Slide 1: Investor Presentation May 2023
Investor Presentation - May 2023 -
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: Company Highlights
COMPANY HIGHLIGHTS Financial Highlights Business Highlights Crowned Customer Service Operator of the Year at the EGR 1 Grew revenue to $162MM in 1Q23, up 20% Y-o-Y. 1 North America Awards 2023 for the fourth year in a row. Continued profitable growth in casino markets, including Reduced Adjusted EBI
Slide 4: The State of Play: Market Opportunity
THE STATE OF PLAY Market Opportunity Market access partner of choice. Demonstrated record of success obtaining market access, with plans to continue those efforts RSI benefits from a larger potential TAM than most competitors due to our operations in Latin America and Canada United States Latin Amer
Slide 5: Growing Latin American Presence
GROWING LATIN AMERICAN PRESENCE CURRENT MARKETS Colombia Mexico • Launched RushBet OSB in June 2018, followed by iCasino in May • Launched online sportsbook and casino in June 2022 in conjunction 2019 with our partner Grupo Multimedios • Access to population of over 50 million • Access to population
Slide 6: Proprietary Platform & Differentiation
PROPRIETARY PLATFORM & DIFFERENTIATION RSI’s proprietary platform has allowed it to establish a market leading position via its speed to market and differentiated user experience. ONLINE PLATFORM Quick Deposits & Withdrawals RSI has developed a sophisticated customer facing platform Our self-develop
Slide 7: Online Casino Differentiation
ONLINE CASINO DIFFERENTIATION Frequently first to market with new content and the RSI platform offers one of the largest game libraries in the Breadth & Depth of Content industry. Premium Games Live Dealer, progressive jackpots & exclusive content. Bonusing Engine Real-time algorithmic bonusing impr
Slide 8: Exclusive Differentiated Retention Tools for Casino Players
EXCLUSIVE DIFFERENTIATED RETENTION TOOLS FOR CASINO PLAYERS CUSTOMER ACQUISITION IS IMPORTANT FOR GROWTH BUT RETENTION IS KEY TO PROFITABILITY. In April of 2023, we launched a first of its kind online slot tournament in Michigan, aptly called the “BetRivers Michigan Million.” This exclusive and inte
Slide 9: Exclusive Differentiated Retention Tools for Sportsbook Bettors
EXCLUSIVE DIFFERENTIATED RETENTION TOOLS FOR SPORTSBOOK BETTORS BASKETBALL SQUARES PROMO GAME EXTENDS SUCCESSFUL ENGAGEMENT TOOL TO NEXT SPORTS SEASON Building on the successful results from football season, we have continued to innovate on our proprietary Squares/Box Pool game to engage our basketb
Slide 10: Online Casino: Well-Rounded Demographics and Strong Economics
ONLINE CASINO: WELL-ROUNDED DEMOGRAPHICS AND STRONG ECONOMICS1 DEMOGRAPHICS BETTER MONETIZATION WELL POSITIONED Online casino customers skew more towards The average online sports betting and casino Online casino has generated more revenue female and are typically older than online sports customer g
Slide 11: Team Partnerships and Recent Highlights
TEAM PARTNERSHIPS AND RECENT HIGHLIGHTS Partnerships are formed across platforms to create marketing synergies, activations, and maximize value. Expanded existing partnership to include incremental marketing assets and the development of a courtside BetRivers betting and guest lounge. Extended our e
Slide 12: BetRivers Network: Media Production
BETRIVERS NETWORK: MEDIA PRODUCTION 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. • BetRivers Network sports media personalities such as Mike Francesca (NY, NJ, CT), Dan O’Toole (Ontari
Slide 13: Efficient Promotional Programs
