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The Connecticut Lottery Corporation and Rush Street Interactive Launch The PlaySugarHouse Retail Sportsbook
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Rush Street Interactive (NYSE: RSI) has launched its first retail sportsbook at Sports Haven in New Haven, Connecticut. This marks the beginning of in-person sports betting, with additional sportsbooks set to open soon at Bobby V's locations in Stamford and Windsor Locks. The initiative, in partnership with the Connecticut Lottery Corporation and Sportech, aims to provide bettors with accessible, state-run sportsbooks and an online betting platform through PlaySugarHouse. The rollout of 15 locations is expected to enhance the sports betting landscape in Connecticut.
Positive
Launch of the first retail sportsbook in Connecticut enhances RSI's market presence.
Plans to open 15 PlaySugarHouse locations provide significant growth opportunity.
Partnership with Connecticut Lottery boosts brand recognition and trust.
Negative
Dependence on regulatory environment poses risks for future operations.
Potential competition may impact market share and profitability.
Sports Haven in New Haven Launches Today; Bobby V’sin Stamford and Windsor Locks to also Launch in Coming Days
ROCKY HILL, Conn. & CHICAGO--(BUSINESS WIRE)--
The Connecticut Lottery Corporation, Rush Street Interactive (NYSE: RSI) (“RSI”) and Sportech today announced the launch of in-person sports betting at the first of 15 PlaySugarHouse retail sportsbooks in Connecticut. Beginning today, players will be able to place bets at Sports Haven in New Haven, CT. In the coming days, the retail sportsbooks at Bobby V's Restaurant & Sports Bar locations in Stamford, CT, and Windsor Locks, CT, will open and begin accepting bets.
“This has been a long time coming for Connecticut players, and we’re honored to be the only statewide retail operator,” said Greg Smith, President and CEO, Connecticut Lottery Corporation. “Together with our partners Rush Street Interactive and Sportech Venues, we can offer bettors world-class, in-person sportsbooks at accessible locations throughout the state and mobile sports betting under the PlaySugarHouse brand.”
“We also want to acknowledge that this day would not have been possible without the tireless and collaborative work on the part of Governor Lamont, his staff, and our Legislative leaders,” said Connecticut Lottery Corporation Board Chair Rob Simmelkjaer. “Their efforts led to a deal that benefits all of Connecticut.”
The new PlaySugarHouse sportsbooks in New Haven, Stamford and Windsor Locks offer a full suite of entertainment options, including wall-to-wall TV monitors, odds boards, food and beverage menus, and now the opportunity for fans to wager on their favorite sports, leagues and players. Eligible bettors 21 and over will be able to place a wide array of bets on various professional and collegiate sports, including parlays, prop bets and in-game bets, through self-service kiosks as well as staffed teller stations.
“We are thrilled to roll out the PlaySugarHouse retail sportsbooks in the state of Connecticut alongside the Connecticut Lottery and Sportech,” said Richard Schwartz, Chief Executive Officer of RSI. “By combining the Connecticut Lottery’s brand recognition and retail presence throughout Connecticut, Sportech’s easy-to-access venues, and RSI’s market proven products and services, we look forward to delivering convenient and exciting sports betting options to PlaySugarHouse players across the state.”
In addition to betting in-person, Connecticut players can now bet online using RSI’s award-winning platform from their mobile devices, tablets, desktop and laptop computers. The CT.PlaySugarHouse.com online sportsbook includes thousands of betting options, a broad selection of live streaming content, unique bonusing and rewards programs, numerous deposit methods, automated cash-out approvals, and user-friendly responsible gaming tools, including deposit, spend and time limits.
The PlaySugarHouse retail sportsbooks will expand to seven additional Sportech locations in Hartford, Manchester, Waterbury, Torrington, New Britain, Milford, and Norwalk throughout the coming weeks. The Connecticut Lottery and RSI are authorized to operate up to 15 PlaySugarHouse retail sports wagering locations, most of which will be within an approximately 30-minute drive for most Connecticut residents.
“Today marks a historic day for sports betting fans in Connecticut as the PlaySugarHouse sportsbook launches in New Haven,” said Ted Taylor, President of Sportech Venues, Inc. “Our Sportech team is delighted to be Connecticut Lottery’s and RSI’s partner for delivering this exciting product here and in all our other locations soon.”
To celebrate the launch of the official sportsbook of the Connecticut Lottery, representatives from the Connecticut Lottery, RSI and Sportech as well as several state and local officials and other guests will gather today for a ribbon cutting ceremony at Sports Haven at 2:00pm ET.
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 and locations of launch of the retail operations, and the availability, features and benefits of its operations in the state of Connecticut. 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.
About the Connecticut Lottery Corporation The Connecticut Lottery Corporation (CLC) is a quasi-public state agency with the mission to generate revenue for Connecticut consistent with the highest standards of good public policy and social responsibility. In fiscal year 2021, players won more than $925 million in prize money and Retailers earned more than $83 million in commissions. At the same time, the CLC provided $418 million to support the valuable services and programs funded by the state’s General Fund including public health, libraries, public safety, education and more. Since the Lottery began in 1972, its contributions to the General Fund have exceeded $10.6 billion.
The CLC reminds the public that Lottery purchasers must be 18 or older, and players must be 21 or older to place sports wagers. If you gamble, please play responsibly and use your Game Sense.
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 eleven U.S. states: Pennsylvania, Illinois, New Jersey, New York, Connecticut, 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 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 Sportech
Sportech is an international betting business, with US headquarters based in New Haven. It’s core business delivers solutions and services for gaming companies and lottery clients in highly regulated markets. Sportech also owns and operates gaming venues and digital betting platforms across the State of Connecticut under exclusive licenses. In 2020 it delivered gaming services to over 400 international clients, and in a typical year its global systems processed approximately $12.3 Billion in betting handle. For more information, visit www.sportechplc.com.
