Canada
Rivalry Reports Preliminary Fourth Quarter and Year-End 2023 Results

- Betting handle of $423.2 million in FY 20231 increased 82% year-over-year, while reducing marketing spend 15%.
- Revenue of $35.7 million in FY 2023 increased 34%.
- Gross profit of $16.2 million in FY 2023, up 66% year-over-year.
- FY23 sets all-time records for average handle per customer, up nearly 30% year-over-year, average revenue per customer up 38% year-over-year, and record low cost of customer acquisition, down 15% year-over-year.
- Total player registrations eclipsed 2 million in FY23 while extending Gen Z market leadership.
- FY24 off to a strong start as the capital raised late Q4 is being effectively deployed â delivering strong KPIs, supported by betting margin trending toward a more than 20% increase over the average of FY23.
- To meet growing consumer demand the Company is adding greater support for cryptocurrency and exploring implementation of adjacent crypto-enabled technologies.
- Rivalry is seeing a rise in demand to license its in-house casino games, accelerating the advancement of its B2B vertical.
- Company re-affirms guidance, anticipates achieving profitability in H1 2024.
Rivalry Corp. (the âCompanyâ or âRivalryâ) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, today announced preliminary and unaudited financial results for the three and 12-month periods ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
âRivalry exited 2023 as an increasingly diversified company â both geographically and across our product suite,â said Steven Salz, Co-Founder and CEO of Rivalry. âLast year we gained meaningful traction in new segments such as traditional sports, casino, and fantasy, which is widening our opportunity set and positioning us for sustainable growth in the medium- to long-term. Weâre happy to have finished the year with all-time high customer economics, diversified revenue streams, and a reinforced competitive moat around Gen Z betting entertainment and experiences.â
âDuring Q1 we have been strategically deploying capital from our fourth quarter investment in areas that are driving customer acquisition and revenue â such as amplifying proven marketing strategies, releasing higher margin products, and developing proprietary betting experiences â that we expect will begin materializing in our results throughout the first half of 2024 and beyond,â added Salz.
âOur operational excellence across product and brand marketing last year are seen across positive KPI trends and continued year-over-year growth. Ultimately, we are proving that we can acquire and retain a coveted Gen Z demographic through an entertainment-led product set, culturally relevant brand, and a team unafraid of pushing past a long-standing industry status quo.â
Preliminary Full-Year 2023 Highlights2
- Betting handle was $423.2 million in the year ended December 31, 2023, an increase of $190.4 million or 82% from $232.8 million in 2022.
- Revenue was $35.7 million in 2023, an increase of $9.0 million or 34% compared to $26.6 million in the previous year.
- Gross profit was $16.2 million in 2023, an increase of $6.4 million or 66% from $9.8 million of gross profit in 2022.
- The Casino segment was a significant driver of growth in 2023, with revenues of $6.4 million up 92% from 2022, and representing 52% of betting handle in the year.
- The Company expanded its casino offering significantly during 2023, including the release of a new original game Cash & Dash in September, entry into the slots category in October, and the launch of its iOS mobile app in Ontario, enhancing the mobile casino experience and its accessibility.
- Diversified revenue streams through new segments including traditional sports, which has grown by 60% since FY22, and fantasy, highlighting the elasticity of Rivalryâs brand among Gen Z and broadening TAM.
- Total operating expenses of $38.9 million in 2023 decreased by $1.0 million year-over-year. The decrease was driven by a reduction in marketing expense, offsetting increases in general & administration and technology & content expense incurred to support the growth of the business.
- Net loss was $24.3 million for 2023, a reduction of 22% or $6.9 million from the net loss of $31.1 million in 2022.
Fourth Quarter 2023 Highlights
- Betting handle for the three-month period ended December 31, 2023 was $85.2 million, an increase of $1.2 million or 1.5% from $83.9 million in the fourth quarter of 2022 while marketing spend decreased by 32%.
- Revenue was $6.5 million in the Q4 2023, representing a decrease of $3.0 million or 32% from $9.4 million of revenue in Q4 2022 due to less favorable sportsbook outcomes compared against an abnormally favorable result experienced in Q4 2022. The Company notes that revenue as a percentage of betting handle was near the average achieved throughout FY23, highlighting the abnormally favorable margin outcome in the comparable quarter, Q4 2022.
