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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.
Africa
Female Protea Team for the Counter Strike 2 esports title to do battle against Namibia – AEC25
Mind Sports South Africa’s Protea Female CS2 team, led by captain Jess Greeff and featuring Avonique van Rooyen, dominated IESF’s AEC24, and emerged undefeated, and punched their ticket to the world stage. The female Protea Team for the Counter Strike 2 Esports Title are trailblazers in female esports and are already making their mark internationally.
To qualify for IESF’s World Esports Championships 2025 (WEC25), South Africa’s Female Protea Team for the Counter Strike 2 Esports Title will be taking on Namibia at15H00 on 21 June 2025.
South Africa’s Female Protea Team for the Counter Strike 2 Esports Title has never lost to Namibia, and both MSSA and the team are confident that the result will be the same as all previous encounters.
The team has shown a few changes from 2024. Jessica Greeff remains the captain, and Avonique van Rooyen and Megan van der Westhuizen too stay on the team with their vast international experience. The two new additions are Kiera McCullum and Kalee Ludick who further add to the team.
MSSA is of the belief that the 2025 Female Protea Team for the Counter Strike 2 Esports Title is the strongest female Counter Strike 2 team to ever represent South Africa.
The full team to represent South Africa at15H00 on 21 June 2025 is:
| Name | Club | Nick | Province |
| Jessica Eleez Greeff (Capt.) | ZAG Academy | heartjess | KwaZulu Natal |
| Avonique van Rooyen | ZAG Academy | avo | Gauteng |
| Kiera McCallum | ZAG Academy | queen | KwaZulu Natal |
| Megan van der Westhuizen | ZAG Academy | m3gz | Gauteng |
| Kalee Ludick | ZAG Academy | creative | Gauteng |
The post Female Protea Team for the Counter Strike 2 esports title to do battle against Namibia – AEC25 appeared first on European Gaming Industry News.
Here are this weeks latest slots releases compiled by European Gaming
PG Soft has launched Jack the Giant Hunter – a cascading-style, 5-reel, 4-row video slot featuring expanding reels and a dynamic multiplier mechanic. Jack the Giant Hunter instantly plants players into an enchanted world where the path to riches is made perilous by a fierce giant. The action unfolds against a backdrop of mythical giants and golden treasure hidden in the clouds.
Spinomenal has dropped its hot new slot, Westside Glory as part of its Adventure Series. Westside Glory is set on the West Coast streets where bling, bravado, and beats make for a platinum title. Framed by palm trees and the iconic Golden Gate Bridge, this 5×3 slot takes players on the ultimate urban experience.
Betsoft Gaming has released Coins of Alkemor: Extreme Magic – Hold & Win, a fast-paced 3×3 slot packed with powerful features and mystical energy. The iconic wizard Alkemor returns in the game that elevates the popular Hold & Win mechanic with three explosive Extreme Features. Players can trigger the bonus with two or more BONUS symbols and at least one WIZARD BONUS—one of which must be EXTREME—awarding three respins and the chance to land magical golden coins.
Reflex Gaming is making waves once again with the launch of Big Game Fishing Golden Catch™, the latest online release in its hugely popular Big Game Fishing franchise, and proudly powered by Yggdrasil. This thrilling new slot reels players into a bright and breezy lake, where Reflex’s iconic fisherman, Fred, returns for another unforgettable adventure. With a 5-reel, 3-row layout, high volatility, and a max win potential of 5,000x the stake, Golden Catch is bursting with fun, flair, and fishy fortune.
TaDa Gaming has released its latest slot Lucky Jaguar 2. This time, the Colourful Jaguar Wild is joined by a Gold Jaguar Wild to ramp up the wins with multiple multipliers, stunning graphics and a humorous soundtrack, alongside the original Lock & Respin bonus game feature. Designed specifically for the LatAm market, where earlier release Fortune Gems had held the record breaking top spot, Lucky Jaguar hit 33%+ of Fortune Gem’s DAU figures within one month.
