Rush Street Aiming To List On The NYSE

By Ben Hamill - July 30 2020

Rush Street Aiming To List On The NYSE

An anonymous source has leaked information about social casino and real money games developer Rush Street Interactive’s plans to become a publicly listed company on the New York Stock Exchange.

And according to the same source, Rush Street Interactive, thanks to a deal with special acquisition company vehicle dMY Technology Group Inc. (New York handle: DMYT), may very well soon benefit from a merger and quick-paced public trading offering being on the cards for the company.

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Shortcut To Public Listing

The blank check acquisition company vehicle way of ensuring a status of trading publicly has become a quick go-to resort in recent years, with many a gaming companies having recently decided to try that route.

One of the first gaming giants to have successfully nabbed the status of public trading by going about the business of listing in this roundabout fashion is none other than industry-giant DraftKings (now trading under the handle NASDAQ:DKNG). DraftKings obtained its publicly-listing status in April. This was just after a reverse merger concluded between DraftKings and SPAC Diamond Eagle Acquisition.

dMY Considering These Qualifiers

dMY has in the meantime proved successful at having had raised funds to the tune of at least $230 million. This figure applies to the period leading up to February this year. Most analysts agree that there could very well be a connection between the money raised by dMY Technology Group and Rush Street Interactive because of the fact that when dMY finally spilled the beans to investors and interested parties, it referred specifically to a future focus on those deals relating to mobile application creators and developers. This description, say analysts, is Rush Street Interactive to a tee.

In addition to a focus on companies who have managed to develop engaging mobile apps, dMY is apparently furthermore specifically interested in those companies who have shown themselves proficient in creating corporate growth in fields such as e-commerce, mobile-focused gaming and entertainment, dating, health, and wellness.

Arguments In Favour

What would make Rush Street even more attractive to any special acquisition vehicle is that it controls a fully regulated online casino in the state of New Jersey, which is currently regarded one of the fastest-growing online gaming markets in the United States.

Not only does Rush Street focus on real-money gaming, but it also owns several social casino brands and offerings in several other states – including Pennsylvania, Colorado, Illinois, and Indiana. If any company qualifies to be struck while it’s hot, then Rush Street Interactive certainly makes the cut.

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