Latest news with #RichardSchwartz
Yahoo
29-05-2025
- Business
- Yahoo
BetRivers Expands PropPacks, Following NBA Success, to include MLB, Delivering a Home Run Experience for Baseball Fans
The innovative digital baseball card game, which leverages the thrill of prop bets, is a highly engaging and differentiated way to provide more opportunities to win and offer extra value to players at BetRivers Sportsbook CHICAGO, May 29, 2025 (GLOBE NEWSWIRE) -- After the tremendous success of NBA PropPacks, Rush Street Interactive, Inc. (NYSE: RSI) ("RSI"), which operates the BetRivers Sportsbook, is now bringing that same winning excitement to baseball fans with the launch of PropPacks for MLB, just in time for summertime action at the ballpark. This innovative digital baseball card game brings the nostalgic thrill of opening a pack of sports cards and combines it with the high-energy excitement of prop betting. PropPacks for MLB offer BetRivers customers one of the most interactive and rewarding ways to engage with Major League Baseball action—all with the chance to win up to $1,000 in bonus credits or other exciting awards on every card. Fans who place $10 or more on qualifying Same Game Parlays (SGPs) for MLB games will randomly receive up to three digital PropPacks player cards per game at no additional cost. Each card features a player from one or both teams in the game. If that player achieves the Hits or Strikeouts milestones featured on the card, bettors can win escalating prizes based on the difficulty of the achievement. PropPacks come in three tiers—Bronze, Silver, and Gold—with Gold cards being the rarest and offering the highest reward potential. Unlocking a Gold card could lead to the grand prize of $1,000 in bonus credits. 'Following the enthusiastic reception to our NBA PropPacks, we're thrilled to bring the same excitement to baseball,' said Richard Schwartz, CEO at RSI. 'PropPacks give MLB fans another reason to get in on the action by adding surprise rewards to their Same Game Parlay bets, creating more ways to win with no added cost. It's all part of our mission to put players first by providing more value and innovation across every major sports season.' PropPacks are exclusive to the BetRivers Sportsbook and available across all platforms. In addition to PropPacks for MLB, BetRivers will offer a full lineup of baseball promotions throughout the season. Players can visit the BetRivers app or website and click on 'Promotions' to explore the full suite of daily MLB offers. 'PropPacks for MLB are another BetRivers exclusive that demonstrates our commitment to delivering creative, engaging, and value-packed experiences to our players,' Schwartz added. 'We're excited to keep building on the success of NBA PropPacks and expand this fun format across more leagues and seasons.' Link to PropPacks promo image available upon request. About Rush Street Interactive RSI is a trusted online gaming and sports entertainment company focused on markets in the United States, Canada and Latin America. Through its brands, BetRivers, PlaySugarHouse and RushBet, RSI was an early entrant in many regulated jurisdictions. It currently offers real-money mobile and online operations in fifteen U.S. states: New Jersey, Pennsylvania, Indiana, Colorado, Illinois, Iowa, Michigan, Virginia, West Virginia, Arizona, New York, Louisiana, Maryland, Ohio and Delaware, as well as in the regulated international markets of Colombia, Ontario (Canada), Mexico and Peru. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 by gaming industry veterans, RSI was named the EGR North America Awards Customer Services Operator of the Year five years in a row (2020-2024), the 2022 EGR North America Awards Operator of the Year and Social Gaming Operator of the Year, and the SBC Latinoamérica Awards 2024 Casino Operator of the Year and 2021 Sportsbook Operator of the Year. RSI was the first U.S.-based online casino and sports betting operator to receive RG Check iGaming Accreditation from the Responsible Gaming Council. For more information, visit Contacts Media:lisa@ Investors:ir@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
RSI Q1 Earnings Call: Growth in Online Casino Offsets Colombia Tax Headwinds
Online casino and sports betting company Rush Street Interactive (NYSE:RSI) beat Wall Street's revenue expectations in Q1 CY2025, with sales up 20.7% year on year to $262.4 million. On the other hand, the company's full-year revenue guidance of $1.05 billion at the midpoint came in 0.8% below analysts' estimates. Its non-GAAP profit of $0.09 per share was 42.7% above analysts' consensus estimates. Is now the time to buy RSI? Find out in our full research report (it's free). Revenue: $262.4 million vs analyst estimates of $261 million (20.7% year-on-year growth, 0.5% beat) Adjusted EPS: $0.09 vs analyst estimates of $0.06 (42.7% beat) Adjusted EBITDA: $33.23 million vs analyst estimates of $27.1 million (12.7% margin, 22.6% beat) The company reconfirmed its revenue guidance for the full year of $1.05 billion at the midpoint EBITDA guidance for the full year is $125 million at the midpoint, in