{"id":306906,"date":"2024-01-17T15:08:20","date_gmt":"2024-01-17T21:08:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=306906"},"modified":"2024-01-18T12:19:34","modified_gmt":"2024-01-18T18:19:34","slug":"rush-street-interactive-rallies-following-industry-conference","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/","title":{"rendered":"Rush Street Interactive Soars Following Conference Comments"},"content":{"rendered":"

Rush Street Interactive (NYSE: RSI) was among Tuesday\u2019s best-performing gaming equities. That’s after executives from the online sportsbook operator provided the investment community with a bullish update at Needham\u2019s Growth Conference.<\/p>\n

\"Rush
A Rush Street Interactive advertisement. The stock surged Wednesday following bullish comments by the operator at an industry conference. (Image: X)<\/figcaption><\/figure>\n

CEO Richard Schwartz and CFO Kyle Sauers participated in the event. Commentary from the Rush Street executives propelled upside in the stock, with the shares higher by 12.63% in late trading Wednesday on volume that was more than double the daily average.<\/p>\n

\n

The executives told conference attendees about the momentum accrued by the gaming company in the third quarter, which followed into October and then into December. One catalyst contributing to higher hold for the operator was efficient bettor access to play proposition wagers. The operator\u2019s constructive commentary on the fourth-quarter hold arrived amid expectations that some rivals<\/a> may have suffered lower-than-expected holds in the last three months of 2023.<\/p>\n<\/div>\n

Chicago-based Rush Street Interactive, which operates online and retail sportsbooks under the BetRivers and PlaySugarHouse brands, previously noted its Prop Central offering presents bettors with a more expansive, functional avenue for pregame and live proper wagers across multiple sports.<\/p>\n

Other Catalysts for Rush Street Interactive<\/h2>\n

At the Needham conference, Rush Street Interactive executives added that the company’s recent debut as the Delaware Lottery\u2019s iGaming partner<\/a> is off to a solid start, and expects to accrue benefits from its Latin America exposure.<\/p>\n

RSI operates under the BetRivers and PlaySugarHouse brands, and is currently available with mobile or retail businesses in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and West Virginia.<\/p>\n

\n

The gaming company is also operational in Colombia, Mexico, and Peru, among other Latin American economies. That could be beneficial, as Brazil mulls which sportsbook firms should receive licenses there. Brazil, the region\u2019s largest economy, is widely viewed as Latin America’s \u201cgolden goose\u201d of sports wagering.<\/p>\n<\/div>\n

The combined population in Latin American countries where sports betting is regulated is 365 million. By some estimates, the total addressable market for regional operators is $3 billion or more.<\/p>\n

Some Bullish Analyst Talk on RSI<\/h2>\n

Needham analyst Bernie McTernan maintained a \u201cbuy\u201d rating on Rush Street Interactive<\/a> with a $6 price target, which implies upside of 33% from where the stock trades at this writing. That projection is based on a 2025 enterprise value\/earnings before interest, taxes, depreciation, and amortization (EV\/EBITDA) forecast of 10x to 15x and approximately 1.6x this year\u2019s sales estimate.<\/p>\n

McTernan added that the operator\u2019s ongoing emphasis on iGaming provides some buffer against new entrants in the sports wagering field, such as ESPN Bet and Fanatics.<\/strong><\/p>\n

Nine analysts cover Rush Street Interactive, with eight rating the stock \u201cstrong buy\u201d or \u201cbuy.\u201d The consensus price target on the shares is $6.44.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rush Street Interactive (NYSE: RSI) was among Tuesday\u2019s best-performing gaming equities. That’s after executives from the online sportsbook operator provided the investment community with a bullish update at Needham\u2019s Growth Conference. CEO Richard Schwartz and CFO Kyle Sauers participated in the event. Commentary from the Rush Street executives propelled upside in the stock, with the […]<\/p>\n","protected":false},"author":46,"featured_media":222477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,1074],"tags":[81903,81871,80968],"acf":[],"yoast_head":"\nRush Street Interactive Rallies Following Industry Conference<\/title>\n<meta name=\"description\" content=\"Rush Street Interactive Soars Following Conference Comments.\" \/>\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\/rush-street-interactive-rallies-following-industry-conference\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rush Street Interactive Rallies Following Industry Conference\" \/>\n<meta property=\"og:description\" content=\"Rush Street Interactive Soars Following Conference Comments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/\" \/>\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=\"2024-01-17T21:08:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-18T18:19:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1602\" \/>\n\t<meta property=\"og:image:height\" content=\"1062\" \/>\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\/rush-street-interactive-rallies-following-industry-conference\/\",\"url\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/\",\"name\":\"Rush Street Interactive Rallies Following Industry Conference\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"datePublished\":\"2024-01-17T21:08:20+00:00\",\"dateModified\":\"2024-01-18T18:19:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Rush Street Interactive Soars Following Conference Comments.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-following-industry-conference\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"width\":1602,\"height\":1062,\"caption\":\"A Rush Street Interactive advertisement. 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