Rush Street Interactive, Inc.
- Open
- 29.97
- Day high
- 30.72
- Day low
- 29.97
- Prev close
- 29.74
- Volume
- 152K
- Mkt cap
- $3.3B
- P/E (TTM)
- 81.9
- EPS (TTM)
- $0.38
- P/B
- 20.5
- P/S
- 2.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$51.9M over the last 3 months (0 open-market buys, 21 sales)
- 🏛Institutions accumulating (13F)
Rush Street Interactive, Inc. (RSI) is a Consumer Cyclical company listed on NYSE. The stock is up 100% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 21 sales (SEC Form 4).
Rush Street Interactive, Inc. (RSI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RSI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.12 | $0.14 | +16.7% | $370M | +12.0% |
| Feb 17, 2026 | $0.10 | $0.08 | -20.0% | $325M | +2.0% |
| Oct 29, 2025 | $0.07 | $0.09 | +28.6% | $278M | -8.9% |
| Jul 30, 2025 | $0.07 | $0.11 | +57.1% | $269M | +4.6% |
| Apr 30, 2025 | $0.08 | $0.09 | +12.5% | $262M | +5.9% |
| Feb 26, 2025 | $0.09 | $0.07 | -22.2% | $254M | +3.6% |
| Jul 31, 2024 | $0.00 | $0.04 | +3503.6% | $220M | +9.4% |
| May 1, 2024 | $0.01 | $0.03 | +241.7% | $217M | +10.4% |
| Mar 6, 2024 | $-0.06 | $0.01 | +116.7% | $194M | +8.4% |
| Nov 1, 2023 | $-0.06 | $-0.03 | +50.0% | $170M | -5.1% |
| Aug 2, 2023 | $-0.07 | $-0.04 | +42.9% | $165M | +4.7% |
| May 3, 2023 | $-0.12 | $-0.08 | +33.3% | $162M | +5.4% |
RSI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 26, 2026 | WIERBICKI PAULdirector, officer: Chief Legal Officer | Option | 6,926 | $10.70 |
| Jun 26, 2026 | Sauers Kyleofficer, other: Chief Financial Officer | Option | 46,728 | $3.28 |
| Jun 26, 2026 | WIERBICKI PAULdirector, officer: Chief Legal Officer | Option | 3,074 | $5.79 |
| Jun 26, 2026 | WIERBICKI PAULdirector, officer: Chief Legal Officer | Sell | 10,000 | $30.12 |
| Jun 5, 2026 | Markell Jack A.director | Tax | 3,406 | $25.42 |
| Jun 5, 2026 | Winter Thomasdirector | Tax | 3,296 | $25.42 |
| Jun 5, 2026 | Sauers Kyleofficer, other: Chief Financial Officer | Sell | 23,000 | $25.44 |
| Jun 3, 2026 | SCHWARTZ RICHARD TODDdirector, officer: Chief Executive Officer | Sell | 55,556 | $25.58 |
| Jun 3, 2026 | STETZ MATTIASofficer: Chief Operating Officer | Sell | 20,000 | $25.63 |
| Jun 3, 2026 | SCHWARTZ RICHARD TODDdirector, officer: Chief Executive Officer | Sell | 47,222 | $25.58 |
| May 6, 2026 | SCHWARTZ RICHARD TODDdirector, officer: Chief Executive Officer | Sell | 53,250 | $24.96 |
| May 6, 2026 | STETZ MATTIASofficer: Chief Operating Officer | Sell | 11,175 | $24.96 |
| May 6, 2026 | BLUHM NEILdirector, 10 percent owner, officer: Executive Chairman | Sell | 1,371,150 | $24.96 |
| May 6, 2026 | Sauers Kyleofficer, other: Chief Financial Officer | Sell | 23,000 | $28.39 |
| May 1, 2026 | SCHWARTZ RICHARD TODDdirector, officer: Chief Executive Officer | Sell | 55,556 | $28.13 |
Source: RSI SEC Form 4 filings, latest Jun 26, 2026. For informational purposes only — not investment advice.
See the full RSI insider & 13F page →Rush Street Interactive, Inc. company profile
Overview
Rush Street Interactive, Inc. (NYSE:RSI) is a Chicago-based online gambling company that operates digital casino and sports betting platforms across the United States and Latin America. Founded in 2012, the company went public in April 2020 and has since established itself as a prominent player in the rapidly expanding online gaming industry. RSI operates under several brand names including BetRivers.com, PlaySugarHouse.com, and RushBet.co, offering real-money online casino games, sports betting, and social gaming services to customers in regulated markets.
Business
Rush Street Interactive operates in the online gambling industry, which encompasses digital versions of traditional casino games and sports wagering that can be accessed through websites and mobile applications. The company's core business revolves around two primary verticals: online casino gaming (iGaming) and online sports betting. The online casino segment includes digital slot machines, table games like blackjack and roulette, live dealer games where players interact with real dealers via video stream, and poker games. These games operate on the same principles as their physical casino counterparts but are accessed through digital platforms. Players deposit real money into their accounts and can win or lose based on game outcomes, with the house maintaining a mathematical edge that generates revenue over time. The sports betting segment allows customers to place wagers on various sporting events, from professional leagues like the NFL and NBA to international competitions. This includes traditional pre-game betting, live in-game wagering, and specialized betting products like parlays (combining multiple bets) and proposition bets on specific game events. RSI operates in two main geographic segments: North America (primarily the United States and Canada) accounts for approximately 84% of total revenue, while Latin America (including Colombia, Mexico, and Peru) represents about 16% of revenue. The company has established operations in 16 North American markets and continues expanding its Latin American presence, with recent launches in Mexico and Peru showing strong growth trajectories.
