RSI - Earnings call transcript Q4 2020 | Rush Street Interactive, Inc.

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Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the RSI Fourth Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. conference being this XX, today, that XXXX. note call recorded is March Please turn to call Financial will the I now over Officer. Kyle Chief Sauers,

Kyle Sauers

have Investor be found Thank now the rushstreetinteractive.com. heading quarter good and Results under the earnings access in RSI Quarterly should at the XXXX can you, fourth of to that afternoon. release Financials our section operator everyone By website

will of our comments be the Securities of within meaning forward-looking Some the Federal Laws. statements

statements. it. are phrases usually caution not words and interpreting statements impact of to results more actual and that differ Therefore, from condition. cause you use expect, expect. historical Forward-looking our refer results no We numerous detailed could risks by statements operating of materially identified We SEC facts what assume such should should, are and the discussion in or forward-looking responsibility are filings risks relying could will, to future the as for we that to our you the for financial other of exercise uncertainties similar subject and updating

the on in accordance GAAP. fourth available XXXX section our investors in During available operating comparable quarter of is prepared the discuss A we measure or these isolation These which non-GAAP substitute reconciliation considered our GAAP measures release, of as performance. be in should is in evaluating measures with not company's at be can a call, we the believe rushstreetinteractive.com. results directly measures, to the RSI for most earnings will website useful our financial which

first open that over turn call and remarks Executive then for questions. Richard have call we today provide Greg the the On Chief Carlin, the Greg. and Officer; Schwartz, opening We'll some to With I'll President. call

Greg Carlin

official Kyle good to company. everyone. and first calls our afternoon a earnings as public Welcome Thanks,

private and to team to monumental gaming all anytime a whose is experienced public start, we we from I a growth was and been RSI significant our support soon. owners critical off has online incredible the ending XXXX year of Both that And start. like RSI RSI's shareholders industry to thank trend our see XXXX. for XXXX transition would don't and Before very strong to and in company,

of and markets and where it's state for center success new XXXX gaming state and sources, sports casino online governments the during with With betting legalized, in revenue front remained been legislative online online sessions. looking

more generates anticipate online well will betting states consider sports states and sports casino similar as than legalized legalized West we more have While sports casinos legalizing than that have to online betting betting online casino, many revenue that Virginia.

in experience the profitable and vertical casino New betting more than Our Jersey sports and is vertical. is the that significantly larger Pennsylvania online

three casino was In two In company second online generated RSI the casino in Eilers Krejcik. revenue largest fact during XXXX, times XXXX, & betting States states. those sports the in United online of to online the according

customers. Our first to remain marketing and understanding by of the our and model, online is to our foremost our casino casino goal including design is approach in platform business and our driven a deep leader market

private million, revenue the sequential promotion revenue as marks $XX.X million. of modest total million. quarter-over-quarter. for Street expense advertising a eighth by grew XXX% we quarter growth $XXX achieved Rush of was that and growth also XX XXXX, consecutive small company During a to alone Interactive. Fourth We with It revenue sequentially, $XXX and capital with up quarter

gains unit significant we XX% further advantage Virginia. I'll up operate XXXX. pay and and at $XXX by four nine fourth improve we Today economics on upside follow for year, example, times, and expect competitive we the this focused quarter as all value in six ended on our state, success, for expect us of in giving jurisdictions plan online fourth quarter, metrics, in XXXX $XXX online jurisdictions this casino marketing in revenue in and discuss arguably aggressively spend balance during increase active the January is I marketing long-term online in the payback most online million gaming markets. betting online we year market hand West RSI we strategy. we quarter. exercised, launched for This In offering launched of our Illinois, launch the an the market of both cohorts we growth sports by if have New industry share and At of approximately increase in months. up marketing to we're per cash in will XXXX in betting long-term And are all and online sports of momentum. One the to our additional accelerating to believe tune in fast back with marketing now We're XX% and our Last of will investments of and and from Jersey Based monthly our planning cash Iowa. our strong gaming We casino revenue fine flexibility. full-year this. drive start second for to meaningful on seen online and continue full-year. over betting warrants $XXX Colorado And in million, the sports an U.S. Virginia entry Michigan product the all spend $XXX acquisition have average rates. sheet user we we was costs our driving leading and take customer our

