Business
Rush Street Interactive Secures Online Casino and Sports Betting Market Access Opportunities in Ohio, Maryland and Missouri
RSI Enters into Strategic Partnership with Penn National Gaming CHICAGO--(BUSINESS WIRE)-- Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), one of the most
About this update from Penn Entertainment, Inc.
[{"type":"text","content":"\nRSI Enters into Strategic Partnership with Penn National Gaming\n\n CHICAGO--(BUSINESS WIRE)--\nRush Street Interactive, Inc. (NYSE: RSI) (“RSI”), one of the most trusted and fastest-growing online casino and sports betting companies in the United States, today announced that it has secured market access opportunities in Ohio, Maryland and Missouri.\n\nRSI has entered into a strategic partnership agreement with Penn National Gaming, Inc. (Nasdaq: PENN) (“Penn National”). Under the terms of the agreement, RSI will have the ability to offer its award-winning BetRivers.com real-money online casino and sports betting platform for up to 20 years in Ohio, Maryland and Missouri through potential second skins in each of those states, subject to license availability, state law and regulatory approvals. Upon and following the launch of the skins, RSI will compensate Penn National with industry-standard payments for market access.\n\n“We are pleased to gain potential market access to three new states as we continue the execution of our strategy to gain access and bring our best-in-class online gaming offerings to key markets across the United States,” said Richard Schwartz, president of RSI. “The addition of Ohio, Maryland and Missouri to our market access portfolio, specifically, builds on RSI’s success in neighboring states and will create enhanced marketing efficiencies for our BetRivers.com brand. We continue to engage in productive dialogue with industry participants, such as tribal and commercial casinos and other stakeholders, to further our expansion into new states. We expect to continue entering into additional market access arrangements in the future, as other opportunities arise.”\n\nRSI currently operates online gaming sites available for customers to play today in eight states with a combined population of more than 68 million, including Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, Pennsylvania and Virginia. Taken together with our ability to access markets under applicable regulations or potentially access them through our existing market access deals for online gaming in New York, Ohio, Maryland, Missouri and West Virginia, RSI now has the potential, with first or second skins, to access online gaming markets reaching more than 35% of the U.S. population. In addition to its industry leading real-money online c...