About Us
  • Content
  • Casinos
  • Community
  • Bonuses
  • Bookmakers
  • Awards
  • Games
  • Blacklisted
  • Land-based
  • Guides
Check Casinos Casino Awards Crypto Casinos
Best Bonuses
All Bonuses
WooCasino
Welcome Package up to 300 CAD + 200 FS
Get
Playamo
Welcome Package up to 1500 CAD + 150 FS
Get
BetChan
11% real money weekly cashback
Get
Get $5 to your account, 1000+ free spins and 20% VIP Cashback
Register Now
Top Content
All Content
Deep Dive into Aviamasters: Why This Crash Game from BGaming Went Viral

Deep Dive into Aviamasters: Why This Crash Game from BGaming Went Viral

2026 World Cup qualifiers: The ultimate guide to qualifying for the world's biggest football tournament

2026 World Cup qualifiers: The ultimate guide to qualifying for the world's biggest football tournament

Big Bass Bonanza – Slot of the Week: Review, Secrets and Exclusive Free Spins Bonus

Big Bass Bonanza – Slot of the Week: Review, Secrets and Exclusive Free Spins Bonus

About Us

We use cookies on this sit
to enhance your user experience

Privacy Policy
  • Content
  • Casinos
  • Games
  • Community
  • Bonuses
  • Blacklisted
  • Land-based
  • Bookmakers
  • Awards
Browse
  • Player Blogs
  • Guides
  • Complaints
  • Casino Ratings
  • Trusted Casinos
  • Crypto Casinos
  • Free Slots
About Us

We use cookies
on this site to enhance
your user experience

Privacy Policy
  • Main
  • Content
  • News
Casino Ratings
Trusted Casinos
Crypto Casinos
News
31 May 2024
MarkPatterson
img
MarkPatterson
MarkPatterson

Rivalry Posts Sequential Growth in Q1 2024 But Faces Year-Over-Year Decline

5
add to bookmarks Share publication
1109 views

Toronto-based esports and iGaming provider Rivalry reported a notable 51% increase in net revenue for the first quarter of 2024, showing sequential growth. However, the company still lags behind its performance from the same period last year.

The first quarter saw net revenue reach $4.5 million, resulting in a net revenue margin of 58.5%—the highest in the company's history. This figure is 13% higher than the margin for the full fiscal year 2023.

For the three-month period ending March 31, 2024, Rivalry's betting handle increased by 11% from Q4 2023, reaching $94.7 million, while gross gaming revenue (GGR) rose by 20% to $7.7 million.

The company attributed these quarterly gains to “ongoing initiatives to increase margins through innovation and adjustments to the product offering.”


Innovation Driving Results

During an earnings call on May 30, Co-founder and CEO Steven Salz highlighted the success of the company's innovation strategy, noting that the record net revenue margin demonstrated that their approach was “delivering results.” Salz also mentioned that scaling back on promotions contributed to this success, as the company found alternative ways to reactivate customers through cost-effective marketing efforts.


Year-Over-Year Decline

Despite the quarterly progress, Rivalry’s financials showed a significant year-over-year decline. Comparing Q1 2024 to Q1 2023, the betting handle dropped by 21.2%, GGR fell by 35.8%, and net revenue decreased by 16.7%.

Salz emphasized the company's commitment to innovation and expressed optimism for moderate growth throughout the remainder of 2024.


Focus on Sportsbook

Rivalry CFO Kejda Qorri informed investors that the majority of the company’s Q1 2024 handle came from casino gaming (59%), while sportsbook handle accounted for 41%.

Salz hinted at future B2B revenue opportunities from the company’s original casino content, expressing eagerness to provide more details soon. Rivalry plans to explore licensing its first-party casino games further.

Qorri noted that sports betting comprised nearly 80% of the Q1 GGR, consistent with the 2023 average. “Given their significant contribution to GGR, the sportsbook segment has been a primary focus for improving margins,” said Qorri. “While gaming generates lower but more predictable margins.”

