Rivalry Corp records record numbers as company releases Q3 financial results

About this update from Rivalry Corp.

[{"type":"text","content":"Rivalry Corp records record numbers as company releases Q3 financial results\n \n \n (NewsDirect)\n \n \n \n \n Rivalry Corp CEO Steven Salz joined Steve\nDarling from Proactive to share news the company has achieved\nremarkable results in the third quarter of 2023, setting new records\nin various key performance indicators.\n \n \n Rivalry reported a betting handle of $105.7 million, marking a\nsignificant 50% increase compared to the same period the previous\nyear. The company reduced its marketing spend by 13% while achieving\nsubstantial growth in other areas, indicating improved marketing\nefficiency.\n \n \n Rivalry generated $8.7\nmillion in revenue during the third quarter, representing a notable\n22% increase year-over-year. The company reported a gross profit of $4\nmillion, demonstrating a remarkable 90% growth compared to the\nprevious year.\n \n \n Salz also\nhighlighted several key factors contributing to Rivalry's as the\ncompany successfully grown its casino segment, which now accounts for\napproximately half of the company's total betting handle. This\nexpansion illustrates the company's ability to cross-sell its\nofferings and drive growth, even during periods of low viewership for\ncertain esports events.\n \n \n Year-to-date customer key performance indicators (KPIs) have\nreached historic highs, including record levels of average handle per\ncustomer, average revenue per user, and the lowest-ever cost of\ncustomer acquisition.\n \n \n Rivalry's\nyear-to-date results have been exceptional, with a 127% increase in\nbetting handle, a 70% growth in revenue, and a remarkable 175% surge\nin gross profit compared to the first nine months of the previous\nyear.\n \n \n Salz also shared the company's future outlook, with a\nfocus on achieving profitability in the first half of 2024. These\nachievements highlight Rivalry Corp's strong market position and\nits ability to adapt and thrive in the competitive online betting and\ngaming industry.\n \n \n \n Contact Details\n \n \n \n Proactive\nInvestors\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2670,"tagName":"div"}]

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