Rush Street Interactive Closes This Year’s Third Gambling SPAC Merger
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Rush Street Interactive, the online gambling arm of casino operator Rush Street Gaming, finalized its combination with dMY Technology Group on Tuesday and went public on the New York Stock Exchange the following day. The company was founded in 2012 in anticipation of new regulations permitting online casino-style gaming in a number of states. It launched its first gaming site in New Jersey in 2016 and has since launched both online casinos and sports betting products in five more states and in Colombia.
Rush Street Interactive will merge with dMY to create a new company. The company has the best product offering, the most proprietary technology platform and the customer service. Three SPAC mergers will close in 2020. Online gambling was one of the hot SPac markets this year. Gambling executives saw SPacs as a quick way to get their businesses to market.
