Rush Street Interactive Q2 Earnings Call Highlights

Rush Street Interactive NYSE: RSI reported record second-quarter revenue and adjusted EBITDA as growth in online casino, Latin America and player acquisition accelerated during the period.

Revenue for the second quarter of 2026 rose 46% year over year to $393.8 million, while adjusted EBITDA increased 61% to $64.6 million. Net income was $29.3 million, compared with $28.8 million in the prior-year quarter.

CEO Richard Schwartz said the company delivered its fastest quarterly revenue growth in more than four years, supported by its casino-first strategy, operating execution across regions and activity surrounding the World Cup.

Online casino represented 72% of Rush Street Interactive’s quarterly revenue, with online sports betting accounting for most of the remaining 28%. Schwartz said online casino remains the company’s primary value driver and its fastest-growing product segment in both North America and Latin America.

Online casino revenue increased 40% year over year during the quarter, while online sports betting revenue rose 64%. North American revenue grew 23%, and Latin American revenue increased 195%. Monthly active users in North America rose 51% from a year earlier to more than 296,000. Active users in the company’s North American online casino markets increased 64%. In Latin America, including Mexico, monthly active users climbed 62% to more than 652,000.

North American average revenue per monthly active user, or ARPMAU, was $320, down 18% year over year but modestly higher than the first quarter. President and CFO Kyle Sauers said the decline reflected elevated player acquisition, as newer customer cohorts initially generate lower value than more established players.

Latin American ARPMAU increased 82% to $55, reflecting regional strength, the elimination of bonusing in Colombia to offset the prior year’s deposit tax, and favorable Colombian currency movements, Sauers said.

Management said the World Cup produced favorable results in player acquisition, reactivation, sports betting handle and hold. In June and through July, monthly active users in Latin America were up more than 80%, according to Schwartz. More than 25% of first-time depositors acquired during the World Cup engaged with the company’s casino product, a rate about 50% higher than during the Copa América two years earlier. Schwartz said the figure supported the company’s view that its cross-sell improvements have been effective.

The company reported its highest sports hold in Colombia since inception during the second quarter, driven by World Cup results. North America also posted its highest sports hold since inception, supported by the NBA playoffs and World Cup activity, as well as an improving mix of parlays and prop bets. Sauers said favorable sports hold contributed approximately $10 million to second-quarter revenue. Excluding that benefit, he said the company expects third-quarter revenue at the midpoint of its outlook to be about $10 million higher than the second quarter.

Marketing expense totaled $48.6 million, up 34% year over year, but declined as a percentage of revenue to 12.3% from 13.4%. Sauers said the company continued to reduce player acquisition costs while player values remained strong. As a result, Rush Street Interactive plans to increase marketing investment during the second half, including in Alberta following its July 13 launch of online casino and sports betting in the province. Sauers said third-quarter marketing spending could be approximately $7 million t...