Online casino and sports betting company Rush Street Interactive, Inc., on Wednesday said it has made a minority investment in Boom Entertainment.
Founded in 2015 and based in New York, Boom is a game developer and technology provider, helping to augment the online gaming offerings of such partners as NBC Sports, MSG Network, and Golf.
Boom said it develops rapidly scalable products and content across the online casino and free-to-play categories, including its flagship product, NBC Sports Predictor. Officials said its proprietary platforms help Boom’s partners create valuable user databases and conversion funnels for real-money gaming.
Through Boom’s relationship with certain land-based casinos in Louisiana, Mississippi and New Mexico, RSI will receive market access opportunities to operate online casino and sports betting in those new states, subject to license availability, state law and regulatory approvals.
RSI said it expects to launch mobile sports betting operations in Louisiana during the upcoming football season following the legalization of sports betting in the state in June 2021.
In addition to the investment, RSI and Boom noted they have entered into a comprehensive commercial agreement. As part of that agreement, terms of which were not disclosed, Boom will integrate its remote gaming server and license online casino and sports betting games for RSI to make available to its real money and social casino players via RSI’s proprietary online gaming platform.
The two parties said Boom also will develop certain custom games for which RSI will have exclusivity rights on for at least one year, ensuring RSI will be able to offer its players unique and differentiated games to play.
“Boom shares our focus on technological excellence and innovation, and the team has a proven ability to design games that retain players through simple, yet creative, game mechanics,” Richard Schwartz (pictured), president of RSI, said in a statement. “By bringing this content to BetRivers.com and PlaySugarHouse.com, our investment and partnership with Boom are consistent with RSI’s strategy to offer customers the best user experience and widest range of games available in the industry. Moreover, we are very pleased to add Louisiana, Mississippi, and New Mexico to the growing list of states in which RSI has obtained market access relationships as we continue to expand across the country and position RSI to reach gaming enthusiasts wherever they may be.”
Boom is led by seasoned gaming and technology executives Stephen A. Murphy, co-founder and CEO, and Med Nadooshan, president and CTO. The team has more than a decade of experience creating casino games for the gambling industry.
Murphy said the company is excited to partner with RSI, “an industry leader who understands and appreciates the importance of high-quality game design. We have long discussed collaborating with RSI on innovative games and products, and we are excited to bring many of these opportunities to life in the coming months and years.”
RSI’s Schwartz added, “Having worked with the Boom management team during their time in leadership roles at High 5 Games, we are deeply familiar with the quality and reliability of the products they have built and have always admired the vision, experience, and passion they bring to our industry. We look forward to participating in Boom’s continuing growth together with the rapid growth of online gaming.”
