24/7 Market News Snapshot 30 October, 2024 – Rush Street Interactive, Inc. (NYSE:RSI)

October 30, 2024

DENVER, Colo., 30 October, 2024 (247marketnews.com) – (NYSE:RSI) are discussed in this article.
Rush Street Interactive, Inc. (NYSE:RSI) has demonstrated impressive market performance, as reflected in its current trading price of $11.82, marking an increase of 11.41% from its opening value of $10.60. This upward trend is accompanied by significant trading volume of 3.7 million shares, indicating robust investor interest. Traders and analysts are advised to closely monitor the stock’s Relative Strength Index (RSI), as levels above 70 may signal overbought conditions while readings below 30 could suggest an oversold market.

In conjunction with its market performance, Rush Street Interactive has reported outstanding financial results for the third quarter of 2024, further solidifying its status in the online gaming and sports betting industry. The company’s revenue surged by 37% year-over-year, reaching $232.1 million compared to $169.9 million in the same quarter last year. This remarkable growth was bolstered by a net income of $3.2 million, a stark improvement from the net loss of $13.4 million recorded in the prior year. Additionally, the company achieved an adjusted EBITDA of $23.4 million, marking a more than fivefold increase from the $4.1 million reported during the same period in 2023.

The increase in Monthly Active Users (MAUs) has been noteworthy, with 168,000 users in the United States and Canada—a 28% year-over-year growth—and a staggering 122% increase in Latin America, resulting in approximately 329,000 MAUs. Furthermore, an increase in Average Revenue per Monthly Active User (ARPMAU) by 4% in North America signals strong consumer engagement.

The Board of Directors has approved a $50 million share repurchase program, reflecting a commitment to enhancing shareholder value. Rush Street has also raised its full-year 2024 Adjusted EBITDA guidance by 24%, projecting between $82 million and $86 million. CEO Richard Schwartz highlighted the company’s dedication to innovation and strategic growth, positioning it as a key player in the Americas’ online gaming landscape.

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