Rush Street Interactive’s Q3 2021 revenue up 57% but EBITDA negative
Online casino and sports betting company Rush Street Interactive (RSI) has announced its financial results for Q3.
Revenue was $122.9m, a 57% year-on-year increase, and net loss was $18.9m, compared to $26.5m during Q3 2020.
Adjusted EBITDA loss was $12.2m, compared to an adjusted EBITDA of $1m.
Real-money monthly active users in the US were up 26% year-on-year. As of 30 September 2021, RSI had $347m of unrestricted cash and cash equivalents.
Several business events highlighted by RSI included the launch of the PlaySugarHouse online sportsbook in Connecticut: the launch of online sports betting in Arizona thanks to a partnership with the Arizona Rattlers and the launch of BetRivers and PlaySugarHouse branded live-casino studios in Pennsylvania and New Jersey.
The report additionally mentioned RSI has partnered up with the American Gaming Association’s Have A Game Plan Bet Responsibly Campaign, which focuses on educating sports fans about the core principles of responsible sports betting.
Among the technological updates, RSI remarked on the launch of RushArena, a proprietary multi-player tournament engine that focuses on the online casino player experience.
Finally, RSI was recently selected by the State of New York as one of the nine operators to be licensed to offer mobile sports wagering in the state.
Richard Schwartz, RSI CEO, said: “New market access and launches have continued to be a significant driver of our overall success.
“Upon launch of its online sportsbook in New York, RSI will be one of only three companies with online gaming market access in New York, New Jersey, and Connecticut.
“The New York City media market, the largest media market in the nation, taps into all three states in the tri-state region, giving RSI significant long-term marketing efficiencies.”
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