Canada
Exclusive Q&A with Alessandro Sposito, Head of Business Development at ESA Gaming
With Colombia’s regulatory framework widely being heralded as a success, does it allow for greater appetite for innovation within the jurisdiction?
There is absolutely greater appetite for innovation, and we see that with new products being certified all the time. At the same time you can only keep pace with the consumer, especially from a technological standpoint, so it is important to respect their wishes and understand how best to provide a product and an experience that suits their needs.
It is fruitless developing products which are not needed or desired, so it is vital to devise solutions which will add value to a player’s experience. This is encouraged through regulations which clearly work, so Colombia is becoming a hotbed for innovative titles.
LatAm is home to a number of exciting, emerging markets. Do any of these have the potential to be the next big hub in iGaming?
The whole of LatAm is monitoring Colombia and its progress through regulation and its success is a huge stimulus for other countries within the region. Many more opportunities are on the horizon as nations try to follow the example of Colombia. This combined with the lure of taxation and regulation will lead to a natural evolution of the online gaming markets. With such a large, and sports mad, populace, the entire region is very enticing for all.
As with any new emerging market they get to play catch up a bit, but they can also learn so much from more established markets meaning their evolution can be that much faster.
If the countries continue to regulate with success, the entire region could become a focal point for the exciting next phase of iGaming.
How have your products been received in Latin American jurisdictions so far, and what is on the horizon for ESA Gaming in the region?
Together with partners in LatAm we have launched poker with Betplay and it is our ambition to become a leading poker network in Colombia. This obviously relies on shared liquidity within the country, and this again is something we are confident will happen in the very near future. We will also be launching our EasySwipe portfolio in the region with lightweight HTML5 mobile-first games that integrates seamlessly into sportsbooks, allowing users to enjoy the best quality casino games without disrupting the sports betting experience.
Looking further into the future, we want to continue to grow our presence across our entire product range with operators in all of LatAm’s regulated markets.
Will the appetite for niche products, such as esports and virtuals, continue to grow within emerging markets even when sporting events return?
It is inevitable that some will return to what they know and love. While some will strictly focus on sports betting, others have discovered that they enjoy new products, such as esports or virtuals, and will expand their appetites across sports and these newer experiences.
The lack of sport gave a spotlight to these niche verticals, and while they may not now dominate public conscience, the growth afforded will allow for more innovations and a greater level of growth than previously seen for these products that are usually sidelined.
Coljuegos is considering allowing poker liquidity between licenced operators, how important is this for the vertical to truly thrive?
Allowing poker liquidity is fundamental to ensure a level playing field for operators of varying sizes and to ensure poker can really thrive from a player perspective.
If liquidity increases, it will attract more players which will have greater choice, operators will increase revenue, and suppliers will have the perfect proving ground for exciting poker products with a receptive audience.
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Canada
Rivalry Reports Q1 2025 Results Highlighting Strengthened Unit Economics, Operating Leverage, and Strategic Progress
Rivalry Corp., an internationally regulated sports betting and media company, announced financial results for the three-month period ended March 31, 2025 (“Q1 2025”). All dollar figures are quoted in Canadian dollars unless otherwise noted.
Q1 2025 was the first full quarter operating under Rivalry’s restructured model, following a company-wide transformation that began in Q4 2024. This included a strategic shift toward high-value users, deep cost rationalization, significant product upgrades, and tighter execution across every layer of the business. The result is a streamlined, modernized operating model with materially improved performance and long-term leverage.
“This quarter marks the full emergence of Rivalry 2.0 – leaner, sharper, and structurally stronger,” said Steven Salz, Co-Founder and CEO of Rivalry. “We’ve rebuilt the foundation of the business around high-efficiency acquisition, high-value users, and a proprietary product – and we’re already seeing the impact. Rivalry today is not just a leaner version of itself – it’s a fundamentally different company built for scalability.”
Key Highlights
- Net revenue of $1.3 million, consistent with the preliminary results announced on April 16, 2025. While temporary sportsbook margin variance impacted topline outcomes, underlying KPIs continued to improve and validate the strength of Rivalry’s rebuilt model.
- Operating expenses decreased 58% year-over-year to $4 million in Q1 2025, down from $9.6 million in Q1 2024.
- Net loss reduced by 43% to $3.0 million in Q1 2025 from $5.2 million in the prior-year quarter.
- A meaningful portion of Q1 expenses were non-recurring or non-operational in nature, including annual audit costs, regulatory fees, and legacy payables from prior periods. The Company’s adjusted marketing spend during the quarter was approximately $175,000, materially lower than the reported figure due to these factors.
- 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.
- Q2 2025 set new all-time records across key user economics1:
- Net revenue per player increased 49% versus Q1 2025, 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 in Q1 2025 were over 175% higher than the historical average. In Q2 2025, this increased a further 28%.
- Monthly deposit frequency per player in Q1 2025 was up 115% over the historical average, and rose another 22% in Q2 2025.
- Ongoing improvements in VIP identification, segmentation, and servicing, driven by Rivalry’s proprietary Business Intelligence (“BI”) tools and Customer Relationship Management (“CRM”) infrastructure, further contributed to gains in deposit behavior and overall player value.
These improvements reflect the effectiveness of Rivalry’s strategic overhaul – including product modernization, in-house BI tooling, optimized segmentation, and CRM systems that support higher-value customer behavior and lifecycle retention.
Streamlined Operations
Rivalry’s breakeven net revenue is now approximately $600,000 USD per month, down from more than $2 million USD per month a year ago, based on current run rate operating expenses, with further cost optimizations planned in Q3 2025. The rebuilt business is operating on a structurally lower fixed-cost base with proven user economics and performance-ready infrastructure.
