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CHICAGO—Richard Todd Schwartz, the Chief Executive Officer of Rush Street Interactive, Inc. (NYSE:RSI), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Schwartz sold 193,905 shares of Class A common stock in a transaction dated April 8, 2025. The shares were sold at a weighted average price of $10.63 per share, resulting in a total transaction value of approximately $2.06 million. According to InvestingPro data, RSI's stock has shown significant volatility, delivering a remarkable 66% return over the past year despite recent price fluctuations.
The sale was executed under a prearranged 10b5-1 trading plan, which had been established on August 16, 2024. This type of plan allows company insiders to set up a predetermined schedule for selling stocks, helping them avoid potential accusations of insider trading.
Following the transaction, Schwartz retains ownership of 1,599,186 shares. The shares were sold in multiple transactions, with prices ranging from $10.25 to $11.15 per share. Schwartz has committed to providing detailed information on the number of shares sold at each price upon request.
Rush Street Interactive, headquartered in Chicago, is a prominent player in the online gaming and sports betting industry. The company has demonstrated solid growth with revenue increasing by 33.7% in the last twelve months, and analysts expect continued profitability in the coming year. For deeper insights into RSI's financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, Rush Street Interactive reported a strong fourth-quarter 2024 performance, exceeding Wall Street expectations with an earnings per share of $0.07 and revenue of $254.2 million, surpassing the forecasted $243.83 million. The company achieved a 31% year-over-year revenue increase, with significant growth in both iCasino and sports betting sectors. Analysts at Benchmark raised their price target for Rush Street Interactive to $14, maintaining a Buy rating following the company's record-breaking quarter. Susquehanna also upgraded the stock from Neutral to Positive, citing optimism about the company's strategic positioning and growth potential in key markets.
Rush Street Interactive's full-year 2024 revenue reached $924.1 million, marking a 34% increase from the previous year, while its adjusted EBITDA rose 11 times to $92.5 million. The company ended the year with $229 million in unrestricted cash and no debt, highlighting its strong financial position. Looking ahead, Rush Street Interactive has provided a 2025 revenue guidance range of $1,010 million to $1,080 million, with a projected adjusted EBITDA of $115 million to $135 million. The company remains focused on expanding its iCasino markets and enhancing its proprietary technology platform.
Despite potential regulatory challenges, particularly in the Colombian market, Rush Street Interactive's operational agility and strategic initiatives are expected to support continued growth. The company is also exploring potential mergers and acquisitions, with CEO Richard Schwartz emphasizing the importance of strategic focus and high-quality user experiences. As the company navigates the evolving regulatory landscape, analysts remain optimistic about its future prospects and market positioning.
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