Published
OnlineCasinoFinancialSports Betting

Rush Street Interactive posts 20% increase in Q3 revenue

Rush Street Interactive (RSI) has reported revenue of $148m for the third quarter of 2022, a 20% increase compared to $122.9m in the third quarter of 2021.

rsi q3
Listen To Article

Adjusted EBITDA for the period was negative $12.5m, compared to negative $12.2m in the prior-year period. Net loss for Q3 2022 was $22.7m, compared to a net loss of $18.9m during Q3 2021.

“We posted a solid third quarter, as our efficient approach to marketing and robust platform continue to perform well,” said RSI CEO Richard Schwartz.

“Despite a lower than normal online casino hold rate and currency headwinds during the quarter, which we believe collectively impacted our quarterly revenue by an estimated $6m, we generated record revenues for the fourteenth straight quarter and progressed towards our profitability goals and our target of being Adjusted EBITDA positive for the second half of 2023.”

RSI noted that Real-Money Monthly Active Users in the US and Canada for Q3 2022 grew 31% to 130,000, while unrestricted cash and cash equivalents on the balance sheet were $195m with no debt outstanding as of 30 September 2022.

Schwartz continued: “In terms of activity, we continue to see very strong volumes in markets where we operate both online casino and sports betting, as we are able to execute on the enhanced profitability offered by the online casino vertical in these markets. 

“Internationally, we are seeing strong results from both Colombia and Ontario and we are excited to begin increasing marketing efforts in Mexico. We remain focused on building a strong foundation in our new markets that will provide stable, long-term growth opportunities while keeping an eye on future profitability.”

Premium+ Connections
Premium

Lynon

 
Premium

Sport Generate

 
Premium

Revsharks

 
Premium

Galaxsys

 
 
Premium

GammaStack

 
Premium

RISK

 
Premium

Digitain

 
Premium

PIN-UP Partners

 
Premium

1xBet Partners

 
Premium

Imagine Live

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...