Rush Street Interactive ups 2025 guidance after revenue jumps 22% in Q2

Rush Street Interactive (RSI) reported a 22% year-on-year revenue increase in Q2 2025, reaching $269.2 million.

The increase in revenue in the second quarter was buoyed by strong online casino and sports betting activity. The company also posted a net profit of $28.8 million for the quarter, a sharp turnaround from a $0.3 million loss during the same period in 2024.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 88% year-on-year to $40.2 million. Adjusted sales and marketing expenses remained steady at $36.2 million.

The company also hit a new milestone in user monetization, recording a quarterly high of $391 average revenue per monthly active user (ARPMUA) in the U.S. and Canada. Monthly active users (MAUs) grew 21% year-on-year to 197,000 in North America and soared 42% to 403,000 in Latin America.

RSI's revenue for the first half of 2025 reached $531.6 million, a 19.4% increase compared to H1 2024. This positions the company to surpass the $1 billion revenue mark by year-end, in line with previous forecasts.

Adjusted EBITDA for H1 rose 62.5% to $73.5 million. Net income came in at $40 million, reversing a $2.5 million loss from the first half of the prior year. Operating expenses climbed to $492.4 million, up from $432.1 million in H1 2024.

Following the strong performance, RSI has raised its full-year 2025 financial guidance. The company now expects revenue between $1.05 billion and $1.1 billion, with adjusted EBITDA projected between $133 million and $147 million.

Key milestones this year so far include launching the BetRivers sportsbook with the Swinomish tribe in Washington, expanding its deal with Inspired in LatAm and Delaware, and launching the BetRivers Poker Network in four U.S. states.

CEO Richard Schwartz said the results reflect “strong, broad-based performance,” with online casino revenue up 25% and sports betting up 15%. 

“The consistency and strength of our business model are evident in our results, particularly in North American markets that include online casino, where we saw Monthly Active User growth exceeding 30%,” he said. “Our strategic focus on markets where we can deploy our full suite of gaming offerings continues to drive exceptional performance and maximize player value.”

In late 2023, RSI took over from 888 as the Delaware Lottery’s exclusive iCasino operator. In its first year, RSI brought in $102 million in online casino revenue—over six times more than 888’s $15.1 million in its final year. RSI is now one of the top four U.S. iCasino operators and is active in as many states as any competitor.

While growth was observed across all segments, a new 19% VAT on player deposits in Colombia cut into profits. RSI responded with bonusing to protect players, keeping net revenue flat despite a 70% increase in GGR. The VAT runs through 2025. CFO Kyle Sauers expects strong growth in the country to resume in 2026.