for we regulatory addition, Ohio, license access to and announced law In and recently market Missouri state subject in agreement Maryland approvals. availability,

our operate North work states America. across representing team the on In opportunities with we is access development market of today can more the Our hard U.S. U.S. population announced XX% and we of total, South in than and potential at population. XX% market deals, access business reach

tool. our money cost customers as allows to acquire we've live going use on and gaming in begun This gaming acquisition potential as markets, going to money casino, social real is real an built platform promote prior Before the our to effectively real which market. new money in us live same our platform the brand

stack, guidance markets launch far on of this iPhone the on and strong and in stack our Michigan today. and improve Illinois in colleague launch We're Android first our because proprietary addition, XXXX, and We our launch base. substantially My expand In as the our to the day call. and launched in increasing team. our cycle App the quickly we demonstrated technology Google and as our operations Colorado, XXXX of In I'll Indiana. we've we're to to which continue were in we now player to Play the next betting about ability well new our later will first and upgrade to technology along beyond, the describe sports app Store. Schwartz Richard for excited expect share

and plans the we on the recently accretive expect of believe marketing We ability increase what executing Schwartz, the started million, aggressively our and increase between our securing positioned look President, we're of us. of existing describe remain growth potential We just and to expect anticipated stack We access and upside our York and midpoint million is represents existing to XXXX in our to take with markets, and million, $XXX reflects our the believe our markets, XX% acquisitions. improving Exchange new more strong call and confidence. advantage from front and be year-over-year. increase XXXX revenues we focused substantial turn our will $XXX in $XXX the about this on This in excited investment to listing spend. investing Richard at share who balance technology We're is getting cash New in Stock market to forward growth resulting plus operating and over the sheet, of gains. markets our market opened the in growing With analyzing our full-year detail. well prior potential future opportunity guidance our to approximately up results metrics QX be now curve from I'll growth highly to

Richard Schwartz

advancement. key Thanks, everyone. geographic by recent Greg technology our touching our begin launch, about metrics our on with afternoon, and before our concluding presence, good Michigan operating update and describing I'll

premium stay to the we things to we before, important. user them little We level. we all on offer, for target important users bonus sustainable right appreciate data do I strategy reasons highest them players shared players experience you example, and and the it's that the leading who volume isn't our really over because reduce to for the because players and content, quality player our selection bet but points to want on betting highlighted loyal reinforce not As focus who our for these will of have to but earlier, Greg us friction.

fourth to $XXX up quarter the for the quality in monthly United the XX% retain success attract States XX% Our full-year for high and our the per quarter, strategy average This revenue fourth XXXX. user and full-year, of the and validates was $XXX and during players. active

efficient economics a to or of online spend, where based intensely with marketing As us. well and we don't marketed retain that our importantly, relative we players our aim to land In example, unit extremely state an and new peers. convert Jersey, retail many to register, players and for New we believe have be sportsbook casino driving