line with analyst expectations Operating Margin: 5.6%, up from 0.7% in the same quarter last year Free Cash Flow Margin: 10.9%, down from 14.1% in the same quarter last year Monthly Active Users: 203,000, up 27,000 year on year Market Capitalization: $1.16 billion Rush Street Interactive's first quarter results reflected continued expansion in its core online casino and sports betting businesses, with management emphasizing the success of player acquisition and engagement strategies. CEO Richard Schwartz attributed the quarter's performance to balanced growth in both verticals, highlighting markets like Michigan and Delaware for their substantial year-over-year gains. Management also noted that its approach of targeting high-value players while maintaining efficient marketing spend contributed to improved profitability and operating margins. Looking ahead, management reaffirmed its full-year revenue and EBITDA guidance, but cautioned that comparisons will become more challenging as the year progresses. The company expects temporary headwinds from the newly implemented value-added tax (VAT) on Colombian player deposits to continue, though this could reverse if the tax is removed. CFO Kyle Sauers explained, 'If the temporary tax goes away prior to year-end, we could see meaningful upside to both revenue and EBITDA.' Management also pointed to ongoing legislative developments in Alberta and other jurisdictions as potential contributors to future growth. Rush Street Interactive's Q1 performance was shaped by disciplined marketing investment, product differentiation, and geographic expansion. While growth was broad-based, management acknowledged the impact of temporary regulatory changes and evolving competitive dynamics in international markets. Online casino outperformance: Management cited 25% year-over-year growth in online casino, underpinned by product enhancements and cross-sell initiatives that increased player engagement and retention, especially in Michigan and New Jersey. Colombia VAT tax impact: The temporary 19% VAT on deposits in Colombia led RSI to increase bonusing in order to retain players, which compressed net revenue despite strong gross gaming revenue growth. Management noted this approach matched competitors' strategies to preserve market share. Delaware market ramp: Delaware delivered over 80% revenue growth year-over-year in its first comparable quarter since launch, with management expressing optimism about the state's long-term gross gaming revenue potential despite expectations for slower growth as comparisons toughen. Marketing efficiency gains: Marketing spend increased only 3% while monthly active users grew 17% in North America and 61% in Latin America, reflecting improved targeting and lower acquisition costs. Management attributed this to focusing resources on high-return markets and ongoing refinement of player acquisition techniques. Poker as cross-sell tool: Management launched poker in Pennsylvania as an amenity to drive engagement across other verticals. RSI plans to expand this multi-state liquidity model, using poker to attract new players and encourage cross-play with casino and sports betting products. Management expects continued growth in online casino, ongoing marketing efficiency, and regulatory developments to drive results through year-end. However, headwinds from the Colombia VAT tax and maturing markets are expected to moderate the growth rate in coming quarters. Colombia tax uncertainty: The temporary VAT on Colombian deposits is expected to remain a headwind for revenue and EBITDA until at least late spring or early summer, depending on the outcome of a constitutional court review. Management said the removal of this tax would be a 'meaningful driver' for both metrics. Market maturation effects: As new markets like Delaware lap their launch period, management anticipates slower year-over-year growth rates, which will affect reported results for the remainder of the year. However, established iCasino states remain key contributors. Legislative expansion opportunities: Management is closely monitoring legislative progress in Alberta and other North American jurisdictions, indicating that successful legalization efforts could provide new growth avenues in 2026 and beyond. Bernie McTernan (Needham & Company): Asked if RSI believes it is gaining market share in Colombia despite absorbing the VAT tax. Management stated that while exact figures are unavailable, their growth in gross gaming revenue suggests possible share gains. Jordan Bender (Citizens): Inquired about operational adjustments in Colombia to improve net gaming revenue. Management described ongoing refinements, such as reducing deposit turnover and monitoring competitor bonusing strategies. Jed Kelly (Oppenheimer): Pressed for details on the sustainability of marketing leverage given increased competition. CEO Richard Schwartz emphasized the company's focus on user experience and product differentiation to maintain acquisition efficiency. Chad Beynon (Macquarie): Sought clarification on the growth outlook for Delaware and other international