Sports activities betting and media firm Rivalry has posted its Q3 2021 outcomes, outlining file income, betting deal with, and additional enlargement plans in 2022.
The Canadian operator’s general betting deal with was $23.2m CAD (~£13.76m) within the quarter, up 141 p.c from the earlier 12 months in Q3 2020. Rivalry moreover netted $3.7m (~£2.19m) in income, a powerful enhance from its $500,000 (~£296,785) income recorded the 12 months prior.
In accordance with a launch, Rivalry is trying to launch its sports activities betting platform in Australia, Ontario, and different jurisdictions in 2022.
Rivalry’s CEO & CO-founder Steven Salz commented on the corporate’s Q3 leads to a launch: “We’re on the centre of an inevitable generational tidal wave that’s reshaping client merchandise throughout a number of industries, together with sports activities betting.
“By way of market-leading model fairness, revolutionary product improvement, a number of new playing licenses in course of, and an unparalleled crew, I’m assured Rivalry will proceed to reveal to shareholders why we are able to outline this new generational paradigm in sports activities betting.”
The corporate has additionally said it has entry to $41.3m (~£24.51m) in money and is freed from debt as of September thirtieth. Rivalry moreover said it has seen ‘file engagement’ throughout its content material and social media properties, an space during which the Canadian operator has solely doubled down on in current instances.
Different key occasions main as much as this quarter’s key outcomes embrace Rivalry’s successful public offering on the TSX Enterprise Trade on October fifth, and two weeks in a while the Frankfurt Inventory Trade.
The corporate additionally launched a brand new proprietary on line casino providing referred to as ‘Rushlane’ and utilized to the Alcohol and Gaming Fee of Ontario to change into a totally registered operator of web gaming and sports activities betting within the province.
“We’re very excited in regards to the alternatives forward of us in esports, conventional sports activities betting, and on line casino by means of our initially developed recreation IP, Rushlane,” Salz added. “Whereas outcomes will fluctuate from quarter to quarter as a result of timing of main esports occasions, we anticipate sturdy progress for the foreseeable future.
“Forthcoming key catalysts can be our anticipated launch in regulated markets equivalent to Australia, Ontario, and different jurisdictions subsequent 12 months.”
Esports Insider says: Rivalry’s progress this previous 12 months has been explosive, to say the least. From the highest down, the corporate has confirmed its highly effective buyer acquisition technique, made key appointments to its board, and dashed into launching its regulated platform in new areas.
The corporate’s Q3 outcomes are undoubtedly spectacular, though it will likely be extremely telling to see if Rivalry can preserve its progress the next 12 months.