Sports activities betting and media firm Rivalry has posted its Q3 2021 outcomes, outlining report income, betting deal with, and additional growth plans in 2022.
The Canadian operator’s general betting deal with was $23.2m CAD (~£13.76m) within the quarter, up 141 % from the earlier yr in Q3 2020. Rivalry moreover netted $3.7m (~£2.19m) in income, a formidable enhance from its $500,000 (~£296,785) income recorded the yr 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 ends in a launch: “We’re on the centre of an inevitable generational tidal wave that’s reshaping shopper merchandise throughout a number of industries, together with sports activities betting.
“By means of market-leading model fairness, modern product growth, a number of new playing licenses in course of, and an unparalleled staff, I’m assured Rivalry will proceed to exhibit to shareholders why we are able to outline this new generational paradigm in sports activities betting.”
The corporate has additionally acknowledged it has entry to $41.3m (~£24.51m) in money and is freed from debt as of September thirtieth. Rivalry moreover acknowledged it has seen ‘report engagement’ throughout its content material and social media properties, an space through which the Canadian operator has solely doubled down on in latest occasions.
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 afterward the Frankfurt Inventory Trade.
The corporate additionally launched a brand new proprietary on line casino providing known as ‘Rushlane’ and utilized to the Alcohol and Gaming Fee of Ontario to turn out to be a totally registered operator of web gaming and sports activities betting within the province.
“We’re very excited concerning the alternatives forward of us in esports, conventional sports activities betting, and on line casino by way of our initially developed sport IP, Rushlane,” Salz added. “Whereas outcomes will fluctuate from quarter to quarter as a result of timing of main esports occasions, we anticipate robust progress for the foreseeable future.
“Forthcoming key catalysts will probably be our anticipated launch in regulated markets equivalent to Australia, Ontario, and different jurisdictions subsequent yr.”
Esports Insider says: Rivalry’s progress this previous yr 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 will probably be extremely telling to see if Rivalry can keep its progress the next yr.