Rush Street Interactive (RSI) has upgraded its guidance for FY24 after setting quarterly revenue and adjusted EBITDA records.
CEO Richard Schwartz labelled the company’s performance as “exceptional” after a 37 per cent year-on-year revenue rise to US$232m.
Adjusted EBITDA of $23.4m rose from $4.1m a year ago.
“These record results highlight the effectiveness of our strategic initiatives and ability to execute,” Schwartz said. “Our focus on innovation to attract and retain high-value players continues to drive significant growth and profitability.”
The company, which operates the BetRivers brand online as well as a number of Rivers casinos in North America, raised its full-year revenue guidance to between $900m and $920m, increasing the midpoint by $30m.
The midpoint of the range, $910m, would represent 32 per cent year-on-year growth compared to $691m.
RSI also expects adjusted EBITDA to be between $82m and $86m, with the midpoint rising by $16m.
The midpoint of the range - $84m – would compare to $8.2m in adjusted EBITDA for 2023.
“Our strategy has yielded broad based growth and success across all of our geographies and products,” Schwartz added.
“We’ve accelerated player growth for another consecutive quarter, acquired significantly more players with much greater marketing efficiency, all the while increasing our player values. This combination sets us up well for continued strong performance.”
