Rush Street Interactive (RSI) shares reached an all-time high of $33.83 on 20 July, giving the online casino and sportsbook operator a market capitalisation of $7.77 billion. The stock has risen 124.01% over the past 12 months, one of the sharpest gains among US-listed gambling companies.
RSI trades on the New York Stock Exchange under the ticker RSI. The Chicago-based company runs the BetRivers and PlaySugarHouse brands, with online casino and sports betting operations across regulated US states and in Latin America, where Colombia and Mexico anchor its international business.
What is driving the rally
The 124% one-year gain tracks a run of revenue growth and improving profitability that has moved RSI from a cash-burning SPAC listing into a company reporting positive earnings. The climb has outpaced several larger rivals over the same period, narrowing the valuation gap with operators many times its size by revenue.
At $7.77 billion, RSI’s market value now sits within reach of some of the sector’s mid-tier names, a shift in investor sentiment from the company’s early years as a public company. RSI went public through a SPAC merger with dMY Technology Group in December 2020, and the shares spent much of 2022 and 2023 below $5. Its position among the largest listed operators in the region is set out in TGE’s ranking of the top iGaming operators in the Americas by market cap.
Executive trusts sold into the strength
The new high follows a $260 million secondary offering completed earlier in 2026. Trusts owned by key executives, including Executive Chairman Neil Bluhm and Chief Executive Richard Schwartz, sold 10 million shares in the deal, which was priced at $26.00 per share.
The transaction was a secondary sale, meaning the proceeds went to the selling shareholders rather than the company. RSI did not raise new capital or issue new stock. With the shares now near $33.83, the price sits roughly 30% above the level at which the executive trusts sold.
Insider secondary offerings can weigh on a share price by increasing the free float and signalling that large holders are taking money off the table. In RSI’s case, the stock has continued higher since the sale, indicating demand absorbed the additional shares without lasting damage.
Where RSI sits in the market
RSI is a smaller operator than US market leaders FanDuel and DraftKings, but its online-only model and focus on a defined set of regulated states has produced steadier margins as the wider sector has moved toward profitability. The company reports across North America and Latin America, with the international segment growing as a share of the business. RSI’s valuation against the wider field appears in the top 50 iGaming companies by market cap.
Next test: second-quarter earnings
RSI is scheduled to report second-quarter 2026 results on 29 July, with an earnings call the same day. The figures will show whether the revenue and margin trends that carried the stock to a record can hold, and whether management raises full-year guidance. For a stock up 124% in a year, the market has priced in continued growth, leaving little room for a miss.
Source: Rush Street Interactive
