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NYSE:RSI

Rush Street Interactive Announces First Quarter 2024 Results and Raises Full Year Guidance

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First Quarter Revenue of $217 Million, up 34% Year-over-Year –
– First Quarter Net Loss of $2 Million –
– Strong Operating Momentum Drives First Quarter Adjusted EBITDA of $17 Million –
– Raising Full Year 2024 Adjusted EBITDA Guidance 38% at the Midpoint with a Revised Range of Between $50 and $60 Million –

CHICAGO, May 01, 2024 (GLOBE NEWSWIRE) — Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), 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, 2024.

First Quarter 2024 Highlights

  • Revenue was $217.4 million during the first quarter of 2024, an increase of 34%, compared to $162.4 million during the first quarter of 2023.
  • Net loss was $2.2 million during the first quarter of 2024, compared to a net loss of $24.5 million during the first quarter of 2023.
  • Adjusted EBITDA1 was $17.1 million during the first quarter of 2024, compared to an Adjusted EBITDA loss of $8.7 million during the first quarter of 2023, an improvement of $25.8 million.
  • Adjusted advertising and promotions expense1 was $37.8 million during the first quarter of 2024, a decrease of 23% compared to $49.4 million during the first quarter of 2023.
  • Monthly Active Users (“MAU”) in the United States and Canada were approximately 176,000, up 20% year-over-year. MAUs in Latin America (which includes Mexico) were approximately 224,000, up 72% year-over-year.
  • Average Revenue per Monthly Active User (“ARPMAU”) in the United States and Canada was $355 during the first quarter of 2024, up 9% year-over-year. ARPMAU in Latin America was $43, up 4% year-over-year.
  • As of March 31, 2024, unrestricted cash and cash equivalents were $191 million.

____________________________
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 any applicable 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 extremely pleased with our record first quarter results achieving company quarterly record Revenues and Adjusted EBITDA of $217 million and $17 million, respectively. This was accomplished by growing both our iCasino and Online Sports businesses by over 35% year-over-year, in large part by acquiring new players more efficiently while simultaneously increasing the number and value of our users. Our team is proud to have achieved these results, which stemmed from our long-standing, unwavering commitment to prioritize the quality of our product and customer experience.”

“We are very excited about the opportunity to continue to scale the business and drive growth on the back of our current momentum, which includes increasing our Adjusted EBITDA guidance by 38% at the midpoint. With this growth and scale comes improving earnings and free cash flow. Looking forward, we remain energized in our view that the team is primed to continue executing on our strategy and delivering value to shareholders.”

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Guidance
RSI expects revenue for the full year ending December 31, 2024 to be between $810 and $860 million, increasing the midpoint by $35 million compared to the original guidance. At the midpoint of the range, revenue of $835 million represents 21% year-over-year growth when compared to $691 million of revenue for 2023.

RSI expects Adjusted EBITDA1 for the full year ending December 31, 2024 to be between $50 and $60 million, increasing the midpoint by $15 million compared to the original guidance. At the midpoint of the range, Adjusted EBITDA of $55 million represents 573% year-over-year growth when compared to $8.2 million of Adjusted EBITDA for 2023.

These guidance ranges are based on certain assumptions, including that (i) only operations in live jurisdictions as of today’s date are included, and (ii) RSI continues to operate in markets in which it is live today.

Earnings Conference Call and Webcast Details
RSI will host a conference call and audio webcast today at 6:00 p.m. Eastern Time (5:00 p.m. Central Time), during which management will discuss first quarter results and provide commentary on business performance and its current outlook for 2024. A question-and-answer session will follow the prepared remarks.

The conference call may be accessed by dialing 1-833-470-1428 (Toll Free) or 1-404-975-4839 (Local) or, for international callers, 1-929-526-1599. The conference call access code is 971872.

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A live audio webcast of the earnings conference call may be accessed on RSI’s website at ir.rushstreetinteractive.com, along with a copy of this press release and an investor slide presentation. The audio webcast and investor slide presentation will be available on RSI’s investor relations website until at least June 1, 2024.

