Latest News
Rivalry Reports Strong Q1 2025 KPI Growth, Validating Strategic Pivot Amid Temporary Margin Variance
Rivalry Corp. (TSXV: RVLY) (OTCQB: RVLCF) (“Rivalry” or the “Company”), the leading sportsbook and iGaming operator for digital-first players, today shared preliminary key performance indicators (“KPIs”) and revenue figures for the three months ended March 31, 2025 (“Q1 2025”), underscoring the success of its strategic transformation and path toward sustainable, profitable growth. All dollar figures are quoted in Canadian dollars.
Q1 2025 marks the first full quarter under Rivalry’s revamped operating model, following significant changes to product offerings, organizational structure, cost management, and user acquisition strategies. Underlying KPIs show improved unit economics, deeper engagement, and structural momentum toward long-term sustainability.
Revenue in the quarter was lower than prior periods – a result of Rivalry’s deliberate shift to a leaner, more efficient model – creating a stronger foundation that the Company is now building on. The shortfall also reflected temporary variance in sportsbook hold, amplified by a strategic focus on high-value and VIP players. The Company believes that these segments drive significantly greater long-term value but can introduce short-term volatility as they scale.
“Our Q1 KPIs are delivering tangible results that validate our strategic shift,” said Steven Salz, Co-Founder and CEO of Rivalry. “The structural changes we implemented over the past six months – from streamlining operations and refocusing the product, to modernizing our platform and concentrating on high-value players – are now clearly reflected in our KPIs. We’re operating more efficiently than ever, generating significantly more revenue per user, and moving closer to achieving sustainable profitability.”
Q1 2025 Highlights1:
- Operational Efficiency Up 400%: In Q1 2025, Rivalry generated over 400% more net revenue per user per dollar of operating expense as compared to its average before the strategic overhaul. This marks a significant leap in cost efficiency and operating leverage, validating the impact of recent changes.
- Shift to High-Value Players Driving 175% Increase in Player Monthly Deposits: Total deposits rose 36% month over month in February 2025 and another 12% in March 2025, despite a smaller active user base than past peaks. In Q1 2025, average monthly deposits per player were just over 175% higher than the periods prior to Rivalry’s October 2024 strategic overhaul – a clear result of the Company’s focus on acquiring and retaining high-value players, while improving unit economics and lowering variable costs.
- 115% Increase in Monthly Deposit Frequency: In Q1 2025, average monthly deposit frequency per player increased by 115% compared to the average prior to Rivalry’s October 2024 rebuild – signaling strong user re-engagement and validating the Company’s refined product experience and more targeted player strategy.
- All-Time High in Monthly Betting Handle per User: Monthly betting handle per active user hit a new all-time high in March 2025, marking the fifth consecutive month of record-breaking engagement and deeper player value.
- Record Revenue per User: In March 2025, monthly Gross and Net Revenue per active user reached all-time highs (normalized for margin variance), extending a four-month streak of consistent revenue per active user growth and player monetization strength.
- Month over Month Active User Growth: Monthly active players grew by 9% in March 2025, following a similar increase in February 2025, despite a significantly reduced global marketing budget compared to the same period last year.
- Ontario Regulated Market Showing Strong, Improving Unit Economics: Since the Company’s operational shift, Rivalry’s Average Revenue Per Playing Account (“ARPPA”) in Ontario – a monthly metric defined by and publicly reported by gaming regulator iGO – has generally trended in line with the market average, and in some months exceeded it by as much as 50%. ARPPA has also nearly doubled compared to pre-overhaul levels at Rivalry, reflecting strengthening unit economics supported by efficient customer acquisition, with customer acquisition cost paybacks consistently within single-digit weeks.
Operational Momentum and Efficiency Gains Reflect Structural Progress
The Company’s Q1 2025 performance reflects the first full quarter operating under a significantly leaner structure, with total monthly run rate operating expenses reduced by approximately 65% as compared to prior peak periods.
Betting handle in Q1 2025 was $58.2 million, and net revenue $1.3 million1, for a net revenue margin of 2.3%. This compares to Rivalry’s full-year 2024 net revenue margin of 4.4%1, with the Q1 2025 margin variance largely attributable to short-term fluctuations in sportsbook hold. This was amplified by the Company’s strategic pivot toward high-value and VIP players – segments that offer significantly greater long-term value but naturally introduce more short-term variability in margin performance as they scale.
