Rush Street Interactive posts third quarter revenue of $143.7m￼
Rush Street Interactive posts record Q3 revenue of $143.7m. Net loss was $22.7 million during the third quarter of 2022, compared to a net loss of $18.9 million during the third quarter of 2021.
Adjusted EBITDA was a loss of $12.5 million during the third quarter of 2022, compared to an Adjusted EBITDA loss of $12.2 million during the third quarter of 2021.
Richard Schwartz, Chief Executive Officer of RSI, said, “We posted a solid third quarter, as our efficient approach to marketing and robust platform continue to perform well. Despite a lower than normal online casino hold rate and currency headwinds during the quarter, which we believe collectively impacted our quarterly revenue by an estimated $6 million, we generated record revenues for the fourteenth straight quarter and progressed towards our profitability goals and our target of being Adjusted EBITDA positive for the second half of 2023.”
“In terms of activity, we continue to see very strong volumes in markets where we operate both online casino and sports betting, as we are able to execute on the enhanced profitability offered by the online casino vertical in these markets.
Internationally, we are seeing strong results from both Colombia and Ontario and we are excited to begin increasing marketing efforts in Mexico. We remain focused on building a strong foundation in our new markets that will provide stable, long-term growth opportunities while keeping an eye on future profitability.”