Publication Date: February 14, 2026, 09:35h.
Updated on: February 14, 2026, 09:41h.
- Player accounts suspended, refunds initiated
- Rivalry introduced a new strategic focus in 2025, emphasizing cryptocurrency
- The company has streamlined its workforce while looking for a buyer for its assets
Toronto-Rivalry has halted all player activities on its platform, implementing major cost-cutting measures, which include a substantial reduction in staff, as it appears to search for a potential buyer for its assets or contemplate alternative options.
Players’ funds are being returned. Rivalry’s Board of Directors confirmed these reductions in a statement, noting they are reviewing “asset-level deals, corporate transactions, restructuring strategies, and other possible outcomes.”
This shift contrasts sharply with the positive narratives surrounding Rivalry over the past year.
Operations Ceased
Rivalry made a strong entry into the market in April 2022 when Ontario’s regulated online gaming sector launched. Initially focused on esports, they crafted a youthful and innovative marketing approach, deliberately avoiding bonuses while targeting the Gen Z demographic, seemingly paving a path for growth.
In 2024, the company announced a strategic pivot from solely esports to embrace traditional sports betting, casino games, and fantasy leagues, aiming to create a brand that resonates with Gen Z experiences.
Major Staff Reductions
CEO Steven Salz noted in a letter to shareholders that year: “[The brand] is uniquely positioned where gaming intersects with internet culture, leveraging impactful, globally recognized marketing. The common thread… is a deep understanding of Gen Z’s consumer habits and its connection to gaming and internet culture, allowing us to create a product experience that stands out from competitors.”
A venture into the cryptocurrency space followed, introducing the Rivalry Token, aimed at engaging tech-savvy individuals with a blockchain-driven product to expand their reach among digitally native bettors. Additionally, in 2025, they sought to include the Solana cryptocurrency ($TRUMP) as an accepted payment option, tapping into “culturally viral moments” to enhance the Rivalry brand’s visibility.
Player Activities Suspended
Rivalry underwent two rounds of staff layoffs in 2024. Last mentioned in Casino.org, Rivalry had released its Q1 2025 statistics, highlighting what it considered the advantages of their newly established operating structure. A thorough overhaul of products, branding, and marketing was undertaken heading into 2025, featuring a crypto-focused strategy and an emphasis on high-value players.
This included an improved registration process, login features, sportsbook adjustments, a new crypto-focused cashier, an updated casino offering, and an extensive VIP rewards scheme. Salz reassured shareholders that the company was now more streamlined, geared up for its next growth phase.
Recently, the company reported it is “in discussions with third parties” about potential transactions.
Uncertainties Ahead
“However, due to recent performance fluctuations, the Board has decided to significantly downscale operations while assessing potential strategic transactions or other viable alternatives.”
“Effective immediately, the Company is enforcing substantial cost reductions, including a significant decrease in workforce and minimized operational expenditures. Player activities on the platform are paused, and withdrawals are being processed as usual.”
In its statement, the company added, “there is no guarantee that any strategic alternatives will materialize or that operations will sustain in their current format.” Rivalry committed to offering further updates “as significant developments unfold.”