Rush Street Interactive, Inc. · NYSE:RSI
Rush Street Interactive — Q1 2025 Earnings Presentation
29 slides from Rush Street Interactive's earnings presentation, Apr 30, 2025
Slide 1: Investor Presentation
Investor Presentation - April 2025 -
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 online gaming user experience and seasoned 1 management team 2 Rank in the top 5 operators for net revenue in iCasino and online sports betting in the United States Extensive market access to future iC
Slide 4: Company Highlights
Company Highlights Financial Highlights Business Highlights 1 Achieved record revenue of $262MM in 1Q25, up 21% Y-o-Y. 1 Grew Online Casino 25% and OSB revenue 11% Y-o-Y. Grew Adjusted EBITDA to a record $33MM in 1Q25, up 95% Y-o-Y as flow- US and Canadian markets launched since 2021, combined with
Slide 5: RSI's Market Access Creates Growth Opportunity and Paves the Way for iCasino
Online Sports Retail Sports RSI’s Market Access Creates Growth Markets iCasino Betting Betting Domestic Opportunity and Paves the Way for iCasino Arizona Colorado Delaware Market Access Partner of Choice Illinois Indiana RSI benefits from a larger potential TAM than most competitors due to Iowa Loui
Slide 6: Key Positioning in iCasino Markets
Key Positioning in iCasino Markets RSI is a top tier operator in all visible markets, operating in as many states as any other operator in the U.S. United States and Canada % of U.S. Adult Population in iCasino and OSB Markets West Delaware1 Pennsylvania Michigan New Jersey Ontario Virginia 39% 88%
Slide 7: Beachhead to Grow New Markets in LATAM
Beachhead to Grow New Markets in LATAM Existing Core Markets Population: 53MM COLOMBIA GDP per capita: $7.3k Regulatory Status: iCasino and OSB regulated Population: 131MM MEXICO GDP per capita: $15.4k Regulatory Status: iCasino and OSB regulated Population: 34MM Latin America PERU GDP per capita: $
Slide 8: Scalable Platform Proven to Increase Retention and Player Values
Scalable Platform Proven to Increase Retention and Player Values ROBUST, SCALABLE ARCHITECTURE REGULATORY COMPLIANCE & RESPONSIBLE GAMING (“RG”) • Best-in-class RG gaming tools including non-cancellable • Modern end-to-end technology stack with modular withdraw and refund processes, architecture & c
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 70+[TBD – Design working on relevant imagery] 5000+ • Frequently first to
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 supports a broad range of casino game
Slide 11: iCasino Demonstrates Immediate Growth Stream in Delaware
iCasino Demonstrates Immediate Growth Stream in Delaware Since exclusive state operator takeover in late Dec ‘23, RSI has demonstrated aggressive growth with strategic mix of proprietary product features, land-based partnerships, and bespoke advertising approach. Highlights: $87.3 MM Gross Gaming Re
Slide 12: Sportsbook Promotional Features
Sportsbook Promotional Features BetRivers has upped the stakes for sports bettors with exciting gamified betting features on qualifying same game parlay bets. BetRivers once again offered players Squares on qualifying football bets, and for the NBA, our new PropPacks promotion – both games offer pla
Slide 13: iRush Rewards Updated Loyalty Program
iRush Rewards Updated Loyalty Program In August 2024, RSI rolled out our revamped loyalty program (iRush Rewards) across our owned and operated brands: BetRivers, PlaySugarHouse, and RushBet. The reimagination of the program at RSI was designed to make loyalty rewards easier and ultimately more rewa
Slide 14: 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 over 6x higher than • iCasino TAM is more than 3x the size of online sports diversificat
Slide 15: The BetRivers Network Enhances User & Brand Engagement
The BetRivers Network Enhances User & Brand Engagement RSI's in-house media outlet produces YouTube-focused content, including must-watch poker, iGaming companion entertainment, expert previews for key betting sports, and local sports shows for fans & bettors alike. Commentary • BetRivers Network sp
