RSI Q2: Revenue rises 22% to $269.2m

Key points:  

– RSI has reported revenue rises of 22% and 19.4% for Q2 and H1, respectively 

– The operator has also recovered turned over net profits from the losses recorded last year 

– RSI has now officially raised its FY 2025 financial guidance in the wake of these latest financials  

Rush Street Interactive (RSI) has released its full Q2 & H1 2025 financial report, highlighting a year-on-year revenue rise of 22% during the second quarter to $269.2m, with H1 revenue settling at $531.6m.  

Indeed, this revenue figure for the first half of the calendar year also represents a healthy upswing of 19.4% in comparison to the same period of 2024. Elsewhere, the net losses recorded over both Q2 & H1 2024 have both been recovered, with positive profit figures being reported for both periods of this calendar year.  

RSI Q2 results  

During the year’s second quarter, RSI’s 22% revenue upswing was eclipsed by an 88% rise in EBITDA year-on-year, which settled at $40.2m. Elsewhere, the operator also managed to recover its net loss of $0.3m in Q2 2024 to a net profit of $28.8m during this latest quarter – with adjusted sales and marketing expenses remaining flat at $36.2m.  

RSI has also confirmed a record quarterly average revenue per monthly active user of $391 in the US and Canada this quarter, this metric’s highest record since the company went public. Monthly active users in the US and Canada were also on the rise, up 21% year-on-year to 197,000 and up 42% year-on-year to 403,000 in LatAm.  

RSI H1 results  

Regarding H1 2025 statistics, the $531.6m revenue figure indicates that the company will likely surpass the $1bn revenue mark during FY 2025 – meeting previously highlighted expectations. 

Elsewhere adjusted EBITDA figures were subject to a sizeable increase of 62.5% year-on-year during the first half of 2025, settling at $73.5m, with net income also recovering from last year’s loss of $2.5m to a positive $40m figure. Operating costs were, however, also on the rise – with H1 expenses reaching $492.4m, up from the $432.1m recorded during the first half of the prior year.  

In the wake of these latest results, RSI has now officially raised its FY 2025 financial guidance, with revenue now expected to be $1.05bn – $1.1bn and adjusted EBITDA expected to reach between $133m and $147m.  

2025 highlights  

So far this year, RSI has undergone several partnership initiatives – beginning the year in January by collaborating with the Swinomish tribe on the release of the BetRivers sportsbook platform in Washington state. In March, the operator also brokered a partnership extension deal with Inspired across much of LatAm and the US state of Delaware.  

More recently, in June, RSI launched a multi-state BetRivers Poker Network via its sportsbook platform in Pennsylvania, Delaware, Michigan and West Virginia. 

Good to know: RSI’s Q2 revenue figure slightly outpaces the $262.4m reported during Q1 2025 by the operator 

CEO’s comments   

Speaking on these latest results, RSI CEO, Richard Schwartz, said: “I’m excited to report that we’ve delivered another exceptional quarter with records across the board, marking our 9th 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.”