- Gross profit was $3.0 million in Q4 2023, a decrease of $2.0 million or 40% from $5.0 million of gross profit in Q4 2022. The year-over-year decline follows the relative margin impact noted previously. Gross profit as a percentage of betting handle in Q4 2023 was equal to the average in FY23. Rivalry is also pleased to note that its ongoing efforts to stabilize and improve margin are yielding results, with Q1 2024 trending toward a more than 20% improvement over the average in FY23.
- Net loss was $9.0 million in Q4 2023, a reduction of $3.3 million compared to a net loss of $12.3 million in Q4 2022. Net loss adjusting for accruals, other non-cash items, and one-time expenses, would have been approximately $7.0 million.
- On November 15, 2023, Rivalry 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.
- Released Rivalry Ultimate Fan, a free-to-play NBA fantasy app, to acquire new users and engage existing customers within the product suite.
- First-party game âCash & Dashâ released in September demonstrated next generation appeal as it became the fifth most-played casino game on our platform and among the top ten highest-grossing by revenue with momentum carrying into Q1, creating downstream licensing opportunities for Rivalryâs IP.
Outlook
âThe year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024,â Salz added. âIn addition to the strength of our core roadmap, we are in the process of unlocking what we believe to be two of the most material developments to our business model since launching Rivalry in 2018. The first is a B2B vertical to license our in-house developed games, and the second is exploration and development within the crypto ecosystem â each representing an impactful growth catalyst on our path to profitability this year.â
“I have never had more confidence in our product roadmap and what Rivalry is building this year. Apart from new products, original games, and proprietary features, we have been working to dial-up the overall feel and entertainment value of our core product to provide a tech-savvy, next generation customer with a tailored experience that is well-differentiated within the larger sports betting marketplace.”
Investor Conference Call
Management will host a conference call at 10:00 a.m. EDT on Friday, April 5, 2024 to discuss the Companyâs preliminary unaudited year-end and fourth quarter 2023 financial results.
Dial-in: | 800-717-1738 (toll free) or (+1) 289-514-5100 (local or international calls) | |
Webcast: Â Â Â Â Â Â Â Â A live webcast can be accessed from the Events section of the Companyâs website | ||
A replay of the webcast will be archived on the Companyâs website for one year. | ||
Rivalry expects to file its audited financial statements and management discussion and analysis for the period ended December 31, 2023 by the end of April 2024. The documents will be available on SEDAR+ at sedarplus.ca, and on the Companyâs website.
Related Party Transaction
On April 17, 2022 the Company entered into a secured demand loan (the âLoanâ) with Kevin Wimer, the Chief Operating Officer and a Director of the Company. Pursuant to the terms of the Loan, the Company loaned Mr. Wimer US$385,000 which amount bears interest at 3.2% per annum and was repayable on demand by the Company and in any event by April 17, 2024 (the âMaturity Dateâ). The Loan was entered into to assist Mr. Wimer with the funding of certain tax obligations and is secured by a pledge of Mr. Wimerâs subordinate voting shares of the Company. The Company announces today that it has entered into an amendment to the Loan (the âLoan Amendmentâ) to extend the Maturity Date to April 17, 2026. The Loan Amendment was approved by the non-interested directors of the Company.
Mr. Wimer is a “related party” of the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). As a result, the Loan Amendment is considered to be a “related party transaction” as such term is defined by MI 61-101. The Company is relying on an exemption from the minority shareholder approval requirement set out in MI 61-101 as the fair market value of the transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report more than 21 days before entering into the closing of the Loan Amendment as the details of the Loan Amendment were not settled until shortly prior to the entering into thereof.
Canada
NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform

NetGaming, a fast-growing online casino content supplier, is proud to announce its launch in Ontario with Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States, Canada and Latin America. This strategic collaboration marks a significant milestone for NetGaming as it continues to expand its footprint across regulated North American markets.
As part of the launch, Ontario players on BetRivers can now enjoy a diverse portfolio of NetGaming titles, known for their high-quality graphics, immersive gameplay, and unique themes. Standout games such as Zeus’s Thunderbolt, Bison Gold, and Fireball Inferno are among the first to go live, with additional titles set to follow soon.
This partnership is just the beginning. NetGaming plans to extend its collaboration with Rush Street Interactive into Michigan, New Jersey, Pennsylvania, Delaware, and Mexico over the coming months.