About Rush Street Interactive
RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in fifteen U.S. states: Pennsylvania, Illinois, New Jersey, New York, Ohio, Delaware, Michigan, Indiana, Virginia, Colorado, Maryland, Iowa, West Virginia, Arizona and Louisiana, as well as in the regulated international markets of Ontario, Canada, Colombia and Mexico. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 in Chicago by gaming industry veterans, RSI was named the 2023 EGR North America Awards Customer Services Operator of the Year, the 2022 EGR North America Awards Operator of the Year, Customer Services Operator of the Year and Social Gaming Operator of the Year, and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit www.rushstreetinteractive.com.

Non-GAAP Financial Measures
In addition to providing financial measurements based on accounting principles generally accepted in the United States (“GAAP”), this press release includes certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA, Adjusted Operating Costs and Expenses, Adjusted Net Loss Per Share, Adjusted Net Loss and Adjusted Weighted Average Common Shares Outstanding, each of which is a non-GAAP performance measure that RSI uses to supplement its results presented in accordance with GAAP. A reconciliation of each such non-GAAP financial measure to the most directly comparable GAAP financial measure can be found below. RSI believes that presentation of these non-GAAP financial measures provides useful information to investors regarding RSI’s results of operations and operating performance, as they are similar to measures reported by its public competitors and are regularly used by securities analysts, institutional investors and other interested parties in analyzing operating performance and prospects. These non-GAAP financial measures are not intended to be considered in isolation or as a substitute for any GAAP financial measures and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.

By providing full year 2024 Adjusted EBITDA guidance, RSI provided its expectation of a forward-looking non-GAAP financial measure. Information reconciling full year 2024 Adjusted EBITDA to its most directly comparable GAAP financial measure, net income (loss), is unavailable to RSI without unreasonable effort due to, among other things, the inherent difficulty in forecasting and quantifying the comparable GAAP measure and the applicable adjustments and other amounts that would be necessary for such a reconciliation, and certain of these amounts are outside of RSI’s control and may be subject to high variability or complexity. Preparation of such reconciliations would also require a forward-looking balance sheet, statement of operations and statement of cash flows, prepared in accordance with GAAP, and such forward-looking financial statements are unavailable to RSI without unreasonable effort. RSI provides a range for its Adjusted EBITDA forecast that it believes will be achieved; however, RSI cannot provide any assurance that it can predict all of the components of the Adjusted EBITDA calculation. RSI provides a forecast for Adjusted EBITDA because it believes that Adjusted EBITDA, when viewed with RSI’s results calculated in accordance with GAAP, provides useful information for the reasons noted herein. However, Adjusted EBITDA is not a measure of financial performance or liquidity under GAAP and, accordingly, should not be considered as an alternative to net income (loss) or cash flow from operating activities or as an indicator of operating performance or liquidity.

RSI defines Adjusted EBITDA as net income (loss) before interest, income taxes, depreciation and amortization, share-based compensation, adjustments for certain one-time or non-recurring items and other adjustments. Adjusted EBITDA excludes certain expenses that are required in accordance with GAAP because certain expenses are either non-cash (i.e., depreciation and amortization, and share-based compensation) or are not related to our underlying business performance (i.e., interest income or expense).

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RSI defines Adjusted Operating Costs and Expenses as RSI’s GAAP operating costs and expenses adjusted to exclude the impacts of share-based compensation, certain one-time or non-recurring items and other adjustments. Adjusted Operating Costs and Expenses excludes certain expenses that are required in accordance with GAAP because certain expenses are either non-cash (i.e., share-based compensation) or are not related to our underlying business performance.

RSI defines Adjusted Earnings (Loss) Per Share as Adjusted Net Income (Loss) divided by Adjusted Weighted Average Common Shares Outstanding. Adjusted Net Income (Loss) is defined as net loss attributable to Rush Street Interactive, Inc. as used in the basic and diluted net loss per share calculations, adjusted for the reallocation of net loss attributable to non-controlling interests, share-based compensation, certain one-time or non-recurring items and other adjustments. Adjusted Weighted Average Common Shares Outstanding is defined as the weighted average number of common shares outstanding as used in the basic and diluted net loss per share calculation, adjusted for the assumed conversion of the non-controlling interest’s Rush Street Interactive, LP Class A units to Class A common stock of RSI on a one-to-one-basis, and in periods of Adjusted Net Income, incremental shares from assumed conversion of stock options and restricted stock units.

