Esports betting company Rivalry.gg is readying for a direct listing on the Toronto Stock Exchange, Gambling News reports. The move would give the company access to new funds and also make it easier to navigate the regulatory landscape, says CEO Steven Salz.
The company has 120 days to go public as it has just completed a new funding round through subscription receipt, which now has $22 million in investors’ funds in an escrow account. The money will be released as soon as Rivalry lists on the STE, and failing that, the money will be returned to investors.
Rivalry has previously secured another funding round this year to the tune of $21.5 million, marking a series of successful investment moves that have given the esports betting site much of its clout. Having achieved recognition as an esports bookmaker, the company is now looking to expand. Read more.