Million Games and partner studio Black Cat are excited to announce the release of Island Ices, a vibrant 5×4 slot packed with tropical charm and rewarding mechanics. As the second game from Black Cat under the Million Star partner programme, Island Ices brings a refreshing low-volatility experience with a polished aesthetic and summer-ready features. Designed for players who love quick-paced, feel-good gameplay.
SlotMatrix is proud to announce the launch of an exciting new slot – Gold Pigger. This exclusive title introduces players to a fun-fuelled adventure starring Richie and Peggy, two funny piglets with a taste for fortune and a nose for cash prizes. With a 4×6 reel layout and 4096 ways to win, Gold Pigger blends light-hearted design with exciting gameplay mechanics to deliver an engaging slot experience with a win potential of up to 8,086.8X the player’s stake.
Dear passengers, welcome aboard Flight NLC25! Flight Mode is cleared for takeoff and let’s just say, it’s not a typical family trip to Hawaii. After delivering signature slots like Tombstone Slaughter: El Gordo’s Revenge and Duck Hunters, Nolimit City is now taking it to the skies with Flight Mode and definitely not in a boring way.
Thunderkick has unveiled MeJUICEa, the latest addition to its content portfolio that breathes new life into a proven popular theme, reintroducing Greek mythology’s iconic Gorgon with a modern makeover. The 6×5 cluster pays title revolves around the Crush feature, a unique take on the fan-favourite avalanche mechanic.
Push Gaming has launched Fang City, a sleek and suspenseful slot that combines ever-popular Push Gaming features. Set in a futuristic world, this game sees wolves with pointy teeth engaging in activities reminiscent of humans while featuring popular mechanics such as scatter pays, multiplier symbols, and cascading combos.
Play’n GO steps into the underworld of Viper City with its new slot, Viper City Heist, where cunning strategy and raw firepower lead to big rewards. Combining visual flair with exciting mechanics, this 5×3 slot with 20 fixed paylines offers a potent mix of instant prizes and feature-rich gameplay that stays true to Play’n GO’s signature storytelling style.
Evoplay has released Oath of Steel, a moody, battle-driven slot that captures the raw intensity of knights locked in combat beneath storm-filled skies. Set in a storm-soaked battlefield of iron masks and glowing castle windows, Oath of Steel brings players into a world where survival outweighs glory.
Get ready to run for cover as Peter & Sons latest release, Boom Farm, exploded onto the internet on June 19th, 2025. Set in the deceptively peaceful countryside, this is no simple farming game. The 6×6 scatter-pays video slot hides a dynamite twist—literally. With TNT barrels, Star Bombs, Scatter Pays mechanics and thrilling Cascades, every harvest can explode into serious wins.
ELA Games invites players to step into a captivating world of mystery and mischief with its latest title, Tail of Crime. Tune into your detective instincts for big wins with thrilling mechanics. The 5×4 slot has 20 paylines and a 96.2% RTP, guaranteeing action in both the base game and lucrative bonus feature.
Are you ready for the grand finale? That’s what in-demand content provider, ICONIC21, is asking players as it launches the final title in its Stellar Fruits series. Stellar Fruits 100 wraps up the iconic series with a bang, with the game being set across four reels and five rows with 100 paylines active.
Stakelogic is reaching for the clouds with the launch of its newest high-rise slot game, Skyline Fortunes. This bold and eccentrically engineered title trades traditional reels for steel beams and skyscraper thrills, where every spin helps build a skyline packed with potential. At the heart of the action is Big Bruno, a gorilla with a serious work ethic and a knack for stacking wins.
Dive deep and double your fun with Fish Tales: Double Catch, from Booming Games, the thrilling sequel to Fish Tales: Monster Bass! This 5×3 reel slot brings exciting features like Barrel Boost, Big Net Modifier and Free Spins with Cash Collection, all designed to reel in those big wins. Keep an eye out for Fish Multiplier symbols to trigger massive payouts and enjoy the anticipation with every spin.
