Rush Street Interactive reported first‑quarter 2026 revenue of $370.4 million, a 41% year‑over‑year increase that surpassed the consensus estimate of $330.42 million by more than 12%. The jump was driven by a 39% rise in online casino revenue and a 47% rise in sports‑betting revenue, with the North American segment growing 26% and Latin America expanding 134%.
Net income climbed to $26.2 million, up 134% from the same period last year, while adjusted EBITDA reached $60.2 million, an 81% increase. Gross margin improved to 35.7%, an 80‑basis‑point lift, and adjusted EBITDA margin expanded to just over 16% as marketing expense fell to 12.5% of revenue from 14.8% a year earlier. The company’s CEO, Richard Schwartz, said, "We are pleased to report another strong quarter of results, setting new records once again for revenue, net income and adjusted EBITDA."
Earnings per share of $0.14 beat the consensus estimate of $0.12 by $0.02, a 16.7% beat. The EPS gain was largely attributable to the higher mix of high‑margin casino revenue and disciplined cost control, as CFO Kyle Sauers noted that marketing expense was $46.2 million, up 19% year‑over‑year, representing 12.5% of revenue versus 14.8% a year earlier.
The company raised its full‑year 2026 guidance to revenue of $1.490 billion to $1.540 billion and adjusted EBITDA of $230 million to $250 million, reflecting confidence in sustained demand and operational leverage. The guidance increase signals management’s belief that the momentum in both North American and Latin American markets will continue, especially with the upcoming Alberta launch and the removal of a VAT tax in Colombia that has freed up capital for player acquisition.
Management highlighted that the continued acceleration in player growth is particularly exciting. "The continued acceleration we've seen in revenue and player growth is particularly exciting. We've now achieved accelerating year‑over‑year player growth in each of the last four quarters, reflecting the strength in our business. In our North American online casino markets, MAUs grew an impressive 62%, surpassing the 51% growth we achieved in the fourth quarter of 2025," Schwartz added.
Investors welcomed the results, noting the strong revenue beat, margin expansion, and raised guidance as evidence of robust execution and a favorable competitive position in the iGaming sector.
The company’s strategic focus on a casino‑first model continues to deliver superior unit economics, enabling profitability in every new casino market launched. The combination of high‑margin casino revenue, efficient marketing spend, and scale‑driven cost discipline positions Rush Street Interactive to capitalize on growth opportunities in both established and emerging markets.
The earnings release also underscored the company’s resilience to headwinds such as competitive pressure in new markets and regulatory uncertainties, while tailwinds like the Colombian VAT removal and the Alberta launch are expected to further accelerate growth.
The results and guidance reinforce Rush Street Interactive’s trajectory toward higher profitability and expanded market share in both U.S. and Latin American jurisdictions.
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