On a normalized margin basis, Rivalry’s Q1 2025 net revenue would have covered approximately 75% of current run rate operating expenses, inclusive of additional cost reductions completed in early April that lowered monthly operating expenses by approximately $140,000. Growing user value, rising engagement, and stronger unit economics reflect encouraging momentum toward long-term financial sustainability.
“The KPIs are telling the real story – user value is up, efficiency is up, and player engagement is the strongest we’ve seen in the Company’s history,” said Steven Salz, Co-Founder and CEO of Rivalry. “Even with soft margin outcomes in Q1 2025, the model is showing strong underlying signals. As sportsbook hold normalizes and our cost base becomes leaner, we believe we’re moving in the right direction.”
Over the past six months, Rivalry has reduced monthly run rate operating expenses by approximately $1.7 million per month, inclusive of the recently completed April 2025 reductions. These reductions have been enabled by a fully modernized core product with improved site performance and ongoing development velocity across key revenue-driving features. The Company has also realized efficiencies through vendor rationalization and the rollout of AI-driven tools across departments.
“We’ve built a stronger, leaner, and more focused Rivalry,” Salz added. “Our improved KPIs and disciplined cost management have created a healthier foundation. With continued operational momentum and a re-energized product, we believe we’re on a promising path forward.”
The post Rivalry Reports Strong Q1 2025 KPI Growth, Validating Strategic Pivot Amid Temporary Margin Variance appeared first on Gaming and Gambling Industry in the Americas.
Chicken X & Friends
Million Games unveils multiplayer crash game Chicken X & Friends at ICE
Million Games is heading to ICE 2026 with its most ambitious release yet. Chicken X & Friends is a real-time, unlimited multiplayer crash game and the official sequel to their award-nominated hit Chicken X.
Set across a chaotic multi-lane highway, Chicken X & Friends brings the beloved Jack Chicken back into action. This time, he is not crossing the road alone. Players jump into a shared, always-on playground where gameplay never pauses and no sessions need to fill. There is no waiting. Players can join at any moment and start their run instantly.
The game introduces a genre-first for crash gameplay. Unlimited, real-time multiplayer gameplay. Players see each other live on screen as they navigate traffic, build multipliers, and decide when to cash out before the crash hits.
“This is a big moment for us,” said Thomas Nimstad, CEO at Million Games. “Crash games are built on tension and timing. With Chicken X & Friends, we’ve made that tension social. You’re not just watching a multiplier climb. You’re watching other players make decisions in real time. We’re pushing the format further by making it social, visible, and strategically deeper.”
Player choice at the core
Gameplay takes place across multiple traffic lanes, each offering a different risk-and-reward profile. Slower lanes feature lighter traffic and steadier multiplier growth. Faster lanes increase volatility with denser traffic, but multipliers rise much quicker.
Players actively decide where to play. Stay in safer lanes. Push into danger lanes. Or move between them as traffic patterns change. Every jump is a choice, and every choice affects potential payout.
Safe zones offer a brief pause from traffic, but they are not an escape. Stay too long and the game will automatically cash you out, keeping the pace fast and the pressure on.
Movement is intuitive and fast, controlled via taps or directional buttons, allowing players to react instantly as traffic closes in.
Always social, always competitive
Up to eight players appear live on screen in each public playground. Jack Chicken represents you, while other players appear as pigeons, creating instant visual awareness of who is still in the race. The current top performer is crowned “the king”, highlighted with a unique skin and a visible live multiplier.
Leaderboards track the best runs over the past hour and the past 24 hours, allowing players to compare performance, chase rankings, and return repeatedly to improve their position.
Players can choose how they want to play. Join a public playground by default and compete with others. Create a private room and invite friends. Or play solo without other players visible. The experience adapts to different play styles while keeping the same high-pressure core.
Play it first at ICE
Chicken X & Friends will be showcased at ICE 2026 ahead of its official launch on 28 January. Visitors can experience the game live at the Million Games stand 2C72, where a daily tournament will run throughout the show, giving attendees a hands-on look at real player behaviour, competition, and pacing.
The original Chicken X was shortlisted for Crash Game of the Year and quickly became one of Million Games’ most played titles. With Chicken X & Friends, the studio expands the format with unlimited gameplay, deeper strategy, and visible multiplayer tension.
Fast to enter. Hard to master. Impossible to ignore.
Operators and partners interested in early access or distribution opportunities are encouraged to visit the Million Games team at ICE 2026.
