Sports betting and entertainment company Rivalry has released its Q2 FY 2022 results revealing record revenues of $5.3 million, a jump of 60% year-on-year and 11% from the previous period.
Rivalry Announces Record Revenues and Profits in FY 2022 Q2 ResultsSpeaking of the latest results, Steven Salz, Co-Founder and CEO of Rivalry said:
“We are very encouraged by our performance in Q2, putting up significant year-over-year growth across all core metrics, and sequential growth on a number as well, despite what is a seasonally quiet quarter in the esports calendar. And thus far, our momentum in the third quarter is continuing this growth trajectory, including hitting another all-time record for betting handle in a single month, delivering $23.4 million in July. With a number of impactful product releases, marketing, and operational initiatives slated through the rest of year, we are hungry to demonstrate to the market the inherent operating leverage in our model.”
Rivalry Announces Record Revenues and Profits in FY 2022 Q2 Results
He added:
“Looking ahead, we are excited about the second half of the year. The traditionally strong third quarter is tracking well for us. Several important platform enhancements in areas like mobile app, traditional sports offering, and our casino vertical are set to be launched in the coming months.”
Rivalry launched iGaming operations in Ontario on April 4th 2022, the first day of the local regulated industry’s launch. The company also announced the launch of sports betting operations in Australia on May 9th, 2022.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.