Freedom Capital initiated coverage of Rush Street Interactive (RSI) with a Buy rating and $25 price target An investment in Rush Street is “a bet on online casino,” says the analyst, who notes that management has described RSI as being roughly 70% online casino and 30% online sports betting on a worldwide basis. RSI generated revenue north of $700M coming from online casino from just five U.S. states and the province of Ontario, notes the analyst, who estimates that online casino gross gaming revenue grew within a range of 14%-82% for each of the five U.S. states in FY25.
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