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Rush Street Interactive is watching prediction markets, but BetRivers parent company wants the main conversation elsewhere. CEO Richard Schwartz said rival focus on sports event contracts gives Rush Street more room to build online casino.
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Alberta comes next. Rush Street expects to join more than 30 operators when sports betting and iGaming begin there on July 13. The company lifted guidance by $115 million in revenue and $20 million at the midpoint, while also expecting a $10 million cost hit tied to launch and marketing.
Kyle Sauers, president of Rush Street, said lessons from Ontario should help, even with a crowded first day. He said:
“We’re going to remain flexible, and if there are opportunities to invest more, because things are going well in Alberta, we will certainly do tha. We’ve got a lot of learnings from Ontario, so we think we’re in a much better position going into this launch versus Ontario, but it’ll be competitive, right? There are a lot of players that will launch on day one.
“We’re very excited about Alberta.”
Rush Street sees a political opening in the US. Prediction markets from Kalshi and Polymarket, plus products from FanDuel, DraftKings and Fanatics, have added more uncertainty around future sports betting revenue. Schwartz said that can help operators make the case for regulated online casino.
“As others are distracted and focusing on that (sports betting) part of their business and having to spend huge amounts of money and executive attention on that, we’re focusing on executing and innovating further in the casino-first space,” Schwartz said. “And frankly, it’s given us a great chance to legalize online casino in some jurisdictions that are at risk of losing, in their perception, some of the revenues from sports betting and having less certainty on the future of that revenue stream.”
Virginia nearly passed iGaming in 2026 after both legislative chambers approved bills, but the House and Senate did not agree on one proposal. It now looks to be pushed to 2027. Sauers still called Virginia a “meaningful market” and compared its potential with Michigan, where Rush Street is “approaching a $300 million GGR run rate.”
Maine already legalized online casino in 2026, though a lawsuit has slowed the process. Rush Street plans to stay “actively involved” there once the legal issue ends.
New York and Illinois also remain major targets. Schwartz said federal changes tied to Medicaid could leave states looking for new tax sources, and online casino offers a proven path. Schwartz said:
“States like New York and Illinois are going to have even greater surpluses in this area, and they all recognize the value of online casinos being a meaningful, proven, reliable method to raise taxes at a large volume, a large dollar amount. You look at Michigan, they’ve generated a couple of billion dollars in revenue the last five years as a meaningful move the needle number for all these states.”
Rush Street still has a prediction market plan on the shelf. Schwartz said the company keeps monitoring the federally regulated space and will act only when the fit looks right:
“For now, Rush Street is staying on the sidelines when it comes to prediction market business, but we certainly are never going to be caught flat-footed. We’re always monitoring and have strategies in place. Should there be an opportunity that makes sense for us.”
Retention remains central to the casino plan. Schwartz said players stay when operators treat them well, offer fun and different experiences, and show care in the product.