Rivalry, a Toronto-based online betting and gaming operator, has significantly scaled back operations while assessing future strategic options. The company’s board approved the move following performance fluctuations and ongoing talks with outside parties about possible transactions involving its assets or corporate structure.

The operator immediately suspended player activity on its platform and began returning funds to customers. At the same time, management introduced broad cost-cutting measures, including workforce reductions and tighter operating expenditures. Company representatives indicated that these steps aim to stabilize finances during the evaluation process.

Operations Scaled Back While Options Reviewed

Company leadership confirmed ongoing discussions with third parties about potential deals. According to the statement, “However, in light of recent performance volatility, the Board has determined to materially reduce the scale of operations while assessing whether a strategic transaction or other alternative can be advanced.”

Management outlined several possibilities under consideration in a press release. These include asset sales, corporate transactions, restructuring initiatives, or other strategic outcomes. The company stressed that no outcome remains guaranteed. Officials noted that “there can be no assurance that any strategic alternative will be completed or that operations will continue in their current form.” Updates will follow only if developments materially change the situation.

Rivalry also confirmed that withdrawals continue in the ordinary course while the platform remains paused. The company emphasized that player funds are being returned.

Rivalry operates online wagering services covering esports, traditional sports betting, and casino gaming. Its subsidiary holds an Isle of Man gambling license dating back to 2018, along with internet gaming registration in Ontario. Additional authorization includes a Northern Territory Racing Commission license in Australia, while operations extend into several grey markets, particularly in Latin America.

Historically, the company positioned itself strongly within esports betting, targeting digital-native players. Its brand strategy emphasized internet culture and engagement with younger demographics, particularly Gen Z consumers. Earlier corporate communications described the company as “strategically positioned at the intersection of gaming and internet culture with marketing that spreads globally through unignorable creative work. The connective thread … is a highly nuanced understanding of Gen Z’s consumer behaviours, its connectivity to gaming and internet culture, and our ability to transform it into a successful product experience that is well-differentiated from the pack.”

Operational adjustments began in 2024 when Rivalry expanded beyond esports into traditional sports betting, casino products, and fantasy offerings. That period also brought a shift toward cryptocurrency integration, including the launch of its own token and acceptance of digital assets such as Solana-based payments. Management framed those initiatives as efforts to connect with technologically focused bettors and respond to online cultural trends.

Recent Performance And Financial Context

Corporate restructuring continued through 2024 and 2025, including multiple rounds of layoffs and salary reductions among senior executives. Leadership indicated at the time that product redesigns, sportsbook upgrades, revised casino offerings, and a VIP rewards system formed part of a broader repositioning strategy.

Later performance updates suggested mixed outcomes. One public statement cited record quarterly results in Ontario, reporting a 240% year-on-year deposit increase alongside a 100% rise in wagers. The company also recorded three consecutive quarters of revenue growth and reduced operating expenses by 58% year over year.

CEO Steven Salz said during that period: “Rivalry enters its next chapter on a stronger, more sustainable foundation.” He added, “Rivalry is emerging from its transformation as a leaner, sharper, and more resilient business. The strategic shift we began last year continues to deliver.”

Financial data nevertheless showed continuing pressure. Net losses improved substantially in 2025, dropping by 67%, but figures released late in the year still placed the company close to $2 million in deficit.

Management now evaluates its next steps while platform activity remains paused. The board’s decision signals a period of uncertainty as the operator considers structural changes, potential transactions, or other strategic outcomes.