Creator of the article:
Article content material
- Betting deal with of $78.2 million for FY 2021 elevated 202% year-over-year, with This autumn 2021 betting deal with of $24.9 million up 389% YoY.1
- Income of $11.1 million for FY 2021 grew 617% YoY, with This autumn 2021 income of $2.2 million up 615% YoY.
- Preliminary Q1 2022 betting deal with of $40.2 million, a report excessive, up 62% sequentially from This autumn 2021, and 273% year-over-year.
- Momentum being fueled by financial buyer acquisition prices and strong payback intervals, underpinned by modern product and market main model fairness.
- $35.5 million of money and nil debt at year-end to assist continued development in core and new markets.
Commercial 2
Article content material
TORONTO, April 27, 2022 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Firm” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports activities betting and leisure firm, at present introduced its monetary outcomes for the three and 12-month intervals ended December 31, 2021. The Firm additionally introduced preliminary outcomes for the three-month interval ended March 31, 2022. All greenback figures are quoted in Canadian {dollars}.
“We had an incredible 12 months by practically all measures in 2021. Our group delivered triple-digit development, secured the monetary assets to speed up our momentum, continued to strengthen our initially developed product, added important expertise depth to our bench, and additional solidified Rivalry as probably the most engaged model in esports betting globally,”2 mentioned Steven Salz, Co-Founder and CEO of Rivalry. “I’m additionally happy to say we’ve got continued that pacing into 2022, with our Q1 betting deal with delivering 62% sequential development over This autumn, and up 273% year-over-year.”
Commercial 3
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Full-Yr 2021 Monetary Highlights
- Betting deal with was $78.2 million in 2021, up 202% from $25.9 million in 2020.
- Income was $11.1 million for the complete 12 months, a rise of $9.5 million or 617% from $1.5 million in 2020.
- Gross revenue was $2.2 million for the complete 12 months, a rise of $1.5 million or 217% from $0.69 million in 2020.
- The Firm’s subordinate voting shares commenced buying and selling on the TSX Enterprise Trade and the Frankfurt Inventory Trade in October 2021, adopted by an inventory on the OTCQX simply after year-end.
- The Firm had $35.5 million of money and no debt as at December 31, 2021.
Fourth Quarter 2021 Monetary Highlights
- Betting deal with was $24.9 million in This autumn 2021, up 389% from $5.1 million in This autumn 2020.
- Income was $2.2 million within the fourth quarter, a rise of $1.9 million or 615% from $0.3 million in This autumn 2020.
- Gross revenue was $0.4 million within the fourth quarter, a rise of $0.3 million or 366% from $0.1 million in 2020.
Commercial 4
Article content material
“The expansion we noticed in This autumn was extremely encouraging, and a sign of energy in what is usually probably the most seasonally quiet quarter of the 12 months, with us delivering modest sequential development over Q3. As our conventional sports activities betting product has continued to enhance, we’re seeing a extra numerous product combine, which helps to blunt the seasonality of esports, one thing that we count on to proceed sooner or later,” mentioned Steven Salz.
2021 Operational Highlights
- Sustaining management within the quickly rising esports section with roughly 90% of betting deal with being positioned on esports occasions, in comparison with 10% on conventional sports activities.
- Efficiently participating the following era bettor, with a median buyer age of 26, and 82% of lifetime prospects beneath the age of 30.
- Buyer registrations elevated to roughly 610,000 by the top of 2021, up from 350,000 one 12 months earlier.
- Rivalry’s companion community and owned properties reached a complete of 55 million followers.
- Pioneered a brand new gaming class of Large Multiplayer On-line Playing Video games (MMOGG) with the launch of proprietary title Rushlane.
- The Firm made a lot of key management hires all year long throughout practically all departments, materially enhancing the expertise bench.
Commercial 5
Article content material
Subsequent Occasions
- Momentum continued within the first quarter of 2022 with betting deal with reaching a brand new report of $40.2 million, a rise of 273% year-over-year and up 62% sequentially from This autumn 2021. The Firm expects to announce full outcomes for Q1 2022 by the top of Might.
- On January 22, 2022, the Firm’s subordinate voting shares commenced buying and selling on the OTCQX Greatest Market.
