RSI Optimistic About Tax Stability Under Colombia's New President

Rush Street Interactive (RSI), a major player in the Colombian online gambling market, expressed optimism about the fiscal environment under Colombia's new president, Abelardo de la Espriella. According to Kyle Sauers, RSI's President and CFO, the administration could enhance tax stability, crucial for RSI and its investors.

New Presidency and Market Implications

On 7 August, the conservative Abelardo de la Espriella assumed office, succeeding Gustavo Petro. De la Espriella's pro-business stance contrasts with Petro's policies, which had increased the budget deficit. Sauers noted that the new leader's approach could offer "a lot more certainty" within the market. His platform emphasizing lower taxes is aligned with RSI's interests, potentially impacting the company's operations positively.

Colombian Tax Landscape and RSI’s Response

In response to a financial crisis, Petro's administration had introduced a 19% VAT on gambling deposits in early 2025. However, the Constitutional Court suspended this decree in January, and by March, a temporary 16% tax on revenue was imposed, lasting until the year's end. Sauers highlighted that these measures, along with a standard 17% tax on gross gaming revenue and a 20% withholding tax on winnings, push the effective tax rate above 30%.

RSI is closely monitoring whether the Constitutional Court's upcoming decision will maintain or remove these taxes. "The president may review previous emergency decrees, and while we do not know if gambling is included, the current measures are temporary," Sauers said.

Financial Impact and Market Position

RSI experienced a $7 million uplift during a tax-free period in early Q1 2026, equivalent to a potential $35 million annually. This emphasizes the importance of a stable tax environment for continued growth. While Colombia serves mainly as a sports betting market for RSI, online casino growth has surpassed sports in recent quarters. RSI holds more than a 25% market share, making it the second-largest operator in the country.

Broader Market Context

Colombia's online market, boasting 15 online operators like BetPlay and Codere, generated €712 million GGR in 2025 per H2 Gambling Capital. As regulatory changes loom, understanding these dynamics is key for market players. Interested parties can explore more about these market dynamics through EGR’s editorial coverage.

In summary, RSI is hopeful that Colombia's new government will bring the desired tax reforms, a change that promises to benefit both operators in Colombia and foreign investors alike.