Welcome to our dedicated page for Rush Street Interactive news (Ticker: RSI), a resource for investors and traders seeking the latest updates and insights on Rush Street Interactive stock.
Rush Street Interactive, Inc. (NYSE: RSI) is a prominent player in the online gaming and sports entertainment industry, specializing in online casinos and sports betting. Founded in 2012 and headquartered in Chicago, Illinois, Rush Street Interactive has established itself as a trusted provider in both the United States and Latin American markets.
RSI offers a diverse range of gaming options, including real-money online casinos, online sports betting, and retail sports betting. Additionally, the company caters to the growing demand for social gaming, providing free-to-play games that utilize virtual credits. RSI’s revenue model is driven by both business-to-consumer (B2C) and business-to-business (B2B) operations, making their comprehensive suite of products accessible through their websites and mobile apps.
In recent developments, Rush Street Interactive has made significant strides in expanding its market presence. Notable achievements include a partnership with Evolution to enter the Delaware market, enhancing the company's game offerings with online slots from brands such as NetEnt, Red Tiger, and Big Time Gaming. This collaboration highlights RSI's commitment to meeting the expanding demands of the U.S. market.
The company has also ventured into the sports arena with a title sponsorship for the NASCAR Xfinity Series Dash 4 Cash race at Dover Motor Speedway. This marks a historical moment as it allows fans in Delaware to place mobile sports wagers during the event. The partnership underscores RSI's dedication to delivering top-tier entertainment experiences and supporting local communities.
Financially, RSI has shown resilience and adaptability. The company's latest financial reports indicate continued growth, with adjustments for non-GAAP financial measures providing a clearer picture of their operational performance. RSI’s ability to innovate and adapt has earned them multiple industry accolades, including the 2023 EGR North America Awards Customer Services Operator of the Year and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year.
Rush Street Interactive continues to drive forward, leveraging strategic partnerships and technological advancements to maintain its position as a leader in the online gaming and sports betting industry. For more information and updates, visit www.rushstreetinteractive.com.
Rush Street Interactive (RSI) reported a 27% increase in Q4 revenue to $165.5 million and a 21% rise in full-year 2022 revenue to $592.2 million. The company anticipates revenue for 2023 between $630 million and $700 million, representing a 12% increase year-over-year. Despite a net loss of $31.1 million in Q4 2022, improved Adjusted EBITDA losses were noted. Monthly Active Users (MAUs) grew 22% year-over-year, with an average revenue per user (ARPMAU) of $327. RSI aims for positive Adjusted EBITDA in the latter half of 2023, focusing on customer loyalty and market investments.
Rush Street Interactive (NYSE: RSI) announces the launch of a new 'Basketball Squares' game for NBA bettors, following the success of its NFL counterpart. This innovative wagering feature allows players to win up to $10,000 in bonus money. Bettors can acquire standard squares at no charge with wagers of $20 and more, and can win $20 for a standard winning square. Enhanced engagement is anticipated due to the dynamic scoring nature of NBA games. RSI operates in multiple U.S. states and international markets, promoting a responsible gaming environment.
Rush Street Interactive (RSI) announced it will release its fourth quarter and year-end 2022 results after the market closes on March 1, 2023. Following the release, an earnings conference call will take place at 5:00 PM ET to discuss the results. The earnings press release and related materials will be accessible on RSI's investor relations website. RSI operates in the online gaming sector across various jurisdictions including the U.S., Canada, and Latin America, offering popular mobile casino games and sports betting. It was recognized with several awards in 2022 for excellence in the industry.
ODDSworks, a leader in Remote Gaming Server technology, has partnered with Rush Street Interactive (RSI) to deploy its BETguard™ Remote Gaming Server platform in Pennsylvania. This collaboration marks ODDSworks' entry into the Pennsylvania i-Gaming market and enhances RSI's BetRivers mobile and online offerings. The partnership reflects ongoing efforts to expand operations as ODDSworks plans to enter New Jersey next. The BETguard™ platform processes over $2 billion annually in wagering, showcasing ODDSworks' commitment to delivering quality gaming content.
Rush Street Interactive (NYSE: RSI) reported a successful launch of its 'Squares' betting game, with 11 players winning the maximum prize of $10,000 since its introduction in mid-December 2022. The game enhances the betting experience on NFL and college games by offering additional opportunities for winnings without extra costs. Players earn squares through their existing bets, with potential payouts on winning squares ranging from $20 to $10,000. CEO Richard Schwartz noted the game's popularity among both novice and experienced bettors. RSI plans to extend Squares promotions for upcoming NFL conference championship games and the Super Bowl.
Rush Street Interactive (NYSE: RSI) is set to launch its award-winning BetRivers.com sportsbook for online and mobile wagering in Ohio starting January 1, 2023. Ohio residents aged 21 and over can utilize the platform to place bets on various sports, including the NFL and NCAA. Key features include multi-game same-game parlays, live streaming, and a robust loyalty program. To celebrate, BetRivers is offering a $500 Second-Chance Bet Promotion for new players. RSI emphasizes trust and player experience through its innovative betting options and customer service.
Rush Street Interactive (RSI) has inaugurated two new offices in Bogota and Medellin, Colombia, enhancing its presence in Latin America. The Bogota office spans 8,000 square feet, serving as the headquarters for the region, featuring innovative designs that reflect the gaming culture. The Medellin office is a tech hub aimed at leveraging local talent, supported by the government's 'Valle de Software' initiative. These expansions align with RSI's strategic growth plans in Colombia and Mexico, showcasing the company's commitment to local investment and community engagement.
Rush Street Interactive, Inc. (NYSE: RSI) reported a robust third quarter revenue of $148 million, marking a 20% increase year-over-year and achieving fourteen consecutive quarters of sequential revenue growth. However, the company faced a net loss of $22.7 million, up from a net loss of $18.9 million in Q3 2021. The Adjusted EBITDA loss was $12.5 million. The company anticipates full-year revenue between $580 million and $600 million by year-end, despite currency challenges.
MAUs grew 31% year-over-year reaching 130,000, with average revenue per MAU at $345.
Rush Street Interactive (NYSE: RSI) will release its third quarter 2022 results on November 2, 2022, after market close. A conference call will be held at 5:00 PM ET to discuss the results. Interested parties can access the earnings press release and materials on ir.rushstreetinteractive.com. The company operates in the U.S., Canada, and Latin America through brands like BetRivers and PlaySugarHouse, providing real-money mobile and online gaming in thirteen U.S. states.
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