- Rivalry (RVLY) announced its preliminary betting handle and revenue for the three-month period ended September 30, 2022
- Betting handle was $70.3 million, representing a new all-time high for the company
- Revenue was $7.1 million, also a record high for Rivalry
- Rivalry owns and operates sports betting and sports media property
- Rivalry Corp. (RVLY) is down 4.21 per cent, trading at C$0.91 per share at 2:06 pm ET
Rivalry (RVLY) announced its preliminary betting handle and revenue for the three-month period ended September 30, 2022.
Third quarter 2022 preliminary results:
- Betting handle was $70.3 million, representing a new all-time high for the company. Handle increased by 203 per cent YoY from $23.2 million in Q3 2021 and by 83 per cent sequentially compared to $38.4 million in Q2 2022
- Revenue was $7.1 million, also a record high for Rivalry. Revenue grew by 93 per cent YoY from $3.7 million in Q3 2021 and by 35 per cent from $5.3 million in Q2 2022
- With 82 per cent of active users at Rivalry under the age of 30-years old, the company continues to successfully leverage brand equity, consumer engagement, and original casino IP development to extend its leadership position as the betting destination for the next generation. This is demonstrated by over 90 per cent of sportsbook handle being driven by esports in the quarter
The company expects to announce complete results for the third quarter of 2022 by the end of November.
Steven Salz, Co-Founder and CEO of Rivalry, commented on the results.
“The significant year-over-year and sequential growth is a testament to our market leadership in next-generation sports betting and casino. Our customer base demonstrates our ability to engage a highly sought-after audience of Gen Z and Millennials in global markets. It further validates our overarching player acquisition and brand strategy.”
“We are very well positioned for a strong finish to 2022 and continued momentum into next year. We expect to benefit from a number of near-term catalysts, including several major esports events, a growing presence in traditional sports betting, the launch of a mobile app, and the ongoing introduction of new casino games, media content, and influencer partnerships.”
Rivalry owns and operates sports betting and sports media property. It offers fully regulated online wagering on esports, traditional sports, and casinos for the next generation of bettors.
Rivalry Corp. (RVLY) is down 4.21 per cent, trading at C$0.91 per share at 2:06 pm ET.