RSI includes these non-GAAP financial measures because management uses them to evaluate RSI’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Management believes that these non-GAAP financial measures provide investors with useful information on RSI’s past financial and operating performance, enable comparison of financial results from period-to-period where certain items may vary independent of business performance, and allow for greater transparency with respect to metrics used by RSI’s management in operating our business. Management also believes these non-GAAP financial measures are useful in evaluating our operating performance compared to that of other companies in our industry, as these metrics generally eliminate the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance.

Key Metrics
RSI provides certain key metrics, including Monthly Active Users (“MAUs”) and ARPMAU, in this press release. RSI defines MAUs as the number of unique users per month who have placed at least one real-money bet across one or more of our online casino or online sports betting offerings, and it defines ARPMAU as average revenue for the applicable period divided by the average MAUs for the same period.

The numbers RSI uses to calculate MAUs and ARPMAU are based on internal RSI data. While these numbers are based on what RSI believes to be reasonable judgments and estimates of its customer base for the applicable period of measurement, there are inherent challenges in measuring usage and engagement with respect to RSI’s online offerings across its customer base. Such challenges and limitations may also affect RSI’s understanding of certain details of its business. In addition, RSI’s key metrics and related estimates, including the definitions and calculations of the same, may differ from estimates published by third parties or from similarly-titled metrics of its competitors due to differences in operations, offerings, methodology and access to information. RSI regularly reviews, and may adjust its processes for calculating, its internal metrics to improve their accuracy.

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Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. RSI’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “propose”, “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding revenue and Adjusted EBITDA guidance, RSI’s future results of operations, financial condition, cash flows or profitability (whether on a GAAP or non-GAAP basis), currency fluctuations, RSI’s strategic plans and focus, anticipated launches or withdrawals of RSI’s current or new offerings in existing or future jurisdictions, player growth and engagement, product initiatives, outcomes of current or future regulatory developments and the objectives of management for future operations. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside RSI’s control and are difficult to predict. Factors that may cause such differences include, without limitation: changes in applicable laws or regulations; RSI’s ability to manage and sustain growth; RSI’s ability to execute its business plan, meet its projections and obtain relevant market access and/or gaming licenses; unanticipated product or service delays; general economic and market conditions impacting the demand for RSI’s products and services; economic and market conditions in the gaming, entertainment and leisure industry in the markets in which RSI operates; the potential adverse effects of general economic conditions, inflation and interest rates and unemployment on RSI’s liquidity, operations and personnel; and other risks and uncertainties indicated from time to time in RSI’s filings with the SEC. RSI cautions that the foregoing list of factors is not exclusive. RSI cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. RSI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Media Contacts:
Lisa Johnson
(609) 788-8548
[email protected] 

Investor Contact:
[email protected] 

 
Rush Street Interactive, Inc.
Condensed Consolidated Statements of Operations
(Unaudited and in thousands, except per share data)
   
  Three Months Ended
March 31,
  2024   2023
  (Unaudited)   (Unaudited)
Revenue $ 217,428     $ 162,361  
       
Operating costs and expenses      
Costs of revenue   144,523       107,154  
Advertising and promotions   38,404       49,940  
General administration and other   25,868       21,592  
Depreciation and amortization   7,101       5,755  
Total operating costs and expenses   215,896       184,441  
Income (loss) from operations   1,532       (22,080 )
       
Other income      
Interest income, net   1,559       380  
Income (loss) before income taxes   3,091       (21,700 )
       
Income tax expense   5,300       2,800  
Net loss $ (2,209 )   $ (24,500 )
       
Net loss attributable to non-controlling interests   (1,482 )     (17,240 )
Net loss attributable to Rush Street Interactive, Inc. $ (727 )   $ (7,260 )
       
Net loss per common share attributable to Rush Street Interactive, Inc. – basic and diluted $ (0.01 )   $ (0.11 )
Weighted average common shares outstanding – basic and diluted   76,027,427       65,260,064  
               

 
Rush Street Interactive, Inc.
Condensed Consolidated Statements of Comprehensive Loss
(Unaudited and in thousands)
   
  Three Months Ended
March 31,
  2024   2023
  (Unaudited)   (Unaudited)
Net loss $ (2,209 )   $ (24,500 )
       
Other comprehensive income      
Foreign currency translation adjustment   101       344  
Comprehensive loss $ (2,108 )   $ (24,156 )
       
