Rush Street Interactive, Inc. · NYSE:RSI
Rush Street Interactive — Q3 2023 Earnings Presentation
27 slides from Rush Street Interactive's earnings presentation, Nov 1, 2023
Slide 1: Investor Presentation
Investor Presentation November 2023 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the estimated future financial performance, financial position a
Slide 3: Investment Highlights
Investment Highlights A leading digital operator driven by an iCasino-centric strategy, innovative user experience and seasoned 1 management team 2 Rank in the Top 4 and Top 5 operators in iCasino and online sports betting, respectively, in the United States Extensive market access to future iCasino
Slide 4: Quarterly Highlights
Quarterly Highlights Financial Highlights Business Highlights Selected by Delaware Lottery as sole vendor for iGaming and sports 1 Grew revenue to $170MM in 3Q23, up 15% Y-o-Y. 1 betting. Achieved Adjusted EBITDA profitability for the 2nd consecutive quarter with Innovation is resulting in improved
Slide 5: RSI's Market Access Creates Growth Opportunity and Paves the Way for iCasino
Currently Live Market Access Opportunities4 RSI’s Market Access Creates Growth Markets iCasino Online Sports Betting Retail Sports Betting Opportunity and Paves the Way for iCasino Domestic Arizona Colorado Market Access Partner of Choice Connecticut 5 Delaware RSI benefits from a larger potential T
Slide 6: Key Positioning in iCasino Markets
Key Positioning in iCasino Markets RSI is a top 5 operator in all visible markets, operating in as many states as any other operator in the U.S., as well as internationally United States and Canada GGR in U.S. iCasino and OSB Markets West Delaware1 Pennsylvania Michigan New Jersey Ontario Virginia 5
Slide 7: Beachhead to Grow New Markets in LATAM
Beachhead to Grow New Markets in LATAM Existing Core Markets Population: 52MM COLOMBIA GDP per capita: $6.6k Regulatory Status: iCasino and OSB regulated Population: 127MM MEXICO GDP per capita: $11.0k Regulatory Status: iCasino and OSB regulated Latin America Potential Expansion ~$5.7bn Population:
Slide 8: Scalable Platform Proven to Increase Retention and Player Values
Scalable Platform Proven to Increase Retention and Player Values ROBUST, SCALABLE ARCHITECTURE MULTI-BRAND, MULTI-VERTICAL & MULTI-JDX • Modern end-to-end technology stack with modular architecture & • Demonstrated success operating multi-brands in the same market components (e.g., bonus abuse prote
Slide 9: Proprietary Promotional Games with Leading Third-party Content
Proprietary Promotional Games with Leading Third-party Content Breadth and Quality of Content Promotional Free-to-play Bingo Platform Offering market leading quality and selection Increase retention by rewarding brand loyalty [TBD – Design working on relevant imagery] • Frequently first to market wi
Slide 10: RSI's iCasino Product Improves Player Experience through Community Engagement
RSI’s iCasino Product Improves Player Experience through Community Engagement P2P Community Moderator Chat Multi-player Online Casino Tournaments Increased engagement through connectivity Increase engagement through competitions • Free-to-play tournament system • Accessible chatrooms available 24/7
Slide 11: Exclusive Differentiated Retention Tools for Sportsbook Bettors
Exclusive Differentiated Retention Tools for Sportsbook Bettors Basketball Squares promo game extended successful engagement tool to next sports season. Building on the successful results from football season, we continued to innovate on our proprietary Squares/Box Pool game to engage our basketball
Slide 12: Casino Led Strategy with Attractive Demographics & Unit Economics
…And Casino Led Strategy with Attractive Demographics & Unit Economics Broader Demographics Better Monetization Larger Market • Large cohort of female slot players generates • Users of iCasino have a GGR that is 5x higher than an • iCasino TAM is nearly 3x the size of online sports betting diversifi
Slide 13: The BetRivers Network Effectively Enhances User Engagement
The BetRivers Network Effectively Enhances User Engagement RSI’s in-house media outlet produces custom audio and visual content for bettors, including game recaps, trending odds and tips and local team/player insights Commentary • BetRivers Network sports media personalities such as Mike Francesca (
