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Following Gambling911.com's shock report that Rush Street Interactive's BetRivers plans to cease its affiliate program in states where it currently operates, World Series of Poker record bracelet holder Phil Hellmuth announced he had sold all his shares in the company, all 165,000 of them.
On Tuesday, Gambling911.com broke the story that Rush Street would be cutting off all its affiliates come August 31, 2024. The company did not explain why but the news left BetRivers partners shell shocked.
Gamblers immediately put two and two together and took to Twitter to question how this news might affect them. We still don't know as Rush Street Interactive has made no mention of pulling out of some or all U.S. states.
The email sent out to affiliates has since been obtained by Gambling911.com. Of note, there is no mention of affiliate business in Pennsylvania being shuttered. BetRivers maintains a strong foothold in the Keystone State as well as Illinois, which is mentioned specifically.
It's not immediately clear what prompted Hellmuth to sell his shares.
"Today I sold all of my shares (165,000 shares) of $rsi stock at $10 a share. I still believe in @RSInteractive_, but I’m afraid of macro economics conditions. The SandP 500 seems overvalued to me: boats rise and fall w the level of the water,…"
This is NOT investment advice.
— phil_hellmuth (@phil_hellmuth) July 30, 2024
Today I sold all of my shares (165,000 shares) of $rsi stock at $10 a share. I still believe in @RSInteractive_, but I’m afraid of macro economics conditions. The SandP 500 seems overvalued to me: boats rise and fall w the level of the water,…
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