BlackRock boosts its stake to 13.3% in Rush Street Interactive
📈 BlackRock has increased its stake in Rush Street Interactive to 13.3%, holding approximately 13.6 million shares.
💰 The company's revenue grew from $691.2 million in 2023 to $1.1 billion in 2025.
📊 EBITDA improved significantly from $8.2 million in 2023 to $153.7 million in 2025.
📉 Company insiders were reported in May to be looking to sell a combined 10 million shares.
💵 BlackRock authorized a $100 million share repurchase program for the company.
📈 The stock is currently trading at $33.40 with an upward trend since early 2024.
🏢 Rush Street Interactive operates the BetRivers brand and has seen steady improvement over the past years.
Bullish Signals
- BlackRock significantly increased its stake from 5.9% to 13.3%, indicating strong institutional confidence in the company's future prospects.
- Revenue surged from $691.2 million in 2023 to $1.1 billion in 2025, demonstrating robust business growth.
- EBITDA improved dramatically from $8.2 million in 2023 to $153.7 million in 2025, signaling a major turnaround in profitability.
- The stock has maintained an upward trend for two full years since the beginning of 2024, trading at $33.40.
- BlackRock authorized a $100 million share repurchase program, which typically supports share price and signals management confidence.
Risk Factors
- Company insiders were reported in May to be looking to sell a combined total of 10 million shares, creating potential selling pressure.
- The article notes the company previously experienced a 'choppy period', suggesting recent volatility or operational challenges despite current gains.
Full Analysis
BlackRock has significantly increased its ownership stake in Rush Street Interactive, now holding an estimated 13.3% of the company's shares, up from 5.9% reported in March 2025. This move represents a tangible commitment to the brand behind BetRivers, which is currently trading at $33.40 and has maintained an upward trend since early 2024.
Financial performance for Rush Street Interactive has shown dramatic improvement over recent years. The company reported revenue of $691.2 million and EBITDA of $8.2 million in 2023, figures that have surged to $1.1 billion in revenue and $153.7 million in EBITDA by 2025.
Despite the strong institutional buy-in and operational growth, there are conflicting signals regarding insider sentiment. While BlackRock is accumulating shares, company insiders were reported in May to be looking to sell a combined total of 10 million shares. Additionally, the firm has authorized a $100 million share repurchase program.
Rush Street Interactive continues to navigate a choppy market environment but appears to be stabilizing with strong revenue growth and improved profitability metrics. The substantial increase in BlackRock's stake suggests confidence in the company's long-term trajectory despite the recent insider selling activity.