The post Million Games unveils multiplayer crash game Chicken X & Friends at ICE appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
QTech Games shepherds more creative content through Wild Sheep Games
QTech Games, the leading game aggregator for emerging markets, has continued to build the strong momentum in its pipeline, thanks to its exclusive deal with the rising star supplier, Wild Sheep Games.
Integrating content from such a forward-thinking studio, ably abetted by its founders’ combined decades of experience and expertise in the slots sector, adds yet more creative muscle to QTech Games’ offering, which is taking the broadest spectrum of online games to emerging territories with established names sitting alongside the industry’s most exciting up-and-coming providers – of which Wild Sheep Games is another timely example.
Wild Sheep Games is known for its high quality slots and engaging gameplay, which has manifested itself in a range of ten popular initial releases, with two more new titles scheduled to follow each week until the end of 2026. These titles will comprise a wider library of constantly upgraded content, all of which is now exclusively available via the QTech Games.
The announcement organically broadens Wild Sheep’s international footprint, unlocking untapped jurisdictions for global growth, where Wild Sheep is looking to make a big impression over the coming 12 months. Philip Doftvik, QTech Games’ CEO, said: “We’re thrilled to unveil this partnership with Wild Sheep, making the point that our diverse portfolio draws from a deep well of established stars and emerging forces in slots provision. Their unique focus on emerging markets perfectly matches our own ethos, while the power of their production line is relentless.”
A Wild Sheep Games spokesperson added: “Wild Sheep Games is growing at a great pace, thanks to our “players-first” mentality to game development and only build high-quality games. This collaboration with QTech will only accelerate that growth. Moreover, every title benefits from Wild Sheep’s RG mantra of great returns, transparent mechanics, and certified integrity. We don’t copy — we craft. Every slot runs on fresh, in-house maths that’s built to keep our partners’ players coming back for more.
“We can’t wait to see how these games perform across a spread of new territories via QTech Games’ preeminent platform for emerging markets.”
To find out more, or book a demo, email: [email protected] or visit: https://wildsheepgames.com/
The post QTech Games shepherds more creative content through Wild Sheep Games appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
2026 Tech Partnerships
eyeDP Partners with idvcheck to Provide Anti-Money Laundering Solutions
eyeDP, the innovative provider of AI-powered document verification technology, has announced a strategic partnership with idvcheck, an international identity verification and customer acquisition specialist.
Per the partnership, eyeDP’s Anti-Money Laundering (AML) services will be integrated into the idvcheck platform, enhancing existing systems to help clients maintain their AML obligations across iGaming, fintech, financial services, and other regulated sectors.
Additionally, idvcheck will integrate eyeDP’s core document verification services including data extraction from unstructured documents; AI-powered data summarisation; content validation; and document tamper and fraud detection. to boost efficiency across its service offering.
This two-way partnership will see idvcheck’s manual review and forensic investigation workflows being fully integrated into eyeDP’s platform, providing built-in failsafe for cases that cannot be automatically verified or more sophisticated requests that require further intervention. This combination of AI-powered verification and human expertise will provide the highest quality document verification and AML protection in the market.
idvcheck currently verifies documents from around 200 countries worldwide, specialising in white-labelled customer acquisition services. By integrating eyeDP’s AML technology, idvcheck will be able to process a higher volume of straightforward cases, more efficiently, whilst enabling its team to focus their expertise on more complex tasks.
Jess Whitehouse, Director of Customer Operations, at eyeDP, said: “This partnership gets 2026 off to a strong start for eyeDP as we continue to grow and establish ourselves as one of the leading document processing companies on the market.
idvcheck has a strong, international presence that will allow our platform to showcase its ability on a larger scale. Together, we can continue to develop identity and document verification solutions that provide efficient, reliable safety checks for our partners.”
Andy Pinks, Chief Operating Officer at Idvcheck, said: “During extensive testing, the benefits of integrating eyeDP’s technology into our existing infrastructure became quickly apparent. Although (at least in its current form) AI cannot replace human experience, the symbiosis of human and artificial intelligence has created immediate operational improvements. This enables us to deliver a more cost-effective and time-efficient service, to all markets, without compromising on quality.
We are excited to be working in partnership with eyeDP to deliver new and innovative products that satisfy the ever-evolving needs of our clients.
The post eyeDP Partners with idvcheck to Provide Anti-Money Laundering Solutions appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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