Rush Street Interactive Renews Partnership with Kambi Across the Americas

Kambi, reinforcing its collaboration to enhance sportsbook operations across the Americas. This partnership began in 2018 and has seen Kambi provide RSI with a robust sportsbook platform alongside core trading and risk management services. The renewal marks the second time RSI has extended its agreement with Kambi, highlighting the collaboration’s continued success and mutual benefits.

Expanding Reach in the Americas

RSI’s Kambi-powered sportsbook is now operational in 15 U.S. states, as well as in Ontario, Canada, and several Latin American countries, including Colombia, Mexico, and Peru. Kambi’s advanced technology s RSI’s offerings across multiple digital channels, enabling the company to deliver top-tier sports betting experiences through both websites and mobile applications.

RSI’s CEO, Richard Schwartz, expressed his satisfaction with the partnership, stating, “RSI always likes to put our players first and offer them high-quality and memorable betting experiences. Our partnership with Kambi has allowed us to do this, as they provide us with the core betting functionality to offer our players a robust and comprehensive sportsbook, while enabling RSI to build and integrate our own unique and innovative sports betting features and capabilities on top of the Kambi platform.”

Schwartz further emphasized the importance of this extension, noting that it would allow RSI to continue executing its strategy of combining a leading sportsbook platform with RSI’s innovative approach to sports betting. “We are pleased to have this extension with Kambi so we can continue to execute on our strategy of pairing a market-leading sportsbook platform with RSI’s ability to pioneer fun, new to the industry, betting experiences for our players,” he added.

The extension of this partnership comes on the heels of significant leadership changes at Kambi. In July, the company appointed Werner Becher as its new CEO, following the resignation of Kristian Nylén earlier this year. Becher, who previously served as CEO of sports data aggregator Sportradar, expressed his enthusiasm for the continued collaboration with RSI.

“We are delighted to extend our partnership with RSI, a company that has firmly established itself as one of the leading operators in the Americas,” said Becher. He added,“This latest extension is a testament to the strength of our partnership and the success we’ve achieved together throughout the region, and we look forward to working closely with RSI to continue delivering world-class sports betting experiences to their players.”

RSI’s Strategic Moves: Record Profits and a Revamped Rewards Program

The renewal of the Kambi partnership coincides with RSI’s recent financial success. In Q2 2024, RSI posted a record quarterly profit of $220 million, representing a 34% year-over-year increase. The company also reported a 24% growth in monthly average s across the U.S. and Canadian markets, marking the sixth consecutive quarter of North American expansion.

During the August earnings call, Richard Schwartz attributed the company’s success to its strategic approach, stating, “The new quarterly record revenue and adjusted EBITDA is a clear sign to us that our approach is working.”

However, as part of its evolving strategy, RSI is adjusting its marketing efforts. Schwartz, along with CFO Kyle Saunders, revealed that RSI has decided to scale back on deals in certain states. This move is intended to reallocate resources more effectively, allowing the company to invest more heavily in s in other markets and channels where the return on investment is higher.

In addition to these strategic shifts, RSI is also enhancing its customer rewards program. Ahead of the football season, RSI is revamping its iRush Rewards program, which is available to customers on its BetRivers and PlaySugarHouse online platforms. The updated system will feature new tier levels—Gold, Platinum, and Black—designed to enhance player engagement and retention.

Once players achieve a certain tier, they will maintain that status for at least six months. The revamped program will also introduce three types of points: Loyalty Points, Bonus Store Points, and Tier Points, each offering unique benefits and rewards to players.

With these strategic moves and the continued of Kambi’s platform, RSI is well-positioned to maintain its growth trajectory and continue delivering innovative sports betting experiences across the Americas.

Source:

”Rush Street Interactive, Kambi extend sportsbook partnership”, sbcamericas.com, August 28, 2024.