M&A

Rush Street Interactive completes NYSE listing

| By Robin Harrison
Rush Street Interactive has completed its combination with special purpose acquisition company (SPAC) dMY Technology Group, with trading of its shares on the New York Stock Exchange beginning on 30 December.
Wall Street

The deal was finalized after dMY shareholders backed the transaction at a shareholder meeting on 29 December, resulting in the business changing its stock market ticker to RSI. 

Announced in July, the combination of Rush Street Interactive, the igaming arm of the land-based operator, and dMY creates a major online casino and sports betting operator active in New Jersey, Colorado, Pennsylvania, Indiana, Illinois and Iowa, as well as in Colombia. 

It has also secured market access to three additional states, including New York, with plans to expand into other jurisdictions. The business’ growth has accelerated over the past year, with revenue for the nine months to 30 September 2020 up more than five fold year-over-year. 

“Today marks a momentous milestone for RSI as we enter the public markets with a tremendous opportunity ahead of us,” Rush Street Interactive chief executive Greg Carlin said. “With online casino and online sports betting still in the early stages in the United States, we believe there is significant growth potential for our business in both existing and new markets. 

“Our steadfast focus on customer experience and broad demographic reach, combined with our proprietary technology platform, provide us with what we believe are material advantages to further our leadership position as online gaming continues to mature.”

dMY Technology Group CEO Niccolo de Masi added that the SPAC had been impressed with Rush Street Interactive’s growth since 2012, and was excited to partner with its leadership team as it pursues further expansion.

Read the full story on iGB North America.

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