- On February 9, 2022, the Firm was awarded its sports activities bookmaker license by the Northern Territory Racing Fee (Australia) pursuant to the Racing and Betting Act 1983 (NT), which permits the Firm to legally function all through the entire of the nation.
- In March 2022, the Firm introduced the addition of cellular esports to its sportsbook, enabling prospects to wager on aggressive esports performed on cellular gadgets.
- The Firm was among the many first to begin operations in Ontario on April 4, 2022, the primary day of regulated on-line gaming within the province.
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Article content material
Targets for 2022
- Significant growth of the Firm’s conventional sports activities providing to assist the continued curiosity and development it’s seeing.
- New initially developed video games to enhance Rushlane and add depth to Rivalry’s massively multiplayer on-line playing video games class (MMOGG’s).
- Launching a cellular app according to the shock and delight the Firm believes the following era of consumers are on the lookout for.
- A on line casino providing that’s genuine to the Firm’s demographic.
- Launch in new geographies beneath its current Isle of Man license, and new regulated licenses to offer steady development in customers and model attain throughout the globe.
- A dynamic media technique to proceed positioning Rivalry as an industry-leading inventive home working on the forefront of web tradition.
Commercial 7
Article content material
“Our focus in 2022 is development throughout product, new geographies, and an growth of Rivalry’s inventive universe to capitalize on what we imagine is a generational alternative to change into the chief in betting and leisure for the following era. By way of financially disciplined administration, and executing on our focused operational objectives, we imagine our optimistic unit economics will enhance, and a path to profitability will change into clear,” mentioned Steven Salz.
Investor Convention Name
Administration will host a convention name at 10:00 a.m. EDT on Wednesday, April 27, 2022 to debate the Firm’s year-end 2021 monetary outcomes.
| Dial-in: | 888-886-7786 (toll free) or (+1) 416-764-8658 (native or worldwide calls) |
| Webcast: | A reside webcast may be accessed from the Occasions part of the Firm’s web site at www.rivalrycorp.com or at this hyperlink.
A replay of the webcast can be archived on the Firm’s web site for one 12 months. |
Commercial 8
Article content material
Rivalry’s monetary statements and administration dialogue and evaluation for the interval ended December 31, 2021 can be found on SEDAR at www.sedar.com, and on the Firm’s web site at www.rivalrycorp.com.
Associated Celebration Transaction
On April 17, 2022 the Firm entered right into a secured demand mortgage (the “Mortgage”) with Kevin Wimer, the Chief Working Officer and a Director of the Firm. Pursuant to the phrases of the Mortgage, the Firm loaned Mr. Wimer US$385,000 which quantity bears curiosity at 3.2% each year and is repayable on demand by the Firm and in any occasion by April 17, 2024. The Mortgage was entered into to help Mr. Wimer with the funding of sure tax obligations and is secured by a pledge of Mr. Wimer’s subordinate voting shares of the Firm. The Mortgage was accepted by the non-interested administrators of the Firm.
Commercial 9
Article content material
Mr. Wimer is a “associated social gathering” of the Firm throughout the that means of Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101“). In consequence, the Mortgage is taken into account to be a “associated social gathering transaction” as such time period is outlined by MI 61-101. The Firm is counting on an exemption from the minority shareholder approval requirement set out in MI 61-101 because the honest market worth of the transaction doesn’t exceed 25% of the market capitalization of the Firm, as decided in accordance with MI 61-101. The Firm didn’t file a cloth change report greater than 21 days earlier than the closing of the Mortgage as the main points of the Mortgage weren’t settled till shortly previous to the closing thereof.
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Article content material
About
Rivalry
Rivalry Corp. wholly owns and operates Rivalry Restricted, a number one sport betting and media property providing absolutely regulated on-line wagering on esports, conventional sports activities, and on line casino for the following era of bettors. Based mostly in Toronto, Rivalry operates a world group in additional than 20 nations and rising. Rivalry Restricted has held an Isle of Man license since 2018, thought-about one of many premier on-line playing jurisdictions. Rivalry holds a sports activities bookmaker license in Australia and an web gaming registration in Ontario and is at the moment within the technique of acquiring extra nation licenses. The Firm additionally has a wide range of initially developed merchandise, together with Quest, an on-site engagement expertise, and an authentic on line casino recreation known as Rushlane, a proprietary on line casino recreation that marks the creation of a brand new class for on-line gaming: Massively Multiplayer On-line Playing Video games (MMOGG).
