TORONTO, May 31, 2023 (GLOBE NEWSWIRE) -- Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), an internationally regulated sports betting and media company, today announced the launch of its mobile app in Ontario. Rivalry’s mobile app will allow Ontario residents to use the Company’s next generation betting platform on their phones and wager on an extensive catalog of esports and traditional sports.

“Mobile betting is a significant addition for our Ontario operations and core audience of Millennial and Gen Z consumers that prefer the flexibility of betting on their phones,” said Steven Salz, Rivalry Co-founder and CEO. “Launching a mobile app adds an important layer of accessibility to our product, increasing our addressable market in Ontario, and allowing us to bring esports betting to more customers in the region and ultimately grow the category.”

Rivalry launches its esports betting iOS mobile app in Ontario

Rivalry’s mobile app features the most comprehensive esports betting offering in Ontario, including popular games such as Counter-Strike: Global Offensive, League of Legends, and Dota 2, as well as top mobile titles including Call of Duty: Mobile, Free Fire, and Mobile Legends: Bang Bang. Users can also wager on a range of traditional sports, including football, soccer, basketball, and more.

“We are engaging a demographic with unique consumption habits and betting preferences,” Salz continued. “This is a generation that expects more from the products, entertainment, and brands they consume, and we’ve customized our online betting experience to match that. Our differentiated user experience continues to act as a catalyst for our company, and we’re excited to bring this offering to the palm of our customers’ hands.”

The launch of Rivalry’s mobile app arrives amid a rise in esports betting in Ontario. Rivalry has seen an average month-over-month growth rate in esports betting of 15% since acquiring its license to operate in the province in April 2022. The Company expects its mobile app will drive an increase in player acquisition and engagement among its core audience of Millennial and Gen Z bettors, which represent 97% of its active users, and further build on its position as the most engaged esports betting brand globally.¹

Rivalry’s iOS mobile app is available to Ontario residents 19+ and can be downloaded on the Apple App Store.

About Rivalry
Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the next generation of bettors. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions. Rivalry holds a sports bookmaker license in Australia and an internet gaming registration in Ontario and is currently in the process of obtaining additional country licenses. The Company also has a variety of originally developed products, including Quest, an on-site engagement experience, a first-party casino game called Rushlane, and a proprietary casino platform that houses third-party games, Casino.exe.

Investor Contact:
Oakstrom Advisors
Jeff Codispodi
investors@rivalry.com

Rivalry Contact:
Cody Luongo, PR & Communications
cody@rivalry.com
203-947-1936

Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; the impact of the COVID-19 pandemic; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s annual information form for the year ended December 31, 2022 and other disclosure documents available on the Company’s SEDAR profile at www.sedar.com.

No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Source: Rivalry Corp.

¹ Barclays, “eSports: Level 1 – Fan monetisation” report