Rush Street Interactive, Inc. (RSI), a leading online gaming and sports betting company, reported a record-breaking second quarter in 2025, with revenue reaching $269.2 million, a 22% increase from $220.4 million in Q2 2024.
The company, listed on the NYSE as RSI, also raised its full-year guidance, reflecting confidence in sustained growth. Operating brands like BetRivers, PlaySugarHouse, and RushBet, RSI continues to expand its presence in the United States, Canada, and Latin America.
RSI’s net income reached $28.8 million this past quarter, a stark improvement from a $0.3 million loss in Q2 2024. Adjusted EBITDA rose 88% to $40.2 million, driven by robust performance in online casino and sports betting.
The company’s first-half revenue hit $531.6 million, up 19.4% from 2024, positioning RSI to exceed $1 billion by year-end. Operating expenses increased to $492.4 million from $432.1 million, reflecting investments in growth.
The company’s user metrics also improved. In the U.S. and Canada, monthly active users (MAUs) grew 21% to 197,000, with average revenue per monthly active user (ARPMAU) hitting a quarterly high of $391. In Latin America, MAUs surged 42% to 403,000, though ARPMAU dropped to $30 due to a temporary 19% VAT on player deposits in Colombia.
Following its strong Q2, RSI revised its 2025 outlook. The company now projects full-year revenue between $1.05 billion and $1.1 billion, a 16% increase at the midpoint from 2024’s $924 million. Adjusted EBITDA is expected to range from $133 million to $147 million, a 51% rise at the midpoint from $92.5 million in 2024. These projections assume stable operations in current jurisdictions and consistent tax structures.
RSI operates three key brands: BetRivers, PlaySugarHouse, and RushBet.
PlaySugarHouse focuses on casino and sports betting in select U.S. states, including New Jersey and Pennsylvania. RushBet targets Latin American markets, notably Colombia, Mexico, and Peru, with strong growth in Mexico, where Q2 revenue rose 125% year-over-year.
Meanwhile, BetRivers offers sports betting and casino games across multiple U.S. states and international markets like Ontario, Canada, and is the brand that has seen recent expansion.
In 2025, RSI launched the BetRivers Sportsbook with the Swinomish tribe in Washington and the BetRivers Poker Network in four U.S. states. The company also became the Delaware Lottery’s exclusive iCasino operator in late 2023, generating $102 million in revenue in its first year, compared to $15.1 million by the previous operator.
Despite a 19% VAT in Colombia impacting profitability, RSI mitigated effects through a bonusing strategy, maintaining flat net revenue while growing gross gaming revenue by 70%. The company anticipates stronger growth in Colombia post-2025 when the VAT expires.
RSI’s total addressable market is estimated at $145 billion, with significant potential in Latin America, including future opportunities in Brazil, Chile, and Argentina.
