In a significant leadership transition, Rivalry, a prominent sports betting and media company, has appointed Demi Abidogun-Benson as its interim Chief Financial Officer (CFO). This change comes as Kejda Qorri steps down from her role to focus on family.
Demi Abidogun-Benson’s New Role
Demi Abidogun-Benson, who joined Rivalry in February 2022 as the Director of Finance, has been promoted to the position of Interim CFO. Her extensive background in finance and her tenure with Rivalry make her a well-suited candidate for this role. Prior to her time at Rivalry, Abidogun-Benson held a significant position as Director of Finance at Swash Digital and accumulated over a decade of experience with Deloitte Canada, with work stints across the UK, southeast Europe, and Canada.
Kejda Qorri’s Departure
Kejda Qorri, who has been a cornerstone of Rivalry’s financial management since its inception, is transitioning out of her role as CFO to devote more time to her family. Qorri played a pivotal role in steering the company’s financial strategy, overseeing its public listing, and managing various key initiatives. Her departure marks the end of an era, and her contributions have been deeply valued by the company and its stakeholders.
Steven Salz’s Acknowledgment
Steven Salz, Rivalry’s co-founder and CEO, expressed his gratitude towards Qorri for her leadership and contributions. Salz emphasized that Qorri’s decision to step down was respected, and he extended his best wishes for her future endeavors. He also conveyed his enthusiasm for Abidogun-Benson’s appointment, expressing confidence in her ability to continue the company’s financial success in her new role.
Kejda Qorri’s Farewell Message
In her parting message, Kejda Qorri reflected positively on her time with Rivalry. She praised the team’s talent and expressed confidence in Rivalry’s future growth. Qorri’s endorsement of Abidogun-Benson underscores her belief in the interim CFO’s capabilities and leadership qualities.
Q1 2024 Financial Highlights
Rivalry has demonstrated robust financial performance in the first quarter of 2024. The company reported a handle of CA$94.7 million, marking an 11% increase from the previous quarter. Gross gaming revenue also saw a notable rise, reaching CA$7.7 million, which represents a 20% growth from Q4 2023. Net revenue surged significantly to CA$4.5 million, reflecting a 51% increase or an additional CA$1.5 million compared to the previous quarter.
Comparison to Previous Quarters
These figures illustrate a strong upward trend in Rivalry’s financial metrics. The 11% increase in handle and 20% rise in gross gaming revenue are indicators of the company’s expanding market presence and operational efficiency. The substantial 51% increase in net revenue highlights the effectiveness of Rivalry’s strategies and its growing profitability.
The appointment of Demi Abidogun-Benson as Interim CFO marks a new chapter for Rivalry, with the company poised to continue its growth trajectory under her leadership. As Rivalry transitions from Kejda Qorri’s influential tenure, the strong financial performance in Q1 2024 underscores the company’s resilience and positive outlook. The collaborative efforts of the team, combined with the strategic guidance of Abidogun-Benson, are expected to drive Rivalry forward in the competitive sports betting and media landscape.