Rivalry Reduces Workforce Significantly

On Friday, shortly after Rivalry Corp. announced plans to significantly downsize its operations while exploring strategic options, the company terminated all contracts with its staff.

The exact number of employees impacted by the layoffs remains unclear. However, LinkedIn indicates that Rivalry Corp. had around 51-200 employees, while other estimates suggest a workforce of between 50 and 100.

The news broke when a former employee revealed that the company had decided to end all employee contracts.

Management was contacted for comment on Friday, and updates will be provided if a response is received.

In its announcement, Rivalry stated it was implementing “substantial cost reductions, including a significant workforce reduction and reduced operating expenditures.” The company also mentioned that it had paused player activity on its platform and was facilitating player withdrawals as usual. Additionally, Rivalry indicated it would be looking into opportunities to sell its assets, hinting at the possibility of a complete business shutdown.

Rivalry Corp. fully owns and operates Rivalry Limited, which provides regulated online betting on esports, traditional sports, and casino games. The company holds an Isle of Man license and an internet gaming registration in Ontario, along with an online casino games portal.