Rush Street Interactive (RSI), the online arm of Chicago-based Rush Street Gaming that operates the BetRivers and BetSugarHouse online casinos, has acquired the popular TV program Poker Night in America in a cash-and-stock transaction valued at $4.9 million.
The show, which airs nationally on the CBS Sports Network, broadcasts cash games from around the world. It is produced by Rush Street Productions, another subsidiary of the Chicago operator and a sister company to RSI.
Richard Schwartz, the CEO of RSI, told the news site Pokerfuse that the acquisition complements RSI’s recent acquisition of the Run It Once Poker (RIO) team last March in a $5.8 million deal. RIO produces training videos and software used to master the game of poker.
In a second-quarter earnings call, Schwartz talked about the acquisition and said poker will eventually be added to RSI’s online casinos.
“I’m excited to let you know we recently completed the acquisition of Poker Night in America, a leading content provider of live and recorded poker tournaments and events,” Schwartz said. “Poker Night has a strong following and a deep library of poker TV content and media creation capabilities that will help to further build out the BetRivers network and engage our target audience on an ongoing basis.
“Recall that two quarters ago, we also purchased an online poker platform. Together, these two tuck-ins will position us well for when we eventually launch online poker and the associated strong cross-sell opportunities that poker will bring to our casino and sportsbook verticals.”
Schwartz said the Poker Night acquisition was funded with about $2.2 million in cash and $2.7 million of RSI stock. “We don’t expect this acquisition to have any near-term impact on either revenues or profitability, but rather it will serve as a growth enabler for our business,” he said.