Comprehensive loss attributable to non-controlling interests   (1,416 )     (16,997 )
Comprehensive loss attributable to Rush Street Interactive, Inc. $ (692 )   $ (7,159 )
               

Rush Street Interactive, Inc.
Reconciliations of GAAP to Non-GAAP Financial Measures
(Unaudited and in thousands)

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Adjusted EBITDA:

  Three Months Ended
March 31,
($ in thousands) 2024   2023
Net loss $ (2,209 )   $ (24,500 )
       
Interest income, net   (1,559 )     (380 )
Income tax expense   5,300       2,800  
Depreciation and amortization   7,101       5,755  
Share-based compensation expense   8,425       7,675  
Adjusted EBITDA $ 17,058     $ (8,650 )
               

Adjusted Operating Costs and Expenses:

  Three Months Ended
March 31,
  2024   2023
GAAP operating costs and expenses:      
Costs of revenue $ 144,523     $ 107,154  
Advertising and promotions   38,404       49,940  
General administration and other   25,868       21,592  
Depreciation and amortization   7,101       5,755  
Total operating costs and expenses $ 215,896     $ 184,441  
       
Non-GAAP operating cost and expense adjustments:      
Costs of revenue1 $ (270 )   $ (257 )
Advertising and promotions1   (570 )     (536 )
General administration and other1   (7,585 )     (6,882 )
Depreciation and amortization          
Total non-GAAP operating cost and expense adjustments $ (8,425 )   $ (7,675 )
       
Adjusted operating costs and expenses:      
Costs of revenue $ 144,253     $ 106,897  
Advertising and promotions   37,834       49,404  
General administration and other   18,283       14,710  
Depreciation and amortization   7,101       5,755  
Total adjusted operating costs and expenses $ 207,471     $ 176,766  
               

1 Non-GAAP Operating Costs and Expense Adjustments include Share-based compensation expense.

Rush Street Interactive, Inc.
Reconciliations of GAAP to Non-GAAP Financial Measures
(Unaudited and in thousands, except share and per share data)

Adjusted Net Income (Loss), Adjusted Weighted Average Common Shares Outstanding and Adjusted Earnings (Loss) Per Share:

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  Three Months Ended
March 31,
  2024   2023
Adjusted net income (loss)      
Net loss attributable to Rush Street Interactive, Inc. – basic and diluted $ (727 )   $ (7,260 )
Adjustments:      
Net loss attributable to non-controlling interests   (1,482 )     (17,240 )
Share-based compensation expense   8,425       7,675  
Adjusted net income (loss) $ 6,216     $ (16,825 )
       
Adjusted weighted average common shares outstanding      
Weighted average common shares outstanding – basic and diluted   76,027,427       65,260,064  
Adjustments:      
Conversion of weighted average RSILP Units to Class A Common Shares   147,070,024       155,855,584  
Adjusted weighted average common shares outstanding – basic   223,097,451       221,115,648  
       
Adjustments:      
Incremental shares from assumed conversion of stock options and restricted stock units(1)   6,154,804        
Adjusted weighted average common shares outstanding – diluted   229,252,255       221,115,648  
       
Loss per share      
Net loss per common share attributable to Rush Street Interactive, Inc. – basic and diluted: $ (0.01 )   $ (0.11 )
       
Adjusted earnings (loss) per share      
Adjusted earnings (loss) per share – basic and diluted $ 0.03     $ (0.08 )
               

1 In periods of Net Loss and Adjusted Net Loss, stock-based awards are anti-dilutive and therefore excluded from the diluted loss per share calculation.

NYSE:RSI

Rush Street Interactive to Participate at the Needham Technology, Media, & Consumer Conference

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CHICAGO, May 09, 2024 (GLOBE NEWSWIRE) — Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading online casino and sports betting company in the United States and the rest of the Americas, today announced that Richard Schwartz, Chief Executive Officer, and Kyle Sauers, Chief Financial Officer, will participate in a fireside chat at Needham’s Technology, Media, & Consumer Conference on Thursday, May 16, 2024 at 1:30 p.m. Eastern Time.

Access to the video webcast of the presentation in listen-only mode will be available through the “Investors” section of the Company’s website at www.rushstreetinteractive.com. A replay of the webcast will be archived on the Company’s website for 90 days.

