The company announced on February 13, 2026, that the board of directors approved a significant reduction in operating activity, effective immediately. Three measures were specified in this announcement: a platform pause, cost reduction, and workforce reduction.
The main information for customers is that they have access to their funds. Rivalry is to enable player withdrawals in the ordinary course while the platform is paused.
Deals, Restructuring, or Asset Sales Are All on the Table
The company, which said it is already in talks with other companies about possible transactions, also noted that there’s no assurance of any strategic alternative being completed. There’s no assurance that it will continue to operate in its current way, either.
The company outlined several possible scenarios, which included asset transactions, corporate transactions, restructuring, or other outcomes. In addition, Rivalry said it would only make further announcements if there were significant developments.
Where Rivalry Is Licensed and Why That Matters
Rivalry describes itself as an esports-first operator with expansion into broader online wagering and casino content. It’s based in Toronto, Canada, and has operations in several jurisdictions.
Rivalry’s February 13 announcement asserts that the company has an Isle of Man license since 2018, as well as an internet gaming registration in Ontario. Also of note, the Isle of Man Gambling Supervision Commission licensee register lists Rivalry Limited as an active license holder, with its license being valid since January 19, 2018.
Recent Results Suggested Momentum, But Losses Continued
The pause comes on the heels of positive news from Rivalry, which recently touted strong performance in Ontario. In an update on December 17, 2025, the company said that deposits in the region had increased by about 240% year-over-year, with wagers up 100% year-over-year, as it positioned to deliver an all-time record quarter in the region.
The operator had also been highlighting positive financial metrics, including a reduced cost structure. In announcing Q3 2025 earnings on December 1, 2025, it said that net revenue had increased to $1.93 million, with operating expenses down 58% year-over-year to $3.52 million, and net loss increasing 67% year-over-year to $1.96 million.
The figures demonstrate progress, but they also underscore a problem that smaller public operators often face: even with significant cuts, getting expenses below revenues is hard.
Bottom Line for Industry Watchers
For investors, partners, and competitors, the move by Rivalry is a reminder that good-looking quarter-to-quarter numbers aren’t necessarily an indication of stability. The next important indicators of what’s going on at Rivalry are:
- Resumption of normal platform activity;
- Announcement of a specific transaction (asset sale, restructuring, or corporate deal);
- Further public filings that shift the outlook on the company’s regulated business, particularly in Ontario, where it reported its strongest business momentum.
