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Evolution enters Delaware through Rush Street Interactive

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Evolution announces a partnership with Rush Street Interactive, Inc. (NYSE: RSI) to enter the Delaware market through the Delaware Lottery and its online casinos. BetRivers players gain access to Evolution's online slots, expanding Evolution's presence in the US market.
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The entry of Evolution into the Delaware market represents a strategic expansion within the U.S. online gaming sector. This move aligns with the broader trend of digitalization in gaming and the growing adoption of online casinos. With the integration of Evolution's online slots into BetRivers' platform, there is a potential for increased user engagement and revenue growth for both companies.

From a market research perspective, the partnership taps into Delaware's established gaming market, leveraging the state's regulated environment. The collaboration with the Delaware Lottery and local casinos could provide Evolution with a competitive edge, fostering brand loyalty among local players. Moreover, the diversification of gaming content could attract a wider audience, enhancing market share.

It is essential to monitor the performance indicators such as user acquisition rates, average revenue per user and customer retention rates post-implementation. These metrics will provide insights into the partnership's effectiveness and its impact on both companies' financials.

Evolution's expansion into Delaware, its sixth U.S. state, has implications for the company's revenue diversification and growth trajectory. By partnering with Rush Street Interactive and entering a new market, Evolution is likely to benefit from an expanded customer base and increased gaming turnover. This could translate into higher earnings, assuming favorable player adoption and retention.

Investors should consider the incremental revenue potential against the costs associated with market entry and ongoing operations. The partnership with an established player like Rush Street Interactive could mitigate some market entry risks through shared expertise and resources.

Furthermore, the market's reaction to this expansion could influence Evolution's stock performance. Positive investor sentiment could arise from the company's proactive growth strategy, potentially leading to an uptick in share price. However, it is important to balance this with a realistic assessment of the competitive landscape and regulatory changes that could affect future earnings.

The partnership between Evolution and Rush Street Interactive signifies a noteworthy development in the online gaming industry, particularly in the context of interstate expansion strategies. Evolution's choice to partner with the Delaware Lottery and its three online casinos demonstrates an astute approach to leveraging existing infrastructures and brand reputations to facilitate market penetration.

The inclusion of NetEnt, Red Tiger and Big Time Gaming brands in BetRivers' app could enrich the gaming experience and potentially increase platform stickiness. These brands are known for their innovative slot games, which could differentiate the BetRivers platform in a crowded market.

It's also pertinent to consider the regulatory landscape. The U.S. online gaming industry is subject to state-by-state regulation, which can impact the scalability of such partnerships. Evolution's ability to navigate these regulations and maintain compliance will be critical to the sustained success of its market expansion efforts.

STOCKHOLM, March 28, 2024 /PRNewswire/ -- Evolution today announced a new partnership with Rush Street Interactive, Inc. (NYSE: RSI) ("RSI"), to enter the Delaware market in partnership with the Delaware Lottery and its three online casinos - Delaware Park Casino & Raceway, Bally's Dover Casino Resort and Harrington Raceway & Casino.

The Delaware Park Casino & Raceway and Harrington Raceway & Casino sites are accessible through the BetRivers multi-state app while Bally's Dover Casino Resort offers its own standalone app.

Under the terms of the agreement, BetRivers players now have access to an extensive line-up of online slots from Evolution Group's NetEnt, Red Tiger, and Big Time Gaming brands, accessible through the BetRivers platform.

Delaware marks Evolution's sixth market in the US, further cementing its ability to meet the demands of the rapidly expanding US market.

Jacob Claesson, Evolution CEO for North America: "Going live in Delaware is a great milestone for Evolution. It is our sixth US state and further solidifies our place as the market leader in online gaming. We are excited to partner with Rush Street Interactive, one of the most respected online gaming companies in the US, to bring online games to BetRivers players in Delaware."

Richard Schwartz CEO for Rush Street Interactive: "We're thrilled to partner with Evolution Group as we continue to expand our slot game offerings to provide our customers unmatched entertainment experiences. Evolution has an exceptional portfolio of online slots, and we know that our players in Delaware will enjoy what Evolution has to offer now and in the future."

For trade press and media enquiries, please contact:                         

Daniel Tweedie, Head of Marketing, press@evolution.com
For investor enquiries, please contact:
Carl Linton, Hear of IRir@evolution.com, +46 70 508 85 75

This information was brought to you by Cision http://news.cision.com

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SOURCE Evolution

FAQ

What partnership did Evolution announce?

Evolution announced a partnership with Rush Street Interactive, Inc. (NYSE: RSI) to enter the Delaware market.

Which online casinos are involved in the partnership?

The partnership involves Delaware Park Casino & Raceway, Bally's Dover Casino Resort, and Harrington Raceway & Casino.

What brands' online slots can BetRivers players access?

BetRivers players can access online slots from Evolution Group's NetEnt, Red Tiger, and Big Time Gaming brands.

How many US states has Evolution entered with this partnership?

Delaware marks Evolution's sixth market in the US.

Who is the CEO for Evolution in North America?

Jacob Claesson is the CEO for Evolution in North America.

Who is the CEO for Rush Street Interactive?

Richard Schwartz is the CEO for Rush Street Interactive.

Rush Street Interactive, Inc.

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About RSI

rush street interactive, inc. operates as an online casino and sports betting company in the united states and latin america. the company was founded in 2012 and is based in chicago, illinois.