It’s been a big month or two for esports and sports betting giant Rivalry Corp. Not only has it released their new gambling game Rushlane, as revealed in our interview with Steven Salz back in August, but the company has now become a publicly listed company on the Toronto TSX Venture Exchange.
The shares commenced trading on Tuesday 5th October 2021 under the ticker symbol “RVLY”.
“Next Major Step”
Speaking about the listing, the CEO of Rivalry, Steven Salz commented:
“Listing publicly on the TSXV marks the next major step in Rivalry’s journey. We are building the most comprehensive betting and entertainment experience for the next generation globally, and feel we are just getting started.”
“Our team is grateful for the support of all our early investors and we look forward to continued mutual success.”
At the time of the listing, Rivalry are expected to have the following securities issued:
- 53,225,498 Subordinate Shares
- 2,222,220 multiple voting shares
- 6,382,663 warrants to purchase subordinate shares
- 1,955,372 options to purchase subordinate shares
- 1,581,547 restricted share units
In addition, Rivalry has agreed a deal with Vincic Advisors to provide investor relations and communication services for their first 12 months as a publicly listed company, but the arrangement may be extended if both parties agree.
Venture Liquidity Providers will also provide market-making services to ensure that trading is conducted orderly and to improve the liquidity of the subordinate shares on offer.
Major Expansion Set To Follow?
The public listing on the TSXV could indicate that the planned major expansion into an increasing number of countries around the globe could be set to go ahead, with a particular focus on the development of the mobile esports industry.
In recent times, we have already seen Rivalry making some major changes to its service. Back in August they agreed a partnership with CoinCorner that would facilitate them offering cryptocurrency payments across its services.
And then just last month, the company also announced that it had completed a major overhaul of its website, announcing a number of major upgrades to the site, as well as the promise of more features to be added to the site within the next few months.
They also expanded their presence in Brazil by agreeing a sponsorship deal with 00 Nation to sponsor their 00 Brasil CS:GO team.
There is no doubt that so much has changed on the site since we first conducted our Rivalry review when the site first went live in 2018.
All these strategic decisions, together with the company now being publicly traded, does indicate that Rivalry has ambitions far beyond what it has achieved thus far in its relatively short time in existence and it does appear that increasing its presence in key markets around the world with a major expansion does look like being the next move.
Rivalry follow Luckbox in being another company with its heritage in esports betting and gambling to go public on the Toronto Venture Exchange, with Luckbox doing so back in May this year.