Last Updated on July 27, 2020

According to a report from Bloomberg, Rush Street Interactive could be following the lead of DraftKings, Inc. ($DKNG) by going public on the Nasdaq Stock Market. DraftKings recently went public through the use of a reverse merger and Rush Street appears to be moving towards a deal with dMY Technology Group, Inc. for the very same reason:

“Gaming technology operator Rush Street Interactive is in talks to go public through a merger with blank-check company dMY Technology Group Inc., according to people familiar with the matter.”

 

The report states that the two sides are in close talks and could reach a deal within the next few days, but nothing has been finalized. Of course, without an agreement in place, there’s always the possibility of the deal falling through.

Rush Street might not be a household name, but the company operates two of the biggest and most well-known sportsbooks in the U.S. BetRivers and PlaySugarhouse are two properties run by Rush Street in five states — Colorado, Illinois, Indiana, New Jersey, and Pennsylvania.

 

 

 

DraftKings Leads The Way

Shortly after DraftKings went public, the sports world shut down in response to the COVID-19 outbreak. That might seem like a bad thing for sportsbooks, but DraftKings’ stock price soared during the sports hiatus. Despite sitting at $36.27 as of Friday afternoon, DKNG rose to a market-high of $44.79 at one point in June.

One of the reasons DraftKings stock is surging could be the coming wave of legal sports betting legislation. With states in desperate need of tax revenue, sports betting, and more specifically mobile sports betting could be a way for states to help refill the coffers.

Rush Street is likely looking at how DKNG is performing and looking to join the party. With the return of live sports, the sports betting industry is set for a major boom.

Danny is bringing his years of experience as a New York sportswriter to the Action Rush team. He’s spent time covering just about every professional team in New York for Elite Sports NY. Whether it’s writing, podcasting, video content, or anything in between, Danny has done it all.