- Rush Street Interactive is setting up to go public by merging with dMY Technology.
- RSI would join DraftKings in a shortlist of sports betting companies that have gone public.
NEW YORK – Deals are being made by Rush Street Interactive with the goal of going public in the near future.
Rush Street Interactive is the parent company of BetRivers, which offers legal sports betting in several U.S. states. At the moment, Rush Street Interactive is working on a merger with dMY Technology. Once the merger is complete, Rush Street Interactive is set to go public.
Once they do go public, they will be traded with the RSI tag.
The Growth Of Rush Street Interactive
Rush Street Interactive has become one of the fastest-growing sports betting companies in the United States. RSI has a presence in multiple states, including states like Colorado, New Jersey, and Pennsylvania. On top of the states they are already in, RSI will soon enter states such as New York and Iowa, thus expanding their operations.
In an investor presentation, it was shown that RSI and BetRivers could capture up to seven percent of the U.S. gambling market. Doing so will lead to about $2.3 billion in annual revenue.
That much of an increase in sports betting revenue shows how strong the BetRivers and RSI brand has become. This is despite the ongoing coronavirus pandemic shutting down many forms of gambling. Although sports betting revenue is a bit lower, casino revenue has actually increased for RSI.
On top of that, RSI expects the company to keep on growing for the next few years. This is because of their plans to expand to launch in several states across the country. On top of that, a new mobile sportsbook is currently in development and will likely launch by the end of 2020.
Due to the growth and the commitment to the U.S. betting market, RSI is planning to go public. Doing so will allow RSI to further cement their presence in the United States and make them more well known.
On top of that, RSI going public shows to potential bettors that sports betting is here to stay in the United States. With companies like DraftKings and Rush Street Interactive going public, it shows that the country is moving forward and accepting legal sports betting. That will likely bring in more bettors and more trust in the industry.
Daniel is a writer that enjoys writing to inform readers. When Daniel was writing for The Borgen Project, he liked informing the world about victories in global poverty issues. Daniel is also an avid horse racing fan who has been going to the track with his father for over a decade betting the ponies. When he is not writing about sports betting or at the track, Daniel loves playing video games and watching sports in his spare time.