The following is a summary of the Rush Street Interactive, Inc. (RSI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Rush Street Interactive reported a Q1 revenue of $217 million, up 34% year-over-year, and an EBITDA of $17 million, showcasing a $26 million improvement year-over-year.

• Gross profit margin experienced growth, hitting 33.7% in Q1, primarily due to balanced growth across iCasino and online sports betting.

• The projected full year revenue ranges between $810 million and $860 million, with a projected EBITDA of between $50 million and $60 million.

Business Progress:

• Significant growth was observed in both new and mature markets, with considerable contribution from the markets other than Illinois and Pennsylvania.

• The company saw positive signs in player acquisition and retention, marked by a noteworthy increase in North American and Latin American users.

• Investments in Colombia and Mexico have been profitable, yielding substantial revenue growth.

• Future focus shall be on developing unique gaming experiences and maintaining marketing efficiency with lowering CPAs, utilizing unique strategies such as the BetRivers Network.

• The company plans on expanding to new markets such as Peru and is open to potential mergers and acquisitions to boost growth.

• Additionally, substantial growth in the live dealer category, as well as profitability from Mexico, foresees a promising future for the company.

More details: Rush Street Interactive IR

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