Rush Street revenues and profits skyrocket
Profits for Rush Street Interactive were US$28.8 million in the second quarter, reversing a US$300,000 loss posted a year earlier.
The igaming provider also posted revenue of US$269.2 million, a 22% surge. Cash flow was US$40.2 million, an 88% vault.
Monthly active users in the United States and Canada grew to 197,000, an increase of 21%. Average monthly revenue per user was US$391.
Meanwhile, Latin American users rose 42%, reaching 403,000 during the quarter. On average, Rush Street made US$30 per user. This was an US$8-per-user decline because of absorbing the cost of a value-added tax in Colombia.
Rush Street also bought back US$2.5 million in stock at an average price of US$10.41 per share. It has US$42 million of a US$50 million repurchase authorization left.
Executives felt sufficiently emboldened to raise their full-year earnings and cash-flow guidance. They projected revenue between US$1 billion and US$1.1 billion, a 16% jump from 2024.
Cash flow was estimated to be between US$133 million and US$147 million for the year. That would constitute a 51% improvement on 2024’s US$92.5 million.
In a statement, CEO Richard Schwartz said he was “excited to report that we’ve delivered another exceptional quarter with records across the board, marking our ninth consecutive quarter of improving both revenue and adjusted EBITDA from the preceding quarter.” He added that igaming revenue was up 25% while sports betting win rose 15%.
The CEO concluded, “the consistency and strength of our business model is evident in our results, particularly in North American markets that include online casino, where we saw monthly active user growth exceeding 30%. Our strategic focus on markets where we can deploy our full suite of gaming offerings continues to drive exceptional performance and maximize player value.”
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David McKee is an award-winning journalist who has three decades of experience covering the gaming industry.
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