RSI Posts Q3 Results, Reports 10th Consecutive Quarter of Growth

Online gaming and betting leader Rush Street Interactive (RSI) has published its financials for the three-month period ended September 30, 2025 (Q3), reporting record-breaking quarterly revenue. The company’s favorable performance caused it to increase its full-year guidance.

RSI’s Revenues Continued to Soar

In its report, RSI outlined revenue of $277.9 million, representing an increase of 20% compared to $232.1 million in the prior-year period. As mentioned, this figure marked a new quarterly record, highlighting the company’s favorable position.

In the meantime, RSI reported net income of $14.8 million, marking a stellar increase from $3.2 million in Q3 2024.

The company’s adjusted EBITDA also skyrocketed, reaching $36 million for Q3 2025. This marked an increase of 54% from Q3 2024, when RSI reported adjusted EBITDA of $23.4 million.

RSI also noted a very slight decrease (of 1%) in adjusted sales and marketing expenses to $38.1 million. This showed that the record-breaking revenue was achieved without an increase in expenses.

The favorable Q3 results were underpinned by a 34% increase in total monthly active users (46% increase in iGaming markets) in the US and Canada to 225,000. Monthly active users in Latin America, meanwhile, increased to 415,000, up 30% year-on-year.

On average, active users in the US and Canada spent $365 for the quarter. Their Latin American counterparts, on the other hand, spent an average of $27.

The Company Raised Its Guidance

Emboldened by the strong Q3 2025 results, RSI announced that it is raising its guidance for the year. The company added that it now expects FY 2025 revenue of between $1.1 billion and $1.12 billion. The midpoint of this range ($1.11 billion) would represent an increase of 20% compared to 2024, when the company reported revenue of $924 million.

In the meantime, RSI amended its adjusted EBITDA guidance to a range from $147 million to $153 million. The midpoint of this range ($150 million) would mark a whopping 62% growth YOY. For comparison, RSI reported adjusted EBITDA of $92.5 million for 2024.

RSI Pursues Long-Term Success

Richard Schwartz, CEO of RSI, weighed in on the results, saying that his team is pleased with the company’s continued strength. He attributed the robust results to a variety of factors, including the company’s player-first approach and continued growth in key markets.

Schwartz added that Q3 2025 was RSI’s 10^th consecutive quarter of sequential revenue growth over the previous quarter. He was especially pleased with his team’s performance in North America and success in attracting new customers.

As we look ahead, we remain deeply committed to our player-first approach, delivering exceptional experiences and innovating in ways to drive engagement, positioning us for continued momentum and long-term success.

Richard Schwartz, CEO, RSI

Earlier this year, RSI became one of the companies forced to adapt to Illinois’ new tax policy. Instead of introducing a surcharge like some of its competitors, RSI opted to adopt a minimum bet size of $1, allowing it to cope with the new regime.