Rivalry announces review of ‘strategic alternatives’
Canadian igaming operator Rivalry has revealed that its board of directors is reviewing strategic alternatives to maximize long-term stakeholder value.
As part of the review, Rivalry has engaged digital gaming focused investment bank XST Capital Group as an adviser.
In a statement released yesterday, the operator said it and XST Capital plan to evaluate a range of options to ensure the it is best positioned for continued growth and innovation.
“The review reflects the board’s commitment to prudent corporate governance and its ongoing efforts to optimize the company’s market position”, it added.
Based in Toronto, Rivalry operates in more than 20 countries and has held an Isle of Man license since 2018.
The operator underwent restructuring in July 2024, announcing 29 lay-offs, and then pursued a strong crypto focus, targeting Millennials and Gen Z, with the launch of a new crypto product called the Rivalry Token.
Alongside it’s latest strategic review, the operator announced it had secured a US$650,000 senior unsecured loan, maturing on 30 September this year, with a 10% interest rate from an existing lender.
“We have built a strong foundation in the online gaming sector, delivering an exceptional experience for our players while driving operational excellence,” said Steven Salz, Co-Founder and Chief Executive of Rivalry. “This review is a natural step in assessing how we can best create long-term value for our stakeholders while continuing to enhance our world-class gaming platform.”
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