Rivalry Corp. Announces Significant Reduction in Operations and Evaluation of Strategic Alternatives

Core Viewpoint - Rivalry Corp. has announced a significant reduction in its operating activities as it evaluates strategic alternatives for its assets and operations [1][2]. Group 1: Operational Changes - The Board of Directors has decided to materially reduce the scale of operations due to recent performance volatility [2]. - The company is implementing substantial cost reductions, which include a significant workforce reduction and decreased operating expenditures [3]. - Player activity on the platform has been paused, and the company is facilitating player withdrawals in the ordinary course [3]. Group 2: Strategic Alternatives - Rivalry is engaged in discussions with third parties regarding potential transactions while assessing a range of strategic alternatives [2][3]. - Potential alternatives may include asset-level transactions, corporate transactions, restructuring initiatives, or other strategic outcomes [3]. Group 3: Regulatory and Licensing Information - Rivalry Corp. wholly owns and operates Rivalry Limited, which offers regulated online wagering on esports, traditional sports, and casino games [5]. - Rivalry Limited has held an Isle of Man license since 2018 and has an internet gaming registration in Ontario [5].