Rush Street Reportedly Eyes Sale, Reaches Out to DraftKings

Rush Street Interactive, one of the gaming groups in North America, is reportedly considering a potential sale amid a strategic review of its business. Anonymous sources also told Bloomberg that the operator has contacted a number of influential companies who could be potential buyers, including DraftKings.

Rush Street, through its numerous brands, offers casino gaming in 15 states and three countries outside the US. Based in Chicago, the company operates brands such as RushBet and BetRivers. While the group ranks in sixth place when it comes to sportsbook companies, the group, in fact, controls only 2% of the online betting market in America, according to Eilers & Krejcik Gaming.

The US betting market is currently dominated by a few major companies, including FanDuel and DraftKings. The latter company’s size and influence make it a perfect potential buyer. 

Rush Street became a public company in 2020 and has a capitalization of roughly $1.4 billion. As of the time of its writing, its shares are trading for $6.39, bolstered by the report.

Rush Street and DraftKings Couldn’t Confirm the Report

Bloomberg tried to contact Rush Street Interactive, which declined to comment on the matter. In the meantime, the news outlet also reached out to DraftKings, which explained that it is currently speaking to a “variety of companies regarding various matters in the normal course of business.” Since the gambling giant’s general policy is to not reveal specifics about these discussions, the DraftKings spokesperson couldn’t comment further.

Rush Street is currently in a good position to grow after several competitors stopped doing business in the US. These included Churchill Downs and PointsBet, which sold its Golden Nugget Online Gaming brand to DraftKings.

The report about the mulled sale of Rush Street Interactive comes in the wake of the publication of company’s full-year report. The company is currently operating in a number of key jurisdictions and believes that it is in a robust strategic position.

Rush Street’s leadership lauded 2023 as a transformative year and expressed its optimism about the future. The company said that it will continue to explore growth opportunities, especially in promising jurisdictions, such as New York, Maryland, Illinois and the Canadian province of Alberta.