Rush Street Interactive dubbed the Ideal candidate for Stake US expansion

RSI, valued at $699.1m, operates mobile and retail gambling in multiple US states, including Colorado, Michigan, and New Jersey

Crypto casino and betting operator Stake.com is reportedly considering acquisitions to enter the US gambling market, with Rush Street Interactive (RSI) potentially being among its target candidates. Stake.com aims to expand into regulated gaming markets worldwide, including the US, and RSI aligns well with its requirements.

During a livestream interview with The Gaming Update, Stake CEO Ed Craven revealed the company's upcoming strategic focus on the regulated US market, hinting at a significant acquisition. However, he chose not to provide additional information about the potential merger or acquisition.

Eilers & Krejcik Gaming (EKG) stated in its recent “EKG Line” report that RSI is an ideal fit due to its large size, regulatory compliance, and availability for acquisition. Moreover, RSI possesses online casino licenses that Stake.com would likely find appealing. 

While EKG did not disclose specific companies, it noted that Stake.com may have explored potential deals in the fantasy sports and skill gaming sectors. However, Stake.com's financial prowess is evident, as it generated $2.6bn in revenue last year, surpassing DraftKings' $2.2bn. With 6m registered accounts, including active users in major markets like Brazil and Japan, Stake.com is well-positioned to pursue a deal.

RSI, with a market capitalization of $699.1m, is an affordable option for acquisition. The Chicago-based operator currently operates under the BetRivers and PlaySugarHouse brands, offering mobile and retail businesses across several states, such as Colorado, Michigan, and New Jersey. Additionally, RSI provides mobile sports betting in Ontario and has access to Latin American markets, including Colombia and Mexico.

Stake.com, which is currently operating in the gray market, aims to transition to the white market and a more desirable and regulated status. Several competitors, including Entain and the Stars Group, have successfully made this transition in various markets worldwide.

Craven’s statement on a potential US acquisition follows Twitch's recent action to ban Stake.com and three other crypto-first operators from its platform. Twitch cited concerns about these operators operating outside regulatory boundaries, leading to their removal from the platform's support framework.

Currently, Stake.com is also pursuing igaming authorization in Ontario, Canada, and is seeking permits for Australia's regulated internet wagering market. Stake co-founders Edward Craven and Bijan Tehrani have registered Stake Gaming Pty Ltd with the Australian Securities and Investment Commission (ASIC), signaling their intent to establish a legal gambling operator in Australia to compete with industry giants like Tabcorp and Sportsbet

Looking for your next crypto casino? Check out Bitcasino, Mega Dice or FortuneJack!

Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.