Inspired Launches Virtual Sports with Rush Street Interactive on BetRivers in NJ
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Insights
The partnership between Inspired Entertainment, Inc. and Rush Street Interactive, Inc. represents a strategic move within the online gaming and sports betting industry. This collaboration is likely to expand Inspired's market presence and increase its product accessibility, potentially leading to revenue growth. Given the popularity of sports betting in New Jersey, the entry of Inspired's Virtual Sports content could capture a significant market share and enhance user engagement for BetRivers.
It is important to analyze how this partnership may affect the competitive dynamics of the industry. The inclusion of Virtual Sports content is a differentiation strategy that can attract a niche audience seeking alternatives to traditional betting. This could lead to increased customer retention and higher average user spend on the BetRivers platform. Monitoring the user adoption rate post-launch will be key in assessing the success of this initiative.
Investors should consider the potential financial implications of this partnership for both Inspired Entertainment and Rush Street Interactive. The deal may result in a diversified revenue stream for Inspired, as it leverages RSI's established platform to reach new customers. The announcement mentions plans for expansion into other states, indicating a growth strategy that could lead to increased market penetration and scale economies.
From a financial perspective, it is essential to evaluate the terms of the partnership and how revenue will be shared. Additionally, the impact on the companies' operating margins and the costs associated with the expansion should be scrutinized. If Inspired's Virtual Sports content proves successful in New Jersey, it could serve as a model for similar agreements in other jurisdictions, potentially enhancing the long-term financial outlook for both companies.
Entering the New Jersey market requires compliance with specific regulatory standards set by the New Jersey Division of Gaming Enforcement. The partnership signifies that both Inspired and RSI have navigated the necessary legal frameworks to offer Virtual Sports betting. It is crucial to monitor any regulatory changes that could impact the provision of such services, as the legal landscape for online gambling and sports betting is subject to change.
Furthermore, the expansion of this service into additional states will require a tailored approach to meet varying state regulations. The legal expertise to manage multi-state compliance will be an ongoing necessity for the partnership to ensure uninterrupted operations and avoid potential legal challenges that could affect business performance.
NEW YORK, March 12, 2024 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading B2B provider of gaming content, systems, and solutions, is proud to announce the launch of its best-in-class Virtual Sports content in New Jersey through a partnership with Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading online sports betting and casino company in the United States.
Inspired's Virtual Sports content is now accessible to BetRivers players through its renowned BetRivers sportsbook and casino, providing players in New Jersey an engaging experience. This launch is the first of many planned across other states with RSI in the coming year.
"We are thrilled to partner with RSI to bring Inspired's premium Virtual Sports to BetRivers players in New Jersey. This collaboration will enhance the gaming experience for BetRivers players and complement their sports betting options," said Brooks Pierce, President and Chief Executive Officer of Inspired. "Our strong relationship with Rush Street Interactive and their exceptional BetRivers platform make them an ideal partner for us."
"Reintroducing Inspired's Virtual Sports with their latest new and improved catalogue of events, including key US sports, to BetRivers in NJ is a significant addition," said Richard Schwartz, Chief Executive Officer of Rush Street Interactive. "Our aim is to continually elevate our customers' gaming experiences with premium content. Inspired is known for its exceptional Virtual Sports offerings, and we are excited to work together to provide a new and improved online entertainment experience for our players."
The partnership between Inspired and RSI highlights a shared commitment to delivering high-quality gaming content and innovative solutions to players in the rapidly expanding online gaming industry. With the launch of Inspired's Virtual Sports on BetRivers, players in New Jersey can look forward to a dynamic, interactive gaming experience that sets new standards for Virtual Sports entertainment.
About Inspired Entertainment, Inc.
Inspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across land-based and mobile channels around the world. Inspired's gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. Inspired operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for more than 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; digital games for 170+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 16,000 gaming terminals. Additional information can be found at www.inseinc.com.
About Rush Street Interactive
RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada, and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in thirteen U.S. states: Pennsylvania, Illinois, New Jersey, New York, Connecticut, Michigan, Indiana, Virginia, Colorado, Iowa, West Virginia, Arizona and Louisiana, as well as in the regulated international markets of Ontario, Canada, Colombia and Mexico. 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 2022 EGR North America Awards Operator of the Year, Customer Services Operator of the Year and Social Gaming Operator of the Year, and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit www.rushstreetinteractive.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “will,” “would” and “project” and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on Inspired’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Inspired’s control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing Inspired’s views as of any subsequent date and Inspired does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law. You are advised to review carefully the “Risk Factors” section of Inspired’s annual report on Form 10-K for the fiscal year ended December 31, 2022, and in subsequent quarterly reports on Form 10-Q, which are available, free of charge, on the U.S. Securities and Exchange Commission’s website at www.sec.gov and on Inspired’s website at www.inseinc.com.
Contacts:
Investor Relations
IR@inseinc.com
+1 646 277 1285
For Press and Sales
inspiredsales@inseinc.com
www.inseinc.com
@Inspired_News
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