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 Leads Growth
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.
World Cup Activity Supports Acquisition and Engagement
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 Investment to Increase
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 to $10 million above the second-quarter level, including Alberta-related spending.
He said the additional investment was not a reaction to competitors’ spending or prediction markets, but rather reflected attractive customer economics and improvements in the company’s marketing programs and technology.
The Alberta launch is still in its early stages, but Schwartz said population-adjusted first-time depositors and daily active users were tracking at roughly twice the level observed in Ontario at the same point after its launch. Management expects Alberta’s market development to be gradual as it transitions from an unlicensed market.
Guidance Raised; Colombia Tax Remains a Variable
Rush Street Interactive raised its full-year revenue outlook to a range of $1.56 billion to $1.60 billion, representing growth of 38% to 41%. The midpoint of $1.58 billion is $65 million above the company’s previous outlook.
The company also lifted its adjusted EBITDA forecast to $245 million to $265 million, representing year-over-year growth of 59% to 72%. The midpoint of $255 million is $15 million above previous guidance and incorporates increased second-half marketing spending.
- Second-quarter gross margin: 35.5%
- Second-quarter adjusted EBITDA margin: 16.4%
- Cash as of June 30: $340 million
- Debt: Zero
In May, the company repurchased approximately $29 million of shares through its existing $50 million repurchase authorization. Its board also approved a new $100 million share repurchase program.
Management maintained its assumption that Colombia’s 16% gross gaming revenue tax will remain in effect through year-end. Schwartz said Colombia’s newly elected president is expected to take office shortly and that the company views the incoming administration’s pro-business agenda as a potentially constructive development. However, he said the government’s review of prior tax decrees and future budget decisions remains unresolved.
Rush Street Interactive also said it filed an application for a Commodity Futures Trading Commission Designated Contract Market license during the quarter. Schwartz said the filing is intended to preserve strategic flexibility as prediction markets develop, while emphasizing that the company does not intend to focus on the sports-oriented prediction market segment.
About Rush Street Interactive (NYSE:RSI)
Rush Street Interactive NYSE: RSI is a digital gaming and sports betting company that develops and operates online wagering platforms in regulated markets. As a subsidiary of Rush Street Gaming, the company specializes in delivering interactive casino games, live dealer experiences, and sports betting services through desktop and mobile applications. Its technology infrastructure is designed to support real-time wagering, secure transactions, and responsible gaming tools across multiple jurisdictions.
The company’s flagship brand, BetRivers, offers a range of casino titles—including slots, table games, and virtual sports—alongside a comprehensive sportsbook featuring pre-game and in-play betting markets.
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