Rivalry’s management cease trade order revoked
The Ontario Securities Commission lifted the restriction this week.
Key Points
- Management was prohibited from trading company securities because of this order
- Rivalry has filed the necessary financial reports to have this trading cease order revoked
Internationally regulated sports betting and media company Rivalry recently announced the Ontario Securities Commission has revoked a management cease trade order.
This allows members of management access to trading of the company’s securities.
The commission granted this order May 2 under National Policy 12-203 – Management Cease Trade Orders while Rivalry was in the process of filing several reports for the 2024 fiscal year and for the first quarter of 2025. These included management’s discussion and analysis, related certifications and annual audited financial statements.
The company said its annual and interim filings are available at www.sedarplus.ca under the Rivalry’s profile.
Rivalry is the company behind Casino.exe, an interactive casino platform, which is home to the company’s current and future titles. The platform features Penalty Shootout, Bomb Squad, Wheel of Time and Courier Sweeper.
Casino.exe was designed as a virtual interface that allows users to access titles from Rivalry’s third-party casino titles within an interactive online space.
Rivalry recently published its financial and business results for the 2024 fiscal year. Net revenue last year reached $13.6m, a decrease of nearly $3m year-over-year.
The Canadian company reported narrowing its net loss and reducing its operating expenses last year by 17%.
Operating expenses totaled $32.2m in 2024, nearly $6m less than what the company spent in 2023.
Last year, Rivalry reported a $22.4m net loss and a year-end cash total of $2.7m.
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