Rivalry Corp., an international esports and sports betting operator, has reported its full-year 2024 financial results, highlighting significant progress in its strategic turnaround.
The company, which operates globally with a focus on esports, sports betting, and online casino, has narrowed its net loss, reduced operating expenses, and entered 2025 with a leaner business model.
According to the Rivalry press release, the company’s revenue for 2024 reached CAD $13.6m (~£7.3m), which is down 16% from CAD $16.2m (~£8.7m) in 2023.
Rivalry also suffered a Net Loss of CAD 22.4m in 2024 (~£12m ), which is down 5.8% from 2023’s CAD $23.8m (~£12.8m) figure.
Despite still recording a loss, Rivalry was able to reduce its operating expenses by 17% to CAD $32.2m (£17.3m ), reflecting the impact of Rivalry’s cost optimisation initiatives.
The turnaround strategy, initiated in the second half of 2024, involved a comprehensive rebuild of Rivalry’s product, cost structure and player engagement approach.
Rivalry CEO Steven Salz stated: “We made hard decisions last year, rebuilding the product, cutting costs, and refining our approach to players, and those changes are beginning to show signs of positive impact.”
Early 2025 results indicate record levels of net revenue per active user and wagers per user, alongside steady deposit growth and a 40% increase in monthly new first-time depositors since January 2025.
Key initiatives included a restructured VIP programme, expanded casino offerings, platform upgrades for improved speed and conversion, and a crypto-native infrastructure overhaul.
Rivalry also launched a new on-site loyalty programme and is preparing to roll out a revamped promo engine and further customer relationship management enhancements.
Emphasis on Optimisation
Looking ahead, Rivalry plans to build on its momentum by further optimising its operations, expanding into new regulated markets and investing in technology to drive product differentiation.
The company is continuing to review strategic alternatives aimed at maximising shareholder value and has secured a $475,000 (£349,953) senior unsecured loan from its existing lender to support ongoing initiatives.
With a sharper operational focus, improved efficiency and a digital-first approach to betting and gaming, Rivalry is positioned to build on its momentum through the remainder of 2025.
The company plans to provide additional updates with the release of its Q1 2025 financial results later this month.
