Rivalry Launches Millennial, Gen Z-Focused iOS Mobile App In Ontario
Portfolio Pulse from Akanksha Bakshi
Rivalry Corp. has launched its mobile app in Ontario, providing residents access to its next-generation betting platform for esports and traditional sports. Since acquiring its license in April 2022, Rivalry has experienced a 15% average month-over-month growth rate in esports betting. The company reported 1Q23 revenues of $12 million, a 151% YoY increase, and a betting handle of $120.2M, up 199% YoY.
May 31, 2023 | 11:04 am
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Rivalry Corp. launches its mobile app in Ontario, targeting Millennials and Gen Z. The company has experienced a 15% MoM growth rate in esports betting and reported 1Q23 revenues of $12 million, up 151% YoY.
The launch of Rivalry's mobile app in Ontario is a significant development for the company, as it targets Millennials and Gen Z consumers who prefer mobile betting. The company has already experienced a 15% average month-over-month growth rate in esports betting since acquiring its license in April 2022. The 1Q23 revenues of $12 million, up 151% YoY, indicate strong growth potential for the company, which is likely to have a positive impact on its stock price in the short term.
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