Rush Street Interactive Posts Record 2025 Results as Revenue Surges
Rush Street Interactive delivered record 2025 revenue and strong adjusted EBITDA growth across the U.S. and Latin America.
Rush Street Interactive (RSI) reported record financial results for full-year 2025, posting significant year-over-year revenue growth and improved profitability across its North American and Latin American markets.
The company, which operates the BetRivers and PlaySugarHouse brands, highlighted strong online casino performance and disciplined cost management as key drivers behind the milestone year. They continued to show a push toward strategic partnerships in 2025, like the agreement they announced with RubyPlay, and the numbers suggest this strategy is paying off.
Record Revenue in 2025
Rush Street Interactive generated record annual revenue in 2025, reflecting continued expansion in regulated iGaming and online sports betting markets.
Key financial highlights included:
- Full-year revenue growth year-over-year
- Record quarterly revenue in Q4 2025
- Improved adjusted EBITDA performance
- Strengthened balance sheet position
Management attributed the growth primarily to robust online casino revenue in core U.S. states, along with improving sports betting margins.
Q4 2025 Performance
The fourth quarter capped off RSI’s strongest year to date.
Q4 performance included:
- Strong revenue growth compared to Q4 2024
- Expansion in active player base
- Increased average revenue per user (ARPU)
- Improved operational efficiency
The company reported continued traction in online casino-heavy jurisdictions, where margins tend to be higher than sportsbook-only markets.
U.S. and Latin America Momentum
RSI operates across multiple regulated markets in the United States and has established a growing presence in Latin America.
U.S. growth was driven by:
- Mature iGaming states such as New Jersey and Michigan
- Continued scaling in newer online casino markets
- Improved promotional discipline in sports betting
In Latin America, RSI maintained momentum in regulated jurisdictions, reinforcing its strategy of focusing on markets with sustainable regulatory frameworks.
Path to Profitability
One of the most notable elements of RSI’s 2025 results was improved adjusted EBITDA.
Unlike some competitors still prioritizing aggressive customer acquisition spending, RSI emphasized:
- Promotional efficiency
- Controlled marketing spend
- Stronger player retention metrics
This disciplined approach helped expand margins while maintaining steady user growth.
Competitive Landscape
Rush Street Interactive competes with major U.S. operators including:
- DraftKings
- FanDuel
- Caesars Entertainment
RSI has differentiated itself through a heavier focus on iGaming, which typically delivers higher long-term margins compared to sports betting.
Management Commentary
Company leadership described 2025 as a transformational year marked by record revenue and operational execution.
Executives pointed to:
- Continued growth in high-margin online casino revenue
- Strategic discipline in capital allocation
- Long-term commitment to regulated markets
The company also reiterated its confidence in sustained revenue growth moving into 2026.
Why This Matters
RSI’s record results reflect broader trends in the U.S. gaming industry:
- Online casino revenue continues to outpace sports betting growth in mature markets
- Profitability is increasingly becoming a priority over pure market share
- Investors are rewarding operators showing margin discipline
As more states consider iGaming legalization, RSI’s iGaming-first strategy could position it for continued expansion.
Bottom Line
Rush Street Interactive delivered record revenue in 2025, capped by a strong fourth quarter and improved adjusted EBITDA.
The company’s disciplined cost management and iGaming-driven growth model continue to strengthen its competitive standing in the evolving U.S. online gambling market.
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