Rush Street Interactive Suffers Smaller Losses in the Second Quarter Compared to the First

Rush Street Interactive Suffers Smaller Losses in the Second Quarter Compared to the First

RSI reports a net loss of $28.3 million in the second quarter. However, this is significantly less than the figures for the first quarter — then the loss amounted to $52.3 million. This paints a relatively good picture.

In terms of revenue, in Q2, it was 17% year-on-year, up from $122.8 million to $143.7 million. However, in contrast to this, advertising costs increased by 20%.

As a result, compared with the second quarter of last year, the company suffered larger net losses, which increased by $14,000,000. However, the cost of additional advertising had an effect. For example, the average income per MAU increased by 23% compared to the first quarter.

Rush Street Interactive CEO, Richard Schwartz, said the company had made progress on its profitability targets as a sixth market had shown a positive trend during the quarter, with five other markets also showing consistent improvements in profitability.

Schwartz added that RSI had significantly expanded its presence in the world, including through recent launches in the markets of Mexico and Ontario, and the legitimacy of gambling sites in those markets, as well as a large population, played into the company’s hands.

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Publication Author
Marcus Steel
Author of news
Marcus was born in the USA. He graduated from The University & Jepson Herbaria, University of California, Berkeley in 2016. Then Steel unsuccessfully tried to work in his father's company. In 2020, he decided to open his own gambling project but couldn’t find investors.
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