Esports and sports betting, media, and technology company, Rivalry, outlined its recent progress and strategic outlook for 2023 in a letter to its shareholders, expressing its belief that it will be another year of record achievements for the business.

Closer Look at 2022

Highlighting 2022 as a breakout year for the company in which it achieved triple-digit growth in revenue and betting handle year-over-year, and achieved its first profitable month in October, Rivalry stressed the importance of diversification which reduced the impact of seasonality and eliminated the firm’s dependency on bonuses and player subsidies.

I’m extremely proud of the differentiated approach Rivalry has taken from day one and what it has enabled us to achieve, creating a truly distinct product and brand that is driving operating leverage and bearing fruit across the business.

Steven Salz, chief executive officer and co-founder of Rivalry

The approach already proved its value to Rivalry, allowing it to cut bonus and other promotional spend in 2022 by 50% relative to its revenue year-over-year and achieve a below-market cost of customer acquisition, decouple the business from its reliance on new net spend for growth and set it on a path to profitability.

Delving deeper, the letter explained to Rivalry shareholders some of the nuances of the firm’s approach to customer acquisition derived from gaming and internet culture and knowledge of demographics gained by participating in player communities to instill lasting brand affinity among gaming fans who are viewed as the consumers of the future economy.

Due to this intimate understanding of the audiences and cultures that are bound to shape the next generation of consumer products, Rivalry believes it will be able to “tap into a global gaming audience and drive betting activity among … 532 million esports viewers worldwide.”

Future Outlook

Looking into 2023 and beyond, Rivalry is planning to expand its esports offering with new titles and markets, release new in-house developed and third-party games on its proprietary Casino.exe platform, launch a mobile app to increase accessibility for its product, increase addressable market and customer base geographically, expand content and partner program, and continue with the proactive capital markets outreach to attract new investors.

Seeking to advance the business toward consistent profitability, Rivalry will be looking to create margin stability while increasing the average customer spend, build intrinsic value capture via the increased total addressable market, and improve retention cost, as well as lower customer acquisition cost further.

“As we move into 2023, we’re eager to continue demonstrating the same operational excellence which has enabled us to stand out in a deeply competitive industry,” Salz concluded.

Provider of sportsbook software and online casino gaming platform, Digitain, announced it has opened a new office in Bucharest, Romania.

Enhance Service Quality

The opening of Digitain’s new branch in the capital of Romania will allow the company to enhance the level of customer services it offers to a growing client base in the region and will further expand its footprint in Europe.

Commenting on the announcement, Harutyan Vardanyan, founder of Digitain, voiced the company’s excitement “to open a new branch in Bucharest,” stressing that Digitain’s presence in “a dynamic and growing market” such as Romania will ensure that the provider of gaming solutions and platform “better meet the needs” of its customers across European gaming jurisdictions.

As part of the firm’s ongoing expansion strategy, the new office is located in the heart of the city and is the first of several offices that Digitain is planning to open around the world in the near future. It will become the home of a team of experienced professionals who will work closely with Digitain’s European clients to enhance the company’s product quality and service.

“At Digitain, we are committed to delivering the best possible experience for our clients,” Vardanyan continued, stressing the company’s belief that the opening of the office will bring the business a step closer to achieving its goals, including helping it foster strong relationships with European clients and partners.

“We are always looking for opportunities to grow and improve, and the opening of our new Bucharest office is a testament to this commitment,” Vardanyan concluded.

Working on All Fronts

Last year, Digitain entered into several business partnerships to expand its casino product offering and sportsbook footprint and made some internal shifts to its management team to prepare the business for scaling up.

In November, Digitain teamed with Spribe, a supplier of online casino gaming titles to add the supplier’s Turbo Games portfolio to its online casino platform and boost the product offering of its growing network of casino operators.

Earlier in the year, Digitain joined forces with the online casino brand Pin Up to power the brand’s sportsbook offering in Kazakhstan via its sportsbook platform and further deepen the partnership with the casino operator which began two years ago with a deal in Russia.

Another significant achievement of Digitain in 2022 was the signing of former Barcelona and Real Madrid soccer legend Luis Figo as its brand ambassador.

Aruze Gaming has made a foray into Europe with an office in the Netherlands. The leading developer of gambling entertainment solutions will leverage the new office to provide service support to the company’s customers in the EMEA region.

Aruze Unveils a European HQ

From now on, the Dutch office will serve as the company’s European HQ, Aruze announced. The company noted that the launch of the new office comes in the wake of increased sales and installations of Aruze products in Europe, the Middle East and North Africa. The new office will, therefore, serve these regions, providing the manufacturer’s clients with the support they need.

According to Aruze Gaming, this focused regional approach is something that the company hopes to capitalize on as its products grow in popularity. The new office also attests to the manufacturer’s ambition to grow into a global provider of casino solutions.

Aruze Gaming is famous for providing solutions tailored to the needs of a huge variety of casino players. The company offers classic games such as Lucky Roulette, ETGs like BlackJack and many modern iGaming titles.

