Rush Street Interactive CEO Judith Gold is selling $1.9 million worth of shares to Investing.com
CHICAGO—Judith Gold, CEO of Rush Street Interactive, Inc. (NYSE:RSI), has sold a significant portion of its stake in the company, according to a recent filing with the Securities and Exchange Commission. Gold sold a total of 139,000 shares of Class A common stock over two days, December 30 and December 31, 2024, with a total transaction value of approximately $1.9 million. The sale comes as RSI shares have shown exceptional strength, rising 203% over the past year and currently boasting a market cap of $3.09 billion.
Shares traded at prices ranging from $13.5495 to $13.75 per share. These transactions were carried out according to the previously established trading plan 10b5-1 of September 26, 2024. According InvestingPro data, RSI’s stock has shown significant momentum, up 42% over the past six months.
Following these sales, Gold, through the Daniel S. Kotcher Revocable Trust, no longer holds shares of Class A Common Stock. The transactions were part of a strategic financial decision, as indicated by the use of a 10b5-1 plan, which allows insiders to sell a predetermined number of shares at a predetermined time to avoid insider trading charges. The company maintains a strong financial position with a current ratio of 1.71 and impressive revenue growth of 30.31% over the last twelve months.
Rush Street Interactive, headquartered in Chicago, operates in the entertainment and recreation services sector. The company is known for its online sports betting and casino gaming services. For a comprehensive analysis of RSI’s financial health and growth outlook, investors can access detailed research reports and additional insights via InvestingPro.
In other recent news, Rush Street Interactive (RSI) reported a record third quarter of 2024, with revenue rising to $232 million, a 37% year-over-year increase. The company’s adjusted EBITDA also saw a significant increase to $23 million, representing a more than five-fold increase over the previous year. This strong performance led RSI to revise up its 2024 revenue guidance by 3% and its EBITDA guidance by 24%, now forecasting EBITDA more than 110% above initial expectations for the year.
RSI also announced a share repurchase program of up to $50 million and reported a strong cash position with $216 million of unrestricted cash and no debt. The company’s monthly active users (MAU) grew significantly in North America (28%) and Latin America (122%).
RSI is exploring expansion into new markets, particularly focusing on Latin America and Canada, and is open to potential acquisitions. Despite challenges with low retention rates in North American sports betting and potential regulatory risks, RSI remains optimistic about the momentum of iGaming legalization in various states. The company is also preparing for a January launch in Brazil and plans to enter the Peruvian and potentially Alberta markets.
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