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Dec 31, 2020
Rush Street Q4 2020 Earnings Report
Reported first financial results as a public company with revenue growth achieved through rapid expansion in new and existing markets.
Key Takeaways
Rush Street Interactive reported a strong Q4 2020, with revenue reaching $100.0 million, a 260% increase year-over-year. The company was the second largest online casino operator in the US for the quarter and full year. Increased 2021 revenue guidance, reflecting strong Q4 results and anticipated growth from increased marketing spend.
Fourth quarter revenue increased by 260% year-over-year, reaching $100.0 million.
Full year 2020 revenue increased by 337% year-over-year, totaling $278.5 million.
The company was the second largest online casino operator in the US for the fourth quarter and full year 2020.
Full year 2021 revenue guidance raised 37% to between $420 and $460 million.
Rush Street
Rush Street
Forward Guidance
RSI expects revenues for the full year ending December 31, 2021 to be between $420 and $460 million.
Positive Outlook
- All professional and college sports calendars that have been announced come to fruition, including the commencement of their 2020 to 2021 seasons
- Continue to operate in states in which we are live today.
- Increased marketing spend funded with cash on hand
Challenges Ahead
- Changes in applicable laws or regulations.
- RSI’s ability to manage growth.
- RSI’s ability to execute our business plan and meet its projections.
- Unanticipated product or service delays.
- General economic and market conditions impacting the demand for RSI’s products and services.