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Rivalry Reports Q2 2025 Results Highlighting Record Unit Economics, Structural Efficiency, and Strategic Progress

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY), an internationally regulated sports betting and media company, today announced financial results for the three and six-month period ended June 30, 2025 (“Q2 2025”). All dollar figures are quoted in Canadian dollars unless otherwise noted.

Q2 2025 marks Rivalry’s second full quarter operating under its restructured business model initiated in late 2024, centered on efficiency, improved player monetization, and deeper operational discipline. The Company’s results continue to demonstrate the impact of this shift, with record net revenue per player, reduced expenses, and a significantly narrowed net loss.

“We’ve rebuilt Rivalry into a lean, high-performance engine,” said Steven Salz, Co-Founder and CEO of Rivalry. “Player monetization is at all-time highs, the product is stronger than ever, and we’re doing more with less.”

Key Highlights

  • Net revenue in Q2 2025 increased 24% sequentially to $1.6 million, up from $1.3 million in Q1 2025, despite a declining expense base and completely flat marketing spend.
  • Operating expenses declined 62% YoY to $3.6 million, down from $9.5 million in Q2 2024, reflecting substantial cost reductions and improved operational focus.
  • Net loss narrowed 59% YoY to $2.19 million, down from $5.37 million in Q2 2024, and improved sequentially from $2.99 million in Q1 2025.
  • Average Customer Acquisition Cost payback across H1 2025 was approximately 1.5 months, reflecting improved funnel conversion, higher player value, and stronger retention – all achieved under constrained spend conditions.
  • Run-rate monthly operating expenses remain approximately $600,000 USD, consistent with the Q1 2025 press release.

Adjusted Operating Metrics

As with Q1 2025, a meaningful portion of Q2 2025 expenses were non-recurring or non-operational, including annual audit costs, regulatory fees, and legacy vendor payments from prior periods. On a run-rate basis:

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  • Adjusted G&A expense1 was $1.7 million, compared to the reported $2.5 million.
  • Adjusted Technology and Content expense1 was approximately $440,000, versus $854,000 reported.

These adjustments reinforce that Rivalry is operating increasingly closer to breakeven on a structural basis, with the Q2 2025 reported net loss largely a function of historical payables and costs from prior quarters.

Record Player Economics

Performance improvements continued in Q2 2025, with record-high player monetization across multiple dimensions. These gains were driven by an improving product, high value player segmentation, enhanced onboarding, retention, and engagement improvements across the platform.

  • Net revenue per player increased 49% quarter-over-quarter, and was 210% higher than the historical average prior to the Q4 2024 transformation.
  • Wagers per player rose 7% quarter-over-quarter, and nearly 300% above the pre-rebuild average.
  • Average monthly deposits per player increased 28% quarter-over-quarter, following a 175% increase in Q1 from historical levels.
  • Deposit frequency per player climbed 22% quarter-over-quarter, compounding earlier gains, up 115% from historical levels in Q1.

Strategic Review and Operational Focus

Rivalry’s previously announced evaluation of strategic alternatives (the “Strategic Review”) remains ongoing. The Company continues to explore a range of potential outcomes aimed at maximizing shareholder value. There is no assurance regarding the timing or results of the Strategic Review.

As part of the Strategic Review, Rivalry is focused on:

  • Normalizing the cost base to the aforementioned run rate by resolving non-recurring liabilities and payables from prior periods.
  • Activating a controlled growth strategy, supported by high marketing efficiency and a 1.5-month Customer Acquisition Cost payback average observed throughout 2025.
  • Targeted cost optimization, with additional reductions being assessed for H2 2025.

“This Strategic Review is about enabling growth from a fundamentally stronger base,” said Salz. “We’ve rebuilt the engine. Now we’re focused on unlocking its full potential.”

The post Rivalry Reports Q2 2025 Results Highlighting Record Unit Economics, Structural Efficiency, and Strategic Progress appeared first on Gaming and Gambling Industry in the Americas.

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Belatra unveils Lucila M. Barletta as new Head of Accounts LatAm

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Belatra Games, the specialist online slots developer, has unveiled Lucila M. Barletta as its new Head of Accounts LatAm as the company accelerates its expansion across the region.

Lucila M. Barletta, Head of Accounts LatAm at Belatra, said: “Latin America is one of Belatra’s key growth engines for the long term. My goal is to help Latin America reach its full potential within the global gaming landscape. This region has incredible energy and growth opportunities, and I see my role as ensuring we’re not only present, but also adding real value and building long-term, meaningful partnerships.”

Latin America is a cornerstone of Belatra’s global growth strategy, with the company investing in regional talent, dedicated account management, and tailored game content designed specifically for local audiences.

Barletta brings valuable experience that combines her people-focused skills with business development, having worked on creating strategic alliances, integrating games into diverse markets, and gaining deep insight into the dynamics of a fast-moving industry.

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Belatra will also be presenting its latest slot innovations at SBC Summit Lisbon (Stand B523) highlighting its mobile-first, immersive content built for global reach but with local flavour. Visitors will be treated to an unforgettable experience inspired by Blast the Bass, Belatra’s smash-hit slot that exploded onto the market with massive success. There will also be  a themed bar built around the game’s legendary energy, giving guests a taste of the excitement through a special menu served by Belatra’s expert team.

