RSI CEO Talks Missouri Sports Betting and Potential Online Casino Legislation

The CEO of one of our best sports betting sites has spoken on some of the hottest topics in the industry.

Speaking at the fourth annual Needham Consumer Tech and Ecommerce Conference, CEO of Rush Street Interactive (RSI) Richard Schwartz discussed a variety of topics, including the upcoming legalization of Missouri sports betting, Alberta sports betting and the impact sweepstakes casinos may have on the legalization of real-money online casinos.

Schwartz confirmed that RSI intends to apply for an MO sports betting license for its online sports betting brand, BetRivers. The company has recently expanded its US presence, launching online poker in PA in November. Up to 21 online sports betting licenses will be available in Missouri, with 13 licenses tied to land-based casinos, six to professional sports teams, and two stand-alone licenses. 

The CEO said, “It’s a large population and one that we think is an attractive market as well for other reasons; we were glad it passed.”

The current status of Missouri sports betting

The legalization of sports betting appeared on the November ballot in Missouri, with the measure receiving at least 50% approval by a slight margin of less than 4,000 votes. The bailout has not been certified yet, and while the opposition could request a recount, it seems unlikely the opposition will pursue this option.

With sports betting expected to be legalized, Missouri law requires the new sports betting industry to launch by December 1, 2025. The Chairman of the Missouri Gaming Commission, Jan Zimmerman, has suggested the market could go live as early as late June.

Alberta in focus for RSI

Looking North to Canada, RSI CFO Kyle Sauers commented that a potential launch in Alberta could benefit the company’s growth rate and expects the market to launch in the second half of 2025. Alberta lawmakers passed Bill 16, or the Red Tape Reduction Statutes Amendment Act, to amend the Gaming, Liquor, and Cannabis Act to allow commercial sportsbooks to launch in the province. It seems only a matter of time before residents of the western province will get access to the best sportsbooks in Canada.

The Alberta Minister of Service and Red Tape Reduction, Dale Nally, confirmed the province will launch a commercial online gaming market. Online sports betting is legal in Alberta, but only two platforms are live: PlayAlberta and Sports Select, both operated by government bodies. 

Sweepstakes casinos could encourage online casino legalization

Sweepstakes casinos have risen in popularity in the US, allowing players in states where online casino gaming is not legal to play slots and table games without requiring a monetary commitment. Players can buy currency packs to top up their account balance and exchange certain currencies for gift cards or cash.

Schwartz commented on the topic of sweepstakes casinos, suggesting that the popularity of these platforms could encourage lawmakers to approve online casino legislation, as many states are missing out on tax revenues from these sweepstakes platforms. “I think that’s a great reason to kind of jump-start even more efforts on iCasino,” he said.

While Schwartz suggested Missouri could potentially launch an online casino market in the future thanks to its land-based casino industry. However, other states may beat it to a launch, including Ohio, the only US state with active online gaming legislation. Legislators submitted SB 312 on September 4, which is under review by the Senate Finance Committee, paving the way for legalization in 2025.