Casino Tycoon Neil Bluhm Expands Empire with dMY Technology Group Merger
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The Covid-19 pandemic has boosted the growth of the online gambling industry. It is set to put the legalization of sports betting across the USA on a fast track.
Chicago billionaire Neil Bluhm added another $1 billion to his fortune following the merger between Rush Street Interactive and dMY Technology Group on December 30. Rush St. Interactive is an online casino and sports betting operator co-founded by Blahum and his business partner Greg Carlin in 2012. RSI is one of the fastest-growing online casinos and gaming companies in the United States.
Neil Bluhm's net worth is estimated at $6.3 billion. He owns a 54% stake in RSI worth $2.2 billion and a real estate portfolio from California to Chicago worth about $1.5 billion, and small stakes in Chicago Bulls and Chicago White Sox. His business partner Carlin's stake is worth around $720 million.
RSI's revenue in Q3 surged by 370% year-over-year to reach $78.2 million. RSI is present in nine US states and Colombia.
"This is the most exciting and fastest-growing business I have been involved in. Internet gaming was not allowed and sports betting wasn't legal until a few years ago until the Supreme Court legalized it.
