Games

Rivalry reports slight revenue dip after strategy change in 2024

BBG News

In 2024, it was reported that Rivalry experienced a decrease in revenue due to some adjustments they’re making, but it’s important to note that this isn’t entirely negative for the bookmaking company based in Toronto.

In a recent announcement, digital betting company Rivalry, based in Toronto, disclosed a minor decline in their earnings for the previous year. However, they managed to offset these losses during this period. This situation arises while the platform undergoes a “strategic transformation,” a process that is ongoing at present.

Rivalry’s 2024 and strategy shift

2024 saw Rivalry reporting a net income of $13.6 million, marking a 16% decrease from their reported earnings of $16.2 million in the previous year (2023). Interestingly, despite this dip in revenue, their net loss actually decreased as well. The net loss stood at $22.4 million in 2024 compared to $23.8 million in the previous year.

2024 saw a decline of 17% in annual operational costs for our platform, dropping from $38.8 million to $32.2 million compared to the previous year. At year’s end, Rivalry reported a cash value of $2.7 million. As they moved into 2025, this decrease in operating expenses has continued.

Last year, we faced tough choices – redesigning our product, reducing expenses, and fine-tuning our player strategy, and it appears these alterations are bearing fruit. The second half of 2024 paved the way, and we’re optimistic about the advancements we’ve made so far in 2025.

In late 2024, fierce competition initiated a series of transformations encompassing their expense structure, product offerings, player strategies, and operational systems. By the end of the first half of 2025, these alterations have largely been put into action, and the organization has started to share some preliminary outcomes.

This encompasses a revised business structure that has lowered their operational expenses, with further cutbacks anticipated in Q3 of 2025. Additionally, they have overhauled their VIP scheme and new player orientation process. As per Rivalry’s analysis, this modification has enhanced retention and revenue generation from premium players.

The process of renovation included broadening the scope of their casino offerings to enhance user reliability, as well as revamping their in-house blockchain architecture for a smoother user interface and stronger token compatibility. Simultaneously, their digital platform underwent an upgrade, resulting in faster performance, heightened responsiveness, and increased conversion rates.

Rivalry in 2025

As the year 2025 approached, the gambling platform persistently implemented modifications. Among these were enhancements to their Loyalty Program and regular improvements to their site for smoother operation and improved user interaction.

This summer, supporters of competing entities can anticipate the rollout of a fresh promotional engine. This innovative tool is designed to offer instant deposit incentives and novel promotion types, effortlessly incorporated into their initial sign-up process and strategies for rekindling customer engagement.

Rivalry’s involvement in esports

Competition had a significant presence within the world of eSports, having formed strategic alliances with several notable entities. For instance, they collaborated with B8 Esports, an esports group originating from Ukraine that was founded by prominent Dota 2 player Danil “Dendi” Ishutin. Additionally, they secured a brand association with Blacklist Rivalry, a Filipino Dota 2 team. Regrettably, as of now, both teams have either dissolved or are currently inactive.

It’s unclear at this point if alterations in Rivalry’s strategy and reduced participation in esports had any impact on both teams facing dissolution, as the details remain undisclosed.

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2025-07-03 18:41

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