To enhance margins, the company introduced several new sports betting features during the quarter, including a basketball same-game-parlay product coinciding with the 2024 NBA playoffs, pre-made parlays, and shareable bet slips.


Introduction of New Crypto Token

Rivalry announced the upcoming launch of its native cryptocurrency, Rivalry Token, set for the second half of FY 2024. Salz described the token as a tool to engage the company’s target demographic of under-30s, who are native to the internet. Customers can earn tokens by wagering and referring friends. These tokens will integrate across the sportsbook and casino verticals to boost player engagement, loyalty, and advocacy.

However, the Rivalry Token will not be available in Ontario due to provincial iGaming regulations that prohibit the use of cryptocurrency as legal tender. Salz clarified that the token is intended as a loyalty reward rather than a betting currency, which is why it will not be launched in Ontario.

MarkPatterson
MarkPatterson
5
add to bookmarks Share pulication
1109 views
Crypto Casinos Top casinos for crypto users.
Crypto Casinos
Casino with the ability to make a deposit using cryptocurrencies – step into the future of gaming! Enjoy seamless transactions with Bitcoin, Ethereum, and other popular cryptocurrencies.
Most popular
What's wrong with an online casino licensed by Igaming Ontario?
What's wrong with an online casino licensed by Igaming Ontario?
36
Big wins this week 2024.04.22-2024.04.29
Big wins this week 2024.04.22-2024.04.29
34
Fake internet messiah Stevewilldoit
Fake internet messiah Stevewilldoit
27
Review of New Slots Released This Week 2024.04.23-2024.04.30
Review of New Slots Released This Week 2024.04.23-2024.04.30
26
The fake streamer Trainwrecks - creator of the largest streaming platform Kick
The fake streamer Trainwrecks - creator of the largest streaming platform Kick
26
Review of New Slots Released This Week: 2024.05.13-2024.05.20
Review of New Slots Released This Week: 2024.05.13-2024.05.20
24
Austin Major Playoff Predictions: Who to Bet On and Which Teams Will Dominate?
19 June 2025
News
5
Austin Major Playoff Predictions: Who to Bet On and Which Teams Will Dominate?
Best comment:

carlllll Vitality over FaZe in the final? Idk man. FaZe looks absolutely terrifying right now. If s1mple is even at 80% and the rest of the boys are clicking, I don't see anyone stopping them. Vitality looked shaky in that one Bo1. Feels like a classic FaZe Clan Major win is brewing.

Reply
Your Guide to Austin Major Souvenir Skins: From Drops to Grails
19 June 2025
News
5
Your Guide to Austin Major Souvenir Skins: From Drops to Grails
Best comment:

Damas That new Playoff Highlights feature sounds sick. Actually getting a clip of the play attached to the gun is a pretty cool evolution of the souvenir concept. Wonder how it will affect the value long-term.

Reply
Deep Dive into Aviamasters: Why This Crash Game from BGaming Went Viral
18 June 2025
Blogs
5
Deep Dive into Aviamasters: Why This Crash Game from BGaming Went Viral
Best comment:

ArtificialChild Took x150 and missed when landing...

Reply
Trainwreck called Pragmatic Play and Hacksaw Gaming slots a "lottery", while Nolimit City was the only chance to win
17 June 2025
News
8
Trainwreck called Pragmatic Play and Hacksaw Gaming slots a "lottery", while Nolimit City was the only chance to win
Best comment:

Mess5 Well, here we go again, another streamer "accidentally" advertises Nolimit. Guess who paid him for it

Reply
Casino Ratings Over 1000 casinos rated.
Casino Ratings
More than 1000 online casinos and more than 17,000 player reviews in the Casinos In Canada rating with real RTP casino games. Watch, read, and then play.
Opening of Hard Rock Hotel & Casino in Ottawa: Canada Reaches a New Level of Gambling
17 June 2025
News
7
Opening of Hard Rock Hotel & Casino in Ottawa: Canada Reaches a New Level of Gambling
Best comment:

Folli Wow, it's just like Vegas at hand! I will definitely go to Ottawa in the summer.

