Rivalry, a prominent sports betting and media company, is making significant strides in its product offerings with the introduction of its casino segment. Under its Isle of Man license, the company has unveiled its first-ever casino game, Aviator, featuring an exciting bet multiplier. While the casino segment has already launched, the Canadian province of Ontario can anticipate its arrival in the coming months. This move represents Rivalry’s commitment to providing its customers with fresh and engaging content while staying true to its brand identity. Let’s delve into the details of Aviator and explore Rivalry’s impressive revenue growth in the second quarter of 2022.
Aviator: A Thrilling Casino Game with a Twist
Aviator marks Rivalry’s entry into the casino gaming world with a unique and entertaining concept. Players are treated to an exhilarating experience as they participate in a game involving a plane taking off and ascending higher and higher. The bet multiplier steadily increases with the plane’s altitude until it eventually flies away. This captivating gameplay keeps players engaged and excited, while the live chat element fosters a sense of community, in line with Rivalry’s focus on creating a connected gaming environment.
Rivalry’s Strategy for Expansion
Prior to venturing into the casino segment, Rivalry had been primarily known for its esports betting platform, traditional sports betting offerings, and Massively Multiplayer Online Gambling Games (MMOGG) category. The successful launch of Rushlane, an online casino racing game, in the MMOGG category further strengthened the company’s position in the gaming industry. With the addition of Aviator, Rivalry is diversifying its product portfolio to cater to a wider audience and enhance its brand reputation.
Impressive Revenue Growth in Q2 2022
Rivalry’s commitment to excellence is evident in its remarkable financial performance in the second quarter of 2022. The company reported an astounding CA$5.3 million (US$4.1 million) in revenue, representing a remarkable 60% increase year-on-year. The handle, which reflects the total amount wagered by customers, surged by 98% to reach CA$38.4 million, showcasing the growing popularity of Rivalry’s offerings. Moreover, the gross profit saw a significant surge of 206%, reaching CA$2.1 million. The company’s strong financial position with a cash reserve of CA$27.8 million and no outstanding debt further solidifies its prospects for future growth.
Steady Growth in Q3
Rivalry’s momentum has continued into the third quarter, with a handle of CA$23.4 million in July alone, marking an impressive 66% increase compared to the previous month. This steady growth is a testament to the company’s ability to attract and retain customers through its innovative gaming experiences and strategic marketing efforts.
Expansion into Ontario’s Regulated Online Gaming Market
Rivalry has also made significant strides in expanding its gaming operations in Ontario, Canada. The company initiated its gaming operations in the province on April 4, coinciding with the launch of regulated online gaming. This strategic move positions Rivalry as a key player in Ontario’s burgeoning online gaming market, where it can tap into a vast and eager customer base.
Rivalry’s foray into the casino segment with Aviator showcases the company’s dedication to providing diverse and engaging gaming experiences to its customers. With a strong foundation in esports and traditional sports betting, as well as its innovative MMOGG offerings, Rivalry has successfully positioned itself for growth and expansion. The impressive revenue growth in Q2 2022 and the continued momentum in Q3 signify the company’s prominence in the gaming industry. As Rivalry gears up to enter the Ontario market, it is poised to continue its success and solidify its position as a leading sports betting and gaming company.