Welcome to our dedicated page for Rush Street Interactive news (Ticker: RSI), a resource for investors and traders seeking the latest updates and insights on Rush Street Interactive stock.
Rush Street Interactive, Inc. (NYSE: RSI) is a prominent player in the online gaming and sports entertainment industry, specializing in online casinos and sports betting. Founded in 2012 and headquartered in Chicago, Illinois, Rush Street Interactive has established itself as a trusted provider in both the United States and Latin American markets.
RSI offers a diverse range of gaming options, including real-money online casinos, online sports betting, and retail sports betting. Additionally, the company caters to the growing demand for social gaming, providing free-to-play games that utilize virtual credits. RSI’s revenue model is driven by both business-to-consumer (B2C) and business-to-business (B2B) operations, making their comprehensive suite of products accessible through their websites and mobile apps.
In recent developments, Rush Street Interactive has made significant strides in expanding its market presence. Notable achievements include a partnership with Evolution to enter the Delaware market, enhancing the company's game offerings with online slots from brands such as NetEnt, Red Tiger, and Big Time Gaming. This collaboration highlights RSI's commitment to meeting the expanding demands of the U.S. market.
The company has also ventured into the sports arena with a title sponsorship for the NASCAR Xfinity Series Dash 4 Cash race at Dover Motor Speedway. This marks a historical moment as it allows fans in Delaware to place mobile sports wagers during the event. The partnership underscores RSI's dedication to delivering top-tier entertainment experiences and supporting local communities.
Financially, RSI has shown resilience and adaptability. The company's latest financial reports indicate continued growth, with adjustments for non-GAAP financial measures providing a clearer picture of their operational performance. RSI’s ability to innovate and adapt has earned them multiple industry accolades, including the 2023 EGR North America Awards Customer Services Operator of the Year and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year.
Rush Street Interactive continues to drive forward, leveraging strategic partnerships and technological advancements to maintain its position as a leader in the online gaming and sports betting industry. For more information and updates, visit www.rushstreetinteractive.com.
Rush Street Interactive (NYSE: RSI) will hold its 2021 Annual Meeting of Stockholders on June 10, 2021, at 9:00 a.m. CDT. The record date is April 20, 2021. The meeting will be virtual due to COVID-19 concerns. Stockholders must submit any business proposals or nominations by April 9, 2021, at 5:00 p.m. ET. Proxy materials will be sent around April 30, 2021, and will be accessible on the SEC website and RSI's website. RSI is a leader in online gaming and sports entertainment, operating in nine U.S. states and Colombia.
Rush Street Interactive (NYSE: RSI) announced significant growth in its financial results for Q4 and the full year 2020. Revenue surged 260% to $100 million in Q4, while annual revenue increased 337% to $278.5 million. Despite this growth, the net loss widened to $48.8 million for Q4 and $138.8 million for the year. MAUs climbed 165% year-over-year, with average revenue per MAU at $341. The company anticipates revenue of $420-$460 million for 2021, up from previous guidance. RSI expanded its market presence by launching in Michigan and Virginia and securing access in Ohio, Maryland, and Missouri.
The gaming industry is rapidly evolving with esports gaining traction, especially during global lockdowns. Companies like Luckbox, Golden Nugget Gaming (GNOG), Rush Street Interactive (RSI), and Melco Resorts (MLCO) are capitalizing on this trend. Luckbox saw a 500% increase in new customers on its esports betting platform in 2020. The company allocated CAD$2 million for user acquisition around major events like the IEM Katowice tournament. Meanwhile, Golden Nugget reported a 63% revenue increase in 2020, highlighting potential for growth in online gaming.
Rush Street Interactive (NYSE: RSI) will release its fourth quarter and year-end 2020 results on March 10, 2021, after market close, followed by a conference call at 5:00 PM ET. Investors can access the earnings press release and materials on their investor relations website. This leading online casino and sports betting operator, active in nine U.S. states, had notable achievements, including being named 2020 Digital Operator of the Year. Analysts await insights into financial performance during the call.
Rush Street Interactive (NYSE: RSI) has secured market access in Ohio, Maryland, and Missouri through a partnership with Penn National Gaming, Inc. This agreement allows RSI to operate its BetRivers.com platform in these states for up to 20 years, contingent on license availability and regulatory approvals. With this expansion, RSI aims to enhance marketing efficiencies and capitalize on its success in neighboring markets. Currently, RSI operates in eight states with a combined population exceeding 68 million and is positioned to reach over 35% of the U.S. population through potential market access opportunities.
Rush Street Interactive (NYSE: RSI) announced the redemption of all outstanding Public Warrants, effective until March 24, 2021, at an exercise price of $11.50 per share. Approximately 11.5 million shares of Class A common stock can be purchased, potentially raising $132.25 million if all warrants are exercised. Any unexercised warrants post-deadline will be void. This move follows the closing price requirement outlined in the Warrant Agreement, which mandates the stock must be priced at least $18.00 for designated trading days prior to redemption notice.
Rush Street Interactive (NYSE: RSI) has partnered with Pariplay Ltd. to become the first online casino operator in the U.S. to offer a selection of Pariplay's high-quality casino games on PlaySugarHouse.com in New Jersey. This move introduces new slot titles like Amazing Riches and Dragons of the North to the U.S. market, enhancing player engagement. With over 750 existing games, this collaboration aims to boost the platform's appeal, leveraging Pariplay's established success in Europe.
Rush Street Interactive (NYSE: RSI) has launched its online sportsbook, BetRivers.com, in Virginia, allowing residents to register and place bets on various sports. This initiative follows a partnership with Rivers Casino Portsmouth, enhancing the company’s footprint in the online sports betting market for the next 20 years. The Rivers Casino project is expected to create 1,300 permanent jobs and 1,400 temporary construction jobs, contributing significantly to the local economy. RSI, a recognized leader in online gaming, aims to offer a trusted and expansive betting experience to Virginians.
Rush Street Interactive (RSI) reports a successful launch of BetRivers.com in Michigan, starting January 22, 2021. The state witnessed significant online gaming interest, with major events like the NFC Championship Game driving 39% of total bets. Despite COVID-19 interruptions in college basketball, it remained a popular betting choice. Customer feedback highlights RSI's commitment to transparent gaming, fast payouts, and a diverse game selection. Blackjack was the most favored game, while 120+ games were available at launch. RSI continues to expand its footprint in the U.S. online gaming market.
Rush Street Interactive (NYSE: RSI) announced the launch of BetRivers.com in Michigan and a multi-year partnership with the Detroit Pistons. This partnership includes a free-to-play game, Fan Pick'em, allowing Pistons fans to win prizes. With BetRivers.com live, Michigan residents over 21 can access a wide range of betting options and online casino games. RSI is recognized as a leader in online sports betting and has established itself in populous states like Illinois, Pennsylvania, and New York. The partnership will enhance fan engagement through exclusive promotions and marketing opportunities.
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