Co-founders resign as Rivalry betting freeze continues

Khizar Mundia Published 28/04/2026

Rivalry Corp’s future is in doubt with multiple co-founders leaving the company following a difficult start to 2026.

Betting operator Rivalry Corp is as an online gambling platform with a special focus on esports. The operator does offer traditional sports betting and casino games, but its shares have been under pressure for some time. Rivalry ultimately announced a pause where no new wagers would be placed, and players would also be refunded. The latest news about the company is that several key members have resigned, leading to speculation about its long-term viability.

What’s happening at Rivalry Corp?

Rivalry leadership has collapsed, with co-founders Steven Isenberg, Ryan White, and Kevin Wimer leaving the company. Isenberg was also on the board, White was the CTO, and Wimer held the position of COO, which makes their departures more hard-hitting. Board member Stephen Rigby and interim CFO Demi Abidogun-Benson have also resigned. This leaves CEO Steven Salz the only remaining co-founder, executive, and board member of the company.

Image credit: Canva

The mass resignation of key leadership followed the betting operation pause, which was implemented in February. Rivalry started laying off staff soon after, and the company’s future became uncertain. The company was said to be exploring its options, including a sale, but nothing definitive was announced. This mass exodus by key leadership has put Rivalry’s future further in doubt.

What’s next for Rivalry Corp?

Rivalry hasn’t officially announced future plan, but there aren’t many options remaining for the company. If a sale isn’t finalized soon, then Rivalry risks shutting down. Betting operations have already been stopped, leadership is gone, and there is no timeline for when operations can restart. This is the worst-case scenario, but some analysts are speculating it may come to pass.

Esports betting is a difficult niche to succeed in as, unlike traditional betting, it relies on a younger generation of bettors. Traditional online gambling has a wider player base, which helps offset risks and manage losses. Esports wagering, on the other hand, has a niche player base and is also highly regulated.

Rivalry doesn’t just offer esports wagering, but it is a key focus of the company. It also isn’t the only operator to struggle, as other esports-focused operators have also experienced stagnant growth in the sector. This is why many operators have diversified their offerings to help mitigate losses and offset risk. Some of the big names, such as DraftKings, offer esports betting, but the operator’s revenue is primarily driven by traditional sports betting. DraftKings is also expanding into prediction markets, highlighting how important diversity is for growth.

Feature image credit: Rivalry Corp

Khizar Mundia

About Khizar Mundia

Khizar Mundia has been playing video games for as long as he can recall. Things have come a long way since the many days he spent playing the original NES, though. He now covers a variety of competitive games and esports, as well as the world of streaming, ranging from Twitch to Kick. If it’s of interest to gamers, it’s of interest to Khizar.

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