Rush Street Interactive (RSI), a leading online gaming company, has reported strong growth and progress towards profitability in its second quarter earnings report. The company, which operates popular online gaming platforms such as PlaySugarHouse and BetRivers, has seen a significant increase in revenue and user engagement in recent months.
According to the report, RSI’s revenue for the second quarter of 2021 reached $84.2 million, a 70% increase compared to the same period last year. The company’s net revenue also increased by 64% year-over-year, totaling $12.5 million. This growth can be attributed to a surge in online gaming activity as more people turn to digital platforms for entertainment during the ongoing COVID-19 pandemic.
In addition to revenue growth, RSI’s user base has also expanded significantly in the second quarter. The company reported a 110% increase in active players, with a total of 1.2 million users engaging with its online gaming platforms each month. This increase in user engagement has been driven by a combination of new customer acquisitions and higher levels of activity from existing users.
“We are thrilled with the strong performance and progress we have made towards profitability in the second quarter,” said Richard Schwartz, CEO of Rush Street Interactive. “Our focus on customer acquisition and retention, as well as our commitment to providing a best-in-class gaming experience, has resulted in significant revenue growth and increased user engagement.”
RSI’s positive financial results come at a time when the online gaming industry is experiencing rapid growth and expansion. With more states legalizing online sports betting and casino gaming, companies like RSI are well-positioned to capitalize on this trend and continue to grow their market share.
Looking ahead, RSI is confident that its strong performance will continue in the coming quarters. The company is focused on expanding its product offerings, entering new markets, and building partnerships with leading gaming brands to further drive revenue growth and profitability.
Overall, Rush Street Interactive’s move towards profitability in the second quarter earnings is a testament to the company’s strong leadership, innovative products, and commitment to delivering an exceptional gaming experience for its users. As the online gaming industry continues to evolve, RSI is well-positioned to remain a key player in this competitive market.
