Rush street gaming stock11/29/2023 ![]() The combined population of those potential customers totaled more than 68 million. Specifically, Rush Street Interactive has entered into a strategic partnership agreement with casino operator Penn National Gaming (NASDAQ: PENN).Īccording to the agreement, Rush Street Interactive will be able “to offer its award-winning real-money online casino and sports betting platform for up to 20 years in Ohio, Maryland and Missouri through potential second skins in each of those states,” subject to regulatory approvals, state law and license availability.Įven prior to the Penn National Gaming partnership, Rush Street Interactive already operated online gaming sites available for customers to play in eight U.S. The shareholders should be glad to learn that Rush Street Interactive plans to collaborate with another gaming company. It should provide the stakeholders with confidence that the company’s business will be sustainable for the long term. ![]() I would contend that the focus on highly regulated markets is a smart strategy for Rush Street Interactive. Rush Street Interactive also made history as it was the first U.S.-based gaming company to establish a regulated online gaming sportsbook in Latin America. Therefore, the company always pays gaming taxes to the local governments in each of the markets where it operates. The company proudly declares that it only works in legal and regulated markets, so there’s no gray market risk with Rush Street Interactive. gaming market – but only where it’s 100% legal.įor example, Rush Street Interactive established social gaming sites for the Rivers Casino in Schenectady, New York the Rivers Casino Pittsburgh in Pennsylvania and the Rivers Casino Des Plaines in Illinois. Since that time, the company has been expanding its footprint in the U.S. Rush Street Interactive launched its first social gaming site, known as SugarHouse Casino4Fun, back in July of 2015. If you feel that the company is on the right track, then you now have an opportunity to own the shares at a decent price, which isn’t a bad thing at all. ![]() Whether that’s good news or bad news depends on your view of the company and its growth prospects. As of today, shares are trading around $19.35. However, in mid-November a fast rally commenced, with the stock touching $24 in December and $25 in January of 2021.Īfter topping out, RSI stock began to decline sharply. There was a push to $14 in September of last year, but then a retracement to $11 in November. Interestingly, the onset of the Covid-19 pandemic didn’t cause the share price to move up quickly. A Closer Look at RSI StockĪ year ago, RSI stock was trading slightly below the $10 level. First, though, we should examine the stock’s pullback, and measure it against the longer-term price action. We’ll definitely get into the details of that strategic partnership. This is particularly true in light of Rush Street Interactive’s value-added collaboration with a well-known casino operator. Or, it could be viewed as an opportunity to own the shares at a more favorable price point. That could be a cause of concern for prospective investors. On the other hand, the price of the stock has dropped slightly in recent weeks.
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