Start here if you're new
what it is
RSI runs online casino and sports betting apps in regulated U.S. states and Latin America.
how it gets paid
Last year Rush Street Inter made $1.1B in revenue. U.S. online casino was the main engine at $0.48B, or 44% of sales.
why it's growing
Revenue grew 22.8% last year. EPS, or profit per share, was $0.23. Net income was $5.25M, and the quarter still ran at a 6.1% operating margin.
what just happened
RSI posted $810M of revenue in the latest quarter, up 191% vs. prior year.
At a glance
B+ balance sheet — decent shape, but not bulletproof
79.0x trailing p/e — you're paying up for this one
3.0% return on capital — nothing to write home about
$0.03 fy2024 eps est
$924M fy2024 rev est
xvary composite: 57/100 — below average
What they do
RSI runs online casino and sports betting apps in regulated U.S. states and Latin America.
Regulated markets mean states that hand out permission slips. RSI is live in 12 U.S. states, so your rival faces 12 separate doors instead of one. That is the wall.
How they make money
$1.1B
annual revenue · their business grew +22.8% last year
U.S. online casino
$0.48B
+28.0%
U.S. sportsbook
$0.33B
+19.0%
Latin America online casino
$0.20B
+24.0%
Other regulated markets
$0.09B
+15.0%
The products that matter
online casino and sportsbook app
BetRivers
core consumer brand
it is the front door for most of the company, and that matters because RSI produced $324.9M in quarterly revenue in Q4 2025 with BetRivers at the center of the offer.
flagship brand
latin american sportsbook
RushBet
international growth lane
this is the part of the story that helps justify the raised $1.375B–$1.425B 2026 revenue target. if growth abroad slows, the valuation gets harder to defend.
growth lever
Key numbers
$1.1B
annual revenue
Plain English: this is the size of the business. So what: 22.8% growth still has the top line moving.
79.0x
trailing p/e
Plain English: this is the price you pay for last year's profit. So what: 79.0x is heavy next to a 6.1% margin.
6.1%
operating margin
Plain English: this is the profit left after the bills. So what: the business still turns only 6.1 cents of each dollar into operating profit.
3.0%
return on capital
Plain English: this is what the business earns on money invested. So what: $100 put in brings back only $3.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- long-term debt $13M (0% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for RSI right now.
source: institutional data · return history unavailable
What just happened
beat estimates
RSI posted $810M of revenue in the latest quarter, up 191% vs. prior year.
EPS, or profit per share, was $0.23. Net income was $5.25M, and the quarter still ran at a 6.1% operating margin.
$810M
revenue
$0.23
eps
6.1%
operating margin
the number that mattered
Revenue was $810M. That matters because scale is finally doing work, even if the margin is still only 6.1%.
source: company earnings report, 2026
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What could go wrong
the #1 risk is customer acquisition pressure in online casino and sportsbook. RSI is profitable, but only barely, and larger rivals can spend more aggressively to win the same users.
med
draftkings and caesars can make growth expensive
There is no scale advantage here yet. RSI trades at 79x trailing earnings while competing against operators with more marketing firepower and broader state coverage.
If customer acquisition costs rise, a business that made $5.25M last quarter can fall back toward breakeven fast.
med
the stock is priced for clean execution
The company raised 2026 guidance to $1.375B–$1.425B. That is good news. It also means the market has a visible target and little patience if quarterly results drift below it.
High-multiple stocks do not need bad results to drop. They only need growth to stop looking easy.
med
licenses and compliance are the whole business model
The 10-K cites litigation, regulatory action, and licensing risk. That comes with the territory when every market is permission-based.
A regulatory issue does not just trim demand. It can remove an operating market altogether.
You own a premium-priced operator with $924M in revenue and only $5.25M of quarterly net income. That spread between scale and profit is the whole risk picture.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
2026 revenue guide versus actual prints
$1.375B–$1.425B is the number that matters. If quarterly revenue stops lining up with that path, the multiple gets exposed fast.
trend
profit growing faster than revenue
Q4 delivered $324.9M of revenue and $5.25M of net income. You want to see the second number scale faster next, not just the first.
risk
marketing pressure from larger operators
The catch is simple: rivals can spend harder. If customer growth starts costing much more, RSI's thin profit base gets tested right away.
calendar
post-earnings insider activity
The CEO sold $4.1M in February 2026. One sale is not a verdict. A pattern after strong quarters would deserve your attention.
Analyst rankings
risk profile
average
risk rank 3 — typical risk profile — neither especially safe nor risky.
chart momentum
average
momentum rank 3 — the stock is moving with the broader market, no unusual signal.
source: institutional data
Institutional activity
institutional ownership data for RSI is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$20
current price
n/a
target midpoint · n/a from current
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