Rush Street Interactive revenues soar in Q3

The company reported revenues of $78.2m in its third-quarter.
The company reported revenues of $78.2m in its third-quarter.

The company’s third-quarter revenues grew by 370 per cent compared with the same period last year.

US.- Online casino and sports betting provider Rush Interactive has released its third-quarter report, showing huge gains in revenue.

The company reported a total of $78.2m for the period ending September 30, up 370 per cent from the $16.7m earned during the same period in 2019.

The reports also showed a comprehensive loss of $28.1m, compared with $9.7m last year.

Advertising and promotions expenses increased substantially, from $9.9m in 2019 to $17.5m this year. Real money active users in the US went up by 135 per cent year-on-year.

Chief executive officer Greg Carlin said in a statement:  “Solid execution and financial discipline helped drive our third-quarter success.

“As we move toward completing a transformational year for RSI, we have built a strong technological and operational foundation that we expect will continue to serve us well as we expand into new markets.

“We are excited to be on the path to becoming a publicly listed company and expect that our customer acquisition strategy and growing market share will create sustainable long-term value for our shareholders.”

During the Covid-19 pandemic, online gaming and sports betting has been on the rise across various states in the US. Nevada reported a total handle of $659.6m in October, beating the previous record set in the state.