Rush Street Interactive Q1 2025 Hits $262.4M Revenue, Up 21%

Cashing in Big

The company flipped a $2.2 million net loss from Q1 2024 into a tidy $11.2 million net profit. Adjusted EBITDA soared 95% to a record $33.2 million, nearly double the $17.1 million from a year ago.

“We have started 2025 with strong momentum, building on our success from recent years,” said CEO Richard Schwartz.

The key for the RSI was a knack for snagging and keeping high-value players, plus a sharp focus on sprucing up the player experience.

Online casino revenue shot up 25%, while online sports betting grew a solid 11%.

Users Flock to the Platform

RSI’s user base exploded, with monthly active users (MAU) in the US and Canada spiking 17% year-over-year. In Latin America, MAU skyrocketed 61%, hitting a new quarterly record, with Colombia posting its best-ever user count.

Markets outside Illinois and Pennsylvania chipped in 64% of total revenue, the highest share since RSI went public. In Delaware, where RSI’s been the sole operator since December 2023, online casino gross gaming revenue hit an annualized rate over $135 million, almost seven times the previous operator’s best quarter, with a 115% revenue leap year-over-year.

Newer markets in the US, Canada, and Latin America, launched since 2021, saw a combined 37% revenue boost, with Colombia’s local currency gaming revenue up 55%.

Casino Shines, Sports Holds Steady

The online casino segment is RSI’s golden goose, with players generating over six times the gross gaming revenue of sports-only bettors.

Folks using both casino and sports betting crank out 16.2 times the revenue of sports-only users. The casino market’s total addressable size is more than triple that of sports betting in mature markets, making it a smart bet for RSI’s growth.

RSI’s platform stands out with cool features like personalized user interfaces, social tools, site-wide gamification, and a custom promo engine.

This focus on keeping players hooked, paired with a laser-like aim at return on investment, has juiced up profitability, as shown by the record Adjusted EBITDA.

The company’s also a champ at customer service, bagging the EGR North America Customer Service Operator of the Year award five years running, with boosts in Net Promoter Score, First Contact Resolution, and Customer Satisfaction in 2024.

Global Push and Smart Moves

RSI’s doubling down on high-growth, high-margin regulated markets like Colombia, Mexico, Ontario, and Peru, with the setup to jump into new Latin American markets as they open.

In the US, RSI ranks in the top five for both online casino and sports betting revenue, operating in more states than any competitor. The company also repurchased $5.2 million in shares under a $50 million buyback program,

Looking ahead, RSI’s sticking to its full-year 2025 forecast, expecting revenue between $1.01 billion and $1.08 billion, a 13% bump at the midpoint, and Adjusted EBITDA of $115 million to $135 million, up 35%.