Rush Street Interactive has received igaming operator registration from the Alcohol and Gaming Commission of Ontario, ahead of the group adding its third operational country next month.
This will see the company, subject to satisfying all remaining regulatory requirements, launch its BetRivers online casino and sportsbook in the Canadian province on April 4, 2022, the first day online gaming will be authorised in the region.
RSI is currently live in Ontario with its free-to-play social gaming platform, Casino4Fun, which is accessible from BetRivers.ca and is powered by the same proprietary technology behind its real-money platform.
Upon the launch of the BetRivers igaming and sports betting entity, Canada will join the United States and Colombia to become the third country where RSI operates real-money online gaming.
The company also has access to the Mexican online casino and sports betting markets through a collaboration with media conglomerate Grupo Multimedios, where it expects to launch the aforementioned activities during the second quarter of 2022.
“The receipt of our registration in Ontario is an important milestone that demonstrates our commitment to operating only in legalized markets where we pay local taxes, and we are grateful for the trust of the AGCO,” said Richard Schwartz, Chief Executive Officer of RSI.
“We are now one step closer to launching the BetRivers real-money online casino and sportsbook in Ontario and bringing our unique betting options, such as our innovative peer-to-peer slot tournaments or same game parlays, fast payouts, and award-winning customer service to the province’s millions of residents.
“Our free-to-play social gaming platform has experienced strong traction in Ontario to date, and we look forward to offering those players similarly entertaining and responsible experiences when our real-money offerings come April 4.”
Last week, Rush Street asserted that it is focused on “building a sustainable long-term business” with “profitability the goal since founding” almost ten years ago, as the group eyed further North American launches in the near future.
This came as the company reported that during the past year’s fourth quarter, which brought US expansions in Connecticut and Arizona, revenue increased 31 per cent year-on-year to $130.6m (2020: $100m), as net loss narrowly dropped from $41.6m to $38.1m. Adjusted EBITDA losses widened to $31.2m compared to $1.3m one year earlier.
On a full-year basis, revenue increased 75 per cent to $488.1m (2020: $278.5m) and net loss closed to $71.7m (2020: 131.6m), but AEBITDA losses grew to $65.1m from 2020’s $4.4m.