Hard Rock could gain access in Michigan through RSI sale

Article by : Charles Perrin Mar 28, 2024

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Hard Rock could expand its casino footprint into Michigan as Rush Street Interactive mulls over the prospect of selling up.

RSI, the Chicago-based iGaming giant which owns the BetRivers and SugarHouse brands, reportedly reached out to multiple suitors last week over a potential sale, including DraftKings.

That said, RSI has been rather cagey over the rumors, refusing to confirm or deny the supposed interest.

But one name that could come into contention, although is yet to land in Michigan, is Hard Rock.

Indeed, Hard Rock could throw its hat into the ring, and there are a couple of possible avenues it could explore to make it happen.

888Holdings announced its split with Sports Illustrated earlier this month as it shut down its casino and sports operations, putting one of the sought-after Michigan licenses up for grabs.

Hard Rock is believed to be clamoring for the rights to gain entry, but at the moment, there are only 15 Michigan online casino and sportsbook operators functioning, meaning that trying to obtain a license comes at a premium.

Online Michigan casino data revals that BetMGM is the market leader with a 34% share, while BetRivers ranks fourth with 6.3%.

The other way that Hard Rock could pivot is by taking over RSI and inheriting BetRivers’ online casino and sportsbook product.

Although an eminently more expensive option, this could bolster Hard Rock’s presence even if DraftKings may use Hard Rock’s prospective growth opportunity to leverage its own position and stymie Hard Rock’s progress.

Were Hard Rock to be successful in its bid, Michigan would become the second state to house a Hard Rock online casino after New Jersey.

The RSI sale is likely to prompt plenty of interest, but Hard Rock shouldn’t be discounted from the running just yet.