Commercial 11
Article content material
Investor Contact:
Vincic Advisors
Jeff Codispodi I buyers@rivalry.com
Media Contact:
BRANDSTYLE COMMUNICATIONS
Kell Cholko I kell@brandstyle.com
Firm Contact:
Steven Salz, Co-Founder & CEO
ss@rivalry.com
Cautionary Be aware Concerning Ahead-Wanting Data and Statements
This information launch incorporates sure forward-looking info throughout the that means of relevant Canadian securities legal guidelines (“forward-looking statements”). All statements aside from statements of current or historic truth are forward-looking statements. Ahead-looking statements are sometimes, however not at all times, recognized by means of phrases equivalent to “anticipate”, “obtain”, “might”, “imagine”, “plan”, “intend”, “goal”, “steady”, “ongoing”, “estimate”, “outlook”, “count on”, “undertaking” and related phrases, together with negatives thereof, suggesting future outcomes or that sure occasions or situations “might” or “will” happen. These statements are solely predictions. Ahead-looking statements on this information launch embrace, however usually are not restricted to, statements in respect of the expansion of the Firm’s month-to-month betting deal with and different efficiency indicators, and anticipated launches in different jurisdictions.
Commercial 12
Article content material
Ahead-looking statements are primarily based on the opinions and estimates of administration of the Firm on the date the statements are made primarily based on info then obtainable to the Firm. Numerous components and assumptions are utilized in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Ahead-looking statements are topic to and contain a lot of identified and unknown, variables, dangers and uncertainties, lots of that are past the management of the Firm, which can trigger the Firm’s precise efficiency and outcomes to vary materially from any projections of future efficiency or outcomes expressed or implied by such forward-looking statements. Such components, amongst different issues, embrace regulatory or political change equivalent to modifications in relevant legal guidelines and rules; the power to acquire and keep required licenses; the esports and sports activities betting {industry} being a closely regulated {industry}; the advanced and evolving regulatory atmosphere for the net gaming and on-line playing {industry}; the success of esports and different betting merchandise usually are not assured; modifications in public notion of the esports and on-line playing {industry}; failure to retain or add prospects; the Firm having a restricted working historical past; damaging money circulation from operations; operational dangers; cybersecurity dangers; the impression of the COVID-19 pandemic; reliance on administration; reliance on third events and third-party networks; change charge dangers; dangers associated to cryptocurrency transactions; threat of mental property infringement or invalid claims; the impact of capital market situations and different components on capital availability; competitors, together with from extra established or higher financed rivals; and basic financial, market and enterprise situations. For extra dangers, please see the Firm’s prospectus dated September 17, 2021 obtainable on the Firm’s SEDAR profile at www.sedar.com.
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Article content material
No assurance may be provided that the expectations mirrored in forward-looking statements will show to be appropriate. Though the forward-looking statements contained on this information launch are primarily based upon what administration of the Firm believes, or believed on the time, to be affordable assumptions, the Firm can’t guarantee shareholders that precise outcomes can be according to such forward-looking statements, as there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. Readers shouldn’t place undue reliance on the forward-looking statements and knowledge contained on this information launch. The forward-looking info and forward-looking statements contained on this press launch are made as of the date of this press launch, and the Firm doesn’t undertake to replace any forward-looking info and/or forward-looking statements which are contained or referenced herein, besides in accordance with relevant securities legal guidelines.
No inventory change, securities fee or different regulatory authority has accepted or disapproved the knowledge contained herein.
Supply: Rivalry Corp.
1 The Firm defines “Betting Deal with” or “Deal with” as the full greenback worth accepted in wagers, adjusted for cancellations and corrections.
