Reviewed listing: NYSE:RSI · Analysis dated Oct 19, 2026
It has not been confirmed whether the basis of this analysis still holds today. Read it as a dated earlier assessment; it does not establish a current buying opportunity.
How does the company make money?
Rush Street operates online casinos and sports betting, primarily in the Americas. The company earns money on wagers after paying out winnings and accounts for further deductions.
What supports the business?
Revenue and operating profit rose significantly in the first half. Cash generation from operating activities also increased.
What could improve?
More active players and better fixed-cost absorption could increase earnings. New markets help only if enough remains after advertising, fees, and technology costs.
How is the stock price assessed?
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
18.52 USD are justifiable under growth assumptions, but are not clearly cheap. The midpoint valuation is somewhat lower; stronger performance would be needed to create a meaningful margin of safety.
What is the main risk?
Higher gambling taxes, stricter regulations, and expensive advertising can quickly erode profits. In addition, a large part of the operating business belongs to other shareholders.
What is the overall assessment?
Watch: Rush Street is growing strongly and earning more from operations. 18.52 USD are reasonable if growth continues, but in our midrange calculation offer little cushion for higher taxes, competition, and additional costs.
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