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

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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.

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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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Betano Renews Sponsorship with Formula One Legend Felipe Massa

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Betano Renews Sponsorship with Formula One Legend Felipe Massa

 

Former Ferrari, Williams and Sauber driver remains Betano’s ambassador in Brazil, participating in responsible gaming campaigns and social initiatives, with the brand also displayed on his car and race suit

 Betano, Kaizen Gaming’s sports betting and gaming brand, announces the renewal of its successful partnership with Felipe Massa, active since 2023. The Brazilian driver, recognized worldwide for his career in Formula 1 and recent victories in Stock Car, which made him runner-up in the sport, will continue his partnership with Betano under a multi-year contract, reinforcing the connection between the brand, driver and his fans.

“Felipe Massa is more than an ambassador for Betano; he is a symbol of trust that shares similar values with us and has a story that inspires. Renewing this partnership is part of our commitment to offering fans unique experiences and expanding our presence in Brazilian sports. Massa will also be our ambassador for responsible gaming and will engage in social initiatives driven by Betano,” says Guilherme Figueiredo, Betano’s Country Manager in Brazil.

To celebrate the renewal and officially sign the contract, Massa visited Betano’s brand-new office in São Paulo, Brazil. Employees had the chance to meet him in person, get autographs, and take photos while sharing their excitement for the renewed partnership.

“This is a very special relationship. I am proud to represent a brand that understands and values ​​sports. Each event and activation we have done together was created with one goal in mind: to create unforgettable moments for sports fans. It is a pleasure to continue this collaboration and I’m looking forward to achieving more together in the coming years,” says Felipe Massa.

The Brazilian driver has a career full of achievements. Runner-up in F1 in 2008 and with victories in several international competitions, he is an idol to thousands of motorsports enthusiasts.

During his partnership with Betano, Felipe Massa participated in several activations with sports fans and the brand’s customers. Among the highlights, the Betano Racing event stands out, where influencers and guests had the opportunity to race side by side with the driver, creating moments of adrenaline and fun. In addition, Betano welcomed Massa to the Copa América Cup Tour in São Paulo and to activations in Belo Horizonte during the historic first stage of the Stock Car in the city.

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Major League Baseball and Sportradar Expand Partnership

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Major League Baseball (MLB) and Sportradar announced a long-term extension and expansion of their decade-long partnership, set to begin with the 2025 season, aimed at unlocking the full potential of MLB’s data and audiovisual (AV) content while growing America’s pastime worldwide.

As part of the agreement, MLB has acquired an equity stake in Sportradar, further solidifying the partnership between the two organizations and supporting future growth opportunities.

Under the new terms, Sportradar, in partnership with MLB, will exclusively distribute MLB’s ultra-low latency official data, media content, including MLB Statcast Data, and AV content across its global client network, which spans 800 sportsbook clients and 900 media companies.

To ensure the integrity of the sport, Sportradar will continue to provide best-in-class integrity services, including Sportradar’s Universal Fraud Detection System (UFDS) to monitor global betting activity, as well as offer investigative and educational support to MLB.

Additionally, Sportradar and MLB will collaborate on the creation of AI-driven products powered by player tracking data to create immersive, hyper-personalized fan experiences.

Kenny Gersh, MLB Executive Vice President, Media & Business Development, said: “Sportradar has been a great partner to MLB, particularly helping us navigate the legalization and continued evolution of the global sports betting landscape. Over the course of our partnership, Sportradar has consistently developed great products utilizing MLB’s best-in-class data. MLB is delighted to continue innovating with Sportradar to create engaging products and services for MLB fans globally.”

Carsten Koerl, CEO of Sportradar, said: “We are thrilled to continue our long-standing partnership with MLB, and this agreement represents a new, exciting chapter in our journey together. Our collaboration is not only about leveraging cutting edge technology and content but also working together to create innovative products that enhance fan engagement and bring fans closer to the game. By combining our strengths, we can unlock new opportunities and reach more sports fans around the globe to shape the future of sports entertainment. This deal, which is immediately accretive to our business, will drive value for our shareholders as we continue to expand margins and generate strong cash flow.”

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SCCG Enters into Strategic Partnership with Tecpinion

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SCCG Management has entered into a strategic partnership with Tecpinion, a premier provider of custom development and ready-to-launch, 100% customizable iGaming platforms with full ownership.

Tecpinion delivers state-of-the-art platforms for sweepstakes casinos, social casinos, sports betting, online casinos, fantasy sports, crash games, and more, with integrated solutions such as multi-lingual support, payment gateways, and referral systems that cater to a global audience.

SCCG Management will provide business development support, sponsorship exposure, and strategic distribution opportunities, leveraging its extensive global network to position Tecpinion as a go-to provider for gaming operators looking to scale efficiently. With a proven history of facilitating successful partnerships across the industry, SCCG will help Tecpinion expand its reach, maximize its market impact, and connect with key stakeholders in high-growth regions.

Stephen Crystal, Founder & CEO of SCCG Management, said: “Technology is the backbone of innovation in gaming, and Tecpinion is at the forefront of developing solutions that meet the evolving needs of operators and players. Their expertise in building dynamic, scalable platforms aligns perfectly with SCCG’s mission to drive growth and efficiency in the industry. Through this partnership, we will bring Tecpinion’s next-generation gaming solutions to new markets, ensuring operators have access to the technology and business strategies necessary for long-term success.”

Deepti Shukla, CEO of Tecpinion, said: “We are very excited about this partnership with SCCG management. They have been instrumental in changing the entire paradigm of iGaming industry and their dedication toward the industry growth is unmatched. They are one of the most experienced and professional team in the industry. We are sure that together this partnership will open new opportunities of growth for businesses of our industry.”

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