markets. Management expects Delaware growth rates to moderate but sees long-term upside, while Mexico continues to ramp ahead of initial expectations. Mike Hickey (Benchmark Company): Asked how cross-sell between casino and sports betting is being promoted. Management highlighted new features that ease player movement between verticals, though they did not disclose the exact proportion of dual-vertical users. In the months ahead, the StockStory team will be watching (1) the resolution of Colombia's temporary VAT tax and its impact on net revenue, (2) signs of continued marketing efficiency and player growth as markets mature, and (3) legislative developments in Alberta and other North American jurisdictions that could expand the company's addressable market. The pace at which poker liquidity expands across states and the effectiveness of cross-sell initiatives will also serve as important indicators. Rush Street Interactive currently trades at a forward P/E ratio of 37.2×. Should you load up, cash out, or stay put? The answer lies in our free research report. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Q1 Gaming Solutions Earnings: Rush Street Interactive (NYSE:RSI) Impresses
Let's dig into the relative performance of Rush Street Interactive (NYSE:RSI) and its peers as we unravel the now-completed Q1 gaming solutions earnings season. Gaming solution companies operate in a dynamic and evolving market, and the digital transformation of the gaming industry presents significant opportunities for innovation and growth, whether it be immersive slot machine terminals or mobile sports betting. However, the gaming solution industry is not without its challenges. Regulatory compliance is a crucial consideration as companies must navigate a complex and often fragmented regulatory landscape across different jurisdictions. Changes in regulations can impact product offerings, operational practices, and market access, requiring companies to maintain flexibility and adaptability in their business strategies. Additionally, the competitive nature of the industry necessitates continuous investment in research and development to stay ahead of competitors and meet evolving consumer demands. The 7 gaming solutions stocks we track reported a mixed Q1. As a group, revenues missed analysts' consensus estimates by 2.4%. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Specializing in online casino gaming and sports betting, Rush Street Interactive (NYSE:RSI) is an operator of digital gaming platforms. Rush Street Interactive reported revenues of $262.4 million, up 20.7% year on year. This print exceeded analysts' expectations by 0.5%. Overall, it was a strong quarter for the company with a solid beat of analysts' EPS estimates and an impressive beat of analysts' adjusted operating income estimates. Richard Schwartz, Chief Executive Officer of RSI, said, 'We have started 2025 with strong momentum, building on our success from recent years. Our first quarter revenue increased by 21% year-over-year to $262 million, and our Adjusted EBITDA reached a record $33 million, nearly double that of Q1 2024. These strong results are driven by our commitment to innovation and enhancing the quality of our player experience, alongside efficient acquisition and retention of high-value players. The consistency and durability of our business, particularly in online casino, is reflected in our execution and performance and is the foundation of the optimism we have for sustaining our momentum going forward.' Rush Street Interactive scored the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street's published projections, leaving some wishing for even better results (analysts' consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 3.1% since reporting and currently trades at $11.74. Is now the time to buy Rush Street Interactive? Access our full analysis of the earnings results here, it's free. Getting its start in daily fantasy sports, DraftKings (NASDAQ:DKNG) is a digital sports entertainment and gaming company. DraftKings reported revenues of $1.41 billion, up 19.9% year on year, falling short of analysts' expectations by 3.1%. The business performed better than its peers, but it was unfortunately a slower quarter with full-year EBITDA guidance missing analysts' expectations. The market seems content with the results as the stock is up 2.2% since reporting. It currently trades at $36.18. Is now the time to buy DraftKings? Access our full analysis of the earnings results here, it's free. With names as crazy as Ultimate Fire Link Power 4 for its products, Light & Wonder (NASDAQ:LNW) is a gaming company supplying the casino industry with slot machines, table games, and digital games. Light & Wonder reported revenues of $774 million, up 2.4% year on year, falling short of analysts' expectations by 4.3%. It was a softer quarter as it posted a miss of analysts' Gaming revenue and EPS estimates. As expected, the stock is down 13% since the results and currently trades at $81.49. Read our full analysis of Light & Wonder's results here. Established in Illinois, Accel Entertainment (NYSE:ACEL) is a provider of electronic gaming machines and interactive amusement terminals to bars and entertainment venues. Accel Entertainment reported revenues of $323.9 million, up 7.3% year on year. This number topped analysts' expectations by 1.6%. Overall, it was a strong quarter as it also recorded a solid beat of analysts' EPS estimates and a decent beat of analysts' video gaming terminals sold estimates. Accel Entertainment scored the biggest analyst estimates beat among its peers. The stock is up 5.9% since reporting and currently trades at $11.40. Read our full, actionable report on Accel Entertainment here, it's free. Famous for hosting the Kentucky Derby, Churchill Downs (NASDAQ:CHDN) operates a horse racing, online wagering, and gaming entertainment business in the United States. Churchill Downs reported revenues of $642.6 million, up 8.7% year on year. This print met analysts' expectations. Aside from that, it was a mixed quarter as it also logged a decent beat of analysts' EPS estimates but a miss of analysts' adjusted operating income estimates. The stock is down 8.4% since reporting and currently trades at $96.28. Read our full, actionable report on Churchill Downs here, it's free. Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. 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CNBC
10-05-2025
- Health
- CNBC
Dr. Jacqueline Olds and Dr. Richard Schwartz
Dr. Jacqueline Olds and Dr. Richard Schwartz are associate professors of psychiatry at Harvard Medical School and psychiatry consultants at MGH/McLean Hospital. In their private practices, they have worked with couples for 40 years. Together, they have written three books, "Overcoming Loneliness in Everyday Life," "Marriage in Motion," and "The Lonely American." Drs. Olds and Schwartz have been married for 47 years.
Yahoo
01-05-2025
- Business
- Yahoo
Rush Street Interactive Inc (RSI) Q1 2025 Earnings Call Highlights: Strong Revenue Growth ...
Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Rush Street Interactive Inc (NYSE:RSI) reported a 21% year-over-year increase in revenue for Q1 2025, reaching $262 million. Adjusted EBITDA nearly doubled compared to the same period last year, reaching $33 million. The company experienced strong growth in both online casino (25% growth) and sports betting (11% growth) verticals. RSI's North American monthly active users (MAUs) grew by 17% year over year, with Latin America MAUs increasing by 61%. The company maintained a strong cash position with $228 million in unrestricted cash and no debt. The newly imposed 19% VAT tax in Colombia negatively impacted net revenue growth, despite strong gross gaming revenue (GGR) performance. RSI's net revenue in Colombia was flat year over year in April, despite a 55% increase in GGR. The company anticipates facing tougher comparisons as the year progresses, particularly in markets like Delaware. Marketing spend increased by 3% compared to last year, although it was leveraged to achieve record EBITDA. The VAT tax in Colombia is expected to remain a headwind throughout the year, affecting net revenue and profitability. Warning! GuruFocus has detected 5 Warning Signs with RSI. Q: Can you provide more details on the competitive landscape in Colombia and how the VAT tax is affecting your market share? A: We are bonusing at higher rates to offset the VAT tax, similar to other operators in the market. This strategy has allowed us to maintain or potentially grow our market share, although exact market share data isn't disclosed. We are focusing on execution and managing the business smartly during this challenging period. - Richard Schwartz, CEO Q: How should investors think about growth in Delaware for 2025 and beyond? A: Delaware has been a significant success for us, and we expect continued growth. While the growth rate may slow as we lap the launch period, the market has the potential to reach a $300 million GGR in a few years, indicating substantial upside. - Kyle Sowers, CFO Q: With Pennsylvania joining the multi-state internet gaming agreement, how do you see this impacting your poker segment? A: We are excited about Pennsylvania joining the agreement, which will enhance liquidity across our platform. Our poker strategy is more of an amenity, aimed at cross-selling to casino and sports betting. We plan to expand into more states, leveraging our platform's capabilities. - Richard Schwartz, CEO Q: Can you quantify the impact of the increased promotions in Colombia due to the VAT tax on revenue and ARPA? A: The VAT tax has significantly impacted net revenue growth, which was flat year-over-year despite a 55% increase in GGR. The removal of the VAT tax would be a meaningful driver of growth. - Kyle Sowers, CFO Q: What is driving the marketing leverage despite the competitive market? A: Our focus on providing a unique and compelling player experience is key. We differentiate through engaging features and promotional engines, which help retain players and drive marketing efficiency, even without the strongest brand or largest budget. - Richard Schwartz, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
