SCHEDULE 13G/A: BlackRock Discloses 5.9% Stake in Rush Street Interactive Class A Stock

BlackRock, Inc. has filed an amended Schedule 13G, reporting a 5.9% beneficial ownership stake in Rush Street Interactive, Inc.'s Class A Stock as of March 31, 2025.

Summary

• BlackRock, Inc. reported beneficial ownership of 5,613,392 shares of Rush Street Interactive, Inc.'s Class A Stock.
• This ownership represents 5.9% of the total outstanding Class A Stock.
• The filing, Amendment No. 4 to Schedule 13G, was submitted on April 17, 2025, reflecting ownership as of March 31, 2025.
• BlackRock holds sole voting power over 5,534,868 shares and sole dispositive power over 5,613,392 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. It's a routine ownership disclosure, but BlackRock maintaining a significant stake can be seen as a positive signal of confidence in the company's long-term prospects, even if passive.

Positives

• BlackRock's continued significant stake (5.9%) in Rush Street Interactive, Inc. indicates ongoing confidence from a major institutional investor.
• The filing explicitly states that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a passive, long-term investment approach.

Future Outlook

This Schedule 13G filing does not contain forward-looking statements or guidance regarding Rush Street Interactive, Inc.'s future performance or BlackRock's future investment intentions beyond the statement that shares are held in the ordinary course of business.

Management Comments

• The filing includes a certification by Spencer Fleming, Managing Director of BlackRock, Inc., stating that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing reflects a routine disclosure by a major institutional investor, BlackRock, Inc., regarding its passive ownership stake in Rush Street Interactive, Inc., an online casino and sports betting company. Such disclosures are common in the investment management industry and provide transparency on significant holdings, without necessarily indicating a change in broader industry trends or the competitive landscape.

Comparison to Industry Standards

• As a Schedule 13G filing, this document primarily serves as a regulatory disclosure of beneficial ownership by a large institutional investor. It does not provide financial or operational results for Rush Street Interactive, Inc. that would allow for a direct comparison to industry standards or specific comparable companies like DraftKings, FanDuel (Flutter Entertainment), or BetMGM (MGM Resorts International/Entain). The filing simply confirms BlackRock's passive investment stake, which is a standard practice for asset managers holding significant positions across various industries.

Stakeholder Impact

• Shareholders: Provides transparency on a major institutional investor's stake, potentially reinforcing confidence.
• Management: Awareness of a significant passive institutional holder.

Next Steps

• The document does not specify any future actions or milestones for Rush Street Interactive, Inc. or BlackRock beyond the ongoing holding of shares in the ordinary course of business.

Key Dates

Keywords

BlackRock, Rush Street Interactive, RSI, Schedule 13G, Beneficial Ownership, Class A Stock, Institutional Investor, SEC Filing, Investment Management