Reply
Stake Engine Blows Up the Online Casino Market: New Games Break Betting Records
17 June 2025
News
5
Stake Engine Blows Up the Online Casino Market: New Games Break Betting Records
Best comment:

Gelidohm Well, now it's clear why slots are being stamped so quickly

Reply
Musk turns X into a lottery machine: bets are now sewn directly into the social network
17 June 2025
News
6
Musk turns X into a lottery machine: bets are now sewn directly into the social network
Best comment:

aircon I go to X to read the news, not to bet on Trump's victory

Reply
Big Slots Wins This Week: June 10 – 16
16 June 2025
Big Wins
10
Big Slots Wins This Week: June 10 – 16
Best comment:

CaptainMa ROSHTEIN IS JUST A KING! One and a half lam of greens from one bonus card! I knew he was going to ruin this Slayers Inc!

Reply
New Slots Spotlight: 10 – 16 Jun
16 June 2025
News
11
New Slots Spotlight: 10 – 16 Jun
Best comment:

FlameKiller1 Cool selection! Thanks to the author, I was just looking for something to ride on the weekend.

Reply
Casino complaints Help with casino payout issues
Casino complaints
Casino complaints Is casino not paying out winnings? Write a complaint and we will try to help with the payment. Help with casino payout issues
2026 World Cup qualifiers: The ultimate guide to qualifying for the world's biggest football tournament
16 June 2025
Blogs
5
2026 World Cup qualifiers: The ultimate guide to qualifying for the world's biggest football tournament
Best comment:

alemen Wait

Reply
Big Bass Bonanza – Slot of the Week: Review, Secrets and Exclusive Free Spins Bonus
16 June 2025
Blogs
8
Big Bass Bonanza – Slot of the Week: Review, Secrets and Exclusive Free Spins Bonus
Best comment:

natlo My favorite slot is for relaxing.

Reply
Telegram Wallet: Your Pass to the World of Fast Crypto Payments in Gambling
16 June 2025
Blogs
9
Telegram Wallet: Your Pass to the World of Fast Crypto Payments in Gambling
Best comment:

LtKongolo Well, finally they explained it normally for people like me, who don't know a damn thing about blockchain

Reply
Two-thirds of UK players are ready to go to illegal immigrants when gambling taxes are raised
16 June 2025
News
5
Two-thirds of UK players are ready to go to illegal immigrants when gambling taxes are raised
Best comment:

Hellworkers So much for "consumer care". As soon as they are strangled with taxes, everyone will really go to left-wing offices.

Reply
License for BC. Game in Anjouan was issued by a non-existent company
13 June 2025
News
4
License for BC. Game in Anjouan was issued by a non-existent company
Best comment:

TommyVerceti Apparently, competitors are trying to sink them, but they do not sink

Reply
Crypto Casinos Top casinos for crypto users.
Crypto Casinos
Casino with the ability to make a deposit using cryptocurrencies – step into the future of gaming! Enjoy seamless transactions with Bitcoin, Ethereum, and other popular cryptocurrencies.
Twitch dealt a crushing blow to the skin market: Advertising of CS2 roulettes and cases is officially banned
13 June 2025
News
8
Twitch dealt a crushing blow to the skin market: Advertising of CS2 roulettes and cases is officially banned
Best comment:

Jezley They will stream in other places, there is no difference

Reply
Show More
5 comments
millerJason
millerJason

I'm a fan of Rivalry’s approach to enhancing player engagement with new features and loyalty rewards. The introduction of the Rivalry Token is particularly interesting. While the decline in financials from last year is a bit worrisome, their continuous innovation gives me hope for the future.

04 June 2024
0
SusanTheAmbitious
SusanTheAmbitious

The steady growth quarter-over-quarter is encouraging, but the significant year-over-year drop is concerning. I appreciate the company’s efforts to innovate and improve margins, but they need to find a way to regain their footing from last year.

03 June 2024
0
barbarathompson0v
barbarathompson0v

Rivalry’s focus on innovation is paying off with a record net revenue margin. The different ways they are engaging customers without heavy promotions show a smart approach. I’m excited to see more original casino content and how it impacts their B2B opportunities.

