Record Revenue and Profit Growth: Review of Rush Street Interactive's First Quarter 2024 Progress
Date: 2024-05-02 Author: Alex Crawford Categories: CASINO
Rush Street Interactive (RSI) impressed investors by announcing record revenue and adjusted EBITDA for the first quarter of fiscal 2024. They also reduced their net loss by 90.0%.
Fascinating numbers
The company's revenue for the three months to March 31 hit an impressive $217.4 million, up 33.9% on the previous year. This figure became a new quarterly record for the RSI.
The revenue growth was driven by expansion in its online casino and sports betting businesses, according to CEO Richard Schwartz. Schwartz emphasized that the strategy to improve the user experience and provide quality service attracts and retains players on the platform.
Impact Assessment on Delaware
RSI's merger with BetRivers and the launch of the first online sportsbook in Delaware had a positive impact on financial performance. Annual gross gaming revenue increased, and Schwartz expressed confidence in maintaining the current structure.
Success in other markets
RSI also noted impressive revenue growth in its mature markets of North America and Latin America. New marketing strategies and active investments in these regions have yielded significant results.
Development throughout the year
The company issued guidance for the full fiscal year 2024, expecting continued growth in revenue and adjusted EBITDA. The performance exceeding expectations underscores RSI's strong performance and potential for future growth.