Slide 14: Strong Player Value & Retention
Strong Player Value & Retention • Increasing player value over time – over $6,000 per player for older cohorts1 • Strong retention and new markets expected to drive continued revenue growth Avg LTV for All U.S. & Ontario Cohorts Since Inception1 Quarterly Net Revenue by Yearly Cohort ($MM) 2 Launche
Slide 15: Award-Winning Customer Service
Award-Winning Customer Service RSI player satisfaction has remained >90% positive with 98% of RSI has won EGR “Customer Service Operator of customer issues solved in one contact the Year” 4 year’s straight – every year since the award’s inception Platform Enhancement Leads to Quicker Response Times
Slide 16: Strong U.S. & Canadian Growth
Strong U.S. & Canadian Growth Demonstrated history of growing revenues over the long-term from an expanding user base and consistently increasing revenue per user • MAUs up 4% in iCasino markets in 3Q23 compared Average Revenue Per Monthly Active User (“ARPMAU”) $374 $359 to 3Q221 $345 $327 $325 • A
Slide 17: 125+ Years of Collective C-Suite Industry Experience
125+ Years of Collective C-Suite Industry Experience RICHARD KYLE MATTIAS EINAR LAURA MCALLISTER PAUL ROB MICHELLE SCHWARTZ SAUERS STETZ ROOSILEHT COX WIERBICKI PICARD ARMER Chief Executive Chief Financial Chief Operating Chief Information Chief Compliance Chief Legal Chief Admin Chief People Office
Slide 18: Financial Overview
Financial Overview RUSH
Slide 19: Robust Growth Through Expansion
Robust Growth Through Expansion New state launches and international markets are expected to meaningfully contribute to growth going forward Latin America, including Total Revenue Mexico ($ in MMs) (as % of Total Revenue) Q1 2020 $166 $170 $162 $165 $148 $15 $19 $144 $16 $18 $131 $135 $13 $12 6.5% $
Slide 20: Statements of Operations
Statements of Operations Amounts in USD $000’s (except for shares and per share data) Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 169,887 $ 148,004 $ 497,310 $ 426,678 Operating costs and expenses Cost
Slide 21: Statements of Comprehensive Loss
Statements of Comprehensive Loss Amounts in USD $000’s Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss $ (13,366) $ (22,657) $ (54,600) $ (103,273) Other comprehensive loss Foreign currency translation adju
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted Operating Costs and Expenses, Adjusted Net Loss, Adjusted Net Loss Per Share and Adjusted Weighted Average Common Shares Outstanding, each of which is defined below: Adjust
Slide 23: Non-GAAP Measures: Adjusted EBITDA
Non-GAAP Measures: Adjusted EBITDA Three Months Ended Nine Months Ended Amounts in USD $000's September 30, September 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss $ (13,366) $ (22,657) $ (54,600) $ (103,273) (-/+) Interest (income) expense, net (762) 219 (1,430) 6
Slide 24: Non-GAAP Measures: Adjusted Operating Costs and Expenses
Non-GAAP Measures: Adjusted Operating Costs and Expenses Amounts in USD $000's Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP operating costs and expenses: Costs of revenue $ 116,159 $ 103,321 $ 333,166 $ 308,
Slide 25: Non-GAAP Measures: Adjusted Net Loss and Per Share
Non-GAAP Measures: Adjusted Net Loss; Adjusted Weighted Average Common Shares Outstanding; Adjusted Net Loss Per Share Amounts in USD $000's ( except for shares and per share data) Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Unaudited) (Unaudited) (Unaudited
Slide 26: Capitalization
Capitalization Common Stock Type of Outstanding Equity as of September 30, 2023 Outstanding Class V Common Stock 151,399,310 Class A Common Stock 70,829,206 Total Outstanding 222,228,516 26
Slide 27: Key Metrics and Other Information
Key Metrics and Other Information This presentation includes certain key metrics and other information, including Average Revenue Per Monthly Active User, First Time Depositor, Gross Gaming Revenue, Lifetime Value and Monthly Active Users, each of which is defined below. Average Revenue Per Monthly
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