About RSI

RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in fifteen U.S. states: Pennsylvania, Illinois, New Jersey, New York, Ohio, Delaware, Michigan, Indiana, Virginia, Colorado, Maryland, Iowa, West Virginia, Arizona and Louisiana, as well as in the regulated international markets of Ontario, Canada, Colombia and Mexico. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 in Chicago by gaming industry veterans, RSI was named the 2023 EGR North America Awards Customer Services Operator of the Year, the 2022 EGR North America Awards Operator of the Year, Customer Services Operator of the Year and Social Gaming Operator of the Year, and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit www.rushstreetinteractive.com.

Contacts

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Media:
Lisa Johnson
(609) 788-8548
[email protected]

Investors:
[email protected]

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NYSE:RSI

Infront Bettor Expands North American Operations in Partnership With Rush Street Interactive

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Key partnership across RSI brands BetRivers and RushBet includes access to Infront’s official ITF data and streams from 2025

ZUG, Switzerland and CHICAGO, May 07, 2024 (GLOBE NEWSWIRE) — Infront Bettor, the betting-focused division of Infront, and Rush Street Interactive Inc (NYSE: RSI) (“RSI”), one of the leading operators in the Americas and the online operator of BetRivers in North America and RushBet in Latin America, have entered into a strategic partnership.

The new agreement covers Infront’s extensive portfolio, including access to the official fast path data of all International Tennis Federation (ITF) events, exclusively distributed by Infront Bettor from 2025. Official feed data directly from the umpires chair will be made available for over 58,000 matches from the Men’s and Women’s World Tennis Tour, the Billie Jean King Cup and the Davis Cup. The corresponding video streams will also be distributed for a large portion of these matches.

The deal also covers Infront’s wider streaming portfolio from more than 40 global rights holders across soccer, basketball and ice hockey. This includes top European soccer competitions such as France’s Ligue 1 Uber Eats from the 2024/25 season and premium ice hockey tournaments such as the IIHF Ice Hockey World Championship.

Diogo Almeida, Head of Sales, Infront Bettor, said: “Our venture into the US betting landscape marks a significant milestone for the bold plans we have for Infront Bettor, and partnering with a key player, like RSI, in the industry is obviously the best way to significantly bolster our presence in this rapidly expanding market. It also ensures that fans have unmatched access to top-tier global sports events, which will be perfectly complemented with 24/7 betting opportunities through our partnership with the ITF.”

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Richard Schwartz, CEO Rush Street Interactive, said: “This partnership is a pivotal step for us in enhancing our offering to make sure we have premium and round-the-clock coverage for our customers. We are also very proud to continue to deliver the ITF to our bettors through next year, offering an enhanced tennis package that will see us consume more events than ever before. We know Infront has plans to offer a more immersive tennis betting experience, adding supplementary betting markets through collecting level 2 and level 3 data, and we look forward to seeing these come to life next year.”

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. RSI’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, RSI’s expectations about its arrangement with Infront Bettor, what RSI’s anticipated offerings and benefits arising from that arrangement will include and its future performance with respect to that arrangement. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside RSI’s control and are difficult to predict. Factors that may cause such differences include, without limitation, changes in applicable laws or regulations, unanticipated product or service delays, and other risks and uncertainties indicated from time to time in RSI’s most recent Annual Report on Form 10-K, including those under “Risk Factors” therein, and in RSI’s other filings with the SEC. RSI cautions that the foregoing list of factors is not exclusive. RSI cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. RSI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

About Rush Street Interactive
RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in fifteen U.S. states: Pennsylvania, Illinois, New Jersey, New York, Ohio, Delaware, Michigan, Indiana, Virginia, Colorado, Maryland, Iowa, West Virginia, Arizona and Louisiana, as well as in the regulated international markets of Ontario, Canada, Colombia and Mexico. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 in Chicago by gaming industry veterans, RSI was named the 2023 EGR North America Awards Customer Services Operator of the Year, the 2022 EGR North America Awards Operator of the Year, Customer Services Operator of the Year and Social Gaming Operator of the Year, and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit www.rushstreetinteractive.com.

