Richard Schwartz runs Rush Street Interactive, the company behind BetRivers online casino and sportsbook. He helped start RSI in 2012 and became CEO in August 2021. In 2026, he steered the company to its fastest quarterly growth in four years.
Who Is Richard Schwartz?
Richard Schwartz has spent more than a decade at the top of Rush Street Interactive (RSI), the Chicago-based company behind the BetRivers casino and sportsbook. He co-founded RSI in 2012 alongside Neil Bluhm and Greg Carlin, then served as President for nine years before taking over as CEO.
Schwartz holds a law degree from the University of California College of the Law, San Francisco (formerly UC Hastings), plus a bachelor’s degree from UC Berkeley. That legal background still shapes how he handles regulation and licensing across RSI’s markets.
He is 51 years old and has led teams in the gaming industry for more than 15 years. He is also named as an inventor on more than 50 patents and patent applications tied to online betting systems.
Richard Schwartz’s Career at Rush Street Interactive
Before RSI, Schwartz put in ten years at WMS Gaming. He worked as an intellectual property attorney, then moved into corporate development. His last role there was Vice President of Online Gaming, where he helped launch Jackpot Party, an early UK online casino.
In 2012, Schwartz co-founded Rush Street Interactive with Neil Bluhm and Greg Carlin. The company built its own online gaming platform instead of licensing someone else’s software. That choice laid the groundwork for BetRivers and PlaySugarHouse, the brands RSI still runs today.
The board promoted Schwartz from President to CEO in August 2021, succeeding co-founder Greg Carlin, who moved to Vice Chairman.
| Year | Milestone |
| 2002-2007 | Intellectual property counsel, then director of corporate development at WMS Gaming |
| 2007-2008 | Vice President of Corporate Development at WMS Gaming |
| 2008-2012 | Vice President of Online Gaming at WMS Gaming; helped launch the Jackpot Party UK online casino |
| 2012 | Co-founded Rush Street Interactive with Neil Bluhm and Greg Carlin |
| 2012-2021 | Served as President of Rush Street Interactive |
| Aug 2021 | Became CEO of Rush Street Interactive, succeeding Greg Carlin |
| Dec 2021 | Named Leader of the Year at the SBC Awards North America |
| 2026 | Led RSI to record quarterly revenue and twice raised full-year guidance |
Record Growth: Richard Schwartz and RSI’s 2026 Momentum
Schwartz had a strong first half of 2026. Year-over-year growth hit 46% in the second quarter, pushing revenue to $393.8 million and marking RSI’s fastest quarterly pace in more than four years.
Online casino did the heavy lifting behind that growth, climbing 40% year over year and pulling in close to three-quarters of the quarter’s revenue. Profitability followed suit: net income reached $29.3 million, and Adjusted EBITDA landed at $64.6 million, a gain of roughly 61%. The online casino industry keeps expanding as more states legalize it, and Schwartz has leaned into that trend.
RSI also launched BetRivers in Alberta on July 13, 2026, beating its own Ontario debut from four years earlier on a population-adjusted basis. Buoyed by these numbers, RSI raised its full-year 2026 guidance to $1.56-$1.6 billion in revenue.
Patents and Technology: What Sets Schwartz Apart
Richard Schwartz built his reputation on a simple idea: own your technology. RSI develops its platform in-house instead of relying on third-party software providers. That approach gives the company more control over player experience and faster product updates.
He is named as an inventor on more than 50 patents and patent applications connected to online betting systems, a number few gaming executives can match. Industry coverage often credits him with a deep read on player psychology, the kind of insight that shapes how RSI designs its loyalty programs and in-app promotions.
That focus on ownership sets Schwartz apart from executives who scaled through acquisitions or licensing deals.
Richard Schwartz vs Other iGaming CEOs: How RSI’s Strategy Compares
Most people know DraftKings and FanDuel for starting in daily fantasy sports before expanding into sports betting. Schwartz took a different path, leaning on regulated online casino products and in-house technology instead.
That casino-first strategy shows up in the numbers. Online casino made up 72% of RSI’s revenue in the second quarter of 2026, while sports betting made up the rest. The table below compares RSI’s approach to a typical sportsbook-first operator.
| Feature | Rush Street Interactive (Schwartz) | Typical DFS-to-Sportsbook Operator |
| Core technology | Built in-house | Often licensed or acquired |
| 2026 revenue driver | Online casino (72% of revenue) | Sports betting usually leads |
| Market entry style | Steady, casino-first state rollout | Aggressive multi-state sports launch |
| International footprint | Colombia, Mexico, Peru, Canada | Varies widely by operator |
The Bottom Line
Richard Schwartz built Rush Street Interactive from a 2012 startup into a public company with record growth. His legal background, patent portfolio, and in-house technology strategy separate him from many peers in the gaming industry.
With BetRivers now live in 15 U.S. states plus international markets, Schwartz’s casino-first bet looks like it is paying off.
Frequently Asked Questions
Who is Richard Schwartz?
Schwartz leads Rush Street Interactive as CEO, a role he took on in August 2021 after co-founding the company in 2012 and serving nine years as President.
What company did Richard Schwartz found?
Schwartz co-founded Rush Street Interactive in 2012 along with Neil Bluhm and Greg Carlin. RSI later went public and now operates in 15 U.S. states plus several international markets.
How many patents does Richard Schwartz hold?
Schwartz is named as an inventor on more than 50 patents and patent applications related to online betting systems, reflecting his hands-on role in building RSI’s proprietary technology.
How did RSI perform under Richard Schwartz in 2026?
By midyear 2026, RSI had posted a record quarter with 46% growth and had twice raised its own full-year revenue target, most recently to a range of $1.56 billion to $1.6 billion.
What was Richard Schwartz’s career before Rush Street Interactive?
Before RSI, Schwartz worked at WMS Gaming for roughly ten years, moving through intellectual property, corporate development, and online gaming roles, including the launch of the Jackpot Party online casino.