RSI Selected to Serve as the CLC’s Exclusive Sports Betting Partner Across Mobile, Online, and Retail Channels
CHICAGO, August 12, 2021--(BUSINESS WIRE)--Rush Street Interactive, Inc. (NYSE: RSI) ("RSI"), a leading online casino and sports betting company in the United States, today announced that it has been selected by the Connecticut Lottery Corporation ("CLC") as its sports betting operations partner for the CLC’s soon-to-launch sports wagering business. Through this 10-year agreement and subject to regulatory approvals, RSI will serve as the CLC’s exclusive provider of a state-of-the-art sports betting system for mobile, online, and retail channels, as well as the operator of the CLC’s mobile/online sportsbook.
"We are honored to be selected by the CLC to bring sports betting to the state and people of Connecticut," said Richard Schwartz, President of RSI. "This partnership represents a significant milestone for RSI, as the trust and confidence of a state-backed organization such as the CLC further validates the strength of our award-winning online gaming platform and customer service. Building on our proven track record of success in the tri-state area, where RSI was an early entrant in New Jersey and is the market leader in retail sports betting amongst New York’s commercial casinos, we are thrilled to collaborate with the CLC team to offer Connecticuters safe, convenient, and unique gaming experiences."
Subject to RSI’s receipt of a license from the Connecticut Department of Consumer Protection, the CLC, in partnership with RSI, will have the right to operate a statewide online sports betting skin and up to 15 retail sports betting locations, including venues in Hartford, Bridgeport, and other high-traffic locations spread throughout the state. The CLC is one of only three entities in Connecticut with rights to operate mobile and retail sports betting and is the only entity with the ability to operate retail sports betting outside of tribal territories. The Connecticut Lottery Corporation is a billion-dollar enterprise with nearly 3,000 retailers throughout the state. 11 of the CLC’s sports betting retail locations will be located in seven of the state’s 10 most-populous cities, serving more than a quarter of Connecticut’s population.
"Rush Street Interactive is a respected sports betting and gaming company that has established itself as a leading innovator in the industry," said Rob Simmelkjaer, Chairman, CLC Board of Directors. "We are impressed not only with RSI’s successes in other jurisdictions, particularly in neighboring New York and New Jersey, but also its commitment to responsible gambling practices."
"We look forward to working with the team at Rush Street Interactive," said Greg Smith, CLC President & CEO. "We had 15 quality proposals from well-established gaming companies, and RSI rose to the top through the combination of its experience and commitment to quality products, customer service, and responsible gaming safeguards. We’re excited about this partnership and know our players will be getting an excellent product and customer service."
RSI is currently live in eleven jurisdictions, including ten states and one international market, Colombia. Based on publicly available data, RSI is the market leader in the three most populous states that have legalized retail sports betting – Illinois, Pennsylvania and New York – and is a top five online sports betting company in the United States per gross gaming revenues over the past 12 months, according to a July 2021 report from industry market research firm, Eilers & Krejcik.
Mr. Schwartz concluded, "As gaming comes online in more and more states across the country, RSI continues to establish itself as a leader in the industry. By leveraging our in-house technology and platform, along with our proven operations, we believe we can deliver strong value and results to forward-thinking government entities or businesses. We continue to make rapid strides in our expansion and in the successful execution of our omnichannel approach to delivering best-in-class products and services to online and retail customers alike."
RSI is a trusted online gaming and sports entertainment company focused on regulated markets in the United States and Latin America. Through its brands, BetRivers.com and PlaySugarHouse.com, RSI was an early entrant in many regulated jurisdictions and is currently live with real-money mobile, online and/or retail operations in ten U.S. states: Pennsylvania, Illinois, New Jersey, New York, Michigan, Indiana, Virginia, Colorado, Iowa and West Virginia. RSI is also active internationally, offering its online casino and sportsbook in the regulated gaming market of Colombia on RushBet.co. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 in Chicago by gaming industry veterans, RSI was named the 2020 Global Gaming Awards Digital Operator of the Year and the 2020 EGR North America Awards Casino Operator of the Year and Customer Service Operator of the Year. RSI is committed to industry-leading responsible gaming practices and seeks to provide its customers with the resources and services they need to play responsibly. For more information, visit www.rushstreetinteractive.com.
About the Connecticut Lottery Corporation
The Connecticut Lottery Corporation (CLC) is a quasi-public state agency with the mission to generate revenue for Connecticut consistent with the highest standards of good public policy and social responsibility. In fiscal year 2021, players won more than $925 million in prize money and Retailers earned more than $83 million in commissions. At the same time, the CLC provided $418 million to support the valuable services and programs funded by the state’s General Fund including public health, libraries, public safety, education and more. Since the Lottery began in 1972, its contributions to the General Fund have exceeded $10.6 billion.
The CLC reminds the public that Lottery purchasers must be 18 or older, and players must be 21 to place sports wagers. If you gamble, please play responsibly and use your Game Sense.
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. RSI's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, RSI's expectations about its partnership with the CLC and the anticipated products and services made available in connection with that partnership. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside RSI's control and are difficult to predict. Factors that may cause such differences include, without limitation, changes in applicable laws or regulations, unanticipated product or service delays, and other risks and uncertainties indicated from time to time in RSI's most recent Annual Report on Form 10-K, including those under "Risk Factors" therein, and in RSI's other filings with the SEC. RSI cautions that the foregoing list of factors is not exclusive. RSI cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. RSI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
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