Earlier this year, rumors emerged about the potential sale of Rush Street Interactive (RSI), the leading betting and gaming operator with a presence across the United States and owner of the popular brand BetRivers. Although the rumors emerged in March, details are scarce with only DraftKings being named as a potential buyer of RSI.
Despite no solid confirmation from either of the companies, RSI’s stocks have been on the rise and that signals that talks about a potential sale might be ongoing. This is also the suggestion of a newly released report from the Off Shore Gaming Association (OSGA), citing unnamed sources close to the matter.
Per OSGA’s report, the sale of RSI is “imminent and will happen before the end of the summer.” The Association’s sources close to the matter claimed that the acquisition is nearly completed.
The same sources claimed that RSI and its potential buyer are finalizing details, including the price of the takeover. The process is taking longer as BetRivers’ stock continues to increase. According to the report, the potential sale of Rush Street is expected to be completed before the release of the company’s second quarter results.
The Company Has a Solid Presence across the US and LatAm
The potential sale comes after another major acquisition was announced recently. Last year, Fanatics, the fast-growing betting and gaming operator, purchased PointsBet’s US-facing assets, paving its way for further expansion in the country.
What’s yet to be confirmed about the potential sale of RSI is what assets it may involve. Currently, the BetRivers owner has a presence in many US states, including major markets such as New York, New Jersey, Pennsylvania and Michigan. Outside of the US, the brand operates in Ontario, Canada’s most populous province.
Besides North America, RSI continues to grow its footprint in Latin America too. While the company has established a foothold in Mexico and Colombia, it also anticipates entering Brazil.
Considering RSI’s extensive presence, it makes sense for an operator of the scale of DraftKings to consider a takeover. If that happens, the latter will further propel its market share.
Currently, DraftKings and FanDuel hold an overwhelming majority of the market share of the US betting sector. While it is logical for DraftKings to consider an acquisition of RSI, the newly released report suggests that “smaller companies” are also eyeing the potential sale.
One such operator is bet365, the globally recognizable gaming and betting company that currently operates in nearly a dozen US states. Still, OSGA’s report recognized that DraftKings “is the leading candidate.”
It’s important to note that DraftKings and RSI are yet to officially confirm whether or not a sale is being considered.
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