Midway also acquired the rights to video games that were originally developed by Williams Electronics and Atari Games, such as Defender, Joust, Robotron 2084, Gauntlet, and the Rush series. Midway's franchises included Mortal Kombat, Rampage, Spy Hunter, NBA Jam, Cruis'n, and NFL Blitz. ( CNTY ).Midway Games Inc., known previously as Midway Manufacturing and Bally Midway, and commonly known as simply Midway, was an American video game developer and publisher. ( GDEN ), Boyd Gaming Corporation ( BYD ), and Century Casinos, Inc. So, one might want to consider investing in the following Entertainment – Casinos/Gambling stocks with an A (Strong Buy) rating: Golden Entertainment, Inc. RSI has an overall POWR Rating of D, which equates to a Sell rating. How Does Rush Street Interactive (RSI) Stack Up Against its Peers? So, we think it could be wise to avoid the stock now. In addition, analysts expect its EPS to remain negative this year and next year. However, with growing competition in the industry and RSI’s weak profitability, its near-term prospects look bleak. RSI is ranked #24 of 32 stocks in the Entertainment – Casinos/Gambling industry.Īs sports betting legalizations continue to increase, RSI could continue to attract increased investors’ attention. In addition to the POWR Rating grades I’ve just highlighted, we have also rated RSI for Value, Momentum, Sentiment, and Quality. The stock has a D grade for Growth, which is consistent with analysts’ expectations that its EPS will decline 1,000% for the quarter ending December 31, 2021, and 3,100% in fiscal 2021. Among these categories, RSI has an F grade for Stability. Our proprietary rating system also evaluates each stock based on eight distinct categories. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree. RSI has an overall D rating, which equates to Sell in our POWR Ratings system. Also, its adjusted EBITDA came in at a $6.61 million loss f in the quarter, versus a $3.68 million gain in the year-ago period. Its adjusted loss per share was $0.04 compared to $0.12 in the prior quarter. However, its net loss came in at $3.77 million versus $50.59 million in the year-ago period. In addition, its real-money monthly active users (MAUs) in the United States increased 128% year-over-year. RSI’s revenue increased 88.8% year-over-year to $122.80 million for the second quarter ended June 30, 2021. ( DKNG ) has announced that it would be acquiring Golden Nugget Online Gaming, Inc. ( PENN ) announced that it would be acquiring Score Media and Gaming Inc. For example, last month, Penn National Gaming, Inc. Many companies have been making deals to enter the industry. While this could bode well for RSI, it also suggests increased competition. According to a Research & Markets report, the online gambling sector is expected to grow at an 11.6% CAGR to $92.9 billion by 2023. Sports betting and online gaming activities have skyrocketed amid the COVID-19 pandemic, with several players vying for a share in the growing industry. Increasing Competition in the Betting Space Here are the factors that could shape RSI’s performance in the coming months: So, RSI’s near-term prospects don’t look very promising. In addition, hedge fund interest in the stock declined recently. The company reported losses in the second quarter. Hence, RSI could also be negatively impacted. In addition, according to a CFO Dive report, SPAC IPOs plunged 87% during the second quarter. According to data from Woodruff Sawyer, shareholder lawsuits against post-merger SPACs rose to 15 through the first half of 2021, tripling from just five in 2020. Moreover, SPACs are subject to increased scrutiny from regulators. However, RSI faces intense competition from other players in the budding industry. However, the stock has declined nearly 11% year-to-date.īecause the NFL season is now in full swing, sports betting stocks like RSI are expected to attract increased investor attention. ![]() Also, RSI-operated and launched their own branded live-casino studios for Pennsylvania and New Jersey players earlier this month. On September 20, for example, RSI became the exclusive official sports betting partner of Magic City Jai-Alai. ![]() ![]() The stock has gained 59.7% in price over the past month to close yesterday’s trading session at $19.28, thanks to a series of positive developments for the company. ( RSI ) made its stock market debut last December, going public via special purpose acquisition company (SPAC) dMY Technology Group, Inc. ![]() Online casino and sports betting company Rush Street Interactive, Inc.
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