Rivalry sports betting handle up 141% for Q3
The firm has reported a betting handle of CA$23.3m and revenue of CA$3.7m for the quarter.
Canada.- The sports betting and media company Rivalry has released its Q3 report for the period ending September 30, showing a CA$23.3m ($18.4m) betting handle, and increase of 141 per cent from Q3 2020. Revenue grew 679 per cent to CA$3.7m, CA$3.2m higher than last year’s CA$0.5m. At the end of the quarter, Rivalry had CA$41.3m in cash and no debt.
Rivalry Co-Founder and CEO Steven Salz said: “In the third quarter we delivered an all-time record performance, driven by our relentless pursuit to become the leading next-generation sports betting brand in the world.
“We are at the center of an inevitable tidal wave that is reshaping consumer products across multiple industries, including sports betting. Through market leading brand equity, innovative product development, multiple new gambling licenses in process, and an unparalleled team, I’m confident Rivalry will continue to demonstrate to shareholders why we can define this new generational paradigm in sports betting.”
In October, Rivalry announced that it had applied to become a fully registered operator for sports betting and Internet gaming in the province of Ontario. The firm submitted an application for a sports betting and Internet gaming licence with the Alcohol and Gaming Commission of Ontario (AGCO).
See also: British Columbia wagers $25m in two months of single-event sports betting
