Rush Street Interactive shares climbed to a record high after the parent company of reported its strongest quarterly results, including record net revenue, net income, and adjusted EBITDA. The company also raised its 2026 financial outlook following the earnings release. The stock closed at $27.98, up 16.6% on the day. It has gained more than 126% over the past year.
Rush Street Interactive now expects adjusted EBITDA to range from $230 million to $250 million, reflecting year-over-year growth of roughly 50% to 63%, compared with its earlier forecast of $210 million to $230 million.
Revenue guidance was also lifted, with the company now projecting between $1.49 billion and $1.54 billion, representing growth of 31% to 36%. Its previous outlook had called for revenue between $1.375 billion and $1.425 billion.
CFO Kyle Sauers noted that the upper end of the EBITDA range would be slightly higher if not for planned investments tied to upcoming market expansion initiatives.
Rush Street Interactive said it remains focused on expanding its online casino rather than prioritizing sportsbook operations, a strategy it credits for its recent performance. The company pointed to higher-margin iGaming as a key driver of profitability.
“Our continued momentum demonstrates the strength of our casino-first strategy, the effectiveness of our operational execution and the powerful momentum we’re building across our business,” CEO Richard Schwartz said, adding that revenue is scaling from a larger base while profitability is improving at an even faster rate.
Rush Street Interactive is not alone in shifting focus toward online casino as a primary growth driver.
Major operators such as BetMGM and Caesars Entertainment have also increasingly emphasized iGaming due to its higher margins and more stable revenue compared to sportsbook operations. Across the industry, companies are directing more resources toward casino products, where customer value is less dependent on recurring promotions.
This broader trend reinforces a move away from aggressive sportsbook incentives, as operators prioritize profitability and long-term returns over market share driven by heavy promotional spending.
Rush Street Interactive’s continued emphasis on online casino over sportsbook operations could signal a less appealing environment for sports bettors.
As the operator prioritizes higher-margin iGaming, sportsbook offerings may see reduced promotional spending, including fewer bonuses, free bets, and odds boosts that have been used to attract and retain customers.
This shift can also coincide with inflated pricing, meaning odds may be less favorable. While the sportsbook remains part of the overall offering, bettors won’t have access to previous levels of promotions at BetRivers.
