Rivalry Corp has published its 2023 business update. Company Co-Founder and CEO Steve Salz issued the statement to Rivalry shareholders, which described last year’s progress as a “breakout year.”
He wrote: “The early indicators of sustainable and profitable growth that we demonstrated in October are a positive sign of what’s to come as the business continues to execute its strategic priorities.
"Having achieved record results every quarter, we believe the prospects for our business are as strong as ever as we kick off 2023.”
Salz referred to company milestones achieved in Q2 in the areas of revenue and gross profit.
Total revenue during Q2 reached $4.1m and reflecting a 60% increase year-over-year. Gross profit climbed by 206% to reach $1.5m, another company quarterly high.
Another highlight of the report was Rivalry’s recent launch of its interactive casino platform, Casino.exe, which will be home to the company’s current and future titles. The platform features four new titles, including Penalty Shootout, Bomb Squad, Wheel of Time and Courier Sweeper.
Casino.exe was designed as a virtual interface that allows users to access titles from Rivalry’s third-party casino titles within an interactive online space.
Salz told shareholders that the company remains committed to reaching and surpassing past success.
He commented: “We have high expectations for 2023 and are confident that it will be another year of record achievements. I’m extremely proud of the differentiated approach Rivalry has taken from day one and what it has enabled us to achieve, creating a truly distinct product and brand that is driving operating leverage and bearing fruit across the business.
“As we move into 2023, we’re eager to continue demonstrating the same operational excellence which has enabled us to stand out in a deeply competitive industry.”
Rivalry Corp. is based in Toronto and currently operates in 20 countries. The company wholly owns and operates Rivalry Limited, which now holds an Isle of Man license it acquired in 2018. It recently became a fully registered operator of internet gaming and sports betting in Ontario.
The company holds a sports bookmaker license in Australia as well and is currently in the process of obtaining additional licenses.
