Rush Street Interactive Mulls Potential Sale, May Have Contacted DraftKings

Shares of online gaming manipulator Benjamin Rush Street Interactive (NYSE: RSI) rallied late Th on a write up that the company is considering a cut-rate sale and has reached come out to multiple suitors, including DraftKings (NASDAQ: DKNG).

Citing unidentified sources with knowledge of the situation, Bloomberg reported earliest Thursday that Chicago-based Benjamin Rush Street Interactive has contacted several potential buyers, including challenger DraftKings. The clause didn’t name other firms with which RSI may feature had discussions.

The account sparked a late-day rally past RSI stock, which traded as high-pitched as $7 before settling at $6.39, salutary for a 4.41% increase. Shares of the online sportsbook operator are trading more or less higher at this committal to writing in post-market trading .

Backed by strong financial guidance and an enviable iGaming footprint, among other factors, the carry is higher by 42.32% year-to-date and 96% over the past times year, making it I of the best-performing gaming equities o'er those periods.

Rush Street Interactive Buyout Rumors Aren’t New

Should the Bloomberg study turn out accurate, RSI being inwards discussions to sell itself would ravel heel counter to a thesis of late floated past a sell-side analyst who noted that the troupe in all likelihood isn’t a near-term takeover target.

However, conjecture well-nigh the operator being romp isn’t new. Takeover mouth pertaining to Benjamin Rush Street Interactive dates support to at to the lowest degree 2021 with ESPN previously rumored as a potential buyer. Last year, multiple reports surfaced indicating RSI could live a buyout candidate and inwards May 2023, CEO Richard Schwartz said at the SBC Summit Second Earl of Guilford America at the Meadowlands Exposition Center inward New Jersey that he’d keep an opened mind should prospective buyers add up calling.

While takeover talk pertaining to Rush Street Interactive isn’t new, the troupe is an attractive target. It’s increasingly profitable, carries no more debt, and has exposure to the fast-growing Latin America market place via United Mexican States and Colombia, signification it could live positioned to procure a desired Brazilian gaming license.

In the US, RSI operates under the BetRivers and PlaySugarHouse brands, and is currently usable with mobile or retail businesses inward Colorado, Delaware, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and western United States Virginia. The unwavering also offers sports wagering inwards Ontario, Canada.

List of Buyers for RSI Could Be Long

Rush Street Interactive shut today with a market capitalisation of $1.32 billion, according to Seeking Alpha data, substance the manipulator could follow approachable for an extensive name of larger rivals, including DraftKings.

Should RSI go forward with a sale, the toll would likely follow easily in nimiety of its market place value, but a potentially significant insurance premium could follow justifiable to prospective buyers precondition the operator’s strength inward iGaming. That includes a new cemented monopoly inward Delaware.

While RSI is a fleck participant in terms online sports betting market place share, its internet gambling casino footprint could follow attractive to a figure of buyers that are looking to cement leaders inward that space, such as DraftKings, or those that are seeking added portion inward that arena.

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