Greg Carlin, Man Behind RSI Success, Leaves Company

Greg Carlin, Man Behind RSI Success, Leaves Company

Greg Carlin, the co-founder of the casino and hospitality company Rush Street Gaming, has resigned from his position as an executive chairman and has left the company’s board of directors.

Carlin Resigns from Rush Street Gaming

Carlin’s resignation is with an immediate effect and was filed on December 28, 2021. This move will end Carlin’s affiliation with Rush Street Gaming, which spans over the last 12 years, or since he co-founded the company in 2009.

Rush Street Gaming was founded in 2009 by Carlin, Neil Bluhm, and Richard Schwartz. For most of its existence, it was headed by Carlin, who served as a chief executive officer. In 2020, however, he stepped down from the position and handed it over to Schwartz.

Carlin’s position in the board of directors and his seat in the compensation committee of the board will remain vacant for the time being, Rush Street Gaming announced. This will continue to be so until a suitable candidate is eventually found in the future.

The Resignation is Not a Result of a Disagreement

As for Carlin’s reasons to leave Rush Street Gaming, not much was announced. However, the casino and hospitality company stated that his decision did not stem from a quarrel with the firm.

“Mr. Carlin’s decision was not the result of any disagreement with the board of the company on any matter relating to its operations, policies, or practices,” Rush Street claimed in an SEC filing.

Rush Street Gaming added that the whole company and its board members express their sincere appreciation for Carlin’s long and fruitful service and are thankful for his valuable contributions to the firm’s board of directors.

Although Carlin is leaving Rush Street Gaming, he has struck an agreement with the company that will see him refrain from selling more than four million shares of the company’s Class A common stock within the next twelve months. The stock Carlin will be allowed to sell within the next year will comprise around 12% of the total Rush Street Gaming stock that he owns.

For reference, one Class A share is worth around $16.50 as of the time of this writing.

Rush Street Gaming was recently involved in a bit of a gambling industry drama as one of its co-founders, the aforementioned Neil Bluhm fervently opposed the lifting of the sports betting ban in Chicago City. The billionaire argued that lifting the ban may cost the Rivers Casino in Des Plaines tons of money and appealed to the Chicago City council to keep the ban active.