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(UPDATED) Rush Street Interactive receives Colombian online gambling license

rush-street-interactive-colombia-online-gambling-license That is all.” Schwartz cited the Colombian regulation that specifies that “the calculation of the value of the contract will be understood as the sum of the exploitation rights and the corresponding administrative costs projected by the operator.” The projection isn’t binding. The digital division of US casino operator Rush Street Gaming has been issued an online gambling license in Colombia. Last Friday, Colombian gaming regulator Coljuegos announced that a newly established local subsidiary of US-based Rush Street Interactive has been issued the country’s tenth online gambling license. The company intends to offer online sports betting and casino games in Colombia under the domain. Coljuegos said Rush Street’s new license was valid for a five-year term, for which the company has agreed to pay COP14.2b (US$5m). That’s the highest sum Coljuegos has imposed to date on an online licensee and a significant premium to the COP7.85b that Spanish operator Sportium paid for its five-year license in March. It’s also higher than the COP11.2b that Spanish operator Luckia paid for its diploma in February, which had been the priciest license to date. Coljuegos president Juan B. Pérez Hidalgo said Rush Street’s license “confirms the great interest of the private sector” in the Colombian market, which became the first South American jurisdiction to formally regulate online gambling in 2016. Hidalgo had previously stated that he hoped to have approved 20 online licensees by the time the 2018 FIFA World Cup kicks off.

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