Rush Street Interactive, among the fastest-growing regulated online casino and gaming companies in the country, had its management recently speak at the virtual SBC Summit Barcelona. The virtual Summit focused on the concepts propelling the growth of the sports betting and online gaming industry. The Summit also covered the opportunities in this emerging global market.
Greg Carlin, Rush Street Interactive CEO, participated in a panel entitled, “Gambling Gold Rush; Investment in the US.” Also, Richard Schwartz, company President, participated in the panel, “The Future of Sports Betting.”
The SBC Summit, Barcelona brought together the world’s leading gambling operators, suppliers, and regulation experts to discuss the latest developments in igaming and sports betting. The Summit is a unique opportunity to network with a worldwide audience and stay up to date on all of the latest developments in the world of online gaming.
The virtual Summit hosted more than 10,000 participants, 200 gambling operators, 275 top-notch speakers, and 100 exhibitors.
The topics covered at the SBC Summit included sports betting, casino gaming, payments, compliance, media, partnerships, and affiliate marketing.
The SBC Digital Summits deliver fully interactive virtual conferences, exhibitions, and networking opportunities to those with an interest in the U.S. gaming and sports betting industry. SBC consistently gathers together high-profile gambling industry executives to share their ideas and insights on the many emerging gaming opportunities in the U.S.
Rush Street Interactive Combines with dMY Technology Group
In July, Rush Street signed a business combination agreement with dMY Technology Group, Inc, a publicly traded special purpose acquisition company. Upon completion of the transaction, the newly combined company will change its name to Rush Street Interactive, Inc.
The combined company has an enterprise value of $1.78 billion, which more than 5.5x times the projected 2021 revenue of $320 million for Rush Street. DMY Technology is further looking to raise additional equity and has begun discussions with possible investors to raise more than $150 million.
The deal follows the example of rival DraftKings, which merged with a special purpose acquisition company and listed shares earlier this year. Since then, DraftKings stock has more than doubled.
Once the deal is completed, Neil Bluhm will continue as Chairman of the Board of Directors, Richard Schwartz will serve as President of the combined company and Greg Carlin will serve as the Chief Executive Officer.
The Board of Directors for the combined company will also include dMY’s CEO Niccolo de Masi and Chairman Harry You.
About Rush Street Interactive
Founded in 2012 by Neil Bluhm, Richard Schwartz, and Greg Carlin, Rush Street Interactive is a market leader in regulated online casino gaming in the U.S.
Rush Street’s innovative, proprietary iGaming platform delivers an immersive and customized user experience, and also offers a wide range of bonus tools. The platform presents premium in-game as well as live casino game streaming.
In 2016, Rush Street launched its first online casino game site, PlaySugarHouse, in New Jersey. Moreover, Rush Street was the first gambling company to launch online gaming in Pennsylvania.
Rush Street Interactive also owns the BetRivers brand, which it launched in Indiana, Colorado, and Illinois. Finally, Rush Street was the first U.S.-based gambling operator to launch a legal, regulated online sportsbook in Latin America, as Rushbet in Colombia.
About dMY Technology Group
Founded by Niccolo de Masi and Harry You, dMY Technology Group is a $230 million special purpose acquisition company. It was formed to effect mergers, asset acquisition, stock purchase, capital stock exchange, reorganization with one or more companies. dMY’s initial public offering was underwritten by UBS Investment Bank and Goldman Sachs & Co.