2 Supply: Twitonomy, Social Blade, Rival IQ
Commercial
Creator of the article:
Article content material
- Betting deal with of $78.2 million for FY 2021 elevated 202% year-over-year, with This autumn 2021 betting deal with of $24.9 million up 389% YoY.1
- Income of $11.1 million for FY 2021 grew 617% YoY, with This autumn 2021 income of $2.2 million up 615% YoY.
- Preliminary Q1 2022 betting deal with of $40.2 million, a report excessive, up 62% sequentially from This autumn 2021, and 273% year-over-year.
- Momentum being fueled by financial buyer acquisition prices and strong payback intervals, underpinned by modern product and market main model fairness.
- $35.5 million of money and nil debt at year-end to assist continued development in core and new markets.
Commercial 2
Article content material
TORONTO, April 27, 2022 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Firm” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports activities betting and leisure firm, at present introduced its monetary outcomes for the three and 12-month intervals ended December 31, 2021. The Firm additionally introduced preliminary outcomes for the three-month interval ended March 31, 2022. All greenback figures are quoted in Canadian {dollars}.
“We had an incredible 12 months by practically all measures in 2021. Our group delivered triple-digit development, secured the monetary assets to speed up our momentum, continued to strengthen our initially developed product, added important expertise depth to our bench, and additional solidified Rivalry as probably the most engaged model in esports betting globally,”2 mentioned Steven Salz, Co-Founder and CEO of Rivalry. “I’m additionally happy to say we’ve got continued that pacing into 2022, with our Q1 betting deal with delivering 62% sequential development over This autumn, and up 273% year-over-year.”
Commercial 3
Article content material
Full-Yr 2021 Monetary Highlights
- Betting deal with was $78.2 million in 2021, up 202% from $25.9 million in 2020.
- Income was $11.1 million for the complete 12 months, a rise of $9.5 million or 617% from $1.5 million in 2020.
- Gross revenue was $2.2 million for the complete 12 months, a rise of $1.5 million or 217% from $0.69 million in 2020.
- The Firm’s subordinate voting shares commenced buying and selling on the TSX Enterprise Trade and the Frankfurt Inventory Trade in October 2021, adopted by an inventory on the OTCQX simply after year-end.
- The Firm had $35.5 million of money and no debt as at December 31, 2021.
Fourth Quarter 2021 Monetary Highlights
- Betting deal with was $24.9 million in This autumn 2021, up 389% from $5.1 million in This autumn 2020.
- Income was $2.2 million within the fourth quarter, a rise of $1.9 million or 615% from $0.3 million in This autumn 2020.
- Gross revenue was $0.4 million within the fourth quarter, a rise of $0.3 million or 366% from $0.1 million in 2020.
Commercial 4
Article content material
“The expansion we noticed in This autumn was extremely encouraging, and a sign of energy in what is usually probably the most seasonally quiet quarter of the 12 months, with us delivering modest sequential development over Q3. As our conventional sports activities betting product has continued to enhance, we’re seeing a extra numerous product combine, which helps to blunt the seasonality of esports, one thing that we count on to proceed sooner or later,” mentioned Steven Salz.
2021 Operational Highlights
- Sustaining management within the quickly rising esports section with roughly 90% of betting deal with being positioned on esports occasions, in comparison with 10% on conventional sports activities.
- Efficiently participating the following era bettor, with a median buyer age of 26, and 82% of lifetime prospects beneath the age of 30.
- Buyer registrations elevated to roughly 610,000 by the top of 2021, up from 350,000 one 12 months earlier.
- Rivalry’s companion community and owned properties reached a complete of 55 million followers.
- Pioneered a brand new gaming class of Large Multiplayer On-line Playing Video games (MMOGG) with the launch of proprietary title Rushlane.
- The Firm made a lot of key management hires all year long throughout practically all departments, materially enhancing the expertise bench.
Commercial 5
Article content material
Subsequent Occasions
- Momentum continued within the first quarter of 2022 with betting deal with reaching a brand new report of $40.2 million, a rise of 273% year-over-year and up 62% sequentially from This autumn 2021. The Firm expects to announce full outcomes for Q1 2022 by the top of Might.
- On January 22, 2022, the Firm’s subordinate voting shares commenced buying and selling on the OTCQX Greatest Market.
