schedule for the highly anticipated WSOP Paradise 2025, which will take place at Atlantis Paradise Island in the Bahamas from Dec. 4 through Dec. 18. This announcement also introduces two new, limited-availability early-bird packages, designed to provide players with unmatched value and exclusive benefits.

This year’s festival expands on its commitment to high-stakes action with a full slate of 15 WSOP gold bracelet events:

Event

Date

Buy-In

#1 Circuit Championship Mystery Bounty NLH – $5M GTD

Dec. 4

$2.5K

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#2 Triton PLO 6-Handed

Dec. 4

$75K

#3 Triton PLO Main Event

Dec. 5

$100K

#4 High Roller Turbo NLH

Dec. 6

$50K

#5 Triton Invitational – NLH

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Dec. 7

$250K

#6 Super COLOSSUS NLH

Dec. 7

$5K

#7 Super PLOSSUS PLO

Dec. 8

$10K

#8 Triton NLH 7-Handed

Dec. 8

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$125K

#9 Triton NLH Main Event

Dec. 9

$100K

#10 Triton NLH 8-Handed

Dec. 10

$150K

#11 Super Main Event NLH – $60M GTD

Dec. 10

$25K

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#12 8-Game Mix 6-Handed

Dec. 11

$10K

#13 High Roller PLO

Dec. 13

$50K

#14 GGMillion$ NLH – $10M GTD

Dec. 15

$25K

#15 The Closer NLH Turbo Bounty

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Dec. 16

$10K

This year’s WSOP Paradise features an expanded partnership with Triton Poker, the leading high-stakes tournament operator. In 2024, two gold bracelet events were curated by Triton; the number increases to six in 2025, with WSOP bracelets going to the winners of Event #2 Triton PLO, Event #3 Triton PLO Main Event, Event #5 Triton NLH Invitational, Event #8 Triton NLH 7-Handed, Event #9 Triton NLH Main Event and Event #10 Triton NLH 8-Handed.

To reward early registrants, WSOP is introducing two new early-bird packages for players looking to secure their seats, with both offering massive added value:

  • The $100K Paradise Package – limited to just 500 packages, includes a 13-night stay (Dec. 5 to Dec. 18), complimentary access to the WSOP buffet and a $500 food & beverage room credit. The deposit to secure is $10,000.

  • The $300K VIP Package – includes a 15 night stay (Dec. 3 to Dec. 18), complimentary access to the WSOP buffet, a $1,000 food & beverage room credit plus one á la carte meal from the Triton menu per day. The deposit to secure is $15,000.

For the first time at WSOP Paradise, resort fees are included in the package price, and the room credit is also provided for use throughout the resort. The full package amount must be played in WSOP Paradise events.

GGPoker will once again serve as the exclusive international satellite partner, aiming to send more than 1,000 players to the Super Main Event. WSOP Express and Road to Paradise qualifier tournaments are already underway in the GGPoker tournament lobby. Additionally, over 500 players are expected to qualify for the Circuit Championship through WSOP Circuit gold ring events (running from Jul. 1 through Dec. 2, 2025, both live and online), and ClubGG plans to send more than 400 players to the same event.

In an exciting new partnership, PokerStake will cover up to 50% of the unsold action for Circuit Package winners who choose to list their Super Main Event action on the platform.

“I said last year that a $50M guarantee was crazy, but adding another $10,000,000 on top is absolutely insane! The WSOP is bringing the biggest high rollers and the best poker experience possible back to paradise,” said Daniel Negreanu, GGPoker Global Ambassador. “With the new Super Mystery Bounty event and the expanded partnership with Triton, this is a can’t-miss festival for players of all levels. I can’t wait to be a part of it.”

“With the WSOP Paradise at Atlantis Paradise Island tournament schedule now set, the countdown to The Bahamas IS ON! This year’s lineup delivers an unbeatable mix of world-class events, record-breaking guarantees, and unforgettable poker moments in one of the most iconic destinations on the planet. From seasoned pros to newcomers, players from around the globe will find their place in paradise, and their shot at history,” added Joe Brunini, Chief Gaming & Customer Development Officer, Atlantis Paradise Island.

WSOP Paradise 2025 will feature a daily live stream from Dec. 12 through Dec. 18 on the WSOP YouTube channel, with CBS Sports Network television coverage planned for distribution in early 2026.

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Further details on event structures and schedules will be available on the WSOP+ app. The WSOP reserves the right to cancel, change, or modify the tournament or any tournament event, in part or in whole, without notice. Entry fees will be added to all events, and up to 3% of tournament buy-ins will be withheld for staff and operational costs. Guaranteed events are paid out after deducting the percentage for costs from the total prize pool.

Please follow @WSOP on X (formerly Twitter) and Instagram or check WSOP.com for more event news and updates: wsop.com/news/2025-wsop-paradise.

For more information on WSOP Express, please visit: ggpoker.com/tournaments/wsop-express/.

To book your Atlantis stay at exclusive WSOP rates starting from $199 per night, please visit: atlantisbahamas.com/wsop-in-paradise

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eSports

Fighting Game GOAT Justin Wong Joins BASILISK, Science’s Esports Team

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BASILISK, the global esports organization built to champion science, announced the signing of legendary fighting game competitor Justin ‘Jwong’ Wong as captain of its newly formed Fighting Game Community (FGC) Division. Wong will lead BASILISK’s entry into the FGC by recruiting players, developing community events, and creating FGC – science crossover content.

“Justin isn’t just a competitive genius – he is a cultural icon and humble leader within the FGC. We are incredibly proud to have him leading our FGC division and support the amazing work he already does for the community,” said BASILISK co-founder Christopher Bothur.

A nine-time Evolution Championship Series (Evo) Champion and Guinness World Record holder, Wong brings unparalleled FGC credibility and expertise to BASILISK. His reach extends across the entire FGC fandom of millions, and he was immortalized in Evo Moment #37 which has over 100 million views.

As Captain of BASILISK FGC, Wong will leverage BASILISK’s data analytics to scout and train the next generation of FGC pros.

“Math is super important to fighting games. I’m excited to join science’s esports team. I’m passionate about finding promising players with a positive mentality and shaping them into the next big thing. I want to see somebody else in the spotlight after me and help them reach their potential. If we can discover the next world champion, that would be fantastic,” said Wong upon joining BASILISK.

The signing comes on the heels of BASILISK’s new partnerships with The Planetary Society and Caltech’s Institute for Quantum Information and Matter (IQIM), announced in July. These collaborations create a powerful bridge between renowned scientific institutions and gamers, which Wong will amplify to his millions of followers and fans.

“Justin is a dream addition to our organization. He exemplifies the dedication and analytical capacity required to be an esports champion or great scientist,” added BASILISK co-founder Hans Kassier.

Wong becomes the second “GOAT” (Greatest of All Time) to join BASILISK, alongside Finnish StarCraft 2 legend Joona “Serral” Sotala, who just captured the SC2 Esports World Cup Championship in July 2025. The signing also creates opportunities for cross-over content with BASILISK’s diverse roster, including chess Grandmaster Vincent Keymer and award-winning science communicator Kyle Hill, who brings over 2.5 million followers and a vast network of science enthusiasts to the organization.

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