Rush Street Interactive (RSI) president and CFO Kyle Sauers has said the operator is “very excited” about the new administration in Colombia and what it could mean for “stability around the tax structure” in the country.
Speaking during a ‘fireside chat’ at an event organised by financial institution Oppenheimer, Sauers said the arrival of a new “pro-business” leader should provide “a lot more certainty for us and investors”.
Outspoken conservative Abelardo de la Espriella was sworn into office on 7 August, replacing Gustavo Petro, a left-wing politician and economist who oversaw a doubling of the budget deficit in the South American country.
Licensed gambling operators in Colombia are waiting to see if the new president will deliver on his tax reform pledges and remove a temporary tax imposed on the sector by the previous administration.
“It’s a president we were hoping would win the election,” Sauers said. “He’s very pro-business – less government, low taxes is the platform that he ran on.
“We are very excited about that and what it could mean for the stability of the taxation in our industry.” RSI operates RushBet in Colombia, where it is thought to hold a podium position.
Faced with a funding crisis in the healthcare system, Petro’s government bypassed Congress to implement a 19% VAT on gambling deposits in early 2025 as part of an emergency decree.
In January, Colombia’s Constitutional Court suspended the decree, ruling that the fiscal black hole shouldn’t be plugged through emergency taxes.
However, in March of 2026, the government went ahead and introduced a temporary 16% tax – this time on revenue – set to run until the end of the year.
This is on top of the approximate 17% standard rate of tax online bookmakers and casinos pay on their gross gaming revenue. Gambling winnings are also subject to a 20% withholding tax.
It means the effective tax rate in Colombia is currently above 30%, Sauers confirmed in response to a question from Oppenheimer’s Jed Kelly.
Sauers continued: “The Constitutional Court is, as we understand it, reviewing that emergency decree and the associated taxes with it, and could come out in the coming weeks with a resolution on that – whether it sticks or whether it goes away.
“We will see how it plays out [but] the president may look at some of the emergency decrees from the previous administration and think about whether he wants to do something about those.
“Whether ours [gambling] is included in that, we do not know yet. In any event, this goes away at the end of the year.”
The CFO revealed that RSI enjoyed a $7m bump for more than two months of Q1 2026, a window when neither of the temporary taxes were applied to the industry. That equates to $35m on an annualised basis, Sauers added.
“Presuming we continue to grow, that amount could be bigger than that as we get into next year – [it’s a] big opportunity.
“It would be great to have some stability around the tax structure in Colombia. I think that provides a lot more certainty for us and investors.”
He also revealed that while the South American country is more a “sports-focused market for us”, online casino has grown faster than sports over the past several quarters.
Sauers also highlighted that RSI is the “number two operator” in Colombia with more than 25% market share. Colombia contains 15 online companies including the likes of BetPlay, Betano, Codere and Betsson.
According to H2 Gambling Capital, the online market, including lottery, generated GGR of €712m in 2025.
In July, EGR partner 4H Agency took a deep dive into Colombia and the key regulatory requirements.
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CFO Kyle Sauers reveals at an Oppenheimer event that the firm generated an additional $35m in annualised revenue when the country’s emergency taxes were removed in Q1
The post RSI buoyed by what Colombia’s new president could mean for “stability of taxation” first appeared on EGR Intel.