At the Peru Gaming Show in June, strategic partners Merkur Gaming and Spintec entered a new chapter in their partnership in Latin America. The two companies signed a distribution agreement for Colombia and Peru, marking an important milestone in their collaboration. Their united presence at the show highlighted the strength of this alliance, which continues to deliver considerable advantages to their already winning cooperation across the region.

Spintec’s debut appearance this year was a highlight of Merkur Gaming stand at Jockey Plaza in Lima. The Slovenian specialist in Electronic Table Games (ETGs) featured an impressive range of products that combined innovation, reliability, and performance.  Their Karma and Charisma product lines were the big showstoppers with their unbeatable combination of innovation and reliability. These products are gaining traction and popularity all over the world for a very good reason: they are fully engaging and attractive to look at, while also being extremely dependable.

And the quality of Spintec’s portfolio is already delivering measurable results in the region. The renowned research company Eilers & Krejcik recognized Spintec as the top-performing ETG supplier in South America in their April 2025 Latin America Game Performance Report. This achievement propels the partnership in Peru and Colombia even further. It not only underlines the seamless integration of Merkur’s powerful regional presence with Spintec’s technological leadership in ETGs but also serves as a testament to the importance of companies’ growing strategic alliance.

“ETGs are a valuable and strategic addition to Merkur’s already robust product portfolio,” said Dominik Raasch, Management Board Member, Merkur Games. “Our partnership with Spintec is built on a shared vision of delivering excellence, innovation, and value to our customers. The joint market presence we are creating in Latin America is only the beginning.”

Goran Sovilj, Global Sales Director at Spintec, echoed the sentiment: “Our collaboration with Merkur Gaming continues to deepen, and we’re proud of what we’ve achieved together. With their strong local teams, infrastructure, and sales support, we are perfectly positioned to take the leading role in the ETG market in Latin America, and beyond.”

As the companies continue to strengthen and widen their strategic alliances in the region, their commitment to joint innovation, market leadership and next-level gaming experiences grows even further. The optimism is based on past achievements, but also on a very positive outlook towards future growth.

ACR Poker wrapped up its flagship Dual Venom tournaments, delivering over two weeks of big poker action and awarding more than $10 million in prize pools as players worldwide battled for massive payouts and coveted bounties.

The $8 Million NLH Venom drew 3,392 entrants across six Day 1 flights, pushing the prize pool to $8,480,000. The tournament concluded with Southern California resident David ‘IamYorFather’ Gonzalez, 54, claiming the NLH Venom crown after a fierce final table battle against elite opponents. The champion eliminated runner-up ‘ArkaduktusFrRM’, earning $665,163 and $45,000 in bounties.

“I’m still trying to process what just happened. Even days later it all seems so surreal. I was especially thrilled to be able to overcome being the short stack at the final table,” Gonzalez shared. “The money was a blessing because I have quite a few family members in need and this allows me to support them fully.”

Adding to the excitement, ‘sorka1975’ claimed the $500,000 top bounty, with ‘ArkaduktusFrRM’ ($210,000) and ‘AndreWard’ ($205,000) rounding out the top three mystery bounty winners.

ACR Pros kept the action buzzing throughout, with Chris Moneymaker firing up multiple bullets in the opening Day 1s, and Michael Loncar, Rob Kuhn, and Katie Lindsay earning their spots in Day 2. Fans can rewatch the final table action on ACR Poker’s Twitch channel, featuring Rob Kuhn and Drew Gonzalez.

Meanwhile, the $2 Million PLO Venom, tying ACR Poker’s biggest Omaha tourney ever, attracted 830 entrants and a $2,075,000 total prize pool. ‘FutureTrunks’ ultimately secured the first-place prize of $208,217, plus $146,250 in bounties.

“It was awesome to see such a solid turnout and fun atmosphere in both Venom tourneys,” said Moneymaker. “Huge congrats to the winners and everyone who hit those incredible bounties.” 

