Rush Street Interactive, Inc. (RSI) reported a significant increase in financial performance for the fiscal year ended December 31, 2024, with total revenue reaching $924.1 million, a 34% increase from $691.2 million in 2023. This growth was primarily driven by the expansion of online casino and sports betting operations across existing markets and new market entries. The company also reported a net income of $7.2 million, a substantial recovery from a net loss of $60.1 million in the previous year, indicating a turnaround in profitability.
The filing highlighted several strategic developments, including the launch of new offerings and the expansion into additional jurisdictions. RSI now operates in 16 U.S. states and four international markets, including Colombia, Ontario, Mexico, and Peru. The company has also focused on enhancing its product offerings, which include real-money online casino games, online sports betting, and social gaming. The average monthly active users (MAUs) in the U.S. and Canada increased year-over-year, reflecting strong customer retention and engagement strategies, particularly during major sporting events like the Copa América.
Operationally, RSI has made significant investments in its proprietary online gaming platform, which has allowed for rapid market entry and customization of offerings to meet local regulations. The company reported a decrease in costs of revenue as a percentage of total revenue, from 67% in 2023 to 65% in 2024, indicating improved operational efficiency. Advertising and promotional expenses slightly decreased, reflecting a strategic rationalization of marketing spend as the online gaming industry matures.
Looking ahead, RSI expressed optimism about its growth prospects, citing ongoing legislative momentum for online gaming in various jurisdictions. The company plans to continue investing in its technology and personnel to support expansion efforts. However, it acknowledged potential risks, including regulatory changes, competition, and economic conditions that could impact consumer spending on discretionary entertainment. The company’s ability to maintain its market position will depend on its capacity to adapt to these challenges while continuing to innovate and enhance customer experiences.
About Rush Street Interactive, Inc.
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