Rush Street Interactive revenue jumps 20%

Finance News

Rush Street Interactive reported its Q1 earnings results on Wednesday, May 3.

Revenue was up $27.42 million from the same period last year, an increase of 20%, compared to $134.9 million during the first quarter of 2022. Net loss was $24.5 million during the first quarter of 2023, compared to a net loss of $52.3 million during the first quarter of 2022.

Revenue grew by more than 100% year-over-year in Latin America and North American markets launched after 2020.

Richard Schwartz, Chief Executive Officer of RSI, said, “We are pleased with our first quarter results as we made great strides towards profitability with much improved Adjusted EBITDA performance. Revenues grew 20% compared to last year, propelled by more than 100% growth in Latin America and new markets launched in North America after 2020. Results were strong across our business lines with revenue growth in both online casino and online sportsbook.”