The post Belatra unveils Lucila M. Barletta as new Head of Accounts LatAm appeared first on Gaming and Gambling Industry in the Americas.

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ETPL APPOINTS LONDON-BASED OAKVALE CAPITAL AS EXCLUSIVE INVESTMENT BANKER TO LEAD CAPITAL RAISE AND GROWTH STRATEGY

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The European T20 Premier League (ETPL), an ICC-approved T20 league co-owned by Abhishek Bachchan and backed by Cricket Ireland, Cricket Scotland, and the Royal Dutch Cricket Association, has appointed Oakvale Capital as its exclusive investment banker.

“Oakvale’s deep expertise in sports finance will be a game-changer for ETPL’s long-term vision. We look forward to working closely with their expert team to help bring our event to fruition,” said Warren Deutrom, CEO, Cricket Ireland.

“Oakvale is one of the leading London-based investment banks in the sports and gaming ecosystem. Their sector depth, global network, and track record advising rights-holders, clubs, and technology platforms make them the right partner for ETPL as we scale,” said Saurav Banerjee, Co-owner and Director, ETPL.

“We’re excited to support ETPL’s bold and innovative approach to cricket. The vision to elevate the sport in Europe with a premium, differentiated offering aligns well with Oakvale’s strategic focus in global sports properties,” said Sandford Loudon, Partner, Oakvale Capital.

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Blending world-class cricket with a distinctively European experience, ETPL aims to redefine the sport through elite talent, immersive fan experiences, and data-driven innovation. In addition, KPMG in India has been appointed as ETPL’s strategic advisor.

 

The post ETPL APPOINTS LONDON-BASED OAKVALE CAPITAL AS EXCLUSIVE INVESTMENT BANKER TO LEAD CAPITAL RAISE AND GROWTH STRATEGY appeared first on Gaming and Gambling Industry in the Americas.

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WinSpirit and Casino Guru Turn Responsible Gaming into a Trend

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Talking about Responsible Gaming (RG) is nothing new in iGaming — but doing it in a way players actually enjoy is rare. For WinSpirit, it became a chance to do what the brand does best — think differently, engage, and prove that even the most serious topics can be turned into content players actually want to share.

Instead of burying RG in disclaimers or policy pages, WinSpirit brought together their creativity and  expertise of Casino Guru to turn it into a SmartPlay Social Media campaign.

Data-Driven Creativity

Before launching the campaign, WinSpirit turned to its community with a simple question: what do you really know about Responsible Gaming? Nearly 800 players responded, and the results were telling.

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  • 63% knew the primary goal of RG.
  • 46% felt enabling those tools was easy and knew where to find information.
  • 56% highlighted WinSpirit’s own email disclaimers (launched this year) as the most effective reminders.

The findings confirmed that awareness was already strong, but also showed that some players still found RG “too complicated.”

“When we asked our community which reminders help them stay mindful, 56% highlighted the email disclaimers developed by WinSpirit Casino this year as the most effective”, – said WinSpirit analytics team manager.

This insight revealed a gap: while some forms work well for many, others may need a different touchpoint to simplify the message. Social media naturally became the next logical step to address the topic.

A Campaign Built for the Feed

The six-part series was crafted not just to inform, but to feel native to social media culture. Players swiped through “red flag or green light” checks, busted common myths with quick-hit facts, and even debated an “unpopular opinion”: games are built for entertainment, not profit. The final self-check felt less like a form and more like a challenge — engaging, fast, and easy to share.

What elevated the initiative further was the expertise behind it. WinSpirit teamed up with Šimon Vincze, Head of Sustainable & Safer Gambling at Casino Guru — a rare pairing of a progressive operator and an independent authority. In an industry where these voices often stay on opposite sides, this collaboration showed the power of combining creativity with credibility.

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Here is what Šimon Vincze said about the initiative: “I am glad we could support WinSpirit on this journey and help bring a successful campaign to life by combining expert insights with natural and engaging communication. Their PR team did an excellent job, as demonstrated by the statistics. Player protection is an integral part of the gambling industry’s development. Sooner or later, most players will expect a certain level of well-being and care. Those who start on this journey earlier will benefit from a competitive edge and a loyal player base.”

Impact That Lasts

Social media reach for the campaign exceeded 10,000 people.

Social Media Engagement achieved 53% and boosted monthly metrics of Social Media pages by 80%. But the main result is still on the way – in the first month alone, WinSpirit saw a 12% rise in player support queries about Responsible Gaming tools.

More importantly, Responsible Gaming shifted from being background noise to a conversation players wanted to join. Awareness turned into curiosity — and curiosity sparked deeper understanding.

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“This isn’t about ticking boxes,” says the WinSpirit team. “It’s about giving players the confidence and control that keep the game fun.”

For an industry where communication often feels routine, the campaign proved that creativity doesn’t weaken the message — it amplifies it. Even compliance can capture attention when delivered in the language of players.

 

The post WinSpirit and Casino Guru Turn Responsible Gaming into a Trend appeared first on Gaming and Gambling Industry in the Americas.

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