Rush Street Interactive, Inc. shares traded at $18.77 on January 13th, according to market data. The company's trailing P/E ratio was 72.19, with a forward P/E of 36.10.
Rush Street Interactive operates an online casino and sports betting platform that uses AI to create personalized gaming experiences. The platform serves markets in the U.S., Canada, Mexico, Colombia, and Peru. Its AI-driven approach tailors offerings to regional preferences, such as NBA betting for American users or football wagering for Colombians.
The company has established early market access in Pennsylvania, West Virginia, Michigan, New Jersey, and Ontario. Its presence is particularly strong in Latin America, where it holds a dominant position. Monthly active users grew 46% year-over-year in the U.S. and Canada, and 30% in Latin America.
Financially, Rush Street Interactive reported 20% year-over-year revenue growth. The company has no debt, $88.9 million in free cash flow, and a cash balance of $273 million. Net income has seen fluctuations due to promotional spending in Colombia.
Recent regulatory developments in Colombia saw the Congress reject a proposed 19% online gambling VAT. The company is pursuing expansion into Brazil, Argentina, and Chile, targeting a Latin American total addressable market of $28.9 billion. Its trailing twelve-month revenue stands at approximately $1 billion.
Rush Street Interactive's valuation is $4.3 billion. The company's strategy focuses on user growth, regional expansion, and AI-driven differentiation.
Denis Gorbunov presented a bullish thesis on Rush Street Interactive, emphasizing AI-driven personalization, Latin American dominance, and rapid international growth. Previously, a bullish thesis on DraftKings Inc. highlighted its dominance in U.S. online sports betting and state-by-state expansion. DraftKings' stock price appreciated by 2.59% following coverage due to positive reaction to a prediction market launch.
According to database records, 31 hedge fund portfolios held Rush Street Interactive at the end of the third quarter, down from 34 in the previous quarter. The company is not included in a list of the 30 most popular stocks among hedge funds.