Rush Street Interactive has reported a strong first quarter performance, pointing to its online casino and sports betting offerings as key drivers of revenue growth.
The company, which operates popular online gaming sites such as BetRivers and PlaySugarHouse, saw a 250% increase in revenue compared to the same quarter last year. This growth was fueled by a surge in online casino activity, with revenue from that segment up 300% year-over-year.
Rush Street also saw significant growth in its sports betting operations, with revenue in that segment increasing by 200% compared to Q1 of 2020. The company attributed this growth to a combination of increased customer engagement and favorable sports betting market conditions.
Rush Street CEO Greg Carlin commented on the company’s strong performance, stating that they were “pleased to see such strong revenue growth across our online casino and sports betting offerings.” Carlin also noted that the company’s expansion into new markets, such as Michigan and Virginia, had contributed to their success in the first quarter.
Looking ahead, Rush Street is optimistic about the future growth of its online gaming operations. The company recently announced a partnership with the French Lick Resort in Indiana to launch a new online casino in that state. This move is part of Rush Street’s broader strategy to expand into new markets and capitalize on the growing demand for online gaming options.
Overall, Rush Street’s strong performance in Q1 signals a bright future for the company’s online gaming operations. With the continued growth of the online casino and sports betting markets, Rush Street is well-positioned to capitalize on this trend and drive further revenue growth in the coming months.
