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US – Rush Street enjoys fourth quarter increase of 31 per cent

By - 7 March 2022

Rush Street Interactive generated revenue of $130.6m during the fourth quarter of 2021, an increase of 31 per cent, compared to $100m during the fourth quarter of 2020.

The year as a whole brought an increase of 75 per cent with revenue up to $488.1m during full year 2021 from $278.5m.

Net loss was $38.1mduring the fourth quarter of 2021, compared to a net loss of $41.6 million during the fourth quarter of 2020.

Real-Money Monthly Active Users in the United States for the fourth quarter of 2021 were up 28 per cent year-over-year with average revenue per MAU of $327 during the fourth quarter of 2021.

As of December 31, 2021, RSI had $281 million of unrestricted cash and cash equivalents.

Richard Schwartz, Chief Executive Officer of RSI, said: “We are continuing our disciplined approach of balancing profitability from existing markets and investing in new market launches. RSI’s consumer experience leverages our best-in-class technology and now operates successfully in 14 total markets compared to only 6 at the end of 2020. Our track record demonstrates that we have been highly successful stewards of capital for our investors. Delivering strong shareholder returns remains our priority.”

“On the technology and product side, we continue to enhance our offerings and provide a best-in-class gaming experience to our customers. As planned, we went live with our integrated iOS sportsbook-casino app near the end of 2021. During the first half of 2022 we look forward to expanding into Canada and Mexico with our online casino and sportsbook sites and apps in these two large population markets where we are well positioned to achieve success.”During the fourth quarter, launched online sportsbook in Connecticut, along with nine of the fifteen planned retail sportsbooks, as the sportsbook partner of the Connecticut Lottery, and as one of just three online operators in the state.

During the fourth quarter, launched online sportsbook in Arizona via its partnership with the Arizona Rattlers, having secured one of the limited sports wagering licenses in the state. Following the quarter, the company launched online sports books in New York and Louisiana. In anticipation of launch in Ontario, it increased brand awareness of BetRivers in Canada through an Olympics focused marketing campaign.

It also entered into market access partnership with Grupo Multimedios to bring online casino and sportsbook to Mexico with anticipated launch in Q2 2022.

It plans to bring a retail sportsbook to the Hall of Fame Village in Canton, Ohio.

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