Rush Street Interactive Inc Stock Price, News & Analysis

Rush Street Interactive (NYSE: RSI), a leading online casino and sports betting company, has reaffirmed its commitment to customer-centric policies by announcing it has no plans to implement a customer surcharge. This decision aligns with RSI's dedication to providing exceptional value to players.

RSI's customer-first approach is highlighted by its recent accolade as the EGR North America Customer Services Operator of the Year for the fifth consecutive year. The company's focus on customer satisfaction is further exemplified by its best-in-class rewards and loyalty programs, designed to drive long-term player retention and build trust.

CEO Richard Schwartz emphasized RSI's commitment to maintaining industry leadership by prioritizing player needs and preferences, setting a benchmark for excellence in online gaming.

Rush Street Interactive (NYSE: RSI) reported strong Q2 2024 results, with revenue reaching $220.4 million, up 34% year-over-year. The company narrowed its net loss to $0.3 million from $16.7 million in Q2 2023. Adjusted EBITDA surged to $21.4 million, compared to $1.2 million in the same period last year. Monthly Active Users (MAU) in the US and Canada increased by 24% to 164,000, while Latin American MAUs grew 79% to 288,000.

RSI raised its full-year 2024 guidance, projecting revenue between $860 and $900 million (27% YoY growth at midpoint) and Adjusted EBITDA between $64 and $72 million. The company's strategic initiatives have led to balanced growth across iCasino and online sports betting in existing and new markets, with strong performance in Pennsylvania, New Jersey, Michigan, and Delaware.

Rush Street Interactive (NYSE: RSI) has launched its RushBet online casino and sportsbook in Peru, marking a significant expansion of its Latin American footprint. This strategic move extends RSI's presence to a market of over 30 million people, strengthening its position as a leading LatAm online gaming operator. The launch leverages RSI's operational expertise in Latin America, particularly its brand equity built over six years in the region.

RSI becomes the first operator fully licensed under Peru's new regulatory regime, aligning with its strategy of entering regulated markets with strong growth potential. The company aims to capitalize on shared media markets with Colombia, where RushBet is already a top-tier brand. The Peru launch is expected to complement RSI's operations in Colombia and Mexico, providing a platform for potential further expansion in the region.

Rush Street Interactive (NYSE: RSI) announced that it will release its second quarter 2024 earnings results on July 31, 2024, after market close. Following the release, a conference call will be held at 6:00 pm ET (5:00 pm CT) to discuss the results. The earnings release and related materials will be accessible on the RSI investor relations website. The conference call can be joined via webcast or by dialing specified phone numbers, using access code 340374. An audio replay of the call will be available on the investor relations website until at least August 31, 2024.

Rush Street Interactive (NYSE: RSI), a prominent US-based online gaming company, has been awarded the Customer Services Operator of the Year for the fifth consecutive time at the EGR North America Awards 2024. The EGR Awards are esteemed accolades within the online gaming sector, celebrating operators with exceptional performance. CEO Richard Schwartz attributes this success to RSI's commitment to building trust and ensuring a seamless player experience through innovative and responsive customer service. The award underlines RSI's competitive edge in player retention due to its excellent service.

Rush Street Interactive, Inc. (NYSE: RSI) will participate at the Needham Technology, Media, & Consumer Conference where CEO Richard Schwartz and CFO Kyle Sauers will have a fireside chat on May 16, 2024. The event will be webcasted on the company's website.

Infront Bettor and Rush Street Interactive Inc (NYSE: RSI) have entered into a strategic partnership, granting access to Infront's official ITF data for tennis events and streams from 2025. The agreement includes access to data from over 58,000 matches from various tennis competitions, as well as video streams from soccer, basketball, and ice hockey events. This collaboration aims to enhance the betting experience for customers of RSI's BetRivers and RushBet brands in North and Latin America. The partnership signifies a significant expansion of Infront Bettor's presence in the US betting market and aims to provide top-tier global sports events to fans.

Rush Street Interactive, Inc. (NYSE: RSI) reported a first quarter revenue of $217 million, a 34% increase year-over-year. Despite a net loss of $2 million, the company achieved strong operating momentum with an Adjusted EBITDA of $17 million. RSI raised its full-year 2024 Adjusted EBITDA guidance by 38% to a range of $50 to $60 million. The company highlighted growth in iCasino and Online Sports businesses, increased MAUs, and improved ARPMAU. RSI expects revenue for 2024 to be between $810 and $860 million, with Adjusted EBITDA projected to be between $50 and $60 million.