HBK Sorce Advisory LLC Increases Stake in Rush Street Interactive by 100%
June 19, 2023
🌥️Trending News
Recently, HBK Sorce Advisory LLC made a major investment in Rush Street Interactive ($NYSE:RSI), Inc. (RSI), a leading online gaming and sports betting company. During the fourth quarter, HBK Sorce Advisory LLC increased its ownership of RSI stock by an impressive 100.0%. The company operates a diverse portfolio of gaming brands offering casino and sports betting products in multiple jurisdictions across the United States. RSI also offers a wide range of proprietary products such as Kambi Sportsbook Platform, a comprehensive online sports betting system, and iGaming Platform, a robust online casino platform.
With this increased stake, HBK Sorce Advisory LLC will have the opportunity to further its support of Rush Street Interactive. This move is likely to benefit both parties as the company continues to grow its presence in the United States and beyond.
Analysis
At GoodWhale, we have conducted an analysis of RUSH STREET INTERACTIVE’s wellbeing and determined it to be a medium risk investment according to our Risk Rating. This rating is based on financial and business aspects, and is based on our assessment of the company’s financial statements. We have also detected 2 risk warnings in the income sheet and cashflow statement. To gain access to further detailed information, become a registered user with GoodWhale. We can provide more insight into the risks associated with this investment. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for RSI. More…
| Total Revenues | Net Income | Net Margin |
| 619.63 | -31.19 | -5.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for RSI. More…
| Operations | Investing | Financing |
| -60.32 | -28.99 | -1.22 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for RSI. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 350.35 | 159.47 | 0.86 |
Key Ratios Snapshot
Some of the financial key ratios for RSI are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 110.3% | – | -15.6% |
| FCF Margin | ROE | ROA |
| -14.3% | -108.0% | -17.3% |
Peers
In the online gambling industry, there is intense competition between companies vying for market share. This is especially true for Rush Street Interactive Inc, which is up against well-established competitors such as DraftKings Inc, Caesars Entertainment Inc, and Penn National Gaming Inc. While each company has its own strengths and weaknesses, Rush Street Interactive has been able to carve out a niche for itself and become a major player in the online gambling industry.
– DraftKings Inc ($NASDAQ:DKNG)
DraftKings is a Boston-based daily fantasy sports contests provider. The company allows users to enter daily and weekly fantasy sports-related contests and win prizes. DraftKings also offer suggestions and tools for users to help them create their fantasy teams. The company was founded in 2012 and has since then grown rapidly, with a valuation of over $6 billion as of 2020. Despite its impressive growth, DraftKings has been unprofitable so far, with a negative return on equity of 69.05% as of 2020. The company is still in its early stages and is investing heavily in expansion, which is the likely reason for its negative profitability.
– Caesars Entertainment Inc ($NASDAQ:CZR)
Caesars Entertainment Inc is a gaming and hospitality company. The company’s brands include Caesars, Harrah’s, Horseshoe, and Eldorado. Caesars Entertainment operates casinos, resorts, and golf courses. The company was founded in 1937 and is based in Las Vegas, Nevada.
– Penn National Gaming Inc ($NASDAQ:PENN)
As of 2022, Penn National Gaming Inc has a market cap of 5.19B and a Return on Equity of 16.23%. The company is a leading operator of gaming and racing facilities in the United States. Penn National Gaming’s properties include casinos, racetracks, and off-track betting. The company also offers online gaming and sports betting through its Penn Interactive Ventures subsidiary.
Summary
Investment analysis of Rush Street Interactive, Inc. (RSI) shows positive signs for the company. Analysts suggest that RSI is a promising investment given its strong performance over the past few months and potential for further growth. With new business opportunities emerging, investors can benefit from the current market conditions and should consider investing in RSI for long-term returns.
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