Posted on: December 24, 2021, 12:43h.
Last updated on: December 24, 2021, 03:45h.
Rush Street Interactive (NYSE:RSI) continues expanding its retail sportsbook footprint. The company announced this week that it’s partnering with Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) to bring a sportsbook to the Hall of Fame Village near the Pro Football Hall of Fame in Canton, Ohio.
Financial terms of the 10-year agreement weren’t disclosed. Earlier this week, Ohio Gov. Mike DeWine (R) signed House Bill 29, making the state the 33rd to pass sports wagering legislation. The bill sets the stage for casinos, racinos, and professional sports stadiums to pursue retail and mobile betting permits.
However, it will be some time before the first legal bet is placed in Ohio. It’s estimated legal wagering will go live in the state in the second half of 2022 in advance of a Jan. 1, 2023 deadline.
The Hall of Fame Village is one of the largest and most exciting ongoing construction projects in Ohio and today connects the Pro Football Hall of Fame, Tom Benson Hall of Fame Stadium — which hosts the first NFL preseason game annually — and the Hall of Fame Village Sports Complex,” according to a statement issued by RSI and Hall of Fame Resort.
As part of the entertainment company’s expansion efforts, a fan engagement zone is being planned for the complex. That’s the expected destination of the Rush Street retail sportsbook. Other plans include bringing a performance center, indoor water park, Hilton hotel, and mixed-use office and retail space to the Village.
Ohio Compelling Addition to RSI Portfolio
RSI is known primarily as an online operator, and it’s live in a dozen states, including several that border Ohio.
RSI operates under the BetRivers and PlaySugarHouse brands, and is currently available with either mobile or retail businesses in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and West Virginia.
Following a minority investment in mobile games developer Boom Entertainment, which was announced in August, RSI gained access to Louisiana, Mississippi, and New Mexico.
Online betting is the dominant handle and revenue generator in the states that permit it. RSI is quietly amassing dominant retail betting positions in some of the largest wagering markets in the country, including Illinois, New York, and Pennsylvania.
Separate iGaming Deal
Unrelated to the Hall of Fame Village deal, RSI said earlier this week it reached an agreement with Inspired Entertainment (NASDAQ:INSE). Inspired will supply its interactive games to RSI.
“Inspired’s Interactive content will be integrated onto the RSI game platform, and its popular games will be made available in multiple North American jurisdictions, including New Jersey, Michigan, and West Virginia,” according to a statement.
Financial terms of the accord weren’t disclosed. But RSI is gaining access to several Inspired games, including holiday-themed fare, as well as Big Spin Bonus — the company’s best-performing title in North America.