Published at 09:18, December 13, 2022
The last update was December 13, 2022, at 09:46h
Colombia, a South American nation is now the center of Latin American online gambling. It’s attracted several international operators recently, and Rush Street Interactive (RSI) is now part of the group.
Rush Street Interactive’s new Bogotá, Colombia office sports a video entertainment wall. American-based casino operator Rush Street Interactive is opening new offices in South American. Rush Street Interactive.
Last week, Betsson announced that it was setting up a new operations center in the city of Bogotá. This was just three months after FSB had opened its tech hub in Medellin.
RSI has two new offices, one in Bogotá and the other in Medellin. The addition of US-based RSI, which owns the BetRivers and PlaySugarHouse online gambling brands, is further helping Colombia’s gaming industry grow and support other activity in the region.
RSI ready for Latin America
The new RSI office in Bogotá spans 8,000 square feet and will be the company’s headquarters for all of its operations across Latin America. In order to help its employees stay in the right mindset, the operator employed a novel approach when designing the spaces.
Employees can watch all of the sports live on multimedia walls. One space could be used by the marketing department as a half-court for pick-up basketball. The conference rooms can also be used as poker rooms and have a set to simulate a stadium.
Eight hours away in Medellin to the north, RSI plans to operate a new tech center. This city is a leader in tech innovation. To become the “Silicon Valley” of Colombia, and Latin America in general, skilled techno talent has been developed by the local government.
RSI doesn’t have the domestic US footprint that other companies like DraftKings and FanDuel have, but it is setting itself up to be a global powerhouse. It’s the first US-based gaming operator to enter Colombia and already has several key regional partnerships under its belt, including one with Spanish soccer league LaLiga.
RSI’s RushBet brand became the league’s official partner in the country last year and expanded to cover all of South America a couple of months ago.
RSI Eyes Growth
The third quarter was covered in the most recent financial health report by RSI. It showed encouraging results. Revenue was $148million, which is a 20% increase year-over-year.
This coincided with the start of fall football season. However, not all quarters were positive. To stay competitive, sportsbooks increased their spending to support increased sport action. RSI’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was $12.5 million, a 2.5% drop from last year.
It also reported a quarterly net loss. The company lost $22.7million, which is $3.8million more than the year before. RSI’s positive side is that it has seen an upward trend in its revenue for 14 quarters and does not have any outstanding debt.