Rush Street Interactive is having quite a profitable 2023.
The online legal sports betting and iGaming provider recorded third-quarter revenue of $169.9 million, up 15% from the same quarter in 2022 and a touch higher than the $165.1 million made in Q2 of 2023.
Based on figures released by Rush Street Interactive on Wednesday, the parent company of sportsbook operator BetRivers also saw its adjusted EBITDA go from a $12.5 million loss in Q3 of 2022 to a positive $4.1 million in this year’s Q3, which ended Sept. 30.
RSI’s advertising and promotions expenses dropped 23% year-over-year while the average revenue per monthly user in North America was up 8% to $374.
“Thanks to our decade-long investment in cutting-edge technology and a customer-centric approach, we've positioned ourselves as a top 5 online operator in the U.S., 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.”
-Richard Schwartz, RSI CEO
Projecting positively
RSI operates online sports betting through BetRivers and its mobile casino SugarHouse in 15 U.S. States, including New York, New Jersey, and Ohio, as well as regulated markets in Ontario, Canada, Colombia, and Mexico.
The Chicago-based company believes its commitment to “innovation and efficiency” has RSI on pace for a positive EBITDA for 2023. New guidance has RSI projecting revenue between $665 million and $685 million, an increase from its midpoint range of $675 million earlier this year. The company is on pace to surpass last year’s $592 million of revenue as it’s already reported 2023 profits of $497.3 million heading into the final quarter.
New markets and technology spark revenue
Increased projections and belief for more profitability are based on the current markets that RSI is operating in, including a boost from opening in Ohio and Maryland this year.
RSI was also selected to be the exclusive online gaming provider in Delaware, with operations scheduled to launch early this winter.
The gaming company highlighted its sportsbook’s “Prop Central” feature as generating higher margin player prop bets in Q3.
Stay updated with the latest picks, odds, and news! Tap the 
to add us to your favorites on Google News to never miss a story.
