Rivalry Corp. Reports Record Third-Quarter

On November 24th, Rivalry Corp. announced the company’s third-quarter financial results. The organization’s fiscal third-quarter officially ended on September 30th, 2021.

Revenues for the company were $2.89 million during Q3 2021, representing a 679% increase from the same time period last year. As of September 30th, the business reported $41.3 million in cash and no debt.

“In the third quarter we delivered an all-time record performance, driven by our relentless pursuit to become the leading next-generation sports betting brand in the world,” said Steven Salz, the CEO of Rivalry. “Having completed our direct listing on the TSX Venture Exchange shortly after this record quarter, adding additional capital to the balance sheet, and with zero debt, followed by an all-time record performance in October, we believe we are setting up for a strong 2022 as we head into the off-season for esports.”

Rivalry is a well-known online sports and esports betting organization. The privately-held company was originally founded in 2017.

(All information was provided by GlobeNewswire and LinkedIn)

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