One of the brand’s flagship solutions is the proprietary Activ-Play technology and the casino-arcade hybrid games it powers. These games leverage the same tech used in the development of slots. However, the main difference is that they are much more engaging, opting for an arcade playstyle.

The New Office Will Help Aruze Connect with Local Clients

The office will be inaugurated by four Aruze team members but the company plans to further expand the local team within the next few months.

David Meacher, Aruze Gaming Europe’s director of business operations, spoke about the opening of the new office. He reasserted that the European HQ came amid rapid expansion for Aruze in EMEA. Meacher noted that the team will allow the manufacturer to strengthen its ties with local clients.

Our customers are invaluable to us, and bringing ourselves that much closer to them will strengthen our relationship and understanding of these specific markets, as well as provide more in-depth and personalized service and sales support.

David Meacher, director of business operations, Aruze Gaming Europe

As Aruze expands in Europe, it plans to bring more of its signature luxury cabinets to the region. The provider will continue to supply local operators with its state-of-the-art machines, including cabinets such as the Muso Curve 43 and 55, and Muso Triple 27 and 32, which all provide thrilling gaming experiences.

Aruze concluded its announcement with a reminder that its products will be displayed at booth S9-330 at ICE 2023.

Online sports betting has been legal in New York for about a year now. The market is flourishing but some politicians are seeking to expand it further, which would result in a decrease in tax rates.

Senator Addabbo Wants to Welcome More Sportsbooks into the Empire State

Introduced by Senator Joe Addabbo, SB S1962 is a measure that, if passed, would increase the total number of licensed sportsbooks. This would, most importantly, decrease the overall online sports betting tax rate. The measure was introduced by Addabbo yesterday and handed to the Senate Committee for Racing, Gaming, and Wagering.

As outlined in the measure, it would “amend the definition of sports wager to include other things of value.” It would also introduce important changes to the licensing requirements for operators that wish to offer mobile sports betting products. Lastly, it envisions the introduction of several new sportsbooks and the adjustment of tax rates in accordance with the number of operators.

According to SB S1962, the New York State Gaming Commission is to have fourteen licensees by January 31, 2024, and sixteen operators by January 31, 2025. In short, if the bill passes, New York will issue licenses to seven new sportsbooks by 2025.

As soon as the 13th license is issued, the New York online sports betting tax rate would fall to 35%. Then, once the 15th operator hits the market, the rates would be further reduced to 25%. The bill also notes that new sportsbooks would have to pay a $50 million licensing fee.

Sportsbooks Are Unhappy with the Current Tax Rate

As of the time of this writing, New York’s online betting market has nine licensees, which are being subjected to ruthless taxation. Online sportsbooks in the Empire State have to pay 51% of their revenues as taxes.

Major operators have been quite unhappy with the state of affairs, with BetMGM threatening to tone down on its operations in the Empire State and Caesars Entertainment’s chief executive officer, Tom Reeg, calling the tax rate “ridiculous.”

Despite the disgruntlement of operators, the 51% tax rate has been quite beneficial to the local economy. According to official data, online sports betting operators paid $693 million in taxes last year. While this may seem lucrative at first glance, high taxes may prove to be a double-edged blade as certain operators are now considering decreasing their operations in the state.

Yet, lawmakers may be unwilling to risk the current profitability as a previous measure, introduced by Gary Pretlow in March 2022, could not pass into law.

The international casino-entertainment company that has access to 18 OSB licenses and owns 15 casinos has chosen the experienced chief financial officer and strategic advisor for her “deep finance, operations, and strategy expertise”, as stated by Bally’s chairman of the board Soo Kim. 

On Board in Numerous Sectors 

With an accumulated experience of over two decades and counting, Bally’s new member has proven her worth and shown her skills on many boards in a number of different sectors, with top corporations, government organizations, and non-profit companies on her resume. Harris has shown her leadership and financial executive potential in fields like private equity, venture capital, real estate, insurance, health and wellness, retail, and financial services.

Until recently, Harris has taken the position of inaugural global vice president of diversity and inclusion for International Game Technology. The latter is a multinational gambling company that creates slot machines and additional technology used in the gambling field with headquarters in London and major offices in Rhode Island, Las Vegas, Rome, and Providence.

Before that, Harris was also MIB Group Holdings’ executive vice president, chief financial officer, and treasurer. MIB Group is a long-standing and highly trusted company that delivers one-of-a-kind data solutions that advance the life insurance industry.

Harris Is Delighted to Join Bally’s Corporation

In her new position, Harris and her team will be responsible for looking into the receipt of regulatory approvals. Commenting upon the news, Harris expressed her honor to be joining “such an outstanding group of individuals” as part of Bally’s board. She also said that she was looking forward to using her own expertise and perspective to support the ongoing growth and expansion of the company. 

At the moment, Harris is a board member in publicly traded 1847 Holdings LLC, a company that offers consulting and advice and acquires small to medium size businesses in different industries. What’s more, she is a member of CareFirst Blue Cross Blue Shield’s board and is a trustee of the District of Columbia Retirement Board. 

