RSI Enters Mexico Through Partnership with Grupo Multimedios
Rush Street Interactive, Inc. (RSI), an online casino and sports betting company in the United States and Colombia, today announced that it has entered into an exclusive partnership with Mexican media conglomerate Grupo Multimedios to bring RSI’s award-winning online gaming platform to Mexico. Under the terms of the 25-year agreement, RSI will operate online casino and sports betting countrywide in close partnership with Grupo Multimedios, a subsidiary of which holds a license to operate online gaming in Mexico. The partnership also enables RSI to leverage Grupo Multimedios’ vast array of media assets and distribution channels for promotional and content integration purposes. RSI and Grupo Multimedios expect to launch operations in the second quarter of 2022.
Grupo Multimedios, whose rich history in Mexico dates back 89 years, spans multiple industries including media, sports, entertainment, wines, food, retail and real estate. The company’s portfolio of media assets encompasses television, radio, print, billboards, and digital, and includes Mediotiempo, a digital sports property attracting more than 7 million unique users per month, and growing at a 29% CAGR; Milenio, the number one digital national news and information source in Mexico with 27.7 million unique users per month; and Canal 6, its network of 22 television stations and 63 radio stations.
Grupo Multimedios started with a strong presence in its home base of Monterrey and has been able to deploy its coverage throughout the Mexican market. It has expanded into several businesses beyond media and holds ownership in multiple sports teams, including the Sultanes de Monterrey, one of the most prestigious teams in the Mexican Baseball League, as well as two professional basketball teams. The company’s real estate, retail, and food interests include hundreds of properties, stores, and restaurants across the country.
Richard Schwartz, Chief Executive Officer of RSI, said, “We are excited to partner with Grupo Multimedios, one of the most respected media enterprises in Mexico, which we believe will serve as a great accelerant for building our online gaming operations in the country. Mexico represents an attractive market opportunity, with a population of more than 130 million, which, when combined with Colombia’s population of 50 million, will expand RSI’s offering in Latin America significantly. We were deeply impressed by Grupo Multimedios’ management team and long track record of success, including the growth of its digital businesses in Mexico, which will be extremely valuable as we launch and grow our business in Mexico.”
Angel Cong, Co-CEO of Multimedios, said, “It is very exciting to start this partnership with RSI, their experience and amazing team will help our group achieve a new partnered vision of continuous growth and entrepreneurship. RSI has been successful in the American and Colombian online casino and sportsbook markets; we have no doubt that together we will achieve the same in Mexico. With this partnership, both RSI and Multimedios will take advantage of our media assets to be a strong and successful competitor.”
RSI was the first U.S. gaming company to launch a regulated online sportsbook in Latin America when it launched RushBet.co in 2018. In the most recent quarter with published data from Colombia’s gaming regulatory body, RushBet.co accounted for nearly 20% of online casino and sports betting handle in the country. Moreover, the platform was recognized as Sportsbook Operator of the Year at the SBC Latinoamérica Awards 2021. RSI is the fourth largest operator of online casino and sports betting combined in the United States as of December 2021, per Eilers & Krejcik, with real-money mobile, online and/or retail operations in thirteen U.S. states.
“As the first U.S. gaming company to launch a regulated online gaming sportsbook in Latin America, we have a deep understanding and appreciation for the communities where we operate and the localization that is needed to thrive in the Latin American market. We look forward to leveraging the infrastructure, operations team, and relationships developed during our five years of business in Latin America as we expand our best-in-class online gaming platform to a growing Mexico market. We are thrilled to build on our existing success in Latin America and will continue to expand our presence in the region and globally,” said Mr. Schwartz.