“We’ve created an operating model that is not only lean and disciplined, but also high-leverage,” Salz added. “This is a structurally better business than it was a year ago. The team is tighter, the product is stronger, and the KPIs are outperforming – all with limited capital deployment. The engine is rebuilt.”
Strategic Review & Outlook
Rivalry is actively exploring strategic alternatives aimed at maximizing shareholder value. As part of this ongoing process, the Company is also evaluating non-dilutive capital options as part of broader strategic initiatives to accelerate growth. These are intended to complement the broader review and enable Rivalry to fully capitalize on the performance capacity of its rebuilt model.
As the Company progresses into H2 2025, key initiatives include:
- Deployment of a new promo engine, enabling more dynamic and cost-efficient bonus structures.
- Casino-led engagement mechanics, including lootboxes, missions, and summer campaigns to drive offseason activation.
- Geographic reactivations and enhanced CRM, focused on high-value player segmentation and deeper lifecycle engagement.
- Further operating cost reductions in Q3 2025, aimed at lowering the breakeven point and increasing flexibility.
Rivalry’s transformation over the past three quarters has positioned the business with a distinct set of structural advantages: a deeply aligned and experienced team, proprietary technology and BI systems, strong regulatory licenses in Ontario and the Isle of Man, and a globally recognized brand with demonstrated reach. These strengths now form the basis of a highly scalable and differentiated operator in the global online gambling market.
“Rivalry today is a high-performance engine – structurally rebuilt, road-tested, and positioned to scale,” said Salz. “We’re focused on unlocking the next chapter of growth, and the strategic review process is designed to support that path.”
The post Rivalry Reports Q1 2025 Results Highlighting Strengthened Unit Economics, Operating Leverage, and Strategic Progress appeared first on Gaming and Gambling Industry in the Americas.
As of July 11, 2025, the Alcohol and Gaming Commission of Ontario (AGCO) no longer requires Registrar approval for responsible gambling (RG) training programs for casino and lottery employees. This change applies to both the Gaming and Lottery Standards and supports a more flexible, outcomes-based approach.
What’s changing
• Standard 2.5 has been updated to remove the need for Registrar approval of RG training.
• Training must still be mandatory, regularly updated, and based on best practices.
• Employees must understand responsible gambling, their role in player protection, and how to support those showing signs of gambling harm.
What this change means for operators and lottery retailers
• Casino and lottery operators now have more flexibility to design and update RG training.
• Existing PlaySmart training remains valid.
Why this change matters
This change reduces red tape, encourages innovation, and maintains Ontario’s high standards for player protection. This also aligns with AGCO’s outcomes-based regulatory approach and brings greater consistency across gaming sectors, including iGaming.
The post AGCO Updates Responsible Gambling Training Standards for Gaming and Lottery appeared first on Gaming and Gambling Industry in the Americas.
ToonieBet, Soft2Bet’s premier sportsbook and online casino brand tailored for Canadian players, has been named both an Official Sports Betting Partner and an Official Online Casino Partner of the Canadian Football League (CFL).
The multiyear partnership also establishes ToonieBet as an Official Partner of the CFL’s championship game, the Grey Cup. Fans from coast to coast to coast annually gather for Canada’s largest single-day sporting event to celebrate an incredible season, and to witness one team earn the right to hoist the iconic trophy. The 112th Grey Cup will be played at Princess Auto Stadium in Winnipeg on Sunday, November 16.
Fans in Ontario aged 19-and-over will be able to responsibly wager on CFL games through ToonieBet with access to in-game betting and futures. The collaboration will also explore exciting branded online casino experiences on the ToonieBet platform to entertain existing fans and engage new ones.
ToonieBet’s partnership with the CFL underscores Soft2Bet’s ongoing commitment to Canadian sports fans and a further investment in the Canadian sporting tradition, as the deal marks Soft2Bet’s second sports partnership in the country within the last three months, following ToonieBet’s designation as the Official Online Casino Partner of the NHL’s Ottawa Senators, which was recently expanded with a full sportsbook offering.
“This partnership is for the fans. Together with ToonieBet, we will unlock exciting avenues of entertainment, delivering new products, responsible gaming options and unique activations, to better serve the future of fandom. In the stadium, at home or online, we’re doubling down on engagement and innovation like never before,” said Tyler Keenan, the CFL’s Chief Revenue Officer.
“Partnering with the CFL will elevate our robust offerings in the Canadian market and allow us to continue building our passionate sports and online gaming community in Ontario. Our team at ToonieBet is deeply committed to building a premium fan experience, while delivering exceptional customer hospitality and ensuring both responsible and safe game play,” said Steve Spindler, ToonieBet’s Canadian Country Manager.
“We are proud to partner with the CFL and its local teams. This partnership goes beyond visibility – it’s about building relevance and establishing a real connection with fans. Aligning with one of Canada’s most trusted leagues allows us to strengthen our bond with Ontarians and deliver a best-in-class sports betting and gaming experience through ToonieBet,” said Martin Collins, Chief Business Development Officer at Soft2Bet.
Additionally, ToonieBet has been designated as an Official Authorized Gaming Operator of the CFL, allowing Soft2Bet to deliver best-in-class gaming experiences with official CFL data and statistics to sports fans and sportsbook users across Ontario through the ToonieBet platform.
ToonieBet will also serve as the presenting partner of CFL Fantasy, and the Game Tracker in Ontario on CFL.ca and LCF.ca, in addition to being the CFL’s odds provider on the league’s digital scoreboard.
The post Soft2Bet’s Brand ToonieBet Named an Official Sports Betting and Casino Partner of the CFL appeared first on Gaming and Gambling Industry in the Americas.
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