The popular operator of online casinos in Pennsylvania and New Jersey, as well as a provider of content and technology for the gambling industry, Rush Street Interactive (RSI), announced that its collaboration with the Connecticut Lottery Corporation is planned to wind down.
Announced Monday, the company said that the in-person sports betting and online partnership in Connecticut is expected to gradually come to an end. The announcement would also see the Connecticut Lottery start a search for a new company to power its operations. A statement released by RSI acknowledges that the Lottery is expected to start that process soon.
Richard Schwartz, RSI’s CEO, thanked the Lottery for the successful collaboration that has been ongoing for years. He pointed out that the partnership with the Lottery helped RSI reach customers in Connecticut. Schwartz explained that the wind-down of the partnership is in line with RSI’s long-term strategic goals. According to him, gradually ending this partnership would be in the best interest of the company, as well as its stockholders.
“Consistent with our long-term strategic goals, after much deliberation and discussions with the CLC, we believe it is in the best interest of RSI and our stockholders to wind down this partnership.“
Richard Schwartz, CEO of RSI
RSI’s CEO pointed out that the company remains committed to delivering its services for the Lottery until a new operator is selected. Finally, Schwartz pointed out: “Through the transition we plan to continue to support all player wagers and ensure a positive player experience and expect the changeover will have an immaterial impact on our guidance for 2023.”
Transition Unlikely to Impact the Lottery’s Betting Operations
Commenting on the topic, the Connecticut Lottery’s president, Gregory Smith, thanked Rush Street for its collaboration. He explained that the partnership with RSI helped establish the Lottery’s sports betting operations and this applies not only to the online but to the retail vertical as well.
“We thank RSI for working closely with CLC to establish the foundation for CLC’s sports betting operation, both online and in retail.“
Gregory Smith, president of the Connecticut Lottery Corporation
RSI explained that despite the plans to wind down the partnership, it will continue to support the online and retail betting operations of the Lottery while ensuring that bettors benefit from valid wins and wagers during the transition period. At the same time, the company vowed to collaborate with the Lottery to limit the disruptions that may be caused by the transition. The transition process to a new operator is expected to be finalized by the second half of this year.