Rivalry Corp. announced a significant reduction in operating activity as they explore strategic options for their assets. Discussions with third parties are ongoing, but due to recent performance volatility, operations will be scaled back. Cost reductions include a workforce reduction and decreased expenditures. Player activity on the platform is paused, and withdrawals are being facilitated. The company is considering asset-level transactions, corporate transactions, restructuring initiatives, or other strategic outcomes. The future of operations is uncertain, and updates will be provided as needed. Rivalry Limited, a sports betting and media company, owns Rivalry Corp. and is regulated for online wagering on esports, traditional sports, and casino games.

Read more at GlobeNewswire: Rivalry Corp. Announces Significant Reduction in Operations