- On February 9, 2022, the Firm was awarded its sports activities bookmaker license by the Northern Territory Racing Fee (Australia) pursuant to the Racing and Betting Act 1983 (NT), which permits the Firm to legally function all through the entire of the nation.
- In March 2022, the Firm introduced the addition of cellular esports to its sportsbook, enabling prospects to wager on aggressive esports performed on cellular gadgets.
- The Firm was among the many first to begin operations in Ontario on April 4, 2022, the primary day of regulated on-line gaming within the province.
Commercial 6
Article content material
Targets for 2022
- Significant growth of the Firm’s conventional sports activities providing to assist the continued curiosity and development it’s seeing.
- New initially developed video games to enhance Rushlane and add depth to Rivalry’s massively multiplayer on-line playing video games class (MMOGG’s).
- Launching a cellular app according to the shock and delight the Firm believes the following era of consumers are on the lookout for.
- A on line casino providing that’s genuine to the Firm’s demographic.
- Launch in new geographies beneath its current Isle of Man license, and new regulated licenses to offer steady development in customers and model attain throughout the globe.
- A dynamic media technique to proceed positioning Rivalry as an industry-leading inventive home working on the forefront of web tradition.
Commercial 7
Article content material
“Our focus in 2022 is development throughout product, new geographies, and an growth of Rivalry’s inventive universe to capitalize on what we imagine is a generational alternative to change into the chief in betting and leisure for the following era. By way of financially disciplined administration, and executing on our focused operational objectives, we imagine our optimistic unit economics will enhance, and a path to profitability will change into clear,” mentioned Steven Salz.
Investor Convention Name
Administration will host a convention name at 10:00 a.m. EDT on Wednesday, April 27, 2022 to debate the Firm’s year-end 2021 monetary outcomes.
| Dial-in: | 888-886-7786 (toll free) or (+1) 416-764-8658 (native or worldwide calls) |
| Webcast: | A reside webcast may be accessed from the Occasions part of the Firm’s web site at www.rivalrycorp.com or at this hyperlink.
A replay of the webcast can be archived on the Firm’s web site for one 12 months. |
Commercial 8
Article content material
Rivalry’s monetary statements and administration dialogue and evaluation for the interval ended December 31, 2021 can be found on SEDAR at www.sedar.com, and on the Firm’s web site at www.rivalrycorp.com.
Associated Celebration Transaction
On April 17, 2022 the Firm entered right into a secured demand mortgage (the “Mortgage”) with Kevin Wimer, the Chief Working Officer and a Director of the Firm. Pursuant to the phrases of the Mortgage, the Firm loaned Mr. Wimer US$385,000 which quantity bears curiosity at 3.2% each year and is repayable on demand by the Firm and in any occasion by April 17, 2024. The Mortgage was entered into to help Mr. Wimer with the funding of sure tax obligations and is secured by a pledge of Mr. Wimer’s subordinate voting shares of the Firm. The Mortgage was accepted by the non-interested administrators of the Firm.
Commercial 9
Article content material
Mr. Wimer is a “associated social gathering” of the Firm throughout the that means of Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101“). In consequence, the Mortgage is taken into account to be a “associated social gathering transaction” as such time period is outlined by MI 61-101. The Firm is counting on an exemption from the minority shareholder approval requirement set out in MI 61-101 because the honest market worth of the transaction doesn’t exceed 25% of the market capitalization of the Firm, as decided in accordance with MI 61-101. The Firm didn’t file a cloth change report greater than 21 days earlier than the closing of the Mortgage as the main points of the Mortgage weren’t settled till shortly previous to the closing thereof.
Commercial 10
Article content material
About
Rivalry
Rivalry Corp. wholly owns and operates Rivalry Restricted, a number one sport betting and media property providing absolutely regulated on-line wagering on esports, conventional sports activities, and on line casino for the following era of bettors. Based mostly in Toronto, Rivalry operates a world group in additional than 20 nations and rising. Rivalry Restricted has held an Isle of Man license since 2018, thought-about one of many premier on-line playing jurisdictions. Rivalry holds a sports activities bookmaker license in Australia and an web gaming registration in Ontario and is at the moment within the technique of acquiring extra nation licenses. The Firm additionally has a wide range of initially developed merchandise, together with Quest, an on-site engagement expertise, and an authentic on line casino recreation known as Rushlane, a proprietary on line casino recreation that marks the creation of a brand new class for on-line gaming: Massively Multiplayer On-line Playing Video games (MMOGG).
