Rush Street Interactive Invests in Online Casino Supplier & Technology Provider Boom Entertainment; Secures Mobile Sports Betting and Casino Market Access Rights in Louisiana, Mississippi, and New Mexico
Rush Street Interactive (NYSE: RSI) has announced a minority investment in Boom Entertainment, a top game developer. This partnership includes a commercial agreement where Boom will integrate its gaming technology into RSI's platform and develop exclusive games. Additionally, RSI gains market access to operate online gaming in Louisiana, Mississippi, and New Mexico, pending regulatory approvals. RSI aims to enhance its offerings, particularly with a mobile betting launch in Louisiana during the football season. The collaboration is expected to bolster RSI's user experience and game diversity.
- Minority investment in Boom Entertainment to enhance gaming portfolio.
- Exclusive rights to custom games developed by Boom for at least one year.
- Market access opportunities in Louisiana, Mississippi, and New Mexico for online gaming operations.
- Expected launch of mobile sports betting in Louisiana during the upcoming football season.
- None.
Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading online casino and sports betting company in the United States, today announced that it has made a minority investment in Boom Entertainment (“Boom”), a premier game developer and technology provider that has created and operated some of the most successful sports gaming apps in the United States on behalf of numerous leading brands.
In addition to the investment, RSI and Boom have entered into a comprehensive commercial agreement. As part of that agreement, Boom will integrate its remote gaming server and license online casino and sports betting games for RSI to make available to its real money and social casino players via RSI’s proprietary online gaming platform. Boom will also develop certain custom games for which RSI will have exclusivity rights on for at least one year, ensuring RSI will be able to offer its players unique and differentiated games to play.
Additionally, through Boom’s relationship with certain land-based casinos in Louisiana, Mississippi, and New Mexico, RSI will receive market access opportunities to operate online casino and sports betting in those new states, subject to license availability, state law and regulatory approvals. In Louisiana, RSI expects to launch mobile sports betting operations during the upcoming football season following the legalization of sports betting in the state in June 2021.
Richard Schwartz, President of RSI, said, “Boom shares our focus on technological excellence and innovation, and the team has a proven ability to design games that retain players through simple, yet creative, game mechanics. By bringing this content to BetRivers.com and PlaySugarHouse.com, our investment and partnership with Boom are consistent with RSI’s strategy to offer customers the best user experience and widest range of games available in the industry. Moreover, we are very pleased to add Louisiana, Mississippi, and New Mexico to the growing list of states in which RSI has obtained market access relationships as we continue to expand across the country and position RSI to reach gaming enthusiasts wherever they may be.”
Founded in 2015 and based in New York, Boom has established itself as a best-in-class game developer and technology provider, helping to augment the online gaming offerings of such partners as NBC Sports, MSG Network, and Golf. Boom develops rapidly scalable products and content across the online casino and free-to-play categories, including its highly successful flagship product, NBC Sports Predictor. Its proprietary platforms help Boom’s partners create valuable user databases and conversion funnels for real-money gaming.
Boom is led by seasoned gaming and technology executives Stephen A. Murphy, Co-Founder and CEO, and Med Nadooshan, President and CTO. The team has over a decade of experience creating some of the gambling industry’s most popular casino games.
Mr. Murphy said, “We are excited to partner with RSI, an industry leader who understands and appreciates the importance of high-quality game design. We have long discussed collaborating with RSI on innovative games and products, and we are excited to bring many of these opportunities to life in the coming months and years.”
Mr. Schwartz concluded, “Having worked with the Boom management team during their time in leadership roles at High 5 Games, we are deeply familiar with the quality and reliability of the products they have built and have always admired the vision, experience, and passion they bring to our industry. We look forward to participating in Boom’s continuing growth together with the rapid growth of online gaming.”
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 Boom Entertainment
Boom Entertainment, formerly known as Boom Sports, has established itself a leader in the emerging US online gaming industry as a provider of world-class gaming content and platform technology. The company’s highly successful flagship product, NBC Sports Predictor, has led to partnerships with blue-chip brands in the media, league, casino, and retail verticals.
Based in NYC, Boom builds and operates premium, innovative, and highly accessible games that entertain millions of users and create value for partners in the form of mobile engagement, user acquisition, funnel management, and online gaming revenue. Boom’s proprietary gaming-as-a-service platform and licensed remote gaming servers are delivered with an emphasis on high-touch service, speed, and reliability. For more information, visit www.playboomsports.com.
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 investment in and partnership with Boom Entertainment, the anticipated products and services made available in connection with that partnership, RSI’s expectations around its market access opportunities and its anticipated launch in Louisiana. 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.
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