Executives and employees of Rush Street Interactive Inc., will ring the opening bell at the New York Stock Exchange Tuesday morning.
Rush Street Interactive (NYSE: RSI) is the parent company of PlaySugarHouse brand, offering both NJ online casino and sports betting.
RSI is newcomer to the NYSE
RSI completed a merger with dMY Technology Group Inc., a special purpose acquisition company, in order to publicly trade the new business venture and raise investor capital. The new stock symbol was first traded Dec. 30, 2020.
“This ceremony is a tribute to our incredible team, investors and partners who all made this day possible,” said Greg Carlin, CEO of RSI.
In addition to live television coverage of the ceremony, the NYSE will live stream the opening bell ringing on its website, beginning at 9:29 a.m.
Wall Street Trend Setting
RSI is one of several pure publicly traded online casino companies in the United States. Others include DraftKings and Golden Nugget Online Casino.
Carlin, using data from research firm Eilers & Krejcik, said the domestic internet gaming market could be worth $20 billion, while sports wagering could be in the $15 billion neighborhood.
The company previously said it was well-positioned to capitalize on those growth trends.
In New Jersey, SugarHouse online casino operates under the Golden Nugget AC license while the sportsbook has a land-based partnership with Monmouth Park.
Outside of the Garden State, RSI currently operates the BetRivers brand in five states:
It also has market access for three others, including New York.
“RSI is growing quickly and has experienced a revenue increase of nearly five times from the first nine months of 2019 to the first nine months of 2020,” according to a company statement.