BlackRock Doubles Down on BetRivers Parent Rush Street Interactive, Now Holds 13.3% Stake

BlackRock has more than doubled its stake in Rush Street Interactive over the past 15 months, according to an amended SEC filing showing the asset management giant now holds 13.3% of the company behind the BetRivers sportsbook and casino brand. The Schedule 13G/A amendment, signed July 8 by BlackRock Managing Director Spencer Fleming, reports beneficial ownership of 13,825,679 Class A shares as of June 30.

The filing shows BlackRock holds sole voting power over 13,664,456 of those shares and sole dispositive power over the full 13.8 million-share position. The document also names iShares Core S&P Small-Cap ETF, a BlackRock-affiliated fund, as another entity holding more than 5% of Rush Street Interactive’s common stock, underscoring how much of the growing stake flows through index and passive investment vehicles rather than active stock-picking.

A Steadily Growing Position

BlackRock’s rising ownership reflects a broader institutional appetite for regulated U.S. gaming operators as the sector matures beyond its early growth-at-all-costs phase. Rush Street Interactive has built its reputation on a more measured approach to market expansion compared to larger rivals like DraftKings and FanDuel, focusing on profitability in established states rather than aggressive nationwide promotional spending. That strategy has made the company an increasingly attractive target for institutional capital looking for exposure to online gaming without the volatility associated with companies still burning cash to chase market share.

Schedule 13G filings, unlike the more restrictive 13D filings, indicate passive investment intent rather than an effort to influence company management or pursue a controlling stake. Even so, a position exceeding 13% makes BlackRock one of the largest shareholders in Rush Street Interactive, giving the firm significant sway in shareholder votes even without any stated activist agenda.

What It Means for Rush Street Interactive Going Forward

The growing institutional interest comes as Rush Street Interactive continues to expand its footprint across newly regulated states while fending off competition from both established sportsbooks and the wave of prediction market platforms now encroaching on the broader betting and gaming landscape. BetRivers has positioned itself as a mid-market alternative to the industry’s biggest spenders, and sustained institutional buying suggests Wall Street sees value in that positioning.

Whether BlackRock continues adding to its position remains to be seen, but the steady climb over the past 15 months signals growing confidence in Rush Street Interactive’s long-term trajectory. Bettors weighing where BetRivers stacks up against the competition can check our BetRivers Casino Review or browse the latest BetRivers Promo Code offers. As more legacy financial institutions build exposure to regulated online gambling operators, filings like this one offer a window into how mainstream the sector has become among asset managers who, a decade ago, largely steered clear of gaming stocks altogether.