EFFICIENT PROMOTIONAL PROGRAMS 4Q22 US PROMOTIONAL CREDITS AS A % OF GROSS REVENUE 26.9% 24.5% LARGEST 4 COMPETITORS1 TTM US PROMOTIONAL CREDITS AS A % OF GROSS REVENUE 34.3% 25.3% LARGEST 4 COMPETITORS1 1. Source: Estimates based on state reported data, publicly available data, analyst reports and
Slide 14: Strong Player Value & Retention
STRONG PLAYER VALUE & RETENTION • Increasing player value over time – Over $6k per player for older cohorts1 • Strong retention and new markets expected to drive continued revenue growth Avg LTV for All US & Ontario Quarterly Net Revenue by Yearly Cohort ($MM) 2 Cohorts Since Inception1 Launches (s)
Slide 15: Customer Feedback & App Ratings
CUSTOMER FEEDBACK & APP RATINGS “Simply marvelous. I think it’s a very good App and I “I couldn't believe at how fast I was able to deposit and was waiting for it because now I log in in using verify my account. The process of sending documents is fingerprint. It's superb, I hope you continue like t
Slide 16: Strong US & Canadian Growth
STRONG US & CANADIAN GROWTH RSI has consistently grown its user base while simultaneously growing revenue per user. MAUs were up 11% in online casino markets in 1Q23 Average Revenue Per Monthly Active User (“ARPMAU”) compared to 1Q221 $345 $325 $327 $325 $265 ARPMAU grew 23% in 1Q23 compared to 1Q22
Slide 17: Financial Overview
FINANCIAL OVERVIEW Investor Presentation | MAY 2023 17
Slide 18: Recent Performance
RECENT PERFORMANCE Total revenue grew 20% year-over-year in 1Q23 Maintained FY23 revenue guidance of $630MM – $700MM RSI Consolidated Revenue, 2Q19 – 1Q23 Growth Rate CAGR (2Q19 to 1Q23) 110% 165.5 162.4 143.7 148.0 130.6 134.9 122.8 122.9 111.8 100.0 78.2 65.0 35.0 28.0 17.0 10.0 2Q19 3Q19 4Q19 1Q2
Slide 19: Statements of Operations
STATEMENTS OF OPERATIONS Amounts in USD $000’s (except for shares and per share data) Three Months Ended March 31, 2023 2022 (Unaudited) (Unaudited) Revenue 162,361 134,938 Operating costs and expenses Costs of revenue 107,154 99,858 Advertising and promotions 49,940 66,849 General administration an
Slide 20: Statements of Comprehensive Loss
STATEMENTS OF COMPREHENSIVE LOSS Three Months Ended Amounts in USD $000’s (except for shares and per share data) March 31, 2023 2022 (Unaudited) (Unaudited) Net loss $ (24,500) $ (52,270) Other comprehensive loss Foreign currency translation adjustment 344 1,514 Comprehensive loss (24,156) (50,756)
Slide 21: 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 22: Non-GAAP Measures: Adjusted EBITDA
NON-GAAP MEASURES: ADJUSTED EBITDA Three Months Ended Amounts in USD $000's March 31, 2023 2022 (Unaudited) (Unaudited) Net loss $ (24,500) $ (52,270) (-/+) Interest (income) expense, net (380) 222 (+) Income tax expense 2,800 2,002 (+) Depreciation and amortization 5,755 2,737 (+) Share-based compe
Slide 23: Non-GAAP Measures: Adjusted Operating Costs and Expenses
NON-GAAP MEASURES: ADJUSTED OPERATING COSTS AND EXPENSES Amounts in USD $000's Three Months Ended March 31, 2023 2022 (Unaudited) (Unaudited) GAAP operating costs and expenses: Costs of revenue $ 107,154 $ 99,858 Advertising and promotions 49,940 66,849 General administration and other 21,592 15,540
Slide 24: 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 March 31, 2023 2022 (Unaudited) (Unaudited) Adjusted net loss: Net loss attributable to Rush Street
Slide 25: Capitalization
CAPITALIZATION Common Stock Type of Outstanding Equity as of March 31, 2023 Outstanding Class V Common Stock 154,455,584 Class A Common Stock 67,314,375 Total Outstanding 221,769,959 Investor Presentation | MAY 2023 25
Slide 26: 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