Q1 results 2021

RSI raises full-year guidance after 217.6% YoY revenue growth in Q1

| By Robert Fletcher
Betting and igaming operator Rush Street Interactive (RSI) has raised its full-year guidance after reporting a 217.6% year-on-year increase in revenue during the first quarter of its financial year.

Revenue for the three months through to March 31 amounted to $111.8m (£79.5m/€92.3m), up from $35.2m in the same period last year and representing a new quarterly record for the operator.

RSI, which has generated record revenue in each quarter since Q2 of 2019, said ongoing growth within the business was primarily down to a sustained strong performance of its online casino division. The operator said online casino will continue to drive growth for the rest of 2021 and beyond.

Though RSI did not publish a full breakdown of revenue performance for its different divisions, it did state that online casino generated more revenue than online sports betting in three of its core states: Michigan, New Jersey and Pennsylvania.

In Michigan, online casino outperformed sports betting by 78.3% to 21.7%, while in New Jersey the split was 70.1% to 29.9% and in Pennsylvania 78.3% to 21.7%.

Read the full story on iGB North America.

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