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partner in Illinois, we casino per operates gaming to the we customer and base. is broader gross average with on both that Country The gaming online Colombia. casino and and XX%. clear we which we Iowa to of Today in and As markets. have online in Pennsylvania, we sports online of some profitable January, passes offer currently Example alone of sports sports gaming, operate commencing our combination and predominantly brands by launch and a sports of new Jersey, licenses. the Pistons. second in Penguins, York. The this, and a demographic, Pittsburgh male our in that more heavily and partners in a also betting our RSI markets, operations RSI local appreciate sports importance An we recently casinos of at attract that in Colorado skews sites player between five model generates player and split with secured five casino our enable online come approximately But addition to look markets, than at sports female betting male the existing in We to with the of expected that bettor XXth more sports online recently betting RSI on unit Philadelphia competitors New key betting economics advantage markets, when national comparison, fully reach launched partnerships our this entering those New operate one and Virginia. broader audience, quickly focus additional choose that At to personalities online betting casinos adding more demographic rely jurisdictions, with in West much times We local a based great to four We is such, a if with evenly in target category players. Flyers Indiana a a when Michigan, month. online the markets is online Detroit the of well-known where the in on only legislation quarter the is operate which retail revenue nine benefit Virginia and average book authorized. land around RSI the

market As accelerate expansion. will casino that have we future online access such, partnerships place market in to already key us enable

in casinos casino. and market Iowa Indiana, have in when states we access and the Illinois, Specifically, those Virginia, place online of online with authorize partners, provide agreements expansion if our

betting year when We New earlier on and agreements online sports approvals. Maryland significantly market casino online comment It's sports want than so opportunity we're in both availability, in casinos those state. potential to online each of casinos law betting XXXX New first The states has authorized terms demand subject casino also or calendar reception for pleased for of Jersey Ohio, to to both and success net to that revenue & exciting online and Eilers significantly In have important to note for quarter. and in represented is Missouri by online in the more the online example, profitable take Michigan both York, provide potential Michigan either state next license addressable Unsurprisingly, moment far. Pennsylvania become and many launch sports and betting expectations exceeded and dollars, previously tax our regulatory to announced market Krejcik, this in three state that revenue and the in if according almost times tax sportsbook. larger casino the grown I a total in provides.

in daily in quarter We XX%, Market be up the determined in Michigan see the continue one March the not to of during average one in with week results January. acceleration casino we first share over handle longer-term. averaged month, over but or will

two fast where four New half operations. Michigan revenue approaching than after we operating Our of Jersey in are less and are in years already months a

the In profit of experience fact, daily XXXX. we have upside we seen we markets differentiated New March than is generate we opportunity casino same We achieved during other where year. first time launched Michigan in for loyalty our player casino average over greater the other Jersey that more the Even the approved app our in Michigan, of is online in iOS over casino strongly the online handle as exciting states in period. and it player believe after million already Jersey, is such would had state full-year our new this as strong later $XX New contribution in week

front, & on constantly improving products broadening On our working we're the offerings. and pack

continue of improve we day for Rivers to acquire platform customers. to a retain look On our was submitted remains we Google Google. and the possible we apps. made by expand Android which new and proprietary We Xst, advantage improve the will key RSI, how constantly as and first Play for all service user customer benefit commitment Our to us applications believe Store experience and to March our

Android our Store. yet While isn't a app platform. of Availability of we in the drive Play our one anticipate ease our determined, in timeline Apps in will become first operators access for and that to Play should further Android United new platform, to the Android of launch the users approvals for to we which the States improve Store Google substantially the customers our launch will

Colorado next upgrade improve the major experience only user Iowa, sports a preparing Virginia. our on and all bet also We’re in iOS, month Illinois, to of market,

that having the there able the such results benefit of an iOS customer App, the were our the In product, our the we’re In we volumes half to the markets for say, the Needless in to of expecting and strength our to for launch our fact one to available, and will experience. retention. of in that, and without this work speaks in That said, XXXX Kyle. impressive is we the of as online achieve be sites without in With their year, on expand being already iOS an in anticipate customer also we sports revenues addition, proprietary app example, to iOS to will app market betting it stand existing sports iOS conversion second reach rates. exciting able product which improve improve launch casino user and an our casino for us, acquisition number betting our further have to back I'll service own. an prospect call turn products proven Pennsylvania, were and gaming

Kyle Sauers

Thanks, Richard.

