Toronto-based Esports wagering company Rivalry has confirmed the expansion of its casino offering in a move designed to widen its potential revenue streams.
This announcement is unlikely to come as a surprise to shareholders and close spectators following the firm’s recent business update where it noted a ‘huge amount of market opportunity’.
A mobile app and expansion of its esports offering is also on the agenda as Rivalry looks to build on triple-digit year-on-year growth in revenue, boosted by the arrival of its first casino product last summer which was followed by four new games in November.
Casino has already driven immediate material impact since its launch, contributing 30% of betting handle and 15% of revenue in Q3 2022, and Rivalry has sought to build on that success with the release of eight new games integrated on Casino.exe.
The casino offering is available online in markets operating under the company’s Isle of Man license, with a launch in Ontario expected to follow in the coming months.
“Our entry into the casino segment last year has provided valuable diversification to the business, adding incremental revenue while reducing the impact of seasonality in sports betting, improving margin stability, and continuing to promote profitable customer unit economics,” remarked Steven Salz, Co-Founder and CEO.
“We anticipate this extension of our casino offering will further grow revenue potential and drive sustained engagement amongst our users with a curated list of games geared for our demographic.”
Rivalry has further outlined its aim to evolve Casino.exe with new features and the release of additional third-party and in-house developed games ‘for a generation of bettors born on the internet’.
“Our strategic approach to customer engagement can be seen across our casino offering and suite of games, leveraging product innovation to create a custom and proprietary experience that caters specifically to our core demographic of users,” Salz continued.
“This strategy has enabled Rivalry to differentiate itself from competitors and meet shifting consumer demands with a curated, fun, and social experience. This focus is seen across our selection of games, prioritizing interactive and multiplayer titles that run counter to traditionally siloed casino gaming experiences and are better equipped to serve our audience.”