RSI Selected to Serve as the CLC’s Exclusive
Sports Betting Partner Across Mobile, Online, and Retail
Channels
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.”
About RSI
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.
Forward-Looking Statements
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210812005764/en/
For RSI Media: Lisa Johnson (609) 788-8548
lisa@lisajohnsoncommunications.com or Jonathan Gasthalter / Carissa
Felger / Sam Fisher (312) 319-9233 / (212) 257-4170
rsi@gasthalter.com Investors: ir@rushstreetinteractive.com For CLC
Media: Tara Chozet (860) 502-9543 tara.chozet@ctlottery.org
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