Rush Street Interactive growth of over 100 per cent in Latin America helped drive a 20 per cent overall revenue climb in Q1 2023 to US$162.4m, with the company also moving closer to profitability.
The revenue figure increased from $134.9m in Q1 2022, with net loss down to $24.5m from $52.3m in Q1 last year.
Adjusted EBITDA loss was $8.7m, compared to $43.4m in the comparable period, with average revenue per monthly active user in the US and Canada at $325 during Q1, up 23 per cent year-on-year.
As well as the Latin America growth of over 100 per cent, North American markets launched after 2020 showed a similar uptick.
Richard Schwartz, CEO at RSI, said the company made “great strides towards profitability” with its adjusted EBITDA improvement.
He added: “On the back of these excellent results, we remain on track to achieving our goal of profitability for the second half of this year.
“We are staying disciplined in our approach and successfully balancing growth and profitability over the long run. Our results continue to show the approach is working well and we remain confident that our focused strategy will reward our shareholders over the long term.”
