Rush Street Meets Wall Street: BetRivers Parent Company and Golden Nugget Stock Now Public

Posted on January 5, 2021

Ding! Ding! Ding! 

The bell rings and the action begins.

Whether it’s inside the boxing ring or on the stock trading floor, the bell starts it all.

And that’s exactly what happened on Tuesday, when Rush Street Interactive‘s leadership team, along with its Board of Directors and some other RSI employees had to honor of ringing the famous bell to start the day’s trading at the New York Stock Exchange.

Rush Street Interactive, the parent company of Rivers Casino in Pittsburgh and Rivers Philadelphia, officially launched on the NYSE on December 30th following a merger with special purpose acquisition company, dMY Technology Group Inc.

Today, the group got to celebrate all the hard work that went into the public offering with the symbolic ringing on Wall Street.

“This ceremony is a tribute to our incredible team, investors and partners who all made this day possible,” said Greg Carlin, Chief Executive Officer of RSI in a news release provided by the company.

Rush Street rings the bell

Rush Street Interactive got its start not far from Wall Street. The company launched its first online casino in New Jersey in 2016 and has been on an upward trajectory ever since. RSI’s BetRivers site was the first regulated online gaming site in Pennsylvania. The brand was also the first to enter the market in Indiana, Colorado and Illinois.

The company also earned some extra shine this year with a trio of awards. RSI was named the 2020 Global Gaming Awards Digital Operator of the Year. It also won the Casino Operator of the Year and Customer Service Operator of the Year at the EGR’s North America Awards.

Rush Street’s stock has also been performing well. The early versions of the stock traded below $10 this year. But that value has more than doubled as it successfully navigated its way to a full public offering. $RSI closed Monday at $20.52.

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The Golden Nugget stock also went public December 30

Another gaming entity went public on the same day as RSI, but Golden Nugget Online Gaming ($GNOG) landed on the NASDAQ stock market. The Golden Nugget stock also used the SPAC route, led by Houston Rockets owner Tilman Fertitta. Fertitta helped transition Landcadia Holdings II to the public GNOG offering on December 30.

Interestingly enough, Golden Nugget is also likely to land in Pennsylvania at some point. Golden Nugget is a leading online casino operator in neighboring New Jersey. The company was able to apply for a license in Pennsylvania as well. As noted previously at PlayPennsylvania, the company was approved by the Pennsylvania Gaming and Control Board in January of 2019, along with MGM. Golden Nugget paid a total of $8 million ($4 million each) to offer online table games and online slots in Pennsylvania.

Soon Pennsylvanians will be able to play Golden Nugget online games

Now, all that’s left is for Golden Nugget’s online casino games to go live in the Keystone State. And with the public stock offering complete, that should be a major focus for the company. An exact date for that launch is still uncertain, but it grows nearer every day.

On Tuesday though, it is RSI taking the biggest bow on Wall Street. But it’s been a busy year for both Rush Street and the Golden Nugget gaming entities.

Their stocks are both public now. Both available for trading on Tuesday.

Rush Street rang the bell and the action is underway.

But it won’t end there.

Lead image credit: AP Photo/Mark Lennihan

Nathan Frederick Avatar
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Nathan Frederick

Nathan Frederick is an award-winning writer with more than 1,000 published bylines and two decades of journalism experience. His work has won awards from the Pennsylvania Society of Professional Journalists, the Keystone Press Association, and the Associated Press Sports Editors. He has also authored three books, one of which debuted as an Amazon No. 1 New Release.

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