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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:

  • 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.

Dmitry Starostenkov

EvenBet Gaming Launches its Turnkey Casino Platform and Game Aggregator

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EvenBet Gaming, a global card games and poker software provider, has expanded its product portfolio with the launch of its Turnkey Casino Platform and Game Aggregator, marking its formal expansion into the casino vertical.

With more than 20 years of experience in the poker industry, the move marks the next phase of growth for the company, bringing together its proven poker software and advanced casino solutions into a single framework.

At the core of this expansion is the Turnkey Casino Platform, designed to minimise launch friction and provide a structured and accessible entry into the market, supported by scalable infrastructure to facilitate long-term growth.

The ecosystem combines a ready-to-launch casino platform with EvenBet’s Game Aggregator, comprising over 15,000 titles from more than 230 providers. It also includes an advanced promotional and bonus toolkit, payment infrastructure, KYC tools, an internal revshare affiliate module and external CPA service integrations, enabling operators to launch and scale efficiently without needing extensive technical resources.

EvenBet’s strategy is designed to support a seamless product journey, accommodating both new market entrants seeking an efficient launch and established operators looking to expand their portfolio. Underpinned by a single player account and shared balance, the platform is built to drive cross-vertical engagement, enabling a natural transition between casino and poker.

Supporting this approach is its suite of purpose-built hybrid games tailored to casino players. One Click Poker removes the traditional poker lobby, eliminating a common barrier to entry, while Spins Poker blends player-versus-player gameplay with fast-paced, slot-style mechanics.

Additional casino side games and rewards within the poker lobby play a vital role in supporting the transition of poker players into casino, further optimising the two-way conversion pipeline.

With a track record of delivering first-class poker solutions to tier-one operators worldwide, the expansion positions EvenBet to unlock previously untapped revenue streams as it targets further global growth.

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “The integration of our Turnkey Casino Platform and Game Aggregator into the EvenBet ecosystem represents a natural evolution of our offering.

“The modular platform has been engineered to remove the complexities typically associated with launching a casino, while also providing a clear pathway to a full-scale poker product.

“By leveraging two decades of industry experience and deep technical expertise, we are well equipped to support operators at every stage of their journey, from initial launch to global scale.”

The post EvenBet Gaming Launches its Turnkey Casino Platform and Game Aggregator appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Amusnet Italy

Amusnet Italy Announces Strategic Partnership with StarVegas

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Amusnet Italy has announced a new strategic partnership with StarVegas, a prominent operator in the Italian iGaming landscape. This collaboration represents another step in the company’s mission to deliver top-tier gaming content to local players.

Under the agreement, StarVegas will integrate a selection of Amusnet’s some of the most successful titles, known for combining the nostalgic appeal of classic slot design with cutting-edge technology. The partnership aims to enhance the operator’s premium casino offering, delivering a more diverse and high-quality entertainment experience to its established player base.

The launch features some of the market’s top-performing titles, such as Extra Crown and Shining Crown, the engaging mechanics of 20 Golden Coins, and the fan-favourite 20 Super Hot. These games are recognised for their seamless performance, intuitive gameplay and high-quality graphics.

“Partnering with StarVegas is a significant milestone for our growth in Italy. We are confident that our iconic portfolio will bring strong value to their players and further reinforce our position as a leading provider in the region,” said Polina Nedyalkova, Director at Amusnet Italy.

“We are proud to welcome Amusnet to StarVegas, enriching our portfolio with a curated selection of titles inspired by traditional slot gameplay and enhanced with modern visuals and streamlined mechanics. This partnership reflects our commitment to delivering a diverse and engaging gaming environment, where accessibility, variety, and quality remain central to the player experience,” said Paolo Marchi, Brand Manager at StarVegas.

This agreement highlights Amusnet’s continued commitment to expanding its footprint in the Italian market, bringing its high-performing portfolio to an even broader audience.

The post Amusnet Italy Announces Strategic Partnership with StarVegas appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Andrew Kong

REEVO Announces New Partnership with Pitta+

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REEVO has announced a new partnership with Pitta+, an emerging iGaming content provider focused on delivering engaging slot titles and interactive gaming experiences to operators worldwide. This collaboration further strengthens REEVO’s aggregation ecosystem, expanding its content offering with dynamic titles designed to appeal to a broad range of player preferences.

Through this partnership, Pitta+’s portfolio is now available on the REEVO aggregation platform, giving operators seamless access to fresh and engaging content through a single, efficient integration. The addition of Pitta+ reinforces REEVO’s commitment to continuously enhancing its platform with diverse and high-performing content that supports operator growth.

For REEVO, this partnership reflects its ongoing strategy to collaborate with innovative studios that bring creativity and performance to its growing aggregation platform.

Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with Pitta+ is another exciting step forward for REEVO as we continue to grow our aggregation platform with diverse and engaging content. What stands out is their ability to deliver accessible gameplay combined with strong themes that resonate across different player segments. At REEVO, we focus on building an ecosystem that helps operators succeed, and this partnership strengthens our ability to offer content that drives engagement and long-term value.”

Andrew Kong, Head of Business Development at Pitta+, said: “We are very excited to partner with REEVO and bring the Pitta+ game portfolio to their extensive network. This collaboration represents an important milestone for us as we continue expanding our global distribution. REEVO’s strong aggregation platform and global reach make them an ideal partner, and we look forward to building a successful and long-term collaboration together.”

The post REEVO Announces New Partnership with Pitta+ appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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