Rush Street Interactive (RSI) has achieved remarkable milestones in its financial performance for the first quarter of fiscal 2024, reporting record revenue and adjusted EBITDA, along with a substantial reduction in net loss by 90%. The company's revenues for the quarter soared to $217.4 million, marking a significant 33.9% increase compared to the same period last year and establishing a new quarterly revenue record.
RSI attributed this impressive growth to the expansion of its online casino and sports betting segments. CEO Richard Schwartz emphasized that the positive growth trajectory observed in 2023 has seamlessly transitioned into the new fiscal year. Schwartz further elaborated, stating, "We are rapidly expanding our player base, with each player demonstrating higher value on average. Our enhanced efficiency in reaching new gamers has led to significant profitability amidst this remarkable growth."
The robust financial performance underscores RSI's strategic initiatives and underscores its position as a leading player in the gaming industry.
