Rush Street Interactive has announced financial results for the third quarter ended September 30, noting a 15 per cent increase in revenue over the previous year.
Revenue was $169.9m during the third quarter of 2023 compared to $148m during the third quarter of 2022. Net loss was $13.4m during the third quarter of 2023, compared to a net loss of $22.7m in 2022.
Adjusted EBITDA was a positive $4.1m in 2023, compared to an adjusted EBITDA loss of $12.5m during the third quarter of 2022.
Richard Schwartz, CEO of RSI, said: “Thanks to our decade-long investment in cutting-edge technology and a customer-centric approach, we've positioned ourselves as a top five online operator in the US, with a leading position in igaming and a growing online sportsbook.
"As discerning consumers seek out the best products and user experiences, our third quarter results affirm our ability to deliver on both counts as we continue to acquire, engage and retain customers.
“With strong revenue growth and more efficient marketing spend, we are proud to report another quarter of increasing quarterly profitability on an adjusted EBITDA basis as well as our expectation to have positive adjusted EBITDA for the full year, underscoring our commitment to sustainable growth and profitability.
"Our focus on innovation and efficiency has elevated our market-leading ROI, enabling us to navigate competitive markets with remarkable success and resilience.
"As we look ahead to new opportunities in North America and Latin America, we remain optimistic and excited about the path that lies ahead.”
