Rush Street Interactive is eyeing Mexico’s sports-mad population of 130 million after it announced a 25-year iGaming and sports betting partnership with Mexican media giant Grupo Multimedios. [Image: Shutterstock.com]
Exclusive partnership with Multimedios
Rush Street Interactive (RSI) will gain access to a market of more than 30 million multimedia users through an online casino and sports betting expansion into Mexico.
The US-based gambling operator has formed an exclusive 25-year deal with Mexican media powerhouse Grupo Multimedios. In a news release on Monday, RSI said it expects to roll out operations in the second quarter of 2022.
the agreement gives RSI access to a vast market of potential gamblers
While RSI has not disclosed the financial terms of the deal, it has stated it will work with a subsidiary of Multimedios that is licensed to operate online gaming in the Latin American country. With a Mexican population of more than 130 million, the agreement gives RSI access to a vast market of potential gamblers.
Multimedios is a long-established traditional and digital media giant in Mexico. Through its digital sports sub-brand Mediotiempo, RSI will access a market of more than seven million unique users per month. Meanwhile, via Mexico’s top-ranking digital national news and information source Milenio, RSI will access 27.7 million users.
RSI eyes online Latin America growth
In a news release on Monday, RSI’s CEO Richard Schwartz expressed his firm’s excitement with the partnership, also talking up the strength of Multimedios’ media empire and the growth of its digital portfolio.
partnership “will serve as a great accelerant”
Schwartz said the partnership “will serve as a great accelerant for building our online gaming operations in the country.” The CEO highlighted the respective 130 million and 50 million-strong populations of Mexico and Colombia as an “attractive market opportunity” for RSI’s expansion in Latin America.
Established 89 years ago in Monterey, Multimedios has branched out across Mexico into several non-media industries, including real estate, retail, hospitality, food, and beverage. The group also owns many sports franchises, including two professional basketball teams, and the Sultanes de Monterrey, a leading outfit in the Mexican Baseball League.
Co-CEO of Multimedios, Angel Cong, said his firm had “no doubt” RSI could replicate its success in Mexico.
RSI was the first US gaming firm to roll out a legal online sportsbook in Latin America with the launch of RushBet.co in 2018, with other sportsbooks such as Bet365 later following suit. Citing published data from Colombia’s gaming regulatory body, RSI said its sportsbook raked in almost 20% of Colombia’s wagering handle in the most recent quarter.
Schwartz said RSI is looking forward to leveraging its Latin America assets as it expands its “best-in-class online gaming platform to a growing Mexico market.”
Mexico has the second-largest gambling market in Latin America, behind only Argentina.