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RUSH STREET INTERACTIVE ANNOUNCES FIRST QUARTER 2023 RESULTS

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RUSH STREET INTERACTIVE ANNOUNCES FIRST QUARTER 2023 RESULTS

 

First Quarter Revenue of $162.4 Million, up 20% Year-over-Year –

Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States and the rest of the Americas, today announced financial results for the first quarter ended March 31, 2023.

First Quarter 2023 Financial Highlights

  • Revenue was $162.4 million during the first quarter of 2023, an increase of 20%, compared to $134.9 million during the first quarter of 2022.
  • Net loss was $24.5 million during the first quarter of 2023, compared to a net loss of $52.3 million during the first quarter of 2022.
  • Adjusted EBITDA1 loss was $8.7 million during the first quarter of 2023, compared to an Adjusted EBITDA loss of $43.4 million during the first quarter of 2022.
  • Adjusted advertising and promotions expense1 was $49.4 million during the first quarter of 2023, compared to $66.3 million during the first quarter of 2022.
  • Average revenue per Monthly Active User (“ARPMAU”) in the United States and Canada was $325 during the first quarter of 2023, up 23% year-over-year.
  • Revenue grew by more than 100% year-over-year in Latin America and North American markets launched after 2020.
  • As of March 31, 2023, RSI had $147 million of unrestricted cash and cash equivalents.

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1
 This is a non-GAAP financial measure. Please see “Non-GAAP Financial Measures” for more information about this non-GAAP financial measure and “Reconciliations of GAAP to Non-GAAP Financial Measures” for a reconciliation of the most comparable measure calculated in accordance with GAAP to this non-GAAP financial measure.

Richard Schwartz, Chief Executive Officer of RSI, said, “We are pleased with our first quarter results as we made great strides towards profitability with much improved Adjusted EBITDA performance. Revenues grew 20% compared to last year, propelled by more than 100% growth in Latin America and new markets launched in North America after 2020. Results were strong across our business lines with revenue growth in both online casino and online sportsbook.”

“On the back of these excellent results, we remain on track to achieving our goal of profitability for the second half of this year. We are staying disciplined in our approach and successfully balancing growth and profitability over the long run. Our results continue to show the approach is working well and we remain confident that our focused strategy will reward our shareholders over the long term.”

Guidance

RSI expects revenue for the full year ending December 31, 2023 to be between $630 and $700 million, unchanged from its previous expectations. At the midpoint of the range, revenue of $665 million represents 12% year-over-year growth when compared to $592 million of revenues for 2022.

This range is based on certain assumptions, including that (i) only operations in live jurisdictions as of today’s date are included, (ii) all professional and college sports calendars that have been announced come to fruition, including the completion of their 2023 seasons, and (iii) RSI continues to operate in markets in which it is live today, except for Connecticut.

Recent Business Highlights

  • Launched the innovative BetRivers Michigan Million™ slot tournament, introducing the first-of-its-kind online casino experience.
  • Extended our proprietary squares engine to basketball, driving strong improvement in average bet size and more than doubling same-game parlays as a % of total bets.
  • Crowned Customer Service Operator of the Year at the EGR North America Awards 2023, earning this award for the fourth year in a row.
  • Added award winning sportscaster & reporter Julie Stewart-Binks to our growing roster of sports and gaming experts and content creators who connect and engage with fans.
  • Continued profitable growth in casino markets, including Ontario, Colombia, and West Virginia where we increased estimated market share sequentially during the first quarter.

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GLI® Promotes Andrea Bossard to Senior Director, Engineering

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GLI® Promotes Andrea Bossard to Senior Director, Engineering

 

Gaming Laboratories International (GLI®) has promoted Andrea Bossard to Senior Director of Engineering. In her new role, she will focus on maximizing the customer experience and optimizing GLI’s delivery for many land-based suppliers, regulators, and operators globally.

She began her career at GLI in 2006 with a background in QA testing coupled with an education in mathematics and computer science. Throughout her 18+ year GLI career, she has held many lead and management roles, producing results and providing her with the experience to elevate to this position.

“Leaders like Andrea inspire us all to simultaneously drive a world-class experience for both GLI’s customers and employees. She promotes deep, meaningful connections in order to accomplish this, setting a standard for us all to follow,” said GLI Chief Delivery Officer Mackenzie Haugh.

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Scientific Games Announces New Player Acquisition Project with AppsFlyer

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Scientific Games Announces New Player Acquisition Project with AppsFlyer

 

Scientific Games has partnered with marketing attribution and analytics platform AppsFlyer, on an innovative project supporting U.S. lotteries. The project will integrate data from all social media, search engines and other mobile and web apps to help optimize lottery digital ad campaigns and new player acquisition.

