{"id":170821,"date":"2021-04-16T12:10:06","date_gmt":"2021-04-16T19:10:06","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=170821"},"modified":"2021-04-16T14:03:44","modified_gmt":"2021-04-16T21:03:44","slug":"rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/","title":{"rendered":"Rush Street Interactive Stock Has Tech Goods for Major Upside, Says Jefferies Analyst"},"content":{"rendered":"

Rush Street Interactive (NYSE:RSI) stock is poised to snap out of its post-merger slump and deliver upside for investors by way of its enviable technological capabilities.<\/p>\n

\"RSI
The floor of the New York Stock Exchange, where Rush Street Interactive trades. An analyst sees substantial upside for the stock. (Image: New York Post<\/em>)<\/figcaption><\/figure>\n

Those are the sentiments of Jefferies analyst David Katz, who initiates coverage of the online casino operator with a \u201cbuy\u201d and a price target of $21. That implies upside of roughly 50 percent from the April 15 close. That’s at the higher end of price forecasts on the newly public company.<\/p>\n

Our positive view of RSI is driven by its unique attributes in the context of the broadly nascent digital market,\u201d said Katz in a note to clients. \u201cA pivotal Street debate is over the value of an owned\/proprietary tech stack; we are convicted it provides strategic and economic benefit, as evidenced by proprietary product and profit.\u201d<\/p><\/blockquote>\n

That’s welcome commentary for wary Rush Street Interactive investors. The iGaming operator has been a standalone publicly traded entity for less than four months following a merger<\/a> with a special purpose acquisition company (SPAC), and the shares are struggling. Year-to-date, RSI stock is lower by almost 34 percent, and it resides 46.59 percent below its pre-merger highs.<\/p>\n

For RSI Stock, Tech Is Difference Maker<\/h2>\n

As the internet casinos industry takes off in the US, investors and operators are seeing the value in vertical integration — a company’s ability to source back-end support and technology offerings from within, rather than relying on third-party vendors.<\/p>\n

\n

The model can allow for better margins and superior bottom line expansion. It’s also increasingly common in the online gaming and sports betting industries. In addition to Rush Street Interactive, Bally’s and DraftKings are notable examples of operators<\/a> pursuing vertical integration.<\/p>\n<\/div>\n

\u201cRSI is among the few US iGaming companies with a vertically integrated technology stack, where its proprietary back-end iGaming platform enables it to more quickly enter new states and customize wagering options and user experiences,\u201d according to Singular Research.<\/p>\n

Katz, the Jefferies analyst, sees advantages for RSI through land-based casinos via the company’s ties to Bet Rivers parent Rush Street, as well as social gaming providing \u201ccritical pre-market momentum.\u201d<\/strong><\/p>\n

Strong iGaming Positioning<\/h2>\n

Sports betting is getting plenty of press, but industry insiders<\/a> see online casinos as a real driving force of next generation gaming and Wall Street agrees.<\/p>\n

Last month, Goldman Sachs said online casinos in the US today represent a $1.5 billion market. But that will surge to $14 billion in 2033, while delivering a compound annual growth rate (CAGR) of 27 percent for more than a decade.<\/p>\n

Should those forecasts prove accurate, it could be a boon for RSI stock due to the operator’s enviable market share.<\/p>\n

\u201cRSI maintains a #1 market share position in the US iCasino industry and the #3 or #4 position in sports betting for most states,\u201d according to Singular.<\/strong><\/p>\n

The research firm also views RSI as a potential takeover target for a European operator looking to gain a stronger foothold in the US market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rush Street Interactive (NYSE:RSI) stock is poised to snap out of its post-merger slump and deliver upside for investors by way of its enviable technological capabilities. Those are the sentiments of Jefferies analyst David Katz, who initiates coverage of the online casino operator with a \u201cbuy\u201d and a price target of $21. That implies upside […]<\/p>\n","protected":false},"author":46,"featured_media":170823,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19],"tags":[],"acf":[],"yoast_head":"\nRSI Stock Ready to Be Big iGaming Winner, Says Jefferies Analyst<\/title>\n<meta name=\"description\" content=\"RSI stock, backed by technology and strong market share, could be a leader among iGaming names.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RSI Stock Ready to Be Big iGaming Winner, Says Jefferies Analyst\" \/>\n<meta property=\"og:description\" content=\"RSI stock, backed by technology and strong market share, could be a leader among iGaming names.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-16T19:10:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-16T21:03:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/NYSE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/\",\"name\":\"RSI Stock Ready to Be Big iGaming Winner, Says Jefferies Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/NYSE.jpg\",\"datePublished\":\"2021-04-16T19:10:06+00:00\",\"dateModified\":\"2021-04-16T21:03:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"RSI stock, backed by technology and strong market share, could be a leader among iGaming names.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/rsi-stock-ready-to-be-big-igaming-winner-says-jefferies-analyst\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/NYSE.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/NYSE.jpg\",\"width\":2000,\"height\":1333,\"caption\":\"The floor of the New York Stock Exchange where Rush Street Interactive trades. 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