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# Rivalry Corp. Annual Shareholder Letter and Financial Results

## Introduction
TORONTO, May 01, 2024 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), a prominent sportsbook and iGaming operator for Gen Z, is excited to share its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All figures are quoted in Canadian dollars.

## Evolution and Success
At this time last year, I discussed Rivalry’s transition from being a market leader in esports to a diversified company shaping the standard for Gen Z betting entertainment across various sectors. Today, we have experienced tremendous growth in revenue distribution across casino, sports, and esports betting. In 2023, Rivalry saw a significant increase in betting handle, up 82% from the previous year to $423.2 million.

## Product Expansion and Future Outlook
The introduction of higher margin products like Same Game Combos and Quick Combos in the second half of 2023 has led to improvements in the overall sportsbook hold, guiding Rivalry towards profitability. Our expanded product suite now includes fantasy, additional sports coverage, and new proprietary casino games, fueling growth among a targeted customer segment and broadening opportunities in 2024 and beyond.

We are set to launch new, innovative products throughout 2024, focusing on core growth opportunities in popular sports like basketball and soccer. Additionally, Rivalry is expanding geographically and exploring new licenses to tap into the global Gen Z gambling market.

## AI legalese decoder Advantages
The AI legalese decoder can assist Rivalry in navigating the legal intricacies surrounding the online gambling industry, helping the company in understanding regulatory changes and compliance requirements more efficiently. By leveraging AI technology, Rivalry can streamline its legal processes, mitigate risks, and stay ahead of evolving legal landscapes.

# Financial Performance Overview

## Full-Year 2023 Highlights
– Betting handle increased by 82% to $423.2 million.
– Gross gaming revenue grew 34% to $35.7 million.
– Gross profit saw a 66% increase to $16.2 million.
– Casino segment revenues were up by 92%.
– Total operating expenses decreased by $1.1 million.
– Net loss reduced by 24% to $23.8 million.

## Fourth Quarter 2023 Highlights
– Betting handle for Q4 2023 was $85.2 million.
– Gross gaming revenue was $6.5 million.
– Gross profit stood at $3.0 million.
– Net loss decreased to $8.6 million.
– Rivalry strengthened its balance sheet with a $14 million private placement offering.

## About Rivalry
Rivalry Corp., through Rivalry Limited, offers fully regulated online wagering on esports, traditional sports, and casino for the next generation of fans. With a global presence, Rivalry is committed to setting new standards in betting entertainment.

By employing AI legalese decoder technology, Rivalry can enhance its legal operations, stay compliant with changing regulations, and capitalize on emerging opportunities in the online gambling industry. With a focus on innovation and customer-centric offerings, Rivalry is set to lead the way in Gen Z betting entertainment.

For more information on Rivalry’s financial performance and updates, visit the Company’s website at www.rivalrycorp.com or SEDAR+ at www.sedarplus.ca.

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This expanded content showcases how AI legalese decoder can support Rivalry in its legal operations and highlights the company’s financial performance in 2023. The use of headings improves readability and organization for stakeholders interested in Rivalry Corp.’s updates and achievements.

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