During the six-month project with Scientific Games offered through the SG Digital Academy, state lotteries will partner with AppsFlyer for audience activation and insights to measure their digital advertising with a complete view of consumer analytics across dozens of apps like Google, Facebook, Snapchat and Instagram.

AppsFlyer empowers brands to better measure and understand the business impact of their end-to-end marketing initiatives. Through privacy-first collaboration and analytics, AppsFlyer works with the world’s leading brands, including Walmart, HBO, Etsy and JPMorgan Chase & Co. to create exceptional customer journeys, preserve customer privacy and adapt their marketing campaigns through data-driven analytics and insights.

“Working alongside analytical, innovative partners like Scientific Games gets to the core of why we do what we do at AppsFlyer,” said Carolyn Bao, AppsFlyer VP of Marketing. “We’re thrilled to be partnering with the Scientific Games’ participating lottery customers to empower their growth and provide them with real-time marketing analytics and actionable insights. Their use of a wide range of AppsFlyer solutions will help optimize their player acquisition efforts and campaign performance across multiple channels.”

Merv Huber, Vice President of Digital Growth for Scientific Games, said, “In a competitive advertising environment, lotteries must make the most of their budgets and resources to grow responsibly and maximize revenue for their good cause programs. Understanding every aspect of the consumer journey is key to player acquisition. SG Digital Academy’s partnership with AppsFlyer will help participating lotteries make informed, data-driven decisions about their digital ad campaigns and ultimately grow their player base.”

The participating lotteries will have access to AppsFlyer’s platform and dashboards to identify the sources of new player acquisitions, measure campaign performance in real time and understand player behavior and engagement. The platform’s advanced measurement tools help lotteries to determine the best advertising strategy for their needs. They will also receive training and technical support, as well as access to Scientific Games’ world-leading analytics and insights services.

Fostering collaboration with industry experts, SG Digital Academy serves as a catalyst for transformative growth, facilitating the exchange of advanced insights and best practices to empower lotteries to navigate and thrive in an ever-evolving digital landscape.

Scientific Games’ award-winning Customer Relationship Management team manages CRM programs for 12 U.S. lotteries. The company is a trusted partner to 150 lotteries in 50 countries around the globe, providing games, technologies, analytics and services that responsibly drive maximum returns to their beneficiary programs.

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Playtech Live and Sony Pictures Television extend agreement for Who Wants to be a Millionaire? until 2028

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Playtech Live and Sony Pictures Television extend agreement for Who Wants to be a Millionaire? until 2028

 

Playtech, has announced a two-year extension to its exclusive agreement with Sony Pictures Television to produce Live experiences based on the iconic TV quiz show, Who Wants To Be A Millionaire? expanding across North America.

Who Wants to Be a Millionaire? stands as a globally renowned television game show that has captivated audiences since its inception. The Playtech Live games include many of the classic Who Wants To Be A Millionaire? TV show features such as: 50/50, Ask the Audience and Ask the Host, which gives the player the chance to have incorrect answers removed based on the level of question they have reached.

Playtech previously announced a strategic five-year partnership with Sony Pictures Television to work together to bring three games of the much-loved Who Wants To Be A Millionaire? brand into the Playtech Live digital entertainment portfolio. Following the success of Live Roulette and Live Trivia, Playtech has recently introduced an exciting addition to their line-up: Video Poker Live, inspired by the popular TV show Who Wants To Be A Millionaire? Playtech will be developing more dedicated Millionaire branded games, network wide.

This collaboration will extend to more territories, including the U.S, Mexico, and Canada, as Playtech continues to demonstrate their commitment to capitalising on the growing potential of the North American gaming market whilst recognising the significant player base in these regions. Furthermore, this aligns seamlessly with Playtech’s overarching strategy of partnering with popular brands to deliver an unparalleled gaming experience to players.

Sasha Uman, Chief Commercial Officer at Playtech Live comments: “Collaborating with Sony Pictures Television has been a tremendous opportunity for us.  It showcases our commitment to securing top iconic brands in the game show and entertainment industry, and our dedication to offering high-quality and innovative gaming options to the audience. It has allowed us to bring a diverse range of interactive games including Live Roulette, Live Trivia, and the latest addition, Video Poker Live inspired by the beloved Who Wants To Be A Millionaire? Brand. Who Wants To Be A Millionaire? has been a global favourite for many years, and we are thrilled to be able to bring the excitement of this iconic game show to players worldwide, especially to our North American audience.”

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