Rush Street Interactive (RSI) has reported financial growth in the fourth quarter and full year of 2024, with the company posting $254.2 million in revenue for Q4, a 31% increase from the same period in 2023. RSI also turned a profit, reporting $6.5 million in net income for the quarter, compared to a net loss of $5.5 million in Q4 2023.
The company’s adjusted EBITDA for the fourth quarter rose to $30.6 million, more than doubling from $11.5 million a year prior. Monthly active users (MAUs) also saw notable increases, with the U.S. and Canadian markets reaching approximately 205,000 users, a 28% year-over-year jump. Latin American markets, including Mexico, experienced even stronger growth, with MAUs climbing 71% to 348,000.
For the full year, RSI reported $924.1 million in revenue, reflecting a 34% increase from $691.2 million in 2023. Net income for the year totaled $7.2 million, a sharp turnaround from the $60.1 million loss reported in 2023.
Adjusted EBITDA rose significantly, reaching $92.5 million, up from $8.2 million in the prior year. The company ended 2024 with $229 million in unrestricted cash and cash equivalents, an increase of $61 million over the year.
RSI CEO Richard Schwartz attributed the company’s performance to its strategic focus on customer acquisition, technology investments, and operational efficiency. “We are excited to report another quarter of record performance, including for both revenue and adjusted EBITDA,” he said.
“Our fourth quarter revenue grew by 31% year-over-year, and adjusted EBITDA increased over two and a half times from the same period last year. We experienced broad-based growth and success across all our geographies and products,” Schwartz added.
RSI is projecting full-year revenue for 2025 to be between $1.01 billion and $1.08 billion, with an expected adjusted EBITDA between $115 million and $135 million. These estimates assume continued operations in existing markets under current tax structures.
The company has also been refining its marketing strategy, increasing its advertising spend in high-growth areas while maintaining overall discipline in promotional expenses.
In Q4, RSI allocated $43.1 million to advertising and promotions, its highest quarterly marketing spend in nearly two years. However, full-year marketing costs were slightly reduced from 2023, totaling $155.8 million, down from $158.4 million the previous year.
CFO Kyle Sauers stated: “We are spending more in markets where we see better opportunity for returns and we will continue to be flexible with those investments.”
RSI’s expansion into new markets is expected to further drive growth. In 2024, the company secured an agreement with the Delaware Lottery to bring its BetRivers brand to the state. RSI also entered the Washington State market through a partnership with the Swinomish Indian Tribal Community, launching a BetRivers-branded retail sportsbook at the Swinomish Casino & Lodge.
Original article: https://www.yogonet.com/international/news/2025/03/05/96686-rush-street-interactive-reports-record-revenue-growth-in-q4-forecasts-over-1-billion-in-2025
