Toronto-based esports and sports betting operator Rivalry has announced a major financial reset to conclude its strategic review.
The company announced a C$5.52 million ($3.9 million) private placement alongside a significant debt restructuring. The move concludes the strategic review process that the company kicked off in April and follows a series of cost-cutting measures.
In a press release, Steven Salz, Co-Founder and CEO of Rivalry, said it marks “the start of Rivalry’s next chapter”.
Rivalry has announced the conclusion of its strategic…