New York-listed Rush Street Interactive has promoted Richard Schwartz to chief executive to replace fellow co-founder Greg Carlin, who becomes vice chairman.
Schwartz co-founded RSI with Carlin and chairman Neil Bluhm in 2012, and has served as the company’s president since inception.
He has now been promoted to CEO and will join the company’s board of directors, while Carlin has been named vice chairman.
“Greg and I have worked alongside Richard since the inception of RSI and I have seen firsthand his immense skill and ingenuity as an executive,” said Bluhm. “Richard’s vision has been integral in establishing RSI as a pioneer and nationwide leader in the online casino business, and there is no one better suited to continue to drive our strategic direction and growth.
“On behalf of the entire board, I would like to thank Greg for his enduring contributions to the company and I look forward to his continued partnership.”
Schwartz said of his appointment: “I am honored to lead RSI at this time of tremendous growth for our company and industry, and am humbled by the trust that Greg and the board have placed in me. Greg has positioned RSI for success and our opportunities continue to expand, from new market launches to innovative product offerings and strategic marketing programs.
“As we look to the future, RSI will remain relentlessly focused on operational excellence and trying to delight our players with helpful, transparent customer service while refining our best-in-class technology platform.”
Carlin said he was “incredibly grateful” to have had the opportunity to lead RSI from its founding through its listing as a publicly traded company, and was proud of the company’s many accomplishments to date.
“Richard has been a key partner in building RSI’s award-winning proprietary technology platform and online operations,” he said. “His deep understanding of the online gaming space and passion for our business will be critical in continuing to drive value for our shareholders for years to come.
“I believe now is the right time for me to transition to vice chairman and am excited to continue working with Richard and our highly experienced management team and Board to strengthen RSI’s industry leadership position.”
Shares in Rush Street Interactive Inc (NYSE:RSI) closed 5.41 per cent higher at $14.04 per share in New York Thursday after the company announced strong Q2 results and was selected as the Connecticut Lottery Corporation’s sports betting partner.