Slide 16: Strong Player Value & Retention
Strong Player Value & Retention • Increasing player value over time – approximately $5,000 per player after 57 months1 • Strong retention and new markets expected to drive continued revenue growth Avg LTV for All U.S. & Ontario Cohorts Since Inception1 Quarterly Net Revenue by Yearly Cohort ($MM) 2
Slide 17: Strong Growth Across Regions
Strong Growth Across Regions Demonstrated history of growing revenues across regions over the long-term from an expanding user base while maintaining strong revenue per user metrics U.S. & Canada1 LATAM2 Average Monthly Active Users (“MAUs”) Average Monthly Active Users (“MAUs”) Peru Launch 250,000
Slide 18: Award-Winning Customer Service
Award-Winning Customer Service RSI has won EGR “Customer Service Operator of the Year” 5 years straight – every year since the award’s inception Continuous Platform & Self-Service Enhancements Drive Faster Response Times and Elevated Customer Satisfaction Improved Net Promoter Score, First Contract
Slide 19: Nearly 150 Years of Collective C-Suite Gaming Industry Experience
Nearly 150 Years of Collective C-Suite Gaming Industry Experience RICHARD KYLE MATTIAS EINAR LAURA MCALLISTER PAUL ROB MICHELLE BRIAN SCHWARTZ SAUERS STETZ ROOSILEHT COX WIERBICKI PICARD ARMER SAPP Chief Executive Chief Financial Chief Operating Chief Information Chief Compliance Chief Legal Chief A
Slide 20: Financial Overview
Financial Overview RUSH
Slide 21: Historical MAU & ARPMAU
Historical MAU & ARPMAU 2025 2024 2023 2022 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Monthly Average Users (MAU) 556,355 538,705 487,243 446,578 394,011 357,197 278,586 289,676 274,450 298,365 218,465 225,166 238,083 North America 202,666 203,552 168,170 162,421 173,917 157,672 131,201 130,575 144,958
Slide 22: Statements of Operations
Statements of Operations Amounts in USD $000’s (except for shares and per share data) Three Months Ended March 31, 2025 2024 Revenue $ 262,407 $ 217,428 Operating costs and expenses Costs of revenue 170,883 144,523 Sales and marketing 42,139 38,404 General and administrative 25,317 25,868 Depreciati
Slide 23: Statements of Comprehensive Income (Loss)
Statements of Comprehensive Income (Loss) Amounts in USD $000’s Three Months Ended March 31, 2025 2024 Net income (loss) $ 11,211 $ (2,209) Other comprehensive income Foreign currency translation adjustment 4,527 101 Comprehensive income (loss) 15,738 (2,108) Comprehensive income (loss) attributable
Slide 24: 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 Income, Adjusted Earnings Per Share and Adjusted Weighted Average Common Shares Outstanding, each of which is defined below: Adju
Slide 25: Non-GAAP Measures: Adjusted EBITDA
Non-GAAP Measures: Adjusted EBITDA Amounts in USD $000's Three Months Ended March 31, 2025 2024 Net income (loss) $ 11,211 $ (2,209) (-) Interest income, net (1,699) (1,559) (+) Income tax expense 5,065 5,300 (+) Depreciation and amortization 9,491 7,101 (+) Share-based compensation expense 8,813 8,
Slide 26: 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, 2025 2024 (Unaudited) (Unaudited) GAAP operating costs and expenses: Costs of revenue $ 170,883 $ 144,523 Sales and marketing 42,139 38,404 General and administrative 25,317 25,868 Depreciatio
Slide 27: Non-GAAP Measures: Adjusted Net Income and Adjusted EPS
Non-GAAP Measures: Adjusted Net Income; Adjusted Weighted Average Common Shares Outstanding; Adjusted Earnings Per Share Amounts in USD $000's ( except for shares and per share data) Three Months Ended March 31, 2025 2024 Adjusted net income: (Unaudited) (Unaudited) Net income (loss) attributable to
Slide 28: Capitalization
Capitalization Common Stock Type of Outstanding Equity as of March 31, 2025 Outstanding Class V Common Stock 133,434,736 Class A Common Stock 95,010,439 Total outstanding 228,445,175 28
Slide 29: 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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