Igaming and betting operator Rivalry says its renewed focus on high-value and VIP players is translating into “improved unit economics, deeper engagement and structural momentum toward long-term sustainability.”
The company said Q1 saw a 175 per cent increase in player monthly deposits, with total deposits rising 36 per cent month-on-month in February and 12 per cent in March.
This, it said, came despite a smaller active userbase than in the past.
Rivalry added that average monthly deposit frequency per player increased by 115 per cent compared to October 2024, when the company decided to change strategy.
Monthly betting handle per active user also hit a new all-time high in March, Rivalry said, as did monthly gross and net revenue per active user.
Steven Salz, co-founder and CEO of Rivalry, said player engagement is the “strongest we’ve seen in the company’s history.”
“Even with soft margin outcomes in Q1 2025, the model is showing strong underlying signals. As sportsbook hold normalises and our cost base becomes leaner, we believe we’re moving in the right direction,” he added.
Rivalry’s Q1 betting handle was CA$58.2m and net revenue was $1.3m for a net revenue margin of 2.3 per cent.
Rivalry’s full-year net revenue margin was 4.4 per cent, with the Q1 2025 margin variance being attributed to short-term fluctuations in sportsbook hold.
While revenue was lower than in previous quarters, the company said its strategy will drive “significantly greater long-term value but can introduce short-term volatility as they scale.”
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