Canadian gaming and betting company Rivalry scales down B2C business

• Rivalry.gg, one of the most prominent B2C esports-first gaming and betting platforms, has announced it’s significantly scaling down its operations
• The decision was announced last Friday by the Board of Directors, who are now exploring the potential sale of assets
• Despite branching out into traditional sports betting and casino operations, Rivalry cited recent performance volatility as a factor behind the workforce reduction

Rivalry, one of the first gaming and betting companies to break into the esports betting vertical as a dedicated entity, has announced that it is significantly reducing its operations.

Rivalry scales down B2C business amid strategic review

Following a decision by the Board of Directors announced on Friday, February 13, the company has begun evaluating strategic alternatives "in respect of its assets and operations."

Notably, the company’s B2C website, Rivalry.gg, is now in maintenance mode, with a message informing visitors that the website is currently unavailable. Rivalry is currently planning the sale of assets, but clear details as to what may be sold and to whom are still being discussed, as the company clarified in its press statement last week:

"The Company is engaged in discussions with third parties regarding potential transactions. However, in light of recent performance volatility, the Board has determined to materially reduce the scale of operations while assessing whether a strategic transaction or other alternative can be advanced."

Withdrawals are processed; no guarantee company will return to its previous operations

The company confirmed that it is undertaking immediate cost reduction steps, including a significant workforce reduction to slash operating expenditures.

While the B2C business is not accepting new deposits or betting, withdrawals are being facilitated for players, Rivalry confirmed in the press statement.

Rivalry could not offer any guarantee that a strategic alternative would be completed or that operations would continue in their current form.

This decision comes as a surprise after the company reported in December that its operations in Ontario had set a new record, gaining 240% year-over-year in terms of deposits and a 100% increase in the total wagers placed with the platform.

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