Rush Street Interactive Launches RushBet in Peru, Continuing LatAm Expansion

Rush Street Interactive Expands LatAm Presence with Launch in Peru

Rush Street Interactive is making waves in Latin America with its latest launch in Peru!

Discover how RSI’s strategic expansion into Peru’s regulated market is set to revolutionize online gaming and sports betting.

Learn about the exciting opportunities and innovative offerings that RushBet brings to Peruvian players.

Stay updated with RSI’s growth and see how they’re shaping the future of online gaming in Latin America.

Rush Street Interactive (RSI) continues its aggressive expansion into Latin America with the launch of its RushBet brand in Peru. This strategic move comes as part of RSI’s broader plan to establish a strong foothold in newly regulated markets across the region.

Entering a Promising Market

On July 29, RSI announced its entry into Peru, a country with a population exceeding 30 million. This expansion marks RSI as the first fully licensed operator under Peru’s new regulatory framework, highlighting the company’s commitment to compliance and market leadership.

Richard Schwartz, CEO of Rush Street Interactive, expressed his excitement about the launch, stating, “This move allows us to leverage our proven operational expertise in Latin America, particularly the brand equity and operational efficiencies we’ve built in the region over the past six years. Peru’s vibrant sports culture and growing digital economy present an exciting long-term opportunity for RushBet to offer our best-in-class product to a new and enthusiastic audience.”

Building on Success in LatAm

RSI’s launch in Peru builds on its successful operations in Colombia and Mexico. In June 2018, RSI became the first US company to launch a regulated online sportsbook in South America with its entry into Colombia. By July 2022, RushBet had expanded into Mexico through a 25-year agreement with Mexican media conglomerate Grupo Multimedios.

RSI’s strategic presence in Latin America has already yielded impressive results. In the first quarter of 2024, RSI reported an 84% year-on-year increase in revenue from its LatAm operations. This substantial growth underscores the potential for continued expansion and investment in the region.

Key Component of LatAm Ambitions

Schwartz believes that the Peru expansion is a critical component of RSI’s ambitions in Latin America. “We’re excited to bring this expertise to Peru, where we see significant potential for growth in both online casino and sports betting segments,” he added.

Navigating Peru’s Regulatory Landscape

Peru’s journey to a regulated gambling market reached a significant milestone in October 2023, when the Ministry of Foreign Trade and Tourism (Mincetur) approved new gambling regulations. This approval followed the signing of Law 31557 by then-president Pedro Castillo in 2022, which faced delays due to controversies over tax rates and retail license costs.

The amended law, approved in May 2023, simplified the licensing process by replacing the retail license requirement with a single online license. The cost of this license tripled to Sol2.97m (£638,628/€744,466/$807,641) or 3% of net income, whichever is higher, along with a 12% consumption tax.

Following the enactment of Law 31557 on February 9, Mincetur received 145 operator requests for licenses within the first 30 days. In June, Betsson secured licenses to operate its Betsson and Betsafe brands in Peru, with its subsidiary Inkabet also acquiring local licenses.

A Bright Future for Online Gaming in Peru

RSI’s launch in Peru is set to enhance the local gaming landscape, offering innovative online casino and sports betting experiences. With a proven track record in Colombia and Mexico, RSI is well-positioned to succeed in Peru’s newly regulated market.

As RSI continues to expand its presence in Latin America, the company remains committed to delivering exceptional gaming experiences and maintaining the highest standards of regulatory compliance. The launch of RushBet in Peru is a testament to RSI’s dedication to growth and innovation in the dynamic iGaming industry.

Stay tuned for more updates on RSI’s journey and the exciting developments in Peru’s online gaming market.