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Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements

Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
2023 Annual Letter to Shareholders
To our Shareholders,
This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.
Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.
In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2 and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.
Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.
The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.
While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.
Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.
Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.
The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.
Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.
Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5 organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.
It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.
Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.
To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.
The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.
We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.
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RESORTS WORLD LAS VEGAS NAMES TOM MCMAHON SENIOR VICE PRESIDENT OF SLOT OPERATIONS AND MARKETING

Resorts World Las Vegas is continuing the expansion of its executive leadership team with the appointment of Tom McMahon as Senior Vice President of Slot Operations and Marketing.
A respected leader with more than two decades of experience in gaming and hospitality, McMahon steps into his role effective immediately.
“Tom’s deep expertise in luxury casino operations and marketing makes him a powerful addition to our team,” said Carlos Castro, President and Chief Financial Officer of Resorts World Las Vegas. “We look forward to the leadership he will provide in this essential function at Resorts World Las Vegas.”
McMahon has held senior roles at some of the most recognized names in the industry, including Wynn Resorts, Bellagio Resort & Casino, Las Vegas Sands, Venetian | Palazzo and most recently Sycuan Casino Resort. At Resorts World Las Vegas, he will lead initiatives across slot operations, marketing and the Genting Rewards Loyalty Program, with a focus on innovation, guest engagement and operational excellence.
Said McMahon, “Returning to Las Vegas to join a forward-thinking property like Resorts World is an incredible opportunity. I am eager to help shape the next chapter of growth by enhancing the guest experience and building on the strong foundation already in place.”
For more information about Resorts World Las Vegas, please visit rwlasvegas.com.
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Aristocrat Gaming and Aristocrat Interactive to Debut Innovative Firsts at the Oklahoma Indian Gaming Show 2025

Aristocrat Gaming and Aristocrat Interactive will showcase four world premieres in land-based gaming, and innovative solutions for tribal customers in booth #242 during the Oklahoma Indian Gaming Show (OIGA), taking place July 14-16 in Oklahoma City, OK.
Making its first public appearance, Polar High Roller Super Lightning Wilds will be a Class II gaming highlight of the show, evolving the player-favorite Lightning Wilds brand, bringing it to new premium hardware on the Marquis three-reel cabinet. Additional features include popular Class III mechanics like Hold & Spin and a digital wheel, combined with classic touches including Red Screen Free Spins. Polar High Roller Super Lightning Wilds will be on the popular $UPER HIT$ JACKPOT$ $250k MSP link.
In an Aristocrat Gaming first, the company will introduce a Class II Bartop. The all-new Bartop will feature VGT by Aristocrat Gaming classics like The Hunt for Neptune’s Gold, with more to follow.
Making its trade show premiere, All-Star Scratchers brings a unique, innovative gaming experience to the Neptune Single and MarsX Portrait hardware. This new bespoke game allows players to form any combination of their favorite VGT characters including Hot Red Ruby, Mr. Money Bags, Lucky Ducky, and Jewel. All-Star Scratchers also features even more Red Screen Free Spin action with four different bingo cards at play at once, resulting in more fun and excitement.
In Class III, Chief Inferno will also make its world premiere. Housed on the MarsX Flex, Chief Inferno is an extension of the popular Buffalo Chief family, featuring classic Chief stack multipliers, now with all-new enhanced Gold Coins that create even larger Chief stacks, as well as a popular bonus meter.
Presented on the Marquis three-reel cabinet, Buffalo Eclipse takes a classic stepper game and elevates the excitement with Hold & Spin and a metamorphic meter. Spin the digital wheel for a chance at the Grand Jackpot, Eclipse Hold & Spin, or other credit prizes.
Aristocrat Gaming will display its latest hardware, The Baron Portrait cabinet. The Baron Portrait takes on the same basic shape as The Baron Upright, with a new and sleek 43” curved ultra hi-def 4K monitor. The curved monitor on The Baron Portrait was carefully designed for proven player comfort and ergonomics with an improved visual display. Its launch portfolio of Coin Trio Buffalo, Spooky Link, and Fa Fa Fa is now available and quickly making its way onto casino floors across the country.
Making its OIGA debut on The Baron Upright is the all-new Galactic Quest for Love and Money. Specifically designed for The Baron Upright, this game features the popular Re-spin mechanic with an innovative twist, set to entertain players with its out-of-this-world graphics and sounds.
Aristocrat Interactive will showcase the power of an omni-channel experience, with innovative solutions that bridge the gap between retail and online gaming.
The company will present a tailored Class II mobile gaming solution for Tribal operators that will extend its brand to players beyond the casino floor. This new offering allows players to enjoy their favorite Aristocrat Gaming Class II games like Mr. Money Bags and Lucky Ducky on their mobile device on approved tribal land, including from the hotel room, restaurants in the resort, pool area, and more.
Gaming Systems will display its version 15 suite of products designed to modernize casino floors with the latest features in OASIS casino management; floor-wide bonusing and media capabilities with ONE LINK; new features in the PlayerMax mobile app, including mobile enrollment and a new progressive jackpot display with player alerts; and a Loyalty solution designed for accurate reinvestment and player engagement.
Aristocrat remains invested in tribal gaming, underscoring its dedication to supporting tribal operators with cutting-edge technology, forward-thinking gaming solutions, as well as supporting tribal communities.
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NASCAR & iRacing Renew Partnership with PlayVS

PlayVS, the leading amateur esports platform, announced the renewal of its groundbreaking partnership with NASCAR and iRacing, reaffirming its commitment to supporting the rapidly expanding eNASCAR College iRacing Series. This renewed collaboration will continue to bring high-octane, competitive virtual racing to college students across the country, providing unique career and scholarship opportunities through one of the most innovative programs in collegiate esports. This season will also mark the debut of PlayVS as the official league platform, following its recent acquisition of Playfly College Esports.
Launched in 2022, the eNASCAR College iRacing Series has quickly become one of the most engaging and inclusive collegiate esports competitions in the country. Powered by iRacing’s premier motorsport simulation platform and NASCAR’s deep racing heritage, the series gives full-time college students the opportunity to compete for scholarship prizes, develop real-world career skills, and gain exposure to professional motorsports and esports pathways.
The eNASCAR College iRacing Series has grown to over 300 schools and almost 500 unique racers. In April, the 2024-25 Series season concluded with Cal State Fullerton’s Logan Clampitt celebrating victory at the Homestead-Miami Speedway and earning $10,000 in scholarship prizes.
“Renewing our partnership with NASCAR and iRacing reflects our commitment to delivering competitive and meaningful esports experiences to college students across North America. The eNASCAR College iRacing Series is not just about virtual racing—it’s a launchpad for future talent in motorsports, gaming, and media,” said Charles O’Donnell, Sr. Director of College Esports at PlayVS.
Through iRacing’s hyper-realistic simulation software, students experience the thrill of authentic stock car racing while competing from their dorm rooms, esports arenas, or home setups. The upcoming 2025-26 season promises even more exciting races, new tracks, and increased prize opportunities.
“We’re proud to continue building the future of sim racing through our partnership with iRacing and PlayVS. The eNASCAR College iRacing Series is more than just competition—it’s a foundational bridge between the collegiate esports ecosystem and the world of NASCAR. As we enter the 2025–26 season, this partnership strengthens our commitment to developing young talent, expanding access, and inspiring the next generation of motorsports professionals,” said Ray Smith, Sr. Director of Esports at NASCAR.
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