03 June 2024
0
LisaTheCharismatic
LisaTheCharismatic

The new Rivalry Token sounds like a cool idea, especially for earning rewards. It's a shame it's not available in Ontario, but I appreciate the transparency. The high net revenue margin is impressive, but I’m curious about how they’ll maintain this growth.

03 June 2024
0
MariaBrown
MariaBrown

I love the innovative features Rivalry keeps introducing. The new same-game parlays for basketball were a fantastic addition during the NBA playoffs. However, I am a bit concerned about the year-over-year decline. Hope they can turn it around!

03 June 2024
0
Last Activities

WinCraft

new casino rate
1 hours ago
miroslavazirkelbachova

miroslavazirkelbachova 1.0

WinSpirit

new casino rate
1 hours ago
MayDaid

MayDaid 5.0

WinSpirit

new casino rate
1 hours ago
mysticdiva27

mysticdiva27 5.0

Canada777 ignored my gambling addiction

new message in topic
21.06.2025 16:46
martintovmasyan818

martintovmasyan818 BRO U NOT getting that money back ya right

Kokobet blockes account

new message in topic
21.06.2025 02:59
nenadmaksim

nenadmaksim Hi Mike, Have you maybe found the time to check m...

  • Content
  • Casinos
  • Games
  • Community
  • Blacklisted
  • Bonuses
  • Land-Based
SIGN UP FOR +100 NO
DEPOSIT SPINS!

This offer is not applicable to residents of Great Britain.
By subscribing you are certifying that you have reviewed and
accepted our updated Privacy and Cookie Policy

  • Privacy Policy
  • Cookie Policy
  • Terms And Conditions
  • Responsible Gaming
18+
Trustpilot
  • YouTube
  • YouTube 2
  • X
  • Rumble
  • Facebook
  • Instagram
  • Telegram
  • mike@casinosincanada.com

© 2018-2025 CasinosInCanada.com

CasinosInCanada.com allows the use of materials only in case of re-prints and if correctly referenced. 

Home Bonuses Complaints Casinos Search
Log in
Register via
Google
Or
Sign Up
Register via
Google

We have sent you a confirmation code to your email

e-mail confirmation

To complete your registration, click the link in the e-mail we sent to your e-mail address

Cannot find an e‑mail?
Check Spam folder

The link will expire in 72 hours.

Remind password
login
Paste Youtube video link
Error!
Thank you!

We will answer you in a short time

Top Casinos
Casino Ratings (1104)
RocketPlay
Trusted
RocketPlay
Play now
WinSpirit
Trusted
WinSpirit
Play now
National Casino
Trusted
National Casino
Play now
Top Content
All Content
Deep Dive into Aviamasters: Why This Crash Game from BGaming Went Viral

Deep Dive into Aviamasters: Why This Crash Game from BGaming Went Viral

2026 World Cup qualifiers: The ultimate guide to qualifying for the world's biggest football tournament

2026 World Cup qualifiers: The ultimate guide to qualifying for the world's biggest football tournament

Big Bass Bonanza – Slot of the Week: Review, Secrets and Exclusive Free Spins Bonus

Big Bass Bonanza – Slot of the Week: Review, Secrets and Exclusive Free Spins Bonus

Get $5 to your account, 1000+ free spins and 20% VIP Cashback
Register Now
Top Slots
Slots (2054)
Legacy of Dead
RTP 78-96.58%
Legacy of Dead
By Play’n GO
Immortal Romance 2
RTP 96.30%
Immortal Romance 2
By Stormcraft Studios
Gluttony
RTP 92.10-96.09%
Gluttony
By No Limit City
The Invisible Man
RTP 88.01-96.4 %
The Invisible Man
By Netent
Best Bonuses
All Bonuses
WooCasino
Welcome Package up to 300 CAD + 200 FS
Get
Playamo
Welcome Package up to 1500 CAD + 150 FS
Get
BetChan
11% real money weekly cashback
Get