Along with its financial results for the quarter ending September 30, 2024, Rivalry has announced the resignation of Kirstine Stewart as a director of the company, effective December 20, 2024.
“It has been a great pleasure serving on this board and being a part of the incredibly talented and dynamic team at Rivalry for the last three years,” said Kirstine Stewart.
The quarterly figures show an increase of 51 per cent as compared to the average of the trailing 2024 period, and by 70 per cent as compared to the trailing three-year average since launching the initial set of new product features in October.
Betting handle for the quarter was US$79.9m, and adjusted revenue, was $6m, inclusive of the $3m in deferred revenue for NUTZ.
“From the start of the third quarter through to the release of these results, we have undergone the most substantive evolution of our business since founding,” said Steven Salz, co-founder and CEO of Rivalry.
“This work was done to better attune ourselves to an evolving online gambling market where cryptocurrency has become the global payment method of choice, and to align our offering with the experiential expectations of the players driving this industry-wide shift.
These initiatives were set in motion during the second quarter alongside the announcement of Rivalry Token, and I’m proud to say we are emerging out the other side of this undertaking as a fundamentally leaner company, and better positioned for growth.”
