BlackRock has more than doubled its stake in Rush Street Interactive (RSI) to 13.3%, according to an amended filing with the US Securities and Exchange Commission (SEC) signed on 8 July 2026.
The asset manager now beneficially owns 13,825,679 Class A shares of the online casino and sportsbook operator, up from 5.9% at the end of March 2025. The position has roughly doubled over about 15 months, and BlackRock reported sole voting power over 13,664,456 of the shares.
The disclosure came through a Schedule 13G/A, the amended form investors use when they hold more than 5% of a company and intend to stay passive. That classification matters: it signals a financial position rather than any move to influence strategy or seek board seats. BlackRock is not taking an activist stance, only a larger bet on the stock.
A reversal after earlier selling
The build-up is notable because BlackRock had trimmed its RSI holding before rebuilding it. Crossing back above 13% marks a clear change of direction rather than a steady accumulation, and it lands as institutional interest in the operator has picked up more broadly. BlackRock made a comparable move earlier in 2026 when it crossed the 5% threshold in Flutter.
RSI runs the BetRivers online casino and sportsbook brand and is based in Chicago. The company has taken a more contained approach to the US market than several rivals, leaning on online casino revenue and tighter marketing spend rather than the heavy customer-acquisition outlays that defined the early sports-betting land grab. That discipline has fed through to margins.
Stronger numbers behind the buying
RSI reported revenue of around $1 billion for 2025, with adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rising on better operating efficiency. The company posted record first-quarter revenue in 2026, helped by growth in regulated markets and higher user engagement.
The stock has tracked that improvement. RSI shares traded at just over $10 in early 2025 and reached close to $30 by the end of June 2026, roughly tripling over the period and lifting its market value against the sector’s most valuable listed companies. The company was also added to the S&P SmallCap 600 index, a move that typically raises trading volumes and draws index-tracking funds into the register. Trading activity rose sharply in the days before the inclusion took effect.
Larger institutional positions tend to follow that kind of visibility. Passive and quantitative strategies rebalance toward newly indexed names, and a bigger BlackRock holding is consistent with that pattern rather than a standalone verdict on the business.
What a passive filing does and does not say
A 13G/A confirms the size of a holding and the intent behind it, not a view on price. BlackRock manages index and quantitative funds that must hold constituents of the benchmarks they track, so part of the increase likely reflects RSI’s index inclusion rather than a discretionary call. The filing does not commit the firm to holding the position, and passive stakes can move again on the next rebalancing.
RSI has not commented publicly on the change in its shareholder base. For a company that spent several years with a quiet share price, a 13.3% holding from the world’s largest asset manager adds a well-followed name to its register at a point when its financial trajectory is drawing wider attention. The next test is whether RSI’s second-quarter results, and its standing among the largest operators in the Americas by market cap, keep that institutional interest in place.
Source: U.S. Securities and Exchange Commission
