BetRivers Operator Looking for Buyer?

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Multiple sources have reported that Rush Street Interactive (RSI), owner and operator of BetRivers Casino and Sportsbook, is looking to sell its iGaming company. While some of the sources have yet to be verified, many are convinced that these rumors are true. RSI representatives have reached out to DraftKings and other online gambling industry leaders to test the waters regarding a potential sale. However, DraftKings are not ones to usually “show their hands,” and have claimed to be in continued communication with other companies as a part of their business strategy.

The public will likely not hear of any news from RSI until a firm deal is in place. There was also buzz back in 2021 of another RSI prospective buyer, ESPN.

BetRivers’ Growing iGaming Footprint

BetRivers is among the top industry leaders in iGaming with Rush Street Interactive’s current market capitalization totaling $1.44 billion. Rush Street Interactive operates iGaming and sports betting licenses in 14 US states ( AZ, CO, IN, IA, IL, LA, MD, MI, NJ, NY, OH, PA, VA, and WV) and also in Canada, Mexico, and Colombia. Because of RSI’s expansion to Latin America, there is speculation that the company could eventually attain an iGaming license in Brazil. This could situate RSI in a very profitable position.

BetRivers Online Casino and Sportsbook ranks fourth for Michigan online casinos. This achievement was accomplished in the 3 years the online casino has been active. While not quite in the same league as DraftKings, BetMGM, and Fandual, BetRivers stacks up nicely against the other Michigan casino licenses with its lifetime online casino revenue totaling $316 million.

The casino is expecting to follow that trend this year as it is estimating $120 million in 2024 revenue. The online casino has remained a favorite of Michigan players because of its frequent updates and changes like weekly slot game additions. BetRivers also offers some pretty competitive Michigan casino bonuses like “24 Hours of Casino Losses up to $500.”

Simultaneous Operators

In addition to BetRivers, Rush Street Interactive also owns and operates the iGaming brands PlaySugerHouse and RushBet. It is believed that even if RSI moves forward with a sale, BetRivers fans will be able to continue playing as usual. It is not uncommon for entertainment companies to operate multiple online casino brands concurrently. Ceasear Entertainment and Flutter Entertainment serve as examples of this.

DraftKings is also no stranger to this kind of business venture. In 2022, DraftKings acquired Golden Nugget Online Casino for $1.56 billion and both brands have remained active in the Great Lakes State. More recently, DraftKings also acquired the digital lottery service provider, Jackpocket.

Purchasing Rush Street Interactive could be of interest to DraftKings because BetRivers puts more of an emphasis on iGaming, while DraftKings identifies as a sports betting site first, acquiring the brand could help diversify DraftKings’ customer base.

Rush Street Interactive’s profit is continuously rising, it has established an impressive market reach in the iGaming market and does not have any debt. All of these things make for a very appealing investment for many online casino operators. The iGaming market is ever-growing and RSI faces some fierce competition, looking for a buyer may be the necessary strategic move Rush Street Interactive will make to ensure its success. For more information about RSI, visit https://www.rushstreetinteractive.com/.

Mac Daniel is a writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinemichigan.com