Pallavi Deshmukh, CEO of NetGaming, commented: âWe are thrilled to go live with Rush Street Interactive, a powerhouse operator with a strong presence and loyal player base. This launch marks a significant milestone in our
North American expansion strategy and underscores our commitment to delivering exceptional gaming experiences tailored to local player preferences across the region.â
Richard Schwartz, CEO of Rush Street Interactive, commented: âWe are pleased to partner with NetGaming to bring innovative, premium games to our players in Ontario. This collaboration aligns with our strategy to offer world-class
entertainment through engaging, action-packed online casino games. We look forward to expanding this partnership into additional regulated markets in the months ahead.â
This strategic partnership highlights both companies’ dedication to providing high- quality, innovative, and responsible entertainment to players in regulated markets.
Canada
User-Centric Redesign for Casinosfiables.ca

Casinosfiables announced that they have redesigned their existing site – https://casinosfiables.ca/ to better address current user demands.
Although the siteâs functionality aligns with modern industry standards, the redesign is a step in the right direction and could very well give a competitive edge.
The changes addressed certain functionality concerns and aligned with ever-changing user preferences and behavior.
⢠Seamless page transition – The overall performance of the site improved, so pages loaded faster, despite the addition of new elements.
⢠Integrated social media buttons – Buttons that lead to social media pages became more visible, so it is easier for readers to complete engagement incentives that granted them affiliate-exclusive rewards or promo codes.
⢠More valuable insights – Previously, charts and ratings were only explained in separate reviews. The new roundup charts and ratings had a dropdown feature that provided more insights or clarity behind the rating.
⢠Relevant search filters – Some trends or categories that targeted user intent werenât visible in the previous version. The updated version introduced new categories that better reflected player preferences, or included roundups based on casino features (e.g., cashback, no wager promos, game providers) that werenât at the forefront previously.
⢠Author pages – Readers who had similar opinions and game preferences to the siteâs authors gained the ability to find other texts from those authors. Each casino expert received a dedicated page listing all of their publications.
The changes were finalized over the past few months. The team pushed these updates in batches rather than a single big update.
Canada
Vancouver Resident Purchased Winning $40 Million Lotto Max Ticket While Quenching Sparkling Water Craving

Phuc Duc (Daniel) Chau loves the Bubly brand of sparkling water and stopped in a convenience store to purchase a can. Chau likes to buy lottery tickets based on a gut feeling, and due to the employeeâs bubbly nature while he purchased his Bubly, Chau also purchased a Lotto Max ticket for the May 23, 2025 draw. Â
It was this ticket that ended up scoring Chau a whopping $40-million jackpot. Â
âI was at work when I found out,â recalled Chau of the moment he realized he won. âI was going through my bag to find a cough drop, but I saw that I had two lottery tickets in my bag and decided to scan the tickets, but I needed to update the [BCLC Lotto!] app first. The first ticket I didnât win anything, but the second said $40 million. I have never seen that many zeroes in my life, ever. I dropped my phone and then called BCLC right away!âÂ
At the time of the prize claim, the Vancouver resident hadnât yet shared the news of his win. Â
âMy partner doesnât know yet! I want to share the news with them in a special way.â Â
Chau shared that his dream has always been to travel the world. âThere are so many places I want to go to, so I havenât fully decided!âÂ
When asked if he will quit his job, he said, âI havenât decided, but I want to continue to support my community in a different way.âÂ
On how it feels to be a multimillionaire? Â
âIt means a lot to me. It opens up an opportunity for me to give back to my family, community and the world all around me. Itâs not meaningful unless you can share this with those who need it.â Â
Chau purchased the winning ticket at the 7-Eleven on Imperial Street and Boundary Road in Burnaby. Â
So far in 2025, B.C. lottery players have redeemed more than $146 million from Lotto Max. Lotto Max is a nationwide lottery game drawn on Tuesdays and Fridays after 7:30 p.m. (PST). Â
Players can purchase tickets at lottery retailers or at PlayNow.com. Winning numbers and group release forms can be found online at www.bclc.com. Players can check their lottery tickets anytime, anywhere on iOS and Android devices.Â
BCLC offers socially responsible gambling entertainment while generating income to benefit all British Columbians. Players can visit PlayNow.com to learn how to set time and money limits.
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