High 5 Games sees ‘excellent’ RSI alliance extended into Pennsylvania

As the state’s fiscal year came to a close, the Pennsylvania Gaming Control Board published a record figure for yearly tax revenue - standing at over $2.3bn for 2022/2023.

High 5 Games has built upon an “excellent relationship” with Rush Street Interactive as the igaming supplier looks to capitalise on an “immense growth opportunity”.

This expanded alliance has seen the former taking its range of online casino games live with the PlaySugarHouse and BetRivers brands in Pennsylvania.

Rush Street becomes the first to take this igaming suite to the Keystone State, with integration into the platform said to allow for “more rapid deployment” of new game content in this and other markets.

Anthony Singer, CEO of High 5 Games, commented: “Over the last few years, we’ve had an excellent relationship with Rush Street Interactive. We’re thrilled to solidify our partnership by directly integrating our games into their platform. 

“The direct integration gives us the power to expand into new markets faster and be wherever Rush Street Interactive is currently and in the future. 

“We’re now fully migrated to their platform in Michigan and New Jersey, recently launched in Pennsylvania and Ontario, with more markets to come.” 

This builds upon a long standing partnership between the two, which has previously seen content deployed in Michigan, New Jersey and Ontario, with more markets expected to follow suit in the near future. 

Richard Schwartz, Chief Executive Officer at RSI, added: “We’re so pleased to have extended our partnership with High 5 Games to now be live with their casino content in Pennsylvania. 

“We’re confident our players will thoroughly enjoy the fantastic portfolio of games this well respected global casino tech company has to offer. We look forward to going live with them in other RSI markets.”

Last month, RSI cited currency fluctuations impacting international revenue as a key reason in lowering 2022 revenue expectations, as group CEO Richard Schwartz reflected on the “fantastic progress” made towards profitability through Q3.

This aforementioned ambition has long targeted reaching this EBITDA target by the second half of 2023, which, as Schwartz reaffirmed, will be achieved through “a combination of solid revenue growth, disciplined marketing spend, improving gross margins and modest growth in our corporate G&A costs”.

An analysis of key growth markets offered during a third quarter earnings call followed RSI reporting a 20 per cent revenue increase through Q3 to $148m (2021: $122.9m). 

Despite this, net loss and AEBITDA loss tracked the reverse after closing the period at $22.7m (2021: $18.9m) and $12.5m (2021: $12.2m), respectively.