Expected to Launch Operations in the Second
Quarter of 2022, Bringing Online Casino and Sports Betting to
Mexico’s Population of More Than 130 Million
Builds Upon RSI’s Award-Winning Track Record
of Success in Latin America
Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading
online casino and sports betting company in the United States and
Colombia, today announced that it has entered into an exclusive
partnership with Mexican media conglomerate Grupo Multimedios to
bring RSI’s award-winning online gaming platform to Mexico. Under
the terms of the 25-year agreement, RSI will operate online casino
and sports betting countrywide in close partnership with Grupo
Multimedios, a subsidiary of which holds a license to operate
online gaming in Mexico. The partnership also enables RSI to
leverage Grupo Multimedios’ vast array of media assets and
distribution channels for promotional and content integration
purposes. RSI and Grupo Multimedios expect to launch operations in
the second quarter of 2022.
Grupo Multimedios, whose rich history in Mexico dates back 89
years, spans multiple industries including media, sports,
entertainment, wines, food, retail and real estate. The company’s
portfolio of media assets encompasses television, radio, print,
billboards, and digital, and includes Mediotiempo, a digital sports
property attracting more than 7 million unique users per month, and
growing at a 29% CAGR; Milenio, the number one digital national
news and information source in Mexico with 27.7 million unique
users per month; and Canal 6, its network of 22 television stations
and 63 radio stations.
Grupo Multimedios started with a strong presence in its home
base of Monterrey and has been able to deploy its coverage
throughout the Mexican market. It has expanded into several
businesses beyond media and holds ownership in multiple sports
teams, including the Sultanes de Monterrey, one of the most
prestigious teams in the Mexican Baseball League, as well as two
professional basketball teams. The company’s real estate, retail,
and food interests include hundreds of properties, stores, and
restaurants across the country.
Richard Schwartz, Chief Executive Officer of RSI, said, “We are
excited to partner with Grupo Multimedios, one of the most
respected media enterprises in Mexico, which we believe will serve
as a great accelerant for building our online gaming operations in
the country. Mexico represents an attractive market opportunity,
with a population of more than 130 million, which, when combined
with Colombia’s population of 50 million, will expand RSI’s
offering in Latin America significantly. We were deeply impressed
by Grupo Multimedios’ management team and long track record of
success, including the growth of its digital businesses in Mexico,
which will be extremely valuable as we launch and grow our business
in Mexico.”
Angel Cong, Co-CEO of Multimedios, said, “It is very exciting to
start this partnership with RSI, their experience and amazing team
will help our group achieve a new partnered vision of continuous
growth and entrepreneurship. RSI has been successful in the
American and Colombian online casino and sportsbook markets; we
have no doubt that together we will achieve the same in Mexico.
With this partnership, both RSI and Multimedios will take advantage
of our media assets to be a strong and successful competitor.”
RSI was the first U.S. gaming company to launch a regulated
online sportsbook in Latin America when it launched RushBet.co in
2018. In the most recent quarter with published data from
Colombia’s gaming regulatory body, RushBet.co accounted for nearly
20% of online casino and sports betting handle in the country.
Moreover, the platform was recognized as Sportsbook Operator of the
Year at the SBC Latinoamérica Awards 2021. RSI is the fourth
largest operator of online casino and sports betting combined in
the United States as of December 2021, per Eilers & Krejcik,
with real-money mobile, online and/or retail operations in thirteen
U.S. states.
“As the first U.S. gaming company to launch a regulated online
gaming sportsbook in Latin America, we have a deep understanding
and appreciation for the communities where we operate and the
localization that is needed to thrive in the Latin American market.
We look forward to leveraging the infrastructure, operations team,
and relationships developed during our five years of business in
Latin America as we expand our best-in-class online gaming platform
to a growing Mexico market. We are thrilled to build on our
existing success in Latin America and will continue to expand our
presence in the region and globally,” said Mr. Schwartz.
About Rush Street Interactive
Rush Street Interactive 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 thirteen U.S. states: Pennsylvania,
Illinois, New Jersey, New York, Connecticut, Michigan, Indiana,
Virginia, Colorado, Iowa, West Virginia, Arizona and Louisiana. RSI
is also active internationally, having been recognized as
Sportsbook Operator of the Year at the SBC Latinoamérica Awards
2021, where it offers 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 2021 EGR North America Awards Casino
Operator of the Year, Customer Services Operator of the Year and
Social Gaming 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 Grupo Multimedios
Multimedios is the fastest growing and most relevant media group
in Mexico. Since its foundation in 1933 as a single radio
broadcasting station in Monterrey, Mexico, the company has
multiplied its value and reach through new innovative media
outlets, and now has presence not only in Mexico, but also the
United States, Spain and Central America.
Multimedios is composed of several prestigious brands in various
sectors. In news and broadcasting it includes Milenio and
Telediario; in entertainment, Canal 6, Canal 8 and 63 radio
stations; in outdoor advertising, Pol, which has more than 6,000
advertising panels in Mexico and Central America. It also
participates in commercial printing with the brand Multigrafica,
which has 3 printing facilities in Mexico. In sports, Multimedios
owns successful digital sports native Mediotiempo, an online sports
information platform, and the trustworthy brand with legacy: La
Afición.
Multimedios takes advantage of its traditional and digital
content creation process, one of its core competencies, to
participate in book publishing, with a robust portfolio of top
brands: Madre Editorial, Ríos de Tinta, App Editorial and
Librotea.
The holding company, owner of Multimedios, has interest in the
following sectors to maintain a diverse and balanced investment
portfolio: Real Estate, Basketball and Baseball teams, Wines &
Spirits, Retail, Food and Entertainment, and Sustainability.
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 the anticipated timing of launch of its
operations in the country of Mexico, the expected benefits of its
partnership with Grupo Multimedios, and its anticipated results of
its operations and future performance in the country of Mexico.
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/20220131005307/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 Grupo Multimedios Media: Israel Gutierrez
israel.gutierrez@multimedios.com 81 8880 4455
Legal: Diana Fernandez diana.fernandez@milenio.com 55 5140
4900
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