About Infront
Connecting fans and consumers to the greatest sports events, Infront, a Wanda Sports Group company, offers everything an event or commercial partner needs to be successful. With a team of around 1,000 experts working from 44 offices across 16 countries around the world, Infront is equipped to tackle any challenge—be it innovative digital solutions, world-class event operations, international media rights distribution, sponsorship sales and activations or cutting-edge media production. Headquartered in Switzerland, Infront is passionate and #AllAboutSports. @infrontsports www.infront.sport

For RSI Media Inquiries:
Email: [email protected]

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For RSI Investor Relations:
Email: [email protected]

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NYSE:RSI

Broadcast Legend Mike Francesa Renews Exclusive Partnership With BetRivers

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New York City Icon and Radio Hall of Famer to Deliver Premium Content and Betting Insights to BetRivers Sports Fans

CHICAGO, April 17, 2024 (GLOBE NEWSWIRE) — Rush Street Interactive, Inc. (NYSE: RSI) (“RSI”), a leading US-based betting and gaming company, proudly announces the renewal of its exclusive multi-year agreement with none other than New York sports broadcasting legend, Mike Francesa. The renewal solidifies Francesa’s ongoing commitment to BetRivers.

“I’m thrilled to continue my partnership with BetRivers, which in my opinion offers the best online sportsbook in the industry,” expressed Francesa. “Joining forces with the RSI team enables me to connect with fans in exciting and easily accessible ways, while providing my insight and instant reaction to the biggest games to audiences not only in New York but across BetRivers markets nationwide.”

A Radio Hall of Famer with a career spanning over three decades, Francesa has been a household name in New York sports radio. From his groundbreaking years co-hosting the legendary “Mike and the Mad Dog” program on WFAN to his decade at CBS Sports as a studio analyst, Francesa’s influence on sports broadcasting is unparalleled. His accolades include multiple wins of the prestigious Marconi Award as ‘Major Market Personality of the Year,’ a testament to his enduring impact on the industry.

Under this renewed partnership, Francesa will continue to serve exclusively to BetRivers as a provider of network and social media content. Operating from his hometown of New York City, Francesa will host a new daily show on YouTube on “The Mike Francesa Podcast” channel, offering expert insights and analysis on breaking news stories and game reactions. Additionally, he will produce a series of digital videos featured on the BetRivers platform, enriching the betting experience for sports enthusiasts nationwide. He will also meet and greet BetRivers customers in personal appearances in BetRivers markets on the east coast.

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Richard Schwartz, CEO of RSI, shared his enthusiasm about the renewed collaboration, stating, “We are delighted to have Mike Francesa, the undisputed ‘King of New York’ radio, renew his partnership with our BetRivers family of Brand Ambassadors. Our BetRivers audience will now be able to see and hear Mike every weekday! Our customers tell us that his passion for sports, along with the stories Mike shares from when he worked with Jimmy the Greek, add a new level of fun to their betting experiences, further solidifying RSI’s dedication to providing top tier sportsbook entertainment.”

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. RSI’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, RSI’s expectations about its continued arrangement with Mike Francesa, what RSI’s anticipated offerings and benefits arising from that arrangement will include and its future performance with respect to that arrangement. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside RSI’s control and are difficult to predict. Factors that may cause such differences include, without limitation, changes in applicable laws or regulations, unanticipated product or service delays, and other risks and uncertainties indicated from time to time in RSI’s most recent Annual Report on Form 10-K, including those under “Risk Factors” therein, and in RSI’s other filings with the SEC. RSI cautions that the foregoing list of factors is not exclusive. RSI cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. RSI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

About Rush Street Interactive
RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in fifteen U.S. states: Pennsylvania, Illinois, New Jersey, New York, Ohio, Delaware, Michigan, Indiana, Virginia, Colorado, Maryland, Iowa, West Virginia, Arizona and Louisiana, as well as in the regulated international markets of Ontario, Canada, Colombia and Mexico. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 in Chicago by gaming industry veterans, RSI was named the 2023 EGR North America Awards Customer Services Operator of the Year, the 2022 EGR North America Awards Operator of the Year, Customer Services Operator of the Year and Social Gaming Operator of the Year, and the 2021 SBC Latinoamérica Awards Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit www.rushstreetinteractive.com.

For RSI Media Inquiries:
Email: [email protected]

For RSI Investor Relations:
Email: [email protected]

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