Rush Street Interactive, Inc. (NYSE:RSI), a leader in online casino and sports betting with a market capitalization of $3.39 billion, announced the planned departure of its Chief Information Officer, Einar Roosileht. The company has shown remarkable performance, with a 230% return over the past year. According to InvestingPro analysis, RSI appears to be slightly undervalued based on its Fair Value assessment, with 16 key insights available for subscribers. The mutually agreed separation will take effect no later than December 31, 2025, as disclosed in the company’s recent SEC filing.
Mr. Roosileht will remain in his role until an appropriate successor is appointed and the transition is complete. The company has not cited any disagreements leading to this decision and has initiated a comprehensive search for Mr. Roosileht’s replacement through a global executive search firm.
Under the terms of the separation, Mr. Roosileht will continue to receive his current compensation and may be eligible for a prorated annual bonus based on performance criteria. His outstanding restricted stock units and stock options will vest as scheduled until the end of 2025. Additionally, Mr. Roosileht has agreed to standard confidentiality, non-compete, and non-disparagement clauses, along with a 12-month lockup period on certain equity holdings post-departure.
The company’s 8-K filing, dated January 14, 2025, and filed with the SEC on January 17, 2025, outlines the terms of Mr. Roosileht’s departure. Rush Street Interactive is headquartered in Chicago, Illinois, and operates under the gaming and recreation industry classification. The company maintains strong financial health with a current ratio of 1.71 and has demonstrated impressive revenue growth of 30.31% over the last twelve months.
In other recent news, Rush Street Interactive (RSI) has seen significant financial growth, as illustrated by its record-breaking third quarter in 2024. The company reported revenues of $232 million, marking a 37% increase from the previous year, and adjusted EBITDA jumped to $23 million, a more than fivefold rise year-over-year. These strong results led RSI to raise its 2024 revenue guidance by 3% and its EBITDA guidance by a substantial 24%.
RSI’s growth has been recognized by Needham analysts who recently reiterated a Buy rating on the company’s shares and increased their price target to $17. This adjustment was based on a 20x multiple of the next twelve months’ enterprise value to adjusted EBITDA and reflects the analysts’ confidence in RSI’s ability to navigate the current market.
RSI’s CEO Richard Schwartz and CFO Kyle Sauers have discussed the company’s strategic positioning, highlighting its optimistic outlook on the iGaming regulatory environment. The company expects to benefit substantially from any potential regulatory changes.
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