Rush Street Interactive posts record quarter and raises full-year guidance
US online gaming operator Rush Street Interactive (RSI) has reported record first-quarter revenue of $370 million. The operator behind the BetRivers, PlaySugarHouse and RushBet brands is seeing accelerating user growth and has raised its full-year guidance, driven by strong momentum in online casino and Latin America.
A record quarter
According to its official report, RSI ended the first quarter of 2026 with record results across all key metrics and immediately raised its full-year outlook. The results continue a trend that started in 2025, when the company surpassed $1 billion for the first time. Revenue reached $1.13 billion, up 23 per cent year-on-year, and adjusted EBITDA of $153.7 million, which is more than the top end of its own guidance.
Revenue in Q1 reached $370.4 million, up 41 per cent from $262.4 million in Q1 2025. For comparison, revenue growth in Q1 2025 was 21 per cent versus Q1 2024. The pace is accelerating for the second consecutive year.
Net income reached $26.2 million, marking a substantial increase of 134 per cent from the $11.2 million recorded in Q1 2025. Adjusted EBITDA reached $60.2 million, representing an 81 per cent increase from $33.2 million a year earlier. Both figures represent new quarterly records for the company.
Analysts had forecast revenue of $332.9 million and EBITDA of $48.2 million. RSI beat both consensus estimates by 11 per cent and 25 per cent respectively, while holding marketing expenditure to 12.5 per cent of revenue, or $46.2 million. The combination of accelerating growth and operational discipline is the defining message of the quarter.
Validating the customer-centric model
The number of monthly active users (MAU) reached around 839,000, which is 51 per cent more than in the first three months of 2025. RSI has now recorded accelerating MAU growth for four consecutive quarters, a rare trend among mature online operators.
In North American online casino markets, MAU grew 62 per cent, with first deposits reaching a record high. Average revenue per monthly active user (ARPMAU) in the United States and Canada was $317.
Richard Schwartz, Chief Executive Officer of RSI, commented on the results: “The acceleration in both revenue and player growth is particularly impressive. In North American online casino markets, MAU grew 62 per cent, reaching a record for first deposits, driven by disciplined marketing spend. This validates our customer-centric model.”
Latin America: from first mover to market leader
Latin America remains a key pillar of RSI’s long-term growth strategy, as evidenced by robust performance in Q1 2026. MAU in the region, including Mexico, reached 543,000, representing a 54 per cent year-on-year increase. ARPMAU was $54. The $263 gap relative to the North American figure reflects the region’s stage of development rather than weakness: Latin America is currently focused on user acquisition, rather than achieving mature monetisation.
RSI’s Latin American strategy targets development in existing markets, Mexico, Peru and Colombia, alongside potential entry into Brazil, Chile, Ecuador and Argentina. The company estimates the region’s total addressable market at $25.8 billion by 2028. Despite regulatory complexities, RSI considers Latin American markets more favourable from a tax perspective than several US states.
Alberta and the full-year outlook
RSI’s next operational milestone is a launch in the Canadian province of Alberta, scheduled for July 2026, which will extend the company’s Canadian footprint beyond Ontario.
Following the record quarter, RSI has raised its full-year guidance. Revenue for 2026 is now forecast at $1.49–1.54 billion, representing growth of 31–36 per cent against $1.13 billion in 2025. Adjusted EBITDA is projected at $230–250 million, implying growth of 50–63 per cent from $153.7 million in the prior year.
Schwartz summarised the company’s position: “We are growing our player base quickly and profitably. Our goal is an outstanding experience for players and long-term value for shareholders.”
*Adjusted EBITDA and marketing expenditure figures are non-GAAP measures. For reconciliation to GAAP, see the company’s official financial statements.
This article was first published in Russian on 5 May 2026.
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