In December 2022, Bally’s managed to obtain a positive vote from Chicago’s City Council on an amendment to Planned Development No. 1426. The respective amendment helped the company get one step closer to seeing its dream to build a new flagship casino in the city turn into reality. The $1.7 billion project would see a casino spreading over one million square feet, together with a 500-room hotel, a rooftop bar, an event space, and an open space.

As a result of the deal, the operator’s customers can now enjoy a thrilling selection of TVBET titles.

TVBET Expands Reaches Far into LATAM

As agreed, the supplier integrated its odds-based live games into Pixbet’s platform, allowing fans to experience exciting gaming thrills. Following a speedy integration, the titles in question are already available on Pixbet.

According to TVBET, the newly-integrated games are fast-paced and intuitive, allowing customers to quickly get into playing. Just like all of the company’s products, its live casino games boast supreme quality. The content is broadcast 24/7 from the supplier’s Warsaw-based studio, allowing players to enjoy it anywhere, anytime.

Meanwhile, Pixbet, TVBET noted in its official release, is an experienced operator that offers a huge choice of best-in-class online gambling and sports betting experiences. The company is known for its wide range of sports markets and rich variety of markets, offering betting options for football, soccer, basketball, tennis, table tennis, volleyball, beach volleyball, handball, baseball, boxing and MMA.

In addition, Pixbet customers can expect to find a diverse list of live games, online casino games and slots. The operator’s live casino offering has now been expanded thanks to the agreement with TVBET.

TVBET Wants to Engage LATAM Customers with Its Best Products

Utku Sarper, TVBET’s sales lead, released a statement about the new partnership. He noted that the Latin American iGaming market hides “amazing prospects” for his company, making the partnership with Pixbet a truly valuable one. Sarper added that the company is excited to join the local market through a partnership with a respected local operator such as Pixbet.

With Pixbet, we work under the one goal – to deliver the best products to the region, and we will pursue this aim.

Utku Sarper. sales lead, TVBET

TVBET excels in making online content that is based on already popular titles. As a result, the company takes inspiration from TV games to produce content that is both familiar and innovative at the same time. TVBET and its exciting games tend to attract a regular stream of players, helping its client operators improve profitability.

Following its announcement, TVBET used the opportunity to remind industry enthusiasts that its team will visit ICE London on February 7-9, 2023. Its stand, S4-130, will be open to all people who are interested in learning more about the supplier and its products.

In other news, in November, the supplier teamed up with Monotech, integrating its live casino games into the latter company’s platform. In December, TVBET launched with BlueOcean Gaming and its GameHub aggregation platform.

People who have been directly or indirectly affected by problem gambling will be eligible for the independent charity’s Money Guidance Service. This means that they will benefit from the aid needed to get back on track with the help of the new support program.

Support Via the National Gambling Helpline Is Open 24/7

GamCare’s new service is an excellent release in the context of the ongoing cost-of-living crisis that has been affecting households in the two named areas. The organization will operate the National Gambling Helpline as part of the new service. The helpline will remain open on a 24-hour basis, seven days a week, providing people with practical advice, tips, information, and additional support regarding gambling free of charge. 

Additionally, Leeds and East Midlands individuals looking for more guidance can benefit from one-to-one support sessions completed with the help of the Leeds Community Gambling Service which offers free and fully confidential face-to-face, phone, and online support. 

Similar support sessions will be provided in the East Midlands, thanks to the dedicated GamCare East Midlands crew that is ready to offer the entire array of free and flexible services for anyone who has been financially affected by gambling problems. The services will be easily accessible for people living in Nottingham, Lincolnshire, Derby, Peterborough, Northampton, and Leicester. 

What Will the Money Guidance Service Teach?

Anyone reaching out for help via the Money Guidance Service will receive money guidance meant to help them more easily comprehend their spending habits, manage their spending budgets, or recognize what are their spending triggers. At the same time, they will learn how to set the necessary boundaries and receive advice regarding additional lifestyle changes that could help them regain their financial balance.  

The guidance service will also provide information on how people affected by their loved ones’ gambling habits can extract their finances from the gambler whenever needed. They will also be taught how to understand their own rights when involved in a relationship with a gambler and how to access the support that is available to them. 

One in Seven People Called the National Gambling Helpline in 2022

GamCare’s service manager for East Midlands, Nicola O’Neill, explained that one in seven people felt the need to contact the National Gambling Helpline in 2022 because of someone else’s gambling. O’Neill this way justified the need for the new services, further commenting “it’s important that there are services available to support others who are affected”. He went further to explain that it is imperative to understand the financial implications of other people’s gambling for long-term recovery. 

According to a YouGov survey issued last year and commissioned by GamCare, 44% of Yorkshire and the Humber areas expressed their worry regarding their financial situation. At the same time, more than 48% of respondents in the East Midlands also described themselves as being “worried.” Even more, 59% of the survey’s participants located in Humber and Yorkshire said that they had gambled in the previous 12 months, with 56% of interviewed East Midlands residents doing the same. 

In November 2022, Gamcare announced a new Code of Conduct would become valid for land-based operators. During the same month, Young Gamers and Gamblers Education Trust and GamCare’s educational programs were revealing positive changes.