Rush Street Interactive Lands Ontario License

Posted on: March 10, 2022, 08:14h. 

Last updated on: March 11, 2022, 09:48h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Rush Street Interactive announced today it garnered its iGaming Operator Registration from the Alcohol and Gaming Commission of Ontario (AGCO). That positions the gaming company to enter Canada’s largest province.

RSI Ontario
Toronto Maple Leafs’ star Auston Matthews. Rush Street Interactive is preparing to bring iGaming and sports betting to Ontario. (Image: Getty Images)

The operator already offers free-to-play games in Ontario and joins a slew of companies angling to enter the province ahead of private-operator launches next month.

RSI plans to satisfy all remaining regulatory requirements and launch its award-winning BetRivers online casino and sportsbook in Ontario on April 4, 2022, the first day online gaming will be authorized in the province,” according to a statement issued by the company.

Last August, Canada passed the Safe and Regulated Sports Betting Act, paving the way for single-game sports betting for regulation at the provincial level.

Rush Street Continues Expansion

With the move into Canada, RSI will be operational in three countries, with the other two being the US and Colombia.

Through a recently announced agreement with media conglomerate Grupo Multimedios, the gaming company has rights to enter Mexico, which is expected to happen in the second quarter. Analysts believe RSI can reach five percent to 10 percent market share in Mexico, which implies incremental revenue of $20 million to $40 million to go with $40 million in Colombia. That underscores that there is significant sports wagering potential in Latin America.

RSI operates under the BetRivers and PlaySugarHouse brands, and is currently available with either mobile or retail businesses in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and West Virginia.

Following a minority investment in mobile games developer Boom Entertainment, which was announced in August, RSI gained access to Louisiana, Mississippi, and New Mexico.

Canada Compelling

Though it’s fresh on the regulated sports wagering scene, Canada is expected to be a key contributor to North American iGaming and sports betting growth. Operators, including plenty based in the US, are aware of that fact.

In addition to RSI, US-based gaming companies, including Caesars Entertainment, DraftKings, and Penn National Gaming are already establishing footholds in what analysts believe will be a sports wagering market that eventually generates a handle of more than $25 billion and revenue north of $2 billion.

Ontario is home to 14.57 million of the country’s 37.59 million residents, and is the most diverse from a sports perspective, with four professional teams from US leagues — two NHL franchises, the NBA’s Toronto Raptors, and Major League Baseball’s Toronto Blue Jays.

Leveraging its social casino brand, CASINO4FUN, RSI entered Canada with free-to-play games last October.