Rush Street Interactive (RSI) 28th Annual ICR Conference 2026 summary

Business overview and strategy

• Focuses on online casino first, with 70% of revenue from casino and 30% from sports; 85% of business in North America, 15% in Latin America.

• Selective capital investment and customer-focused approach have led to top-five market position in North America.

• 2025 guidance projects over $1.1 billion in revenue and $150 million in Adjusted EBITDA, with strong growth expected in 2026.

• Online casino access in North America remains limited, presenting significant long-term growth potential as more states legalize.

Growth trends and market performance

• Achieved record first-time depositors in Q2 and Q3, with declining acquisition costs.

• Monthly active users in North America up 34% in Q3; online casino markets saw 46% year-over-year growth.

• Q3 marked fastest or second-fastest growth months in key markets like Michigan, Ontario, New Jersey, West Virginia, and Delaware.

• Q4 continued strong trends: Michigan revenue up ~50%, New Jersey and Ontario up over 20%, Pennsylvania grew in low teens.

New market opportunities and legislative developments

• Alberta and Maine are expected to launch online casino and sports betting soon, providing near-term growth catalysts.

• Delaware performance: over 60% year-over-year growth, now 9x previous operator's best quarter.

• Potential large new markets include Virginia, New York, Illinois, Maryland, and Indiana, with existing partnerships in several.

• All current online casino markets are still growing at over 20% annually, even years after launch.