Rivalry elects directors at annual general meeting

The sports betting and media company’s shareholders have elected the nominated directors.

Canada.- The sports betting and media company Rivalry has announced the results of its annual general and special meeting of shareholders. Each of the director nominees listed in May were elected: including Steven Isenberg, Stephen Rigby, Steven Salz, Kirstine Stewart, Ryan White, and Kevin Wimer.

The shareholders of the company also approved the reappointment of Macias Gini & O’Connell LLP as auditors for the next year and authorised the board of directors to fix their remuneration and terms of engagement. They approved amendments to the equity incentive plan, and the re-pricing of certain stock options issued to officers of the company in accordance with TSX Venture Exchange rules and policies.

Recently, Rivalry announced the launch of its mobile app in Ontario. The app features esports betting, including on Counter-Strike: Global Offensive, League of Legends, and Dota 2. Users can also wager on a range of traditional sports, including football, soccer and basketball. The company announced the launch of its casino product in Ontario in March.

Rivalry hits record revenue in Q1

Rivalry has announced its financial results for the three-months ended March 31. The company registered record revenue driven by growth across both its sportsbook and gaming divisions.

Revenue was $12m, up by $7.2m or 151 per cent from $4.8m in Q1 2022 and by $2.5m or 27 per cent from Q4 2022 revenue of $9.4m. The betting handle for Q1 was a record of $120.2m, up by $80m or 199 per cent from $40.2m in Q1 2022 and by $36.2m or 43 per cent from the previous quarterly record of $83.9m in Q4 2022.