Rivalry’s betting handle topped $94.7 million, an 11% increase from Q4 2023. Gross gaming revenue (GGR) reached $7.7 million, jumping 20% from the previous quarter’s total.
Rivalry’s betting handle topped $94.7 million, an 11% increase from Q4 2023. Gross gaming revenue reached $7.7 million, jumping 20% from the previous quarter’s total. The company enjoyed a 51% spike in net revenue compared to Q4’s performance, ending Q1 with $4.5 million. The leading sportsbook and iGaming operator for Gen Z continues its run of hot performance.
“We are also very encouraged by the improvement to net revenue margin experienced in the quarter, hitting an all-time record, proving our strategy is delivering results, and representing a meaningful improvement as compared to the average levels experienced throughout 2023,” said Steven Salz, Co-Founder and CEO of Rivalry. When Rivalry reported its 2023 earnings earlier this year, Salz alluded to plans for a crypto-enabled product set in the works for 2024.
The company’s press release announcing the earnings and the token also suggested that Rivalry Token is just one of several forthcoming initiatives aimed at positioning the company in the crypto gambling market.
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