It is a big week for gaming companies and the stock market, as Rush Street Interactive, Inc., and Esports Technologies, Inc., each were added to multiple Russell Indexes.
Esports Technologies was added to the broad-market Russell 3000 Index and the Russell Microcap Index, effective June 28.
RSI on Tuesday said it was added to the Russell 2000 Index and Russell 3000 Index on June 25.
Esports Technologies previously was listed on Nasdaq, while RSI is on the NYSE.
Russell Indexes are part of FTSE Russell, a global index provider. They are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies.
According to FTSE Russell, approximately $10.6 trillion in assets are benchmarked to, or invested in, products based on the Russell US Indexes.
The 33rd Annual Russell Reconstitution captured the 4,000 largest US stocks as of May 7, ranking them by total market capitalization. FTSE Russell said it determines membership for its Russell US Indexes primarily by objective, market-capitalization rankings and style attributes.
“We have been very pleased with the interest Esports Technologies has received from the investor community since our listing on the Nasdaq in April,” Aaron Speach, CEO of Esports Technologies, said in a statement. “Being included in the Russell US indexes is yet another validation of our efforts to build shareholder value.”
Greg Carlin (pictured), CEO of RSI, added, “We are excited about RSI’s inclusion in the Russell 2000 and Russell 3000 indexes, as it represents another positive step in the evolution of our company. As a part of the Russell indexes, we look forward to improved stock liquidity, as well as increased interest from institutional investors.”
