{"id":325161,"date":"2024-07-14T04:24:08","date_gmt":"2024-07-14T09:24:08","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=325161"},"modified":"2024-07-14T02:50:28","modified_gmt":"2024-07-14T07:50:28","slug":"rush-street-interactive-sale-could-be-imminent-says-report","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/","title":{"rendered":"Rush Street Interactive Sale Could Be Imminent, According to Report"},"content":{"rendered":"

The long rumored sale of Rush Street Interactive (NYSE: RSI) could materialize in two months or less, according to a recent report.<\/p>\n

\"Rush
A Rush Street Interactive advertisement. The company could be acquired in the weeks ahead, according to a report. (Image: X)<\/figcaption><\/figure>\n

Citing unidentified sources, the Off Shore Gaming Association (OSGA) noted that a deal for the BetRivers owner could be reached as soon as September, but specific suitors were not mentioned. Media reports surfaced in March<\/a> that the Illinois-based gaming company reached out to multiple rivals about a possible acquisition. DraftKings (NASDAQ: DKNG) was the only member of that group identified by name.<\/p>\n

While the US sports betting space is now a de facto duopoly<\/a> controlled by FanDuel and DraftKings, Rush Street Interactive could be one of the more compelling takeover targets in the space for suitors looking to bolster market share. In the first quarter, not only was the sporsbook operator positive on the basis of earnings before interest, taxes, depreciation, and amortization (EBITDA), but its revenue surged 34% while its net loss plunged to $2.2 million from $24.5 million a year earlier.<\/p>\n

Why Rush Street Interactive Could Be Target<\/h2>\n

The list of possible prospective buyers, excluding or including DraftKings, could be extensive because the rumored target offers an attractive foothold in the iGaming industry.<\/p>\n

\n

Additionally, RSI represents an efficient avenue for buyers looking to access the fast-growing Latin American wagering market. RSI has found success in Colombia and Mexico and that could position to win a sports betting license in Brazil — the region\u2019s largest economy and biggest country by population. In the first quarter, the operator\u2019s monthly active users (MAUs) jumped 72% in Latin America while average revenue per MAU increased 4%.<\/p>\n<\/div>\n

However, some analysts have expressed doubt that RSI is a takeover target although in May 2023 CEO Richard Schwartz<\/a> told analysts and investors he\u2019d be open to having mergers and acquisitions discussions.<\/p>\n

It is clear that the price tag has likely increased. Shares of RSI are up 98% year-to-date and the company\u2019s market capitalization was $2 billion as of the close of US markets on July 12, indicating a buyer would likely have to offer more than that to get RSI to the bargaining table<\/strong>.<\/p>\n

Assessing Potential RSI Suitors Beyond DraftKings<\/h2>\n

DraftKings making a run at RSI would be sensible because the former has proven acquisitive and has its eyes set on iGaming expansion. However, DraftKings hasn\u2019t confirmed it\u2019s interested in RSI and some analysts believe DraftKings will eschew acquisitions<\/a> over the near-term.<\/p>\n

The OSGA report mentioned \u201csmaller companies who would love to increase their presence\u201d as potential buyers of RSI, but no operators were mentioned by name. The report also suggested that European betting behemoth bet365 could be interested, but that company has not confirmed any discussions with Rush Street Interactive.<\/strong><\/p>\n

HG Vora \u2013 a hedge fund with a reputation for pushing for change<\/a> at gaming companies \u2013 is RSI\u2019s largest investor, controlling 8.79% of the shares. Institutional investors own 28.81% of the shares while insiders control 8.08%, according to GuruFocus data.<\/p>\n

RSI operates under the BetRivers and PlaySugarHouse brands, and is currently available with mobile or retail businesses in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and West Virginia. The firm also offers sports wagering in Ontario, Canada.<\/p>\n","protected":false},"excerpt":{"rendered":"

The long rumored sale of Rush Street Interactive (NYSE: RSI) could materialize in two months or less, according to a recent report. Citing unidentified sources, the Off Shore Gaming Association (OSGA) noted that a deal for the BetRivers owner could be reached as soon as September, but specific suitors were not mentioned. Media reports surfaced […]<\/p>\n","protected":false},"author":46,"featured_media":222477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,32093,1,1074],"tags":[81903,81871,81966,81967,80968],"acf":[],"yoast_head":"\nRush Street Interactive Sale Could Be Imminent, Says Report<\/title>\n<meta name=\"description\" content=\"Rush Street Interactive Sale Could Be Imminent, According to Report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rush Street Interactive Sale Could Be Imminent, Says Report\" \/>\n<meta property=\"og:description\" content=\"Rush Street Interactive Sale Could Be Imminent, According to Report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-14T09:24:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-14T07:50:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1602\" \/>\n\t<meta property=\"og:image:height\" content=\"1062\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/\",\"url\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/\",\"name\":\"Rush Street Interactive Sale Could Be Imminent, Says Report\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"datePublished\":\"2024-07-14T09:24:08+00:00\",\"dateModified\":\"2024-07-14T07:50:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Rush Street Interactive Sale Could Be Imminent, According to Report.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-sale-could-be-imminent-says-report\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"width\":1602,\"height\":1062,\"caption\":\"A Rush Street Interactive advertisement. 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