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Rivalry Reports Q2 2025 Results Highlighting Record Unit Economics, Structural Efficiency, and Strategic Progress
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:
- 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.
Reading Time: 4 minutes
Here are this weeks latest slots releases compiled by European Gaming
“Fruitferno 40” went live, a new 5×4 slot from Hölle Games. It comes just a few weeks after the Dragon’s Diamonds launch, a cluster-style title with an equally hot theme! Following up to that 6×5 scatter-pays smasher, the Hölle team have taken a short detour to drop a 40-payline sequel to Fruitferno 20, for all those slot purists out there.
GAMOMAT is raising the stakes again with the release of its horror-themed Dead Legion. Set on a war-torn battlefield that’s shrouded in mist, Dead Legion unfolds within a macabre world where the dead legions have risen. An epic, dark live orchestral soundtrack intensifies the atmosphere across the 5×3 reels.
Reflex Gaming is heading deep into ancient ruins with the launch of The Cursed Idol of Montezuma Treasure Hunt
, a visually stunning, Aztec-themed slot that introduces the company’s exclusive Treasure Hunt game mechanic. This 6×4, 20-payline title combines mystery, tension and progressive gameplay in a setting inspired by the legends of Montezuma.
Precision meets power in Crown Supreme Hold & Win from ICONIC21, the in-demand iGaming content provider. To take the throne, players must navigate a compact 3×3 grid and the regal Hold & Win mechanic in a slotting experience that pulses with anticipation and big win potential.
Relax Gaming, the iGaming aggregator and supplier of unique content, has launched Net Gains Dream Drop, a high-energy sequel where players can reel in massive rewards beneath the waves. Packed with coastal chaos and big catch potential, Net Gains Dream Drop offers 4,096 ways to win, three types of Mystery Symbols, Coin Collection mechanics, stacked Wilds, and more.
SlotMatrix, the world’s largest casino content aggregator, proudly announces the launch of 20 Armadillos, a thrilling new slot adventure set deep in a jungle where fortunes roll wild. 20 Armadillos is a 5-reel, 4-row slot with 20 lines, medium-high volatility and RTP options of 94.16% and 96.96%. With a maximum multiplier of 30,000x and a responsive, mobile-first design, the game blends rich visuals with high win potential.
Amusnet has released its latest video slot, Roman Coins – a game that captures the magnificence of the Roman Empire and brings it to life on the reels. It is Amusnet’s first-ever 3-pot video slot. With a 5-reel layout and 25 fixed paylines, Roman Coins strikes a perfect balance between classic slot structure and innovative mechanics.
Play’n GO throws the switch on Lab of Madness It’s a Wild!, a gothic comic-inspired slot that surges with strange science and surprise. Players join the unconventional Dr Frankenstein as she attempts to jolt her patchwork Monster to life in a lab where every pull of the lever sparks new possibilities.
Playson, the accomplished digital entertainment supplier, ups the ante in its latest Irish folklore release, Golden Penny x1000, with a rare 6×5 reelset, x20,000 max win and a bountiful Free Spins Bonus. In an enchanted twist to base play, the colourful game field comes alive with collapsing symbols. Eight matching symbols form a winning combination, with the total of the symbols forming the win value.
Evoplay, the award-winning game development studio, has launched Lunar Wilds, an atmospheric slot that combines mystical forest visuals with powerful features and big win potential. Set beneath a silver moon, the game transports players deep into an enchanted wilderness, where packs of wolves roam under the night sky.
The God of the Sea unleashes lavish gameplay in Blueprint Gaming’s latest offering, Rise of Atlantis Legacy, with the highly anticipated title introducing a new Gates of Atlantis bonus game, boosting the chance of significant cascading returns. Boasting the ability to appear on any of the six reels, Rising Multipliers offer enriched payouts if featured in a winning combination, which are added at the end of a successful cascade.
Stakelogic is setting sail into uncharted waters with its latest slot release, Kraken’s Catch, a feature-packed, high-volatility slot where monstrous multipliers and a mysterious sea creature lie beneath the surface. This 5×3 slot with 15 win lines invites players on a nautical adventure where every spin can uncover treasures from the deep.
The post Week 38/2025 slot games releases appeared first on European Gaming Industry News.
Reading Time: 2 minutes
The Gaming in Germany Conference, which will take place Tuesday, November 11, 2025, in Berlin has announced its initial agenda.
A select number of confirmed conference sessions are listed below. A more comprehensive agenda is available here.
Gaming in Germany Conference – Preliminary agenda
(Please note that all session titles are provisional.)
