Rivalry has revealed its 2023 plans include the launch of a mobile app to increase product accessibility, after reporting a solid 2022.
The company said year-to-date betting handle increased 181 per cent year-on-year to US$186m, with revenue increasing 130 per cent year-on-year to $21.7m in Q3 2022.
Elsewhere, 90 per cent of Rivalry’s sportsbook handle was driven by esports and its recently-launched Casino.exe casino interface accounted for 30 per cent of betting handle and 15 per cent of revenue.
In a letter to shareholders, Rivalry co-founder and CEO, Steven Salz, said: “Rivalry experienced a breakout year in 2022, with exceedingly strong performance across the business.
“The early indicators of sustainable and profitable growth that we demonstrated in October are a positive sign of what’s to come as the business continues to execute its strategic priorities.
“Having achieved record results every quarter, we believe the prospects for our business are as strong as ever as we kick off 2023.
“We have high expectations for 2023 and are confident that it will be another year of record achievements.”
As well as launching a mobile app, Rivalry plans to evolve Casino.exe and release additional in-house developed and third-party games.
The company says measurable outcomes of success will be greater margin stability and enhanced brand engagemement.
