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Earlier in the month, on January 7, Sauers acquired 486,718 shares of common stock following the vesting and settlement of performance stock units. These shares were valued at $14.20 each, totaling approximately $6.91 million. Additionally, 192,166 shares were withheld to cover taxes, valued at around $2.73 million. After these transactions, Sauers now holds 433 shares directly. InvestingPro subscribers can access 14 additional key insights about RSI, including detailed analysis of its financial health, growth prospects, and comprehensive valuation metrics in the Pro Research Report. InvestingPro subscribers can access 14 additional key insights about RSI, including detailed analysis of its financial health, growth prospects, and comprehensive valuation metrics in the Pro Research Report.
Earlier in the month, on January 7, Sauers acquired 486,718 shares of common stock following the vesting and settlement of performance stock units. These shares were valued at $14.20 each, totaling approximately $6.91 million. Additionally, 192,166 shares were withheld to cover taxes, valued at around $2.73 million. After these transactions, Sauers now holds 433 shares directly.
In other recent news, Rush Street Interactive (RSI) has reported a record-breaking third quarter in 2024, with revenues surging to $232 million, marking a 37% increase year-over-year. The company's adjusted EBITDA also saw a significant rise, reaching $23 million, more than five times the figure from the previous year. This marks RSI's 15th consecutive period of revenue increase since its public debut.
In light of these strong results, RSI has revised its 2024 revenue guidance upwards by 3% and its EBITDA guidance by a substantial 24%. The company now expects EBITDA to be 110% above initial expectations for the year. Additionally, RSI announced a share buyback program of up to $50 million and reported a strong cash position with $216 million in unrestricted cash and no debt.
The company is also exploring expansion into new markets, with a focus on Latin America and Canada, and is open to potential acquisitions. Despite facing challenges with low hold rates in North American sports betting and potential regulatory risks, RSI remains optimistic about iGaming legalization momentum in various states. These recent developments underline RSI's robust financial health and its strategic plans for continued growth.
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