Swinomish Casino & Lodge launches in-person sports betting with Rush Street Interactive, offering diverse betting options for customers.
Quiver AI Summary
The Swinomish Indian Tribal Community and Rush Street Interactive (RSI) announced the launch of an in-person sports betting operation at the BetRivers Sportsbook located in Swinomish Casino & Lodge, Washington. This new retail sportsbook will offer a variety of betting options on both U.S. and international sporting events. This partnership is significant for both entities as it combines RSI's expertise in the sports betting industry with the Tribe's control over its operations. The collaboration aims to enhance the overall guest experience and drive economic development in the region, with RSI providing tools, training, and ongoing support. Both parties emphasize their commitment to integrity and delivering exceptional services while creating a vibrant sports betting environment.
Potential Positives
- RSI expands its footprint in the rapidly growing sports betting market by launching a retail sportsbook at the Swinomish Casino & Lodge, highlighting its increasing influence in the gaming industry.
- The partnership with the Swinomish Indian Tribal Community enhances RSI's reputation as a trusted service provider, further establishing its brand through collaboration with established gaming operations.
- The new sportsbook is expected to attract new player demographics, potentially leading to increased revenues and enhanced cross-promotion with the tribe's existing gaming and hospitality offerings.
- RSI's operational support model allows the Swinomish Tribe to maintain control while benefiting from RSI’s extensive industry expertise, creating a mutually beneficial relationship that fosters regional economic development.
Potential Negatives
- The press release does not provide financial details or projected earnings from the partnership, which could raise concerns about the expected economic impact and profitability of the new sportsbook.
- The emphasis on RSI acting as a service provider and not assuming operational control might suggest a lack of commitment to the long-term success of the sportsbooks in the venue.
- There is no mention of any competitive analysis or differentiation strategies, which could indicate a lack of preparedness against potential competition in the growing sports betting market in Washington.
FAQ
What is the new offering at Swinomish Casino & Lodge?
The Swinomish Casino & Lodge has launched an in-person sports betting option at the BetRivers Sportsbook.
Which company is partnering with the Swinomish Tribe?
Rush Street Interactive, Inc. (RSI) is the partnering company bringing sports betting to the Swinomish Casino & Lodge.
What types of bets can customers place?
Customers can place various bets, including parlays, prop bets, and in-game bets on many sporting events.
How does this partnership benefit the Swinomish Tribe?
The partnership allows the Swinomish Tribe to maintain operational control while leveraging RSI's industry expertise and resources.
What is the background of Rush Street Interactive?
Rush Street Interactive is a leading online gaming and sports entertainment company operating in the U.S., Canada, and Latin America.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$RSI Insider Trading Activity
$RSI insiders have traded $RSI stock on the open market 32 times in the past 6 months. Of those trades, 0 have been purchases and 32 have been sales.
Here’s a breakdown of recent trading of $RSI stock by insiders over the last 6 months:
- RICHARD TODD SCHWARTZ (Chief Executive Officer) has made 0 purchases and 11 sales selling 781,715 shares for an estimated $9,556,311.
- KYLE SAUERS (Chief Financial Officer) has made 0 purchases and 4 sales selling 307,558 shares for an estimated $3,649,737.
- JUDITH GOLD has made 0 purchases and 3 sales selling 290,000 shares for an estimated $3,326,340.
- EINAR ROOSILEHT (Chief Information Officer) has made 0 purchases and 3 sales selling 220,000 shares for an estimated $2,344,952.
- MATTIAS STETZ (Chief Operating Officer) has made 0 purchases and 7 sales selling 90,000 shares for an estimated $1,220,844.
