Despite the adversity posed by March Madness results and the Super Bowl, Rush Street Interactive posted almost uniformly improved numbers in its first-quarter-earnings call.
CEO Richard Schwartz led by citing 11% improvement in online sports betting revenue and 25% higher igaming receipts. “Domestically, we saw solid growth across the board,” he summarized.
Internationally, revenue was 50% higher in Mexico and 55% in Colombia, the latter in spite of a 19% value-added tax imposed by the Colombian regime.
“We have been absorbing the tax through higher bonusing,” as opposed to passing it on to players, Schwartz explained. CFO Kyle Sauers added that higher costs in Colombia had been offset by improved performance in North America.
