Rush Street Interactive Exceeds Earnings Expectations in 2023
Date: 2024-03-07 Author: Dima Zakharov Categories: EVENTS
Record-Breaking Performance in 2023
Rush Street Interactive (RSI) has outperformed expectations in 2023, with revenues hitting $691.2 million, a 16.7% increase compared to the previous year. This impressive performance exceeded the projected revenue range of $630.0 million to $700.1 million set by Rush Street earlier in the year.
Net Loss Reduced Significantly
Despite remaining at a net loss for the year, RSI managed to slash its losses from $38.6 million in 2022 to $18.3 million in 2023. Moreover, the company achieved positive adjusted EBITDA for the year, surpassing its targets.
Expansion Plans and Market Monitoring
RSI CEO Richard Schwartz highlighted the potential for online casino expansion, particularly in the US and Canada. With the 2024 legislative session underway, the company is closely monitoring markets such as New York, Maryland, Illinois, and Alberta for potential developments.
Continued Growth and Optimism for the Future
Looking ahead, Rush Street Interactive remains optimistic about its prospects for growth in 2024. The company aims to build on its success in 2023, with revenue expected to reach between $770.0 million and $830.0 million, marking a significant increase from the previous year. Additionally, RSI anticipates adjusted EBITDA to be between $35.0 million and $45.0 million for 2024.
With a strong financial position and a focus on strategic investments, Rush Street Interactive is poised for continued success in the rapidly evolving online casino market.
