Rush Street Interactive (RSI) has announced another set of record quarterly results, including a 41% year-on-year (YoY) surge in revenue to $370.4m (£274m) during Q1 2026, as bosses pointed to the “strength of our casino-first strategy”.
The Chicago-based operator, which operates BetRivers and PlaySugarHouse in North America, along with RushBet in Latam, also revealed net income rocketed 134% YoY to $26.2m and adjusted EBITDA climbed 81% to $60.2m – both new quarterly highs.
The financial performance triggered an almost 17% jump in RSI shares in after-hours trading on Tuesday, 28 April, in New York. The stock has almost doubled in the past 12 month to close out yesterday at $24.
Meanwhile, first-time depositors reached a new quarterly high in Q1, despite RSI “maintaining disciplined marketing spend”, with brand awareness and efficiencies built into the user acquisition and retention model cited as reasons for the gains.
Adjusted sales and marketing costs amounted to $46.2m, or 12.5% of revenue.
There was also a strong increase in monthly active users (MAUs), up 51% to 839,000. North America MAUs increased 46% YoY, driven by “impressive” 62% growth in casino markets. MAUs in Latam rose 54% to 534,000.
CEO Richard Schwartz told investors on the earnings call that Mexico continues to “ramp nicely” and that RushBet was gaining market share in the country due to brand recognition and its strong player acquisition strategy.
On Q1, Schwartz said in his prepared remarks: “These results validate the customer-centric approach that has consistently driven our performance.
“The systematic enhancements we’ve made throughout the entire player journey have created a compounding dynamic where strong acquisition brings high-quality players, effective retention keeps them engaged and exceptional experiences drive value.”
Management noted the firm continues to prepare for the launch of Alberta’s commercial online gambling market and lessons would be learned from Ontario to hit the ground running.
RushBet operates in Colombia, Mexico and Peru, though Schwartz wouldn’t be drawn on speculation as to plans for market expansion in the region.
However, he was bullish about the prospects of a World Cup this summer in the US, Canada and Mexico seeing as RSI is live in all three markets and the time zones of the tournament will suit customers.
A fly in the ointment going forward is that Colombia has imposed a temporary 16% tax on gross gambling revenue (GGR) as part of a new emergency decree.
While the country’s 19% emergency tax on deposits has been removed, after a court deemed it to be unconstitutional, Schwartz said he expects the new 16% tax on GGR to be applied until the end of the year.
The strong Q1 performance means RSI has raised its full-year 2026 revenue guidance to between $1.49bn and $1.54bn, which would represent a YoY increase of 31% to 36%.
Adjusted EBITDA guidance has also been lifted, with management expecting to generate somewhere in the range of $230m and $250m in 2026. This would amount to YoY growth of 50% to 63%.
“We have tremendous confidence in our trajectory,” Schwartz said. “We’re executing well, growing our player base rapidly and profitably, and preparing for an exciting new market launch in Alberta.
“We remain committed to delivering exceptional player experiences while creating long-term value for our shareholders.”
The post RSI hits new quarterly highs for revenue, net income and adjusted EBITDA in Q1 first appeared on EGR Intel.
Casino-first operator raises 2026 top- and bottom-line guidance as CEO Richard Schwartz says there is “tremendous confidence in our trajectory”
The post RSI hits new quarterly highs for revenue, net income and adjusted EBITDA in Q1 first appeared on EGR Intel.