Rush Street Interactive and the Connecticut Lottery Corporation announced a joint plan to wind down their online and in-person sports betting partnership in Connecticut.
The CLC will begin pursuing a new operator through a request for proposals in the coming days. RSI will continue to operate online and in-person sports betting in Connecticut on behalf of the CLC until a replacement is selected. RSI and the CLC expect to transition the existing sports betting operations during the second half of 2023.
Players on the PlaySugarHouse.com online platform or at any of the nine Connecticut retail locations can be confident that any wagers placed will continue to be valid and all wins will continue to be paid out.
Gregory Smith, President of the CLC, commented: “We thank RSI for working closely with CLC to establish the foundation for CLC’s sports betting operation, both online and in retail.”
Richard Schwartz, CEO of RSI, said: “We thank the CLC for their partnership over the last two years. We are proud of what we have accomplished together in Connecticut and have enjoyed the relationships that we have built with the players. Consistent with our long-term strategic goals, after much deliberation and discussions with the CLC, we believe it is in the best interest of RSI and our stockholders to wind down this partnership.”
“As is consistent with nearly everything we do at RSI, both RSI and the CLC remain committed to putting our players first. Through the transition, we plan to continue to support all player wagers and ensure a positive player experience and expect the changeover will have an immaterial impact on our guidance for 2023.”
Connecticut is one of more than 30 states in the country with legal sports betting. Rush Street Interactive offers sports betting in many of those jurisdictions.
RSI stock was down 3.5% on Tuesday to about $3 a share.