{"id":173634,"date":"2021-05-13T23:43:09","date_gmt":"2021-05-14T06:43:09","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=173634"},"modified":"2021-05-14T10:06:24","modified_gmt":"2021-05-14T17:06:24","slug":"rush-street-stock-gets-modest-lift-after-company-ups-guidance","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/","title":{"rendered":"Rush Street Interactive Lifts 2020 Guidance, Stock Slightly Higher"},"content":{"rendered":"

Rush Street Interactive (NYSE:RSI) is the latest online gaming company to boost its 2021 revenue forecast, saying late Thursday it expects full-year sales of $440 million to $480 million.<\/p>\n

\"Rush
Rush Street Interactive CEO Greg Carlin in an interview with CNBC<\/em>. The company again raised 2021 revenue guidance. (Image: CNBC<\/em>)<\/figcaption><\/figure>\n

That’s the second time this year<\/a> the newly public iGaming operator lifted its 2021 sales outlook. In March, the Illinois-based company issued 2021 revenue guidance of $420 million to $460 million, up from a prior estimate of $320 million.<\/p>\n

At the midpoint of the range, revenue of $460 million represents 65% year-over-year growth when compared to $278.5 million of revenues for 2020,\u201d according to a statement.<\/p><\/blockquote>\n

Today’s announcement arrived in conjunction with the company’s first-quarter earnings report. On the basis of generally accepted accounting principles (GAAP), Rush Street lost 18 cents a share on revenue of $111.82 million. Analysts expected a loss of seven cents on sales of $96.29 million.<\/p>\n

The first-quarter sales beat and increased full-year guidance, and helped Rush Street stock to a 0.57 percent gain in after-hours trading. It rose 1.31 percent during standard trading hours.<\/p>\n

Rush Street Stock Under Pressure<\/h2>\n

Rush Street joins an array of competitors<\/a> that recently issued bullish 2021 forecasts. It’s part of a group that’s slumping in a big way.<\/p>\n

\n

Amid an accelerating rotation out of growth stocks and into value names, investors are savagely repudiating once beloved iGaming companies, even as upbeat outlooks trickle. Despite two positive adjustments to 2021 guidance, Rush Street stock is lower by almost 43 percent year-to-date. The operator went public last December following a reverse merger <\/a>with a special purpose acquisition company (SPAC).<\/p>\n<\/div>\n

The likely factors weighing on Rush Street stock are lack of profitability and rising spending on marketing \u2013 the former of which investors are displaying little tolerance for this year, regardless of industry.<\/p>\n

Rush Street Interactive spent $40.5 million on marketing and promotions in the January through March period, equivalent to 36 percent of sales.<\/p>\n

\u201cReal-Money Monthly Active Users (MAUs) in the United States for the first quarter of 2021 were up 166% year-over-year and 20% sequentially from the fourth quarter of 2020, with average revenue per MAU (ARPMAU) of $302 during the first quarter of 2021,\u201d according to the company.<\/strong><\/p>\n

Pure Play Could Pay-Off<\/h2>\n

RSI is a pure play<\/a> iGaming\/sportsbook operator, which is an increasingly desirable trait in the investment community these days.<\/p>\n

After launching its online casino in West Virginia last month, that part of the Rush Street Interactive business is live in four states.<\/p>\n

Its various offerings are now available in 11 domestic regions and one international market — Colombia — where it offers online casinos and regulated sports wagering.<\/strong><\/p>\n

At the end of the first quarter, RSI had $363 million of unrestricted cash and cash equivalents.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rush Street Interactive (NYSE:RSI) is the latest online gaming company to boost its 2021 revenue forecast, saying late Thursday it expects full-year sales of $440 million to $480 million. That’s the second time this year the newly public iGaming operator lifted its 2021 sales outlook. In March, the Illinois-based company issued 2021 revenue guidance of […]<\/p>\n","protected":false},"author":46,"featured_media":173635,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19],"tags":[],"acf":[],"yoast_head":"\nRush Street Stock Gets Modest Lift After Company Ups Guidance<\/title>\n<meta name=\"description\" content=\"Rush Street rises slightly after online casino company lifts 2021 revenue guidance for a second time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rush Street Stock Gets Modest Lift After Company Ups Guidance\" \/>\n<meta property=\"og:description\" content=\"Rush Street rises slightly after online casino company lifts 2021 revenue guidance for a second time.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-14T06:43:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-14T17:06:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/carlin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1910\" \/>\n\t<meta property=\"og:image:height\" content=\"1074\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/\",\"url\":\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/\",\"name\":\"Rush Street Stock Gets Modest Lift After Company Ups Guidance\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/carlin.jpg\",\"datePublished\":\"2021-05-14T06:43:09+00:00\",\"dateModified\":\"2021-05-14T17:06:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Rush Street rises slightly after online casino company lifts 2021 revenue guidance for a second time.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/rush-street-stock-gets-modest-lift-after-company-ups-guidance\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/carlin.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/carlin.jpg\",\"width\":1910,\"height\":1074,\"caption\":\"Rush Street Interactive CEO Greg Carlin in an interview with CNBC. 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