Rush Street Interactive (RSI) has reported its financial results for the third quarter of 2025, having set a new quarterly record with $277.9m in total revenue, representing an increase of 20% and marking the 10th consecutive period in which the operator has generated revenue growth.
"We're pleased to report another strong quarter that underscores the resilience of our business model and player-first approach. Our third quarter results demonstrate continued momentum and acceleration of growth across key markets, led by our continued outperformance in the online casino space," RSI CEO Richard Schwartz said.
RSI's net income throughout Q3 2025 was reported to be $14.8m, which equates to a significant 362.5% increase from the net income reported for the third quarter of 2024. The operator also reported an adjusted EBITDA increase of 54% year-over-year for a total of $36m across the period.
The operator witnessed an increase in operating expenses of 14.5% to $258.4m, but the recorded growth in costs failed to negatively affect RSI's income from operations throughout Q3 2025, reported to be nearly $19.5m and increasing 201.2% from the prior year period.
Cost of revenue accounted for $183.5m of the total operating expenses reported by RSI for Q3 2025, while sales and marketing totaled an additional $39m for the period.
RSI also reported an increase of 34% for total active monthly users in the US and Canada, which now sits at approximately 225,000 users of the operator's online gambling platforms. In LatAm, the monthly active user total grew 30% to approximately 415,000, also including players currently based in Mexico.
"What makes these results particularly compelling is the continued acceleration of growth in North American online casino markets. Delivering exceptional 46% year-over-year MAU growth, our United States and Canada online casino markets recorded the second highest quarterly growth rate since early 2021, achieved off a much larger player base," Schwartz said.
As a result of the favorable Q3 2025 results, RSI has updated its full-year (FY) revenue guidance to between $1.1bn and $1.12bn, with the midway point of the two figures representing an increase in FY2025 revenue of 20% year-over-year.
The operator's FY2025 adjusted EBITDA guidance was also raised in expectation of falling between $147m and $153m, as a $150m FY2025 adjusted EBITDA would equate to a rise of 62% for RSI.
RSI expanded its BetRivers Poker iGaming platform to three additional states following a successful launch throughout Pennsylvania in 2024, with Delaware, Michigan and West Virginia players gaining access to BetRivers Poker on June 10.
The platform was developed with direct input from the poker community, led by Phil Galfond, who helped design the platform's gameplay, features and rewards. BetRivers Poker is also set to debut in New Jersey by the conclusion of 2025, according to RSI.
RSI promoted Kyle Sauers to President on October 15, a position he now holds in addition to his CFO title, where he will continue to lead the operator's financial strategy while taking on "broader responsibility" for day-to-day operations, execution and cross-functional performance
