Rush Street Interactive, one of the fastest-growing online casino and sports wagering companies in the US, and dMY Technology Group have entered into a definitive agreement that will see RSI and dMY combine.
As a result of the transaction, RSI will become a publicly listed company on the New York Stock Exchange and the combined company is anticipated to have an initial enterprise value of approximately $1.78bn. Upon closing, dMY intends to change its name to Rush Street Interactive and its NYSE trading symbol to RSI. Founded in 2012 by gaming industry veterans Neil Bluhm, Greg Carlin and Richard Schwartz, RSI is a market leader in online casino and sports betting in the US.
RSI currently operates online gaming sites in Illinois and Pennsylvania, the two largest populated US states that have legalised online gaming and where a scarcity of online gaming licences also exists, as well as in New Jersey, Indiana and Colorado.
The total estimated size of the US market for online casino and online sports betting is approximately $33bn according to Eilers & Krejcik and RSI estimates.
