Analysis Of Rush Street Interactive Stock Price And Why It Is A Buy

Rush Street Interactive Investment Summary

RSI went public on 30th December 2020 and has a year range of 10.01-26.55. Based on the current RSI stock price of $10.31-$10.45, and the analysis of fair values, $RSI is a buy.

About Rush Street Interactive Stock

Rush Street Interactive, Inc. (RSI) is an online casino and sports betting gaming company in the United States. RSI provides a range of offerings, including real-money online casino wagering, online and retail sports wagering, and social gaming.

In 2018, RSI became the first U.S.-based online gaming operator to launch in Colombia, which was an early-adopting Latin American country to legalize and regulate online casinos and sports betting nationally.

Their real-money online casino and online sports betting offerings are provided under BetRivers.com and PlaySugarHouse.com brands in the United States and under RushBet.co-brand in Colombia. The Company operates a real-money online casino and online sports wagering in New Jersey and Pennsylvania. It also operates online sports wagering in Indiana, Colorado, and Illinois and provides retail sports wagering services in Illinois, Pennsylvania, New York, Indiana, and Michigan.

RSI operates and/or support retail sports betting for bricks-and-mortar casino partners primarily under their respective brands

Impact of COVID-19

During the period of stay-at-home orders, RSI’s business volume significantly increased and has continued to remain strong as many orders were lifted. COVID-19 has also directly impacted sports betting due to the rescheduling, reconfiguring, suspension, postponement, and cancellation of major sports seasons and sporting events.

The suspension and alteration of sports seasons and sporting events earlier in the year reduced customers’ use of, and spending on, sports betting offerings and caused RSI to issue refunds for canceled events. Additionally, while many brick-and-mortar casinos where RSI operates retail sports betting have reopened, they generally continue to operate with reduced capacity. Ongoing or future closures of brick-and-mortar casinos and certain ongoing limitations on visitations to such casinos due to COVID-19 may provide additional opportunities for RSI to market online casinos and sports betting to traditional bricks-and-mortar casino patrons.

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