Rush Street Interactive kept its 2026 revenue guidance but said October trading points to the low end of the range, after raising its outlook a quarter earlier. With online casino at 75% of revenue, the warning is fresh operator evidence that US online casino growth is cooling heading into the fourth quarter.
The third-quarter results of BetRivers owner Rush Street Interactive came out on October 28. The guidance range it reaffirmed implies 38% to 41% growth for 2026. Adjusted EBITDA guidance stays at $245 million to $265 million, with October tracking toward the midpoint of that range.
The warning breaks a pattern from the summer. In the second quarter, reported July 29, the company posted record revenue of $393.8 million, up 46%, and raised its full-year guidance. Third-quarter sales were up from $277.9 million a year earlier but below the second-quarter total. Growth also slowed from the 46% pace of the prior quarter.
Net income rose 93% to $28.7 million, from $14.8 million. Adjusted EBITDA rose 73% to $62.2 million, from $36.0 million. Sales and marketing expense grew 43% to $56.0 million, from $39.0 million a year earlier.
The online casino share of revenue rose from 72% in the second quarter. That weighting makes the company a close read on US casino demand. The 32% growth in casino revenue also includes Latin America, so it is not a pure US figure.
Player numbers kept growing. North American monthly active users reached a record 300,572, up 34% year over year. Latin American users rose 46% to 607,308, for a total of 907,881.
Management blamed slower growth in the North American online casino market, not lost market share, for revenue tracking toward the low end of guidance. Michigan, in their view, has also become more competitive. Statewide figures from Michigan are consistent with a softer market. In September, Michigan iGaming adjusted gross receipts came to $288.15 million, 0.9% lower than in August.
The shares fell 1.82% in regular trading on October 28 to $15.13. After hours, the stock moved below its 52-week low. The company bought back about $14 million of stock during the quarter and another $11 million after it ended. That leaves $75 million under its repurchase authorization.
The outlook carries conditions. It covers only markets that are already live. It also assumes current tax structures stay in place, including Colombia’s temporary 16% excise tax through year-end.
That leaves the fourth quarter as the test of the low-end warning. Investing.com calculated that the reiterated full-year guidance implies fourth-quarter revenue of roughly $410 million to $450 million.
Sources
- Rush Street Interactive Announces Third Quarter 2026 Results and Reiterates Full Year Guidance (Form 8-K, Exh… (Rush Street Interactive / U.S. SEC)
- Earnings call transcript: Rush Street Interactive Q3 2026 results beat on EPS (Investing.com)
- Michigan iGaming, Online Sports Betting Operators Report $355.7M in September revenue (Michigan Gaming Control Board)
- Rush Street Interactive (RSI) Q3 2026 Earnings Call Transcript (The Motley Fool)
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