BLOCK I: Regulatory developments
Keynote address
Senior GGL representative
Regulatory update
Dr. Joerg Hofmann, Senior Partner, Melchers Law Firm
The state of Germany’s sports betting market
Mathias Dahms, President, Deutscher Sportwettenverband (DSWV)
The state of Germany’s virtual slots market
Dr. Dirk Quermann, President, Deutscher Online Casinoverband (DOCV)
BLOCK II: The threat of the black market
Germany’s iGaming market in numbers
Josh Hodgson, COO, H2 Gambling Capital
Operators taking a stand against the black market
Christian Heins, Director iGaming, Tipico
Illegal affiliate marketing and the role of Big Tech
Dr. Andreas Ditsche, CEO, iGaming.com
INTERMEZZO: Products & services for the German market
Innovation panel & breakout sessions sneak preview
Magno Neiva, Head of Licensing & Regulatory Compliance, Altenar; other speakers TBA
BLOCK III: Evaluating the 2021 State Gambling Treaty
On effective and proportionate gambling regulation
Alex Green, Vice President – Games, ZEAL Network
Regulation the industry should embrace
Maarten Haijer, Secretary General, EGBA
Evaluating the State Gambling Treaty: Towards a common wishlist?
Birgitte Sand, former Executive Director Spillemyndigheden; other speakers TBA
Former ZEAL executive and NOGA MD, Peter-Paul de Goeij will serve as the event’s day chair.
Business operations & breakout sessions
In addition to high-level regulatory and policy-related information, the 2025 Gaming in Germany Conference also offers highly practical information on topics such as KYC, AML, data protection, payment solutions, and much more. Breakout sessions will be hosted by trained experts and are highly interactive.
Get relevant business intelligence to give your day-to-day operations a boost!
Call for (breakout) speakers
If you are interested in delivering a presentation or participating in a product or service-themed breakout session, please contact Gaming in Germany founder Willem van Oort for more information regarding opportunities and possibilities.
We are specifically looking for expertise on business topics such as media & marketing, affiliation, compliance, and operations.
Practical information
The 2025 Gaming in Germany Conference takes place Tuesday, November 11, 2025, at the DoubleTree Hilton Ku’damm in Berlin – just 100 meters from the magnificent Kurfürstendamm!
Registration for the 2025 Gaming in Germany Conference is now open.
Don’t miss it! Register now!
Gaming in Germany webinar: Regulatory & market update
Ahead of our 2025 Gaming in Germany Conference, we are hosting a pre-conference webinar on the current state of Germany’s regulated iGaming market.
This webinar will take place on Tuesday, October 7 at 15:00 CET and will be covering the following topics:
- Current regulatory & market developments
- The upcoming evaluation of the 2021 State Gambling Treaty
- The challenge of the black market
Dr. Joerg Hofmann, Senior Partner at Melchers Law and Germany’s leading gambling lawyer will address the latest regulatory developments. Josh Hodgson, COO at H2 Gambling Capital, will provide insight into the latest market figures.
The post Gaming in Germany Conference Agenda appeared first on European Gaming Industry News.
Reading Time: 2 minutes
The Netherlands Gambling Authority (KSA) has issued new guidance for gaming arcades and casinos to improve the implementation of their duty of care. The KSA previously visited gaming arcades across the country. These visits revealed that while most arcades are paying attention to their duty of care, implementation could be improved in some areas. The guidance the KSA is now sharing with license holders contains practical tools and explanations, but no new rules.
Duty of care of arcades
With the implementation of the Gambling Act (Wet Koa), the duty of care for gaming arcades has been further expanded. This means they are obligated to prevent and mitigate gambling addiction as much as possible. Since then, gaming arcades have taken steps to comply with this requirement. However, in practice, the stated good intentions and the relevant policy are not always sufficiently aligned. The KSA has discussed this with various parties within the sector. Based on the input from these discussions, the new guidance has been developed.
Guidance
The guidance for arcades includes resources that providers can use to properly fulfill their duty of care and better inform their employees. The guide provides explanations and examples of what arcades must do and what the KSA expects of them. It also includes an overview of frequently asked questions. In addition to the guidance, a poster and an animation have been developed to raise awareness among arcade employees about the duty of care.
Along with the duty of care guidance, arcades also received a Guideline for Identity and Cruks Verification. The KSA regularly receives questions from the sector about the Cruks exclusion register. This guideline addresses the operation of Cruks and the most common questions and problems.
KSA chairman Michel Groothuizen said: “Certain key factors of the duty of care are easier to monitor for online providers than in brick-and-mortar casinos. In our conversations with arcade owners, we’ve noticed that they want to do more with the duty of care, but sometimes still struggle with its proper implementation. With this new guidance, supplemented with informational materials for employees, we’re giving them new tools to do so. In this way, we’re working together to ensure that players are optimally protected even at brick-and-mortar providers.”
The post KSA Issues New Duty of Care Guidance for Gaming Arcades and Casinos appeared first on European Gaming Industry News.
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