- PAUL WIERBICKI (Chief Legal Officer) has made 0 purchases and 4 sales selling 70,437 shares for an estimated $805,342.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$RSI Hedge Fund Activity
We have seen 118 institutional investors add shares of $RSI stock to their portfolio, and 67 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HG VORA CAPITAL MANAGEMENT, LLC removed 7,000,000 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $75,950,000
- CANYON CAPITAL ADVISORS LLC removed 2,087,503 shares (-67.6%) from their portfolio in Q3 2024, for an estimated $22,649,407
- GOLDMAN SACHS GROUP INC removed 1,656,830 shares (-76.6%) from their portfolio in Q3 2024, for an estimated $17,976,605
- FMR LLC removed 1,579,448 shares (-97.3%) from their portfolio in Q3 2024, for an estimated $17,137,010
- DIVISADERO STREET CAPITAL MANAGEMENT, LP added 1,316,014 shares (+34.6%) to their portfolio in Q3 2024, for an estimated $14,278,751
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,015,963 shares (+161.7%) to their portfolio in Q3 2024, for an estimated $11,023,198
- INTRINSIC EDGE CAPITAL MANAGEMENT LLC added 939,756 shares (+84.6%) to their portfolio in Q3 2024, for an estimated $10,196,352
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ANACORTES, Wash. and CHICAGO, Jan. 27, 2025 (GLOBE NEWSWIRE) -- The Swinomish Indian Tribal Community and Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading online casino and sports betting company which operates the BetRivers brand, today announced the launch of in-person sports betting at the BetRivers Sportsbook at the Swinomish Casino & Lodge in Washington. Customers will be able to place a wide array of bets at the new retail sportsbook on a variety of U.S. and worldwide sporting events, including parlays, prop bets and in-game bets.
The launch of this innovative sportsbook marks a major milestone for both the Swinomish Indian Tribal Community and Rush Street Interactive, paving the way for a state-of-the-art sports betting experience and expanded opportunities in the Washington gaming market.
“As we sought a partner for this exciting new venture, Rush Street Interactive’s proven success in operating market-leading retail sportsbooks across the U.S. made them an obvious choice,” said Stephany Tuttle, Director of Gaming of the Swinomish Casino & Lodge. “RSI’s unmatched operational expertise working with land-based casinos and comprehensive approach stood out, offering us a tried-and-true road map for success. Their guidance eliminates unnecessary expenses and ensures a seamless launch process. Combined with their exceptional marketing and customer service support, RSI provides everything we need to maximize the sportsbook’s potential while enhancing all other aspects of our gaming and non-gaming amenities. We are confident this partnership will elevate our offerings and create a dynamic new experience for our guests.”
RSI is thrilled about its partnership with the Swinomish Indian Tribal Community to serve as the service provider for their in-casino retail sportsbook.
“We are incredibly honored to partner with the Swinomish Indian Tribal Community to bring this exciting new sportsbook to life,” said Richard Schwartz, CEO of Rush Street Interactive. “RSI shares the Swinomish Tribe’s commitment to integrity, innovation, and delivering exceptional guest experiences. Our expertise in training and supporting land-based casino teams ensures that this new sportsbook will not only attract new player demographics but also optimize cross-promotion with the tribe’s existing gaming and hospitality amenities. This collaboration will create a thriving sports betting experience that benefits the entire operation.”
The partnership between RSI and the Swinomish Indian Tribal Community is built on mutual trust and respect, with RSI acting as a supportive supplier rather than assuming operational control. This model allows the Swinomish Tribe to retain full control over its operations while benefiting from RSI’s extensive industry experience and resources.
“Our goal is to empower our partners to thrive,” added Schwartz. “We don’t just provide technology—we provide the tools, training, and ongoing support needed to ensure the success of in-casino sportsbooks while driving incremental benefits to the broader operation, from increased visitation to growth in table games, slots, food and beverage, and beyond. We’re proud to partner with the Swinomish Indian Tribal Community to achieve their vision and drive further economic development for the region.”
About Rush Street Interactive
RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in fifteen U.S. states: New Jersey, Pennsylvania, Indiana, Colorado, Illinois, Iowa, Michigan, Virginia, West Virginia, Arizona, New York, Louisiana, Maryland, Ohio and Delaware, as well as in the regulated international markets of Colombia, Ontario (Canada), Mexico and Peru. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 by gaming industry veterans, RSI was named the EGR North America Awards Customer Services Operator of the Year five years in a row (2020-2024), the 2022 EGR North America Awards Operator of the Year and Social Gaming Operator of the Year, and the SBC Latinoamérica Awards 2024 Casino Operator of the Year and 2021 Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit www.rushstreetinteractive.com .
About Swinomish Indian Tribal Community
The Swinomish Tribal Community is made up of Coast Salish peoples originating from the Skagit and Samish River valleys. For nearly 40 years, the tribal community has owned and operated Swinomish Casino & Lodge, along with Swinomish Golf Links, growing from a small bingo operation in 1985 to a modern gaming facility. Today, they are proud to be one of the leading employers in the Anacortes area. For more information, visit SwinomishCasinoandLodge.com.
Contacts:
RSI & BetRivers:
[email protected]
RSI Investors:
[email protected]
Swinomish Casino & Lodge:
[email protected]