Rush Street Interactive’s Q3 revenue increases 15%

Revenue for the quarter was $169.9m.

US.- Rush Street Interactive (RSI) has announced financial results for the quarter ending on September 30, 2023. Revenue was $169.9m, an increase of 15 per cent compared to $148m during the third quarter of 2022.

The net loss was $13.4m during, compared to a net loss of $22.7m in Q3 2022. Adjusted EBITDA was a positive $4.1m compared to a loss of $12.5m in the same period last year. Adjusted advertising and promotions expenses were $34.1m, compared to $44.7m during the third quarter of 2022.

Richard Schwartz, chief executive officer of RSI, said: “Thanks to our decade-long investment in cutting-edge technology and a customer-centric approach, we’ve positioned ourselves as a top five online operator in the U.S., with a leading position in iGaming and a growing online sports book. As discerning consumers seek out the best products and user experiences, our third quarter results affirm our ability to deliver on both counts as we continue to acquire, engage and retain customers.”

“With strong revenue growth and more efficient marketing spend, we are proud to report another quarter of increasing quarterly profitability on an adjusted EBITDA basis as well as our expectation to have positive Adjusted EBITDA for the full year, underscoring our commitment to sustainable growth and profitability. Our focus on innovation and efficiency has elevated our market-leading ROI enabling us to navigate competitive markets with remarkable success and resilience. As we look ahead to new opportunities in North America and Latin America, we remain optimistic and excited about the path that lies ahead.”

In August, RSI was selected by the Delaware State Lottery as its vendor for the state’s online gaming business. RSI will provide state-of-the-art online gaming in Delaware for an initial term of 5 years, renewable for an additional 1-year term for an additional 5 years pending regulatory approvals.