From Venom Fever to the Venom Vault, ACR Poker offered players hundreds of low-cost opportunities to win $2,650 Venom seats. One standout success came from ‘xGetxRektx’, who turned an $0.80 Venom Vault Key into an incredible $15,000 bounty and $6,500 cash prize.

While the Venom tourneys have concluded, ACR Poker is ensuring the action continues with more exciting tournaments approaching, including September’s Online Super Series XL, boasting a $50 million guarantee.

Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY), an internationally regulated sports betting and media company, today announced financial results for the three and six-month period ended June 30, 2025 (“Q2 2025”). All dollar figures are quoted in Canadian dollars unless otherwise noted.

Q2 2025 marks Rivalry’s second full quarter operating under its restructured business model initiated in late 2024, centered on efficiency, improved player monetization, and deeper operational discipline. The Company’s results continue to demonstrate the impact of this shift, with record net revenue per player, reduced expenses, and a significantly narrowed net loss.

“We’ve rebuilt Rivalry into a lean, high-performance engine,” said Steven Salz, Co-Founder and CEO of Rivalry. “Player monetization is at all-time highs, the product is stronger than ever, and we’re doing more with less.”

Key Highlights

• Net revenue in Q2 2025 increased 24% sequentially to $1.6 million, up from $1.3 million in Q1 2025, despite a declining expense base and completely flat marketing spend.
• Operating expenses declined 62% YoY to $3.6 million, down from $9.5 million in Q2 2024, reflecting substantial cost reductions and improved operational focus.
• Net loss narrowed 59% YoY to $2.19 million, down from $5.37 million in Q2 2024, and improved sequentially from $2.99 million in Q1 2025.
• Average Customer Acquisition Cost payback across H1 2025 was approximately 1.5 months, reflecting improved funnel conversion, higher player value, and stronger retention – all achieved under constrained spend conditions.
• Run-rate monthly operating expenses remain approximately $600,000 USD, consistent with the Q1 2025 press release.

Adjusted Operating Metrics

As with Q1 2025, a meaningful portion of Q2 2025 expenses were non-recurring or non-operational, including annual audit costs, regulatory fees, and legacy vendor payments from prior periods. On a run-rate basis:

• Adjusted G&A expense¹ was $1.7 million, compared to the reported $2.5 million.
• Adjusted Technology and Content expense¹ was approximately $440,000, versus $854,000 reported.

These adjustments reinforce that Rivalry is operating increasingly closer to breakeven on a structural basis, with the Q2 2025 reported net loss largely a function of historical payables and costs from prior quarters.

Record Player Economics

Performance improvements continued in Q2 2025, with record-high player monetization across multiple dimensions. These gains were driven by an improving product, high value player segmentation, enhanced onboarding, retention, and engagement improvements across the platform.

• Net revenue per player increased 49% quarter-over-quarter, and was 210% higher than the historical average prior to the Q4 2024 transformation.
• Wagers per player rose 7% quarter-over-quarter, and nearly 300% above the pre-rebuild average.
• Average monthly deposits per player increased 28% quarter-over-quarter, following a 175% increase in Q1 from historical levels.
• Deposit frequency per player climbed 22% quarter-over-quarter, compounding earlier gains, up 115% from historical levels in Q1.

Strategic Review and Operational Focus

Rivalry’s previously announced evaluation of strategic alternatives (the “Strategic Review”) remains ongoing. The Company continues to explore a range of potential outcomes aimed at maximizing shareholder value. There is no assurance regarding the timing or results of the Strategic Review.

As part of the Strategic Review, Rivalry is focused on:

• Normalizing the cost base to the aforementioned run rate by resolving non-recurring liabilities and payables from prior periods.
• Activating a controlled growth strategy, supported by high marketing efficiency and a 1.5-month Customer Acquisition Cost payback average observed throughout 2025.
• Targeted cost optimization, with additional reductions being assessed for H2 2025.

“This Strategic Review is about enabling growth from a fundamentally stronger base,” said Salz. “We’ve rebuilt the engine. Now we’re focused on unlocking its full potential.”

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