Rivalry has released its end-of-year statement in a letter to the company’s shareholders. The Canadian company reported triple-digit growth during 2021 and hopes to continue its growth trend into 2022.
Customer registrations increased to approximately 600,000 through October 2021 on a year-to-date basis, up from 350,000 at the end of 2020.
The company grew its betting handle by over 180% to CA$66.1m through October 2021. This was on a year-to-date basis, with an implied annual run rate as of the last reported quarter (Q3 2021) of nearly CA$100m.
Rivalry also applied to the Alcohol and Gaming Commission of Ontario to become a fully registered operator of internet gaming and sports betting in Ontario. The company commenced trading via direct listing on the TSX Venture Exchange on October 5, 2021.
“I’m confident Rivalry as a company, and a collection of talented individuals understands better than any of our peers how to navigate and participate in this culture. It is an inevitable generational tidal wave that we are focusing all our efforts on acquiring, retaining, and entertaining,” Steven Salz
Co-Founder & CEO of Rivalry Corp., said.
“We are confident 2022 will be another record year of accomplishments.”
Salz also said Rivalry is committed to expanding its leadership brand in 2022, not only in next-gen sports betting but also in entertainment.
“It’s my belief that this intersection we live in, and the demographic we are serving, represents one of the biggest opportunities of the coming decade,” he said.