Amusnet has released a new football-themed dice slot – 20 Wild Goals Dice. This 5-reel, 20 fixed paylines game brings the thrill of football to the reels, blending high-energy gameplay with iconic dice symbols. Watch for the Ball Wild symbol that appears on the 2nd, 3rd and 4th reels and expands, substituting for the rest of the symbols, except for the Scatter.
Playson, the accomplished digital entertainment supplier, invites players on a high-stakes safari in Lion Gems 3 Pots: Hold and Win, where Special Gems hold the key to lavish Bonus Game variants. A stunning African landscape plays host to the 5×4 slot as the reels blaze with powerful lions, radiant gems, and dazzling diamonds.
Prepare to embark on an epic adventure where the power of the gods awaits in Unusual Suspects: Legends of Olympus from Northern Lights Gaming. This is the latest instalment in the studio’s hugely popular Unusual Suspects series and promises plenty of divine action. Players will marvel as Wilds unleash their celestial power, flying over the gods for a chance to trigger the Judgement Day Jackpot
The post Week 25/2025 slot games releases appeared first on European Gaming Industry News.
The latest title in the studio’s popular slot series takes players to the realm of the gods, where the big win potential is mighty
Prepare to embark on an epic adventure where the power of the gods awaits in Unusual Suspects: Legends of Olympus from Northern Lights Gaming. This is the latest instalment in the studio’s hugely popular Unusual Suspects series and promises plenty of divine action.
Players will marvel as Wilds unleash their celestial power, flying over the gods for a chance to trigger the Judgement Day Jackpot. For those who ascend through the pearly gates, Free Spins await, where players ascend the trail to reach the Supreme Legend.
Let’s get into the bonus features in more detail.
Divine Wilds land in the base game and Free Spins and are triggered by the Legend symbols, of which there are five. The Legend determines how the Wilds behave, including turning reels one to four Wild and turning the top and bottom of any reels Wild.
If a Legend symbol lands on top of another Legend symbol or a Wild, a Multiplier gets added up to a maximum of 4x. Boom.
Judgment Day Jackpot is a three-of-a-kind pot bonus triggered by collecting Wild symbols in the base game and Free Spins. Players then get to choose a land to smite, which in turn reveals a Jackpot – reveal three matching Jackpots to win the prize.
The gods are on the side of the player, and that’s why they offer a Bonus Boost. This happens when two Scatters land on reels one and three, adding two tokens into the Bonus Boost Bar. Collect 100 tokens to fill the bar and unlock the bonus, which is the second Landmark on the Free Spins Trail.
Then there’s the Nudging Scatter Respins, which are also triggered when two Scatters drop on reels one and three. When this happens, reels two and four are held, with reels one and two nudging down one row. Reel five then Respins for the chance to hit a Legend symbol.
After each Respin, two tokens are added to the Bonus Boost Bar.
The real action takes place in the Free Spins bonus, which is triggered when two Scatters and a Legend symbol start the Bonus Respin. The Scatters and the Legend expand to cover the reel, and up to two Respins occur on reels two and four for a chance to award two more Scatters.
Two Scatters get the player 10 Free Spins, three Scatters get them 15 Free Spins, and four Scatters get them 20 Free Spins.
While the Free Spins play out, players work their way along a Trail with five Landmarks to uncover. As they hit each Landmark, they get five additional Free Spins plus an increasing Multiplier, up to a max of 10x.
Better still, active Legends can land on the reels for subsequent spins, and each Legend that lands triggers Divine Wilds.
Chris Loftus, Commercial Director, at Northern Lights Gaming, said: “We’ve taken the Unusual Suspects series into the realm of the gods, a hugely popular theme among players in markets around the world.
“Players once again join our hero character, Max Spinwell, but this time on a quest to harness the power of the gods to potentially win big.
“Matching this epic theme is edge-of-the-seat gameplay, provided through a powerful line-up of bonus features including Wild, Multipliers, Jackpots, Free Spins and more. This is a great instalment in the Unusual Suspects franchise, and we can’t wait to see players fire up the reels”
The post Northern Lights Gaming launches Unusual Suspects: Legends of Olympus appeared first on European Gaming Industry News.
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