(AsiaGameHub) – Rush Street Interactive is monitoring prediction markets, but the parent company of BetRivers prefers to keep discussions centered on other areas. CEO Richard Schwartz explained that competitors’ focus on sports event contracts provides Rush Street with greater flexibility to expand its online casino offerings.
Key Points
- Rush Street has not yet entered the prediction market sector.
- The company views the legalization of online casino as its most promising near-term opportunity.
- Alberta, Virginia, Maine, New York, and Illinois are among its top expansion priorities.
Following closely behind is Alberta, where Rush Street anticipates joining over 30 operators when both sports betting and iGaming launch on July 13. The company revised its revenue guidance upward by $115 million and adjusted the midpoint by $20 million, while also forecasting a $10 million cost impact related to the launch and marketing efforts.
Kyle Sauers, president of Rush Street, noted that lessons learned from Ontario will prove valuable, even amid a highly competitive market on day one. He stated:
“We’ll remain flexible and consider additional investments if conditions in Alberta perform well. Thanks to our experience in Ontario, we believe we’re better prepared for this launch compared to our entry into Ontario—though it will certainly be competitive, as numerous operators are launching simultaneously.
“We’re very enthusiastic about the Alberta opportunity.”
Online Casino Takes Center Stage
Rush Street perceives a strategic opening within U.S. politics. The emergence of prediction markets through Kalshi and Polymarket, along with similar products from FanDuel, DraftKings, and Fanatics, has introduced increased uncertainty regarding future sports betting revenues. Schwartz believes this environment strengthens the case for regulated online casino.
“While others are preoccupied with their sports betting operations and must allocate significant financial resources and leadership attention to them, we’re concentrating on executing and innovating further in the casino-first space,” Schwartz remarked. “This actually gives us a strong advantage to help pass online casino legislation in certain states that fear losing perceived sports betting revenues and face uncertainty about that revenue stream’s future.”
Virginia nearly approved iGaming in 2026 after legislative chambers passed bills, but disagreements between the House and Senate delayed final approval, pushing it to 2027. Nonetheless, Sauers still described Virginia as a “significant market” and likened its potential to Michigan, where Rush Street is “approaching a $300 million GGR run rate.”
Maine already enacted online casino legalization in 2026, though litigation has temporarily stalled implementation. Rush Street intends to remain “actively involved” in the state once the legal challenge concludes.
New York and Illinois continue to represent major objectives. Schwartz highlighted that federal Medicaid changes could prompt states to seek alternative tax sources, with online casino offering a proven solution. He added:
“States such as New York and Illinois may see even larger surpluses in this sector, and they recognize that online casinos provide a reliable, substantial means of generating significant tax revenue. Consider Michigan—over the past five years, they’ve generated billions in revenue, representing a transformative contribution to all these states’ finances.”
Rush Street continues to hold plans for entering prediction markets. Schwartz emphasized that while the company closely monitors the federally regulated landscape, it will only act when the opportunity aligns with its strategy:
“For now, Rush Street remains on the sidelines regarding prediction market ventures, but we’ll never be unprepared. We continuously monitor developments and maintain readiness strategies. Should a suitable opportunity arise, we’ll move forward.”
Player retention remains central to the casino strategy. Schwartz stressed that customers remain loyal when operators treat them respectfully, deliver enjoyable and unique experiences, and demonstrate genuine care in product development.
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