Despite everything that’s been occurring this year, the gambling industry and the online casino market have still managed to stay vibrant and full of news stories. There have been new markets and partnerships, and plenty of interesting accounts to read too. One of the latest hot topics in the industry is Rush Street Interactive, and their bid to go public.
A company going public in the casino industry is always a hot topic, as it can completely disrupt and change the stock market. It can also have direct implications for other companies, and change the layout of the land for gamblers, too. We’re always eager to cover stories like this, and if you’re a gambling fan, this is one you absolutely need to know about.
In this blog post, we’ll be taking a look at Rush Street Interactive, and what they bring to the table as a company. We’ll be examining the online casino market too, analyzing the state of it in 2020 and looking at how stories like companies going public could have a major impact on the industry, from a holistic point of view.
What we cover
Who is Rush Street Interactive?
To start off with, let’s make sure that we are all on the same page and establish who Rush Street Interactive actually is. As established on their website, Rush Street Interactive – a subgroup of Rush Street – is a leading gaming technology company, which aims to bridge the gap between brick-and-mortar casinos and iGaming specialists.
They offer up a number of key products, including social casino products, games and a fully-fledged iGaming platform, right here in New Jersey. They recently put out a fascinating investor deck, highlighting the position of the company versus other companies in the industry, and promising a ‘pandemic-resistant’ business model.
If you’re interested in the online casino market, the Rush Street Interactive investor deck is an absolutely fascinating read. The deck projects statistics about the future of online gaming- which looks immense and positive, despite the nature of 2020. Rush Street Interactive appears to be geared up for an incredibly successful year.
Why is Rush Street Interactive in the news right now?
If you’re involved with the online casino market at all, it’s likely that you’ve seen Rush Street Interactive’s name being talked about a lot lately. This is due to the fact that the company is setting up to go public, as reported in this article here.
To be more specific, Rush Street Interactive is looking to work with a Special Purpose Acquisition Company. If you’ve never heard of this type of company before, SPAC organizations are aimed specifically at taking private companies to a larger, more public audience. Rush Street Interactive’s existing portfolio and skillset will make this move lucrative.
There have been a number of companies in the sector going public this year- one key example being the industry legend, DraftKings. It always has a fascinating effect on the stock market, and brings more attention to the online casino market as a whole. Rush Street Interactive’s move to go public could disrupt the entire market, in a positive manner.
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How is the online casino market looking in 2020?
In general, Rush Street Interactive has picked a fantastic time to go public in the online casino market. There are more people now than ever before playing online casino games, and the industry has been getting more attention from investors too. This industry was once heavily stigmatized, but it is now innovative, modern and fast-paced.
One of the main things that has boosted the online casino market this year is the recent lockdown measures. With people unable to get to their favorite casinos, more and more people turned to online games to get their fix. People are still enjoying online games now even though lockdown is lifting, and Rush Street Interactive can capitalize on this.
While there is certainly a huge demand for the online casino market to continue putting out a strong portfolio of work, it is important to note that the online casino market has got even more competitive in 2020. New Jersey and Pennsylvania are fiercely competitive states, for example, and Las Vegas-based companies have been storming the market too.
For Rush Street Interactive to truly ace their move to being a public company, the team will need to seriously consider the level of competition that exists within the online casino market right now. The holistic approach that Rush Street as a whole takes is inspiring, with their view on combining online and offline gaming. This should help them to stand out from the crowd.
It will be interesting to see whether Rush Street Interactive can effectively compete in crowded markets, too. They are a huge player in the online casino market already, and going public could make a wealth of difference to their products. We’ll certainly be following this story with great interest as it develops further into the year.
Summary
All in all, it will be very interesting to see how Rush Street Interactive perform for the rest of 2020. Companies going public often find that they receive more media attention and a dramatic shift in investor attitudes, too. We’ll certainly be following this story with great interest to see what happens to the company next.
It has been intriguing to see how the online casino market has responded to 2020, too. While this has been a disruptive and chaotic year for many people, online casino companies have made an effort to still keep their products on offer to keep people entertained. It’s sure to be an interesting finish to the year, especially for companies like Rush Street Interactive.
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