Commercial 11
Article content material
Investor Contact:
Vincic Advisors
Jeff Codispodi I buyers@rivalry.com
Media Contact:
BRANDSTYLE COMMUNICATIONS
Kell Cholko I kell@brandstyle.com
Firm Contact:
Steven Salz, Co-Founder & CEO
ss@rivalry.com
Cautionary Be aware Concerning Ahead-Wanting Data and Statements
This information launch incorporates sure forward-looking info throughout the that means of relevant Canadian securities legal guidelines (“forward-looking statements”). All statements aside from statements of current or historic truth are forward-looking statements. Ahead-looking statements are sometimes, however not at all times, recognized by means of phrases equivalent to “anticipate”, “obtain”, “might”, “imagine”, “plan”, “intend”, “goal”, “steady”, “ongoing”, “estimate”, “outlook”, “count on”, “undertaking” and related phrases, together with negatives thereof, suggesting future outcomes or that sure occasions or situations “might” or “will” happen. These statements are solely predictions. Ahead-looking statements on this information launch embrace, however usually are not restricted to, statements in respect of the expansion of the Firm’s month-to-month betting deal with and different efficiency indicators, and anticipated launches in different jurisdictions.
Commercial 12
Article content material
Ahead-looking statements are primarily based on the opinions and estimates of administration of the Firm on the date the statements are made primarily based on info then obtainable to the Firm. Numerous components and assumptions are utilized in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Ahead-looking statements are topic to and contain a lot of identified and unknown, variables, dangers and uncertainties, lots of that are past the management of the Firm, which can trigger the Firm’s precise efficiency and outcomes to vary materially from any projections of future efficiency or outcomes expressed or implied by such forward-looking statements. Such components, amongst different issues, embrace regulatory or political change equivalent to modifications in relevant legal guidelines and rules; the power to acquire and keep required licenses; the esports and sports activities betting {industry} being a closely regulated {industry}; the advanced and evolving regulatory atmosphere for the net gaming and on-line playing {industry}; the success of esports and different betting merchandise usually are not assured; modifications in public notion of the esports and on-line playing {industry}; failure to retain or add prospects; the Firm having a restricted working historical past; damaging money circulation from operations; operational dangers; cybersecurity dangers; the impression of the COVID-19 pandemic; reliance on administration; reliance on third events and third-party networks; change charge dangers; dangers associated to cryptocurrency transactions; threat of mental property infringement or invalid claims; the impact of capital market situations and different components on capital availability; competitors, together with from extra established or higher financed rivals; and basic financial, market and enterprise situations. For extra dangers, please see the Firm’s prospectus dated September 17, 2021 obtainable on the Firm’s SEDAR profile at www.sedar.com.
Commercial 13
Article content material
No assurance may be provided that the expectations mirrored in forward-looking statements will show to be appropriate. Though the forward-looking statements contained on this information launch are primarily based upon what administration of the Firm believes, or believed on the time, to be affordable assumptions, the Firm can’t guarantee shareholders that precise outcomes can be according to such forward-looking statements, as there could also be different components that trigger outcomes to not be as anticipated, estimated or supposed. Readers shouldn’t place undue reliance on the forward-looking statements and knowledge contained on this information launch. The forward-looking info and forward-looking statements contained on this press launch are made as of the date of this press launch, and the Firm doesn’t undertake to replace any forward-looking info and/or forward-looking statements which are contained or referenced herein, besides in accordance with relevant securities legal guidelines.
No inventory change, securities fee or different regulatory authority has accepted or disapproved the knowledge contained herein.
Supply: Rivalry Corp.
1 The Firm defines “Betting Deal with” or “Deal with” as the full greenback worth accepted in wagers, adjusted for cancellations and corrections.
2 Supply: Twitonomy, Social Blade, Rival IQ
Commercial
