Rush Street Interactive, LP ‘RSI’ is one of the fastest-growing online casino and sports betting gaming companies in the United States and has expanded its goal to build a stronger online casino presence there. Real estate magnate Neil Bluhm the co-founder of online casino and sports betting firm Rush Street Interactive is committed to that growth. As more states look to legalizing online betting to raise revenue, the Chicago billionaire is already cashing in on the fast growing online gambling industry. Rush Street Interactive hopes to go live in new states in 2021 as the need for change in the casino industry becomes obvious with the covid-19 pandemic keeping players at home.
Bluhm commented recently in Forbes, “Very few states have allowed [online casinos] so far, but they need revenue now, so many states are considering it,” “They’re all looking at it because they’re desperate for revenue and jobs.” Adding, “Sports betting is getting all the attention, but we’re projecting that online casinos will be more valuable,” Bluhm continued, “We’re growing like a weed and we’re adding states all the time,” “The growth potential is tremendous.”
The company is active in nine of the states in the U.S. and Columbia South America while its main competitor DraftKings is operating in eleven states as well as in Canada and the U.K. although the focus for DraftKIngs is on internet sports wagering and RSI dominates the online casino sector with 15 percent of the US online casino market.
Analyst Chad Beynon commented "You really have to look out a couple of years and say, 'what will the market share be for some of these winners in the market?’ Unfortunately this is a time where we're thinking like software analysts, where we put a multiple on 2025 or 2030 numbers,” Beynon explained, “The next question is what does Rush Street do between 2021 and 2030? DraftKings is out there and they have the market access, and Rush Street has done very well in the markets that they're in.”
