Esports betting operator Rivalry has officially been listed on the TSX Venture Exchange.
In June, Rivalry announced its intention to take the company public through a direct listing on the Toronto Stock Exchange by October. The company will commence trading from October 5th under the ticker symbol ‘RVLY’.
According to the release, Rivalry looks to execute a range of priorities following the company’s public listing. This includes leveraging its esports betting expertise to grow the operator’s traditional sports betting and casino games businesses.
Moreover, Rivalry has revealed its intention to develop and introduce new products, whilst also increasing its presence in regulated markets. The operator expects to launch its sports betting services in Australia in Q4 2021.
Steven Salz, Co-Founder and CEO of Rivalry, 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.”
Prior to its public listing, the esports betting company raised $22m (~£15.9m) in funding, led by Eight Capital and Cormark Securities. Rivalry joins the growing list of esports entities that are publicly listed.
In December 2020, esports bookmaker Luckbox made its debut on the TSX Venture Exchange. Other publicly listed esports companies include Guild Esports (London Stock Exchange), Overactive Media (TSX Venture Exchange) and ESE Entertainment (TSX Venture Exchange), among others.
Rivalry has also announced a contract with Vincic Advisors to provide investor relations and strategic communications services.
Esports Insider says: Rivalry’s intention to go into the TSX Venture Exchange has been public knowledge for a few months, however, this shouldn’t understate how big this is for the company. As esports betting continues to grow, it’ll be interesting to see how the company continues to develop.