Interactive
Rush Street increases by 34 per cent in first quarter with growth in Mexico and North America
By Phil - 2 May 2024
Rush Street Interactive enjoyed a stellar start to the year with first quarter revenue of $217.4m, up 34 per cent compared to $162.4m during the first quarter of 2023.
Monthly Active Users (MAU) in the United States and Canada were approximately 176,000, up 20 per cent year-over-year. MAUs in Latin America (which includes Mexico) were approximately 224,000, up 72 per cent year-over-year.
Average Revenue per Monthly Active User (ARPMAU) in the United States and Canada was $355 during the first quarter of 2024, up nine per cent year-over-year. ARPMAU in Latin America was $43, up four per cent year-over-year.
Richard Schwartz, Chief Executive Officer of RSI, said, “We are extremely pleased with our record first quarter results achieving company quarterly record Revenues and Adjusted EBITDA of $217m and $17 million, respectively. This was accomplished by growing both our iCasino and Online Sports businesses by over 35% year-over-year, in large part by acquiring new players more efficiently while simultaneously increasing the number and value of our users. Our team is proud to have achieved these results, which stemmed from our long-standing, unwavering commitment to prioritize the quality of our product and customer experience.”
“We are very excited about the opportunity to continue to scale the business and drive growth on the back of our current momentum, which includes increasing our Adjusted EBITDA guidance by 38 per cent at the midpoint. With this growth and scale comes improving earnings and free cash flow. Looking forward, we remain energised in our view that the team is primed to continue executing on our strategy and delivering value to shareholders.”
