Rivalry announces evaluation of strategic alternatives with XST Capital Group

iGaming and sportsbook operator Rivalry announced Monday that its Board of Directors has initiated "a review of strategic alternatives" to maximize long-term stakeholder value.

To support this initiative, the company has engaged XST Capital Group, a boutique investment bank focused on the digital gaming sector. No specific options to be considered as part of the initiative were unveiled.

As part of this process, the companies will evaluate a range of options to ensure Rivalry is "best positioned for continued growth and innovation." According to a press statement, the review reflects the Board’s commitment to prudent corporate governance and its ongoing efforts to optimize the company’s market position.

"We have built a strong foundation in the online gaming sector, delivering an exceptional experience for our players while driving operational excellence,” said Steven Salz, Co-Founder and CEO of Rivalry. “This review is a natural step in assessing how we can best create long-term value for our stakeholders while continuing to enhance our world-class gaming platform.”

The company also revealed that it has secured a US$650,000 principal amount senior unsecured loan from its existing senior lender, maturing on September 30, 2025, with an interest rate of 10% per annum.

"The loan reinforces the company’s senior lender’s support for the process and provides the company with additional flexibility to pursue strategic initiatives," Rivalry said.

Rivalry offers betting across sports, esports, casino, and fantasy in Ontario. It also operates worldwide via its Isle of Man licence.