Rush Street Interactive

LatAm Q3 results round-up: Brazil betting launch dominates discussions

With the majority of the gambling industry having published their Q3 results, iGB looks at how operators fared in the region and their plans for the future there.

Brazil will launch its legal betting market on 1 January 2025 and one operator that is hoping to make a real dent in the market is the giant Flutter Entertainment.

Back in September, Flutter announced it had agreed to acquire an initial 56% stake in NSX Group, which operates the Brazil-facing Betnacional brand. The deal is worth $350 million (£266.5 million/€316.0 million).

For the nine months ending 30 September, Flutter reported year-on-year revenue growth in Brazil of 4%. In its earnings call following the Q3 results release, CFO Rob Coldrake spoke of the operator’s excitement for the market opening.

“We’re very confident about our approach in Brazil,” Coldrake told reporters. “We’ve grown with our brands that we’ve got there already. We’re very excited about the NSX acquisition.”

The NSX acquisition will create a new..

August 5, 2024

Rush Street Interactive won’t join DraftKings in introducing surcharge

Rush Street Interactive has no plans to introduce a surcharge for its players after DraftKings announced its plans to implement a gaming surcharge last Thursday (1 August).
Rush Street Interactive’s commitment to customer-centric policies in a Monday (5 August) press release follows DraftKings’ Q2 business update. DraftKings said its plans to “address high tax rates” involved introducing surcharge on winning bets in states with a tax rate exceeding 20% starting from 1 January 2025.

Rush Street Interactive and its brands, which include BetRivers and RushBet, says it is reaffirming its “dedication to providing exceptional value” for players by not following in DraftKings’ footsteps.

It was an “easy decision” for Rush Street Interactive CEO Richard Schwartz.

“RSI remains committed to maintaining its leadership position in the industry by continuously prioritising the needs and preferences of its players,” Schwartz explained.

“We believe that RSI’s focus on customer satisfaction, coupl..

January 9, 2023

Kambi and Rush Street Interactive extend sports betting deal

Kambi Group has signed an extension to its North America-facing partnership with online sports betting and casino operator and Rush Street Interactive (RSI).

Under the deal, Kambi will continue to provide its sportsbook engine to RSI in 15 states across the US, as well as in Canada, Colombia and Mexico.

Kambi initially partnered with RSI in 2018 following the repeal of the Professional and Amateur Sports Protection Act (PASPA) in the US and has supported the operator with its expansion across a range of markets.

Read the full story on iGB North America

August 23, 2022

Rush Street Interactive: the exception that proves the rule

At a time when US sports betting operators are shifting focus to profitability rather than expansion, Rush Street Interactive believes it is a step ahead of the competition. Chief executive Richard Schwartz explains how a disciplined approach, online casino and its pan-American ambitions, will achieve this.

The early stages of the US betting and igaming market have been typified by a race to build as big a customer database as possible, at whatever cost. Each state that launches experiences advertising shock and awe, as operators bankroll vast campaigns to use each rollout as a land-grab for new sign-ups.

Rush Street Interactive (RSI), the business that listed on the New York Stock Exchange in December 2020, has looked to take a different approach. At a time when there is greater scrutiny of company spending, and investors query how long hefty losses can be sustained, it has managed to keep its spending in check.

While the push for profitability is still relatively new to the wide..

August 5, 2022

RSI still on track for long-term earnings goals despite higher Q2 losses

Rush Street Interactive (RSI) said it still expects to achieve its longer-term earnings targets despite posting an increased net loss and negative adjusted earnings before interest, tax, depreciation and amortization (EBITDA) during the second quarter and first half.

Speaking after the business published its results for the two operating periods, RSI’s chief executive Richard Schwartz said that the operator continues to move towards becoming profitable.

Schwartz said RSI experienced profit across six of its markets during the second quarter of its 2022 financial year, with the states of New Jersey, Pennsylvania, Illinois and Michigan, along with Colombia in South America, being profitable in the quarter. In addition, West Virginia also turned profitable after only four full quarters of operation in the state.

“We are continuing to build a global business,” Schwartz said “With the recent launches in Ontario in Canada and Mexico, we are now live in a total of four countries. This give..

August 1, 2022

BetRivers launches retail sportsbook in Maryland

Rush Street Interactive (RSI) has partnered with Bingo World to launch the BetRivers retail sportsbook in Maryland today.

The 3,000 square foot sportsbook features 12 self-service kiosks and three over-the-counter machines.

The sportsbook is set to open at 12:00 EST today (1 August), in a ceremony that will feature Qadry Ismail, former player for the Baltimore Ravens, BetRivers B2B services director Adam Glass and Maryland state Senator Pamela Beidle among others.

Read the full story on iGB North America.

July 8, 2022

RSI launches RushBet online casino and sportsbook in Mexico

Rush Street Interactive (RSI) has announced the launch of its RushBet online casino and sportsbook in Mexico in partnership with media conglomerate Grupo Multimedios.

Under the 25-year agreement, RSI will operate both its online casino and sportsbook across the country, utilising an online gambling licence held by a subsidiary of Mexico-based Grupo Multimedios.

The new partnership will also enable RSI to leverage Grupo Multimedios’ media assets and distribution channels for promotional and content integration.

The RushBet.mx website and accompanying RushBet mobile application will allow players over the age of 18 in Mexico to access a selection of online casino games including more than 350 slots and table games.

Players will also be able to place bets on a wide range of leading sporting events such as the Mexican Liga MX top division of club football, as well as North America’s National Football League, Major League Baseball and National Basketball Association.

RSI was the first..

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Tag: Rush Street Interactive