Phil Galfond Sells Run It Once for $5.8 Million, Eyes US Market

Phil Galfond has sold his online poker platform Run It Once to Rush Street Interactive for $5.8 million. The deal, which was finalized late last year, includes $3.3 million in cash and $2.5 million in RSI shares. Galfond will stay on board to help launch Run It Once in the US market.

Rush Street Interactive, the online arm of Rush Street Gaming, operates several physical casinos and already offers online poker and sports betting through their brands PlaySugarHouse.com and BetRivers.com. The acquisition of Run It Once is seen as a strategic move to strengthen their online poker presence in the US.

Although a specific launch date and location have not been announced, Pennsylvania is considered a likely market for the launch. Rush Street Interactive's BetRivers brand has a significant presence in Pennsylvania, both online and in physical locations. New Jersey and Michigan are also potential launch markets, but other states are less likely due to market size or licensing issues.