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HomeStake may buy Rush Street Interactive
Stake may buy Rush Street Interactive
Specializing in cryptocurrencies, the Stake platform has established itself as one of the leading providers of online sports betting and casino games internationally.
It is currently seeking to penetrate more and more regulated markets worldwide.
To gain a foothold on the US market, which is set to become the world’s largest, the company would like to buy a player already present in the country.
This is why the company is reportedly very interested in Rush Street Interactive, which has been up for sale for some time now.
A market capitalization of $699.1 million for Rush Street Interactive
It has to be said that there are relatively few operators in the online gaming world who are both large, regulated and for sale. This is precisely the case with Rush Street Interactive. This makes Rush Street Interactive an ideal target for Stake. Indeed, it has long been for sale and holds online casino licenses in the USA, for example.
With a market capitalization of $699.1 million, Rush Street Interactive has been open to takeover discussions for several years.
Based in Chicago, it is present via the BetRivers and PlaySugarHouse brands in the following US states: Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia and West Virginia.
In addition, it also offers mobile sports betting in the Canadian province of Ontario and has access to Latin America including Colombia and Mexico among others.
>>> Read also: “Alfa Romeo F1 Team partners with online casino Stake”
Stake’s move from grey to white market
One thing’s for sure: Stake has all the resources needed to acquire Rush Street Interactive. In 2022, for example, it generated over $2.6 billion in revenues. In all, this online sports betting and casino gaming platform boasts no fewer than 6 million registered accounts, 10% of which are active.
At present, it is present in some of the biggest markets internationally, including Brazil and Japan, for example. However, it presents itself as a grey market operator. This means that it does not hold a license in these countries. Nevertheless, it has obtained authorization in another jurisdiction.
For some time now, Stake has been looking to expand more and more into regulated markets worldwide. In so doing, it is seeking to follow the transition from the grey to the white market already made by many of its main competitors, such as Entain and Stars Group among others.
For example, it has already applied for a license to offer online gaming in Ontario and Australia.
Launched in 2017, Stake is licensed in Curacao. Its gaming library includes over 2,350 slot machines and games with live dealers from Evolution, Pragmatic Play Live Casino and Bombay Live.
The platform is available in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), Tron (TRX), EOS (EOS) and Bitcoin Cash (BCC).
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