Revenue model
Rush Street Interactive generates revenue through gross gaming revenue (GGR), which represents the total amount wagered by players minus the winnings paid out to them. This is the standard business model for gambling operators, where the company retains a percentage of all money wagered based on the mathematical house edge built into games and betting odds. For online casino games, the company earns revenue from the house edge, which varies by game type but typically ranges from 1-5% of total wagers. Sports betting revenue comes from the "vigorish" or "juice" - the commission built into betting odds that ensures the house maintains an edge regardless of betting outcomes. The company also generates ancillary revenue from advertising partnerships and promotional activities. RSI's paying customers are individual consumers who deposit real money to play games or place bets. The company focuses on acquiring high-value players with strong lifetime value characteristics, measuring success through metrics like Monthly Active Users (MAUs) and Average Revenue Per Monthly Active User (ARPMAU). North American players generate significantly higher ARPMAU ($346) compared to Latin American players ($39), reflecting differences in market maturity and economic conditions. Several factors influence the company's margins and profitability. Regulatory changes such as tax rate increases (like the recent changes in Illinois and Colombia) directly impact net revenue. Marketing efficiency plays a crucial role, as customer acquisition costs must be balanced against lifetime value. Competition intensity affects both marketing costs and the promotional offers needed to attract players. Product mix also matters, as online casino games typically generate higher margins than sports betting due to more predictable mathematical outcomes. Seasonal factors influence sports betting volume, with major sporting events like the Super Bowl and March Madness driving increased activity and marketing spend.
Competitive moat
Rush Street Interactive operates in a moderately defensible position within the online gambling industry, though its moat is not particularly strong compared to other business models. The company's primary competitive advantages stem from regulatory barriers to entry and technological capabilities. The most significant moat comes from the licensing requirements in regulated gambling markets. Each state and country where RSI operates requires specific licenses that involve lengthy approval processes, background checks, and ongoing compliance obligations. This creates meaningful barriers for new entrants and limits the number of competitors in each market. However, this protection is not exclusive to RSI, as other established operators face the same regulatory framework. RSI has developed proprietary technology with most of its platform built in-house, allowing for customization and unique product features like their "Squares" game and PropPacks promotional tools. The company emphasizes creating differentiated user experiences through personalization engines and community features that may help with customer retention. However, the company faces significant competitive threats. Larger operators like DraftKings, FanDuel, and BetMGM have substantially greater marketing budgets and brand recognition. Technology disruption remains a constant threat, as the digital nature of the business means that innovative features can be quickly replicated by competitors. The emergence of sweepstakes platforms that operate in legal gray areas poses additional competitive pressure. The company's expansion into Latin American markets provides some geographic diversification, but these markets are still developing and face their own regulatory uncertainties. Overall, while RSI has carved out a profitable niche in several markets, its competitive position relies heavily on execution excellence rather than structural advantages, making it vulnerable to well-funded competitors and regulatory changes.
Risks & safety
Rush Street Interactive maintains a strong financial position with substantial liquidity and minimal debt, though valuation metrics suggest limited margin of safety at current levels. Liquidity and Solvency: - Cash and short-term investments: $228 million as of Q1 2025 - Current ratio: 1.66x indicating solid short-term liquidity - Debt-to-equity ratio: 0.0 (essentially debt-free) - Positive free cash flow: $28.5 million in Q1 2025, $77 million for full year 2024 - No immediate solvency concerns given strong cash position and profitable operations Valuation Metrics: - Price-to-earnings ratio: 47.3x (elevated for current earnings level) - EV/EBITDA: 8.1x (reasonable for growth company) - Price-to-book ratio: 12.4x (high, reflecting premium valuation) - Graham number: 1.05 (stock trading above conservative valuation metrics) Other Considerations: - Revenue growth: 21% year-over-year in Q1 2025 - EBITDA margins improving: 9.2% in Q1 2025 vs 2.3% in Q4 2024 - Regulatory risks in key markets could impact future profitability - Competitive market requiring continued marketing investment
Recent development
Over the past few years, Rush Street Interactive has executed a geographic expansion strategy while simultaneously improving operational efficiency and profitability. The company has successfully diversified beyond its original core markets of Pennsylvania and Illinois, with these markets now representing only 38% of total revenue compared to a much higher percentage historically. The most significant strategic development has been the Latin American expansion, starting with Colombia and subsequently launching in Mexico and Peru. This international growth has been particularly successful, with Latin American revenue growing 54-73% year-over-year in recent quarters and now representing 16% of total company revenue. Mexico has shown especially promising early results, achieving profitability in its first quarter and growing faster than Colombia's initial launch trajectory. RSI has also focused heavily on marketing efficiency improvements, reducing customer acquisition costs by approximately one-third in North America while simultaneously increasing the number of first-time depositors. The company hired its first Chief Marketing Officer and has invested in sophisticated promotional tools and personalization engines to improve targeting and retention. Product innovation has been another key focus area, with the launch of unique features like PropPacks for sports betting, enhanced loyalty programs through iRush Rewards, and community engagement features. The company has maintained its strategy of developing most technology in-house, allowing for rapid customization and differentiation. Recent financial achievements include reaching adjusted EBITDA profitability ahead of original targets, with margins expanding from negative territory in 2022-2023 to positive 9.2% in Q1 2025. The company has also initiated a $50 million share buyback program and raised revenue guidance multiple times, demonstrating confidence in its growth trajectory.
RSI company profile · for informational purposes only — not investment advice.
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