RSI Q1 Shows Online Casino Driving Faster Profit Growth

Rush Street Interactive raised its 2026 guidance after Q1 revenue reached $370.4 million, up 41% year over year. Adjusted EBITDA increased 81% to $60.2 million, while monthly active users grew 51%, driven by a 62% increase in North American online casino markets. The company also confirmed that its updated outlook includes the planned Alberta launch in July.

RSI now expects full-year revenue between $1.49 billion and $1.54 billion. Adjusted EBITDA is expected to reach between $230 million and $250 million. The company said the forecast is based on current live markets and existing tax conditions, including Colombia’s temporary 16% emergency tax.

Online casino markets helped push growth during the quarter. North American monthly active users rose 46% year over year, including a 62% increase in online casino markets. RSI said casino users continued to generate more revenue, with average revenue per user reaching $317 in the US and Canada. The results add more evidence that casino-led operators are still in a better position to grow revenue and margins without matching that growth in marketing spend.

Alberta is expected to become one of the company’s main expansion markets in the second half of 2026. The province plans to launch its regulated online gambling market in July. For operators already active in Ontario, Alberta offers another regulated market with room for customer growth.

The quarter also showed how online casinos continue to produce higher margins and steadier retention than sportsbook-focused models. RSI increased users and revenue without matching that growth in marketing spend, which could push more operators toward casino-led acquisition strategies and increase demand for CRM, retention, and iGaming content suppliers.

💡 TGJ Take

RSI’s results add more pressure on sportsbook-led operators that still rely on high promo spending to grow users. The company increased revenue and EBITDA while keeping marketing costs under control, helped by growth in online casino markets. Alberta gives casino-focused operators another regulated market with room for expansion, especially as competition in US sports betting becomes more expensive. Suppliers working in CRM, retention, and casino content could see more demand if operators move more budget toward casino acquisition and cross-sell strategies.