Lauren Seiler, Associate Vice President of Investor Relations and Development at Rush Street Interactive, believes more US states will open up to gambling in 2022 due to the revenue stream it can provide.
Speaking on the latest SBC Leaders Podcast with SBC’s Global Relationships Director, Kelly Kehn, Seiler gave her predictions for 2022 for the gambling industry as a whole, where she asserted that more states will launch regulated online sports betting and casino wagering markets.
She stated: “You can’t deny the notable revenue stream that comes from online gaming and online sports betting and the states need the money in their coffers right now.
“You’ve got federal COVID support starting to roll off to the states, so I think that will be a big thing as more and more states start to reevaluate their budgets and their needs and reconsider legalizing online sports betting and importantly icasino as I do think a good amount of the tax revenue does come from that side of the business in the states where it is legal.”
Seiler continued: “From an operational perspective, I kinda hope and think that we’re going to start to see a rationalization in the promotional environment. From an investment perspective, they’re taking a heavier focus on profitability, sustainability, operational prowess versus straight revenue generation.
“Now that mentality has shifted from a Wall Street perspective, I do think that we’re probably going to see that trickle down into the day-to-day operations of different operators, pulling back a little bit on some of that very exuberant marketing and promotional spend that we have seen out there.
“I think we’re also going to see a continued emphasis on strong technology and a continued shrinking of the competitive set out there. There are a lot of players and I think we’ll continue to see that rationalize.”
As for Rush Street, Seiler mentioned that her firm will continue to look for different markets to expand into as more jurisdictions regulate in the US and around the world.
Seiler also told Kehn about her career history, from a passion for firefighting to landing on Wall Street, and how exactly she got into gaming. The two also chat about Seiler’s strong mentors and role models, including befriending New York Yankees legend Yogi Berra.
To watch the full interview, click HERE
