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

Executive Summary

• The Board approved a substantial reduction in operating activity, including workforce cuts and lowered operating expenditures, as the Company evaluates strategic alternatives.
• Rivalry Corp. is actively discussing potential transactions with third parties but provides no assurance that any deal will be completed or that current operations will continue unchanged.
• Further updates will be issued only if material developments occur.

Key Details

• Effective immediately, the Company is implementing significant cost reductions:
• Large workforce reduction (exact headcount not disclosed).
• Reduced operating expenditures across its platform.
• Player activity on the betting platform has been paused; player withdrawals are being processed in the ordinary course.
• The Board is assessing a range of strategic alternatives, which may include:
• Asset‑level transactions.
• Corporate‑level transactions.
• Restructuring initiatives.
• Other strategic outcomes.
• No guarantee that any strategic alternative will be completed or that operations will continue in their current form.
• The Company will provide further updates only when material developments arise.

Notable Quotes

• “Given the Company’s reduced operating scale and the ongoing evaluation process, there can be no assurance that any strategic alternative will be completed or that operations will continue in their current form.” – Steven Salz, Co‑founder & CEO, Rivalry Corp.