TORONTO, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports betting and media company, today announced the expansion of its casino offering with a slate of eight new games, including Roulette, Blackjack, Baccarat, and more. This includes a variety of single player table games, as well as live dealer and multiplayer offerings that will be added to Rivalry’s proprietary casino product, Casino.exe.
“Our entry into the casino segment last year has provided valuable diversification to the business, adding incremental revenue while reducing the impact of seasonality in sports betting, improving margin stability, and continuing to promote profitable customer unit economics,” said Steven Salz, Rivalry Co-founder and CEO. “We anticipate this extension of our casino offering will further grow revenue potential and drive sustained engagement amongst our users with a curated list of games geared for our demographic.”
Rivalry adds eight new single player, live dealer and multiplayer games to its proprietary gaming platform Casino.exe.
The ongoing expansion of Rivalry’s casino game portfolio arrives after launching its initial product offering, Aviator, last summer, followed by the addition of four new games in November. Casino has already driven immediate material impact to the Company since its launch, contributing 30% of betting handle and 15% of revenue in Q3 2022 with minimal marketing efforts.
“Our strategic approach to customer engagement can be seen across our casino offering and suite of games, leveraging product innovation to create a custom and proprietary experience that caters specifically to our core demographic of users,” Salz continued. “This strategy has enabled Rivalry to differentiate itself from competitors and meet shifting consumer demands with a curated, fun, and social experience. This focus is seen across our selection of games, prioritizing interactive and multiplayer titles that run counter to traditionally siloed casino gaming experiences and are better equipped to serve our audience.”
All eight of the newly added games will be housed on Casino.exe, a first-of-its-kind casino userface designed to establish an entertaining and interactive gaming experience unique to Rivalry. The Company will continue to evolve Casino.exe with new features and the release of additional third-party and in-house developed games for a generation of bettors born on the internet.
The casino offering is available online in markets operating under the Company’s Isle of Man license, with a launch in Ontario expected to follow in the coming months.
About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media property offering fully regulated online wagering on esports, traditional sports, and casino for the next generation of bettors. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions. Rivalry holds a sports bookmaker license in Australia and an internet gaming registration in Ontario and is currently in the process of obtaining additional country licenses. The Company also has a variety of originally developed products, including Quest, an on-site engagement experience, and an original casino game called Rushlane, a proprietary casino game that marks the creation of a new category for online gaming: Massively Multiplayer Online Gambling Games (MMOGG).
Investor Contact:
Oakstrom Advisors
Jeff Codispodi
investors@rivalry.com
Rivalry Contact:
Cody Luongo, PR & Communications
cody@rivalry.com
203-947-1936
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.
Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s prospectus dated September 17, 2021 and other disclosure documents available on the Company’s SEDAR profile at www.sedar.com.
No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Source: Rivalry Corp.
