Rush Street Interactive stock jumps on another quarter of record KPIs
Operator marks nine consecutive quarters of increased revenue while raising its full-year guidance for revenue and adjusted EBITDA
Rush Street Interactive (RSI) shares leapt 15% on the back of $269.2m in reported Q2 revenue, marking yet another new quarterly high for the casino-first online operator.
The figure represents a 22.1% increase when compared to the corresponding period in 2024, edging out the previous record of $262.4m achieved in Q1.
Online casino revenue surged 25% year over year (YOY), while online sports betting revenue grew 15%.
Adjusted EBITDA for the quarter almost doubled YOY, climbing 88% to $40.2m, with the rate of growth setting another company record.
The operator, which is behind the BetRivers and PlaySugarHouse brands, revealed that monthly active users (MAUs) in the US and Ontario amounted to nearly 197,000, up 21% YOY.
MAUs in Latam, including Mexico, a region where RSI operates RushBet, rose 42% YOY to approximately 403,000.
In terms of average revenue per monthly user (ARPMAU), it was $391 for the US and Ontario, representing “a new quarterly high since becoming a public company”.
When looking at Latam, ARPMAU was $30, down from $38 the previous year.
Management attributed this to its bonusing strategy in Colombia in response to the temporary VAT tax established in the country.
RSI opted for higher bonusing there after leftist Colombian president Gustavo Petro introduced an emergency 19% tax on player deposits.
Looking at H1, revenue increased 21.4% YoY to $531.6m, while adjusted EBITDA was $73.5m, up from $38.5m in H1 2024.
Net income for the six months to 30 June amounted to $40m, as opposed to a $2.5m loss last year.
As a result, full-year guidance for revenue has been raised to between $1.05bn and $1.1bn, while adjusted EBITDA has been updated upwards to between $133m and $147m.
RSI CEO Richard Schwartz said: “I’m excited to report that we’ve delivered another exceptional quarter with records across the board, marking our ninth consecutive quarter of improving both revenue and adjusted EBITDA from the preceding quarter.
“Our impressive record adjusted EBITDA growth of 88% year over year was driven by strong, broad-based performance across our business, with online casino revenue growing 25% and online sports betting up 15%.
“The consistency and strength of our business model is evident in our results, particularly in North American markets that include online casino, where we saw monthly active user growth exceeding 30%.
“Our strategic focus on markets where we can deploy our full suite of gaming offerings continues to drive exceptional performance and maximize player value.”
RSI shares are trading at $18.31, at the time of writing.