Rivalry reports $171m betting handle for FY2022

April 26, 2023
By
Leer en Español

The company surpassed several milestones for the fourth quarter and for the year.

Rivalry has released its financial report for the fourth quarter and for the fiscal year 2022. The company posted an increase in its annual betting handle of 198%.

Indeed, the esports betting company reached a milestone during Q4 regarding its betting handle, which reached $61.6m. Fourth quarter revenue and gross profit climbed to $6.6m and $3.7m respectively.

Rivalry’s total betting handle for the fiscal year grew to nearly $171m, reflecting a 198% boost year-over-year.

Revenue in 2022 hit an all-time high of $19.5m, surpassing 2021’s total by 140%.

The company posted a 2022 gross profit of $7.2m and a net loss for the year of $22.8m.

Company Co-Founder and CEO Steven Salz commented: “Our market strategy and operational excellence continues to build upon consecutive record-setting quarters, driving a strong finish to the year and a robust Q1, while simultaneously demonstrating sequential narrowing losses on our path to profitability.

“Underpinning our growth is significant brand loyalty among the Millennial and Gen Z audience and true product innovation in online betting, enabling every marketing dollar to go further, enhancing retention, and creating a distinctly unique platform. Rivalry continues to be economically rewarded for taking an inventive approach to the betting experience and tailoring it for a demographic with unique consumption habits.”

Rivalry recently launched its interactive casino platform, Casino.exe, which is 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.

State-by-State

Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.
GA HUDDLE #087

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!
GA HUDDLE #086

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

10-11-From-the-top
From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
12-GA-MAR-10-year-v2
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
16-18-IGA-Preview
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
20-22-GA-Mar-888-Holding-article
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.