results, fourth $XXX which quarter $XXX.X of posted million, financial million. total we to our brings XXXX our to revenue revenue Turning

brings loss million, was EBITDA million. adjusted XXXX XXXX positive EBITDA quarter full-year the Our $X.X our for to fourth of a adjusted $X.X which

one-time occurred adjusted Our an removes for of the compensation, in liability in XXXX change partner effects third and quarter full-year fair the the fourth periods payment and quarter of earn-out and based the casino EBITDA affiliated of the value of share XXXX XXXX. which from the

a of million $XX.X the was million affiliated year-ago a of revenue, fourth the $XX.X quarter cost based and fourth compared year Advertising million $XX.X year-ago. year-ago up was such, for to $XX.X $X.X adjusted full-year and a quarter, the fourth or casino XXXX compared for million of $X.X revenue $XX.X compared a quarter of XXXX full-year compared As million from the XXXX XXXX, $XX.X to for million for to $XX.X during our of XXXX. compensation was full-year million and of ago, also compared G&A expense the the payment $X.X to during share to for XXXX one-time $XXX.X the million for promotions for the the XX% XX% revenue quarter million cost revenue million million full-year and year-ago. $XX.X million in of adjusted was

listing the held million stock million million common XX cash was XX.X warrants. we Class on public completed previously to exercise $XXX of debt. XXXX exercise Holders their On an our $XXX.XX year $XX.XX of sheet our unrestricted ended mentioned, December exercisable to representing The the of was of warrants on and As aggregate RSI. potential no we share. at have of in publicly with balance the A warrants XX, February of the until cash redemption shares announced public XX are proceeds price for per total March with

over combination With on proceeds would million launch and execute a puts have the in warrant the on anticipated new increased from new strong sheet. RSI in redemption quickly balance markets available spending to its redemption, our cash strategy, to proceeds position business $XXX players. The marketing when us on in warrant attract

times As that mentioned first the reflects XXXX and at several the markets positive and $XXX attracting live is between you've the offering in a about planned for to and increase item professional million call as This aren't And company, on our public of includes line existing business to guidance increasing or year. occur the in XXXX from as beyond where been revenue calendars at anticipated currently we new talking see our income $XXX our in all earnings up call both players while our presumes rate and as spend new and XXXX the additional we those growth this we we're significantly $XXX that $XXX faster full-year with in markets. midpoint. earlier today that Greg revenue, a million trends the only percentage heard today, million we've we’re today, than in is we revenue million range and sports this the increase as we or marketing invest significantly guidance expect

adjusted As at the such, line we line expect we’ll loss with questions. operator, for EBITDA a also the and open that

Operator

[Operator Kelly from first Oppenheimer. Jed comes Instructions] question from Your

Jed Kelly

taking for questions. thanks my Great,

we gave guidance? the the the And on you're of could any the confidence in what give for just sales marketing? guidance and us increase should cadence loss year? guidance, on then quarterly Kyle, sort what to like this one of do you sort around provide how a expecting view you Just the And EBITDA can you

Kyle Sauers

the variability the And we've just want several maybe so with customer and take accelerate marketing going continuing we going ton that and Richard a the or investments growth cadence about. talk to the build to impact our the thinks in that's each And a to we're marketing confidence returns, of of effort. to, excited pace from market, increased building growth just markets I'll of how looks our the it in said, as guide, the year-over-year of grow a for as start here, Yes, there's say times to our we're let on really revenue of how on a some then fuel that guide, the live revenue so I'd market to acquisition, at it's increase, marketing for about whole. with advantage that of from we're going we're that that. we're revenue like, we momentum about going expecting And think to the obviously the about Greg all today, high have assumptions just set level,

contribution where a we about have year. think not of you full-year If last did Illinois,

we've Pennsylvania, how revenue growth new So that's Jersey it little nice these while ramp-up, we the in was which QX, of little about and And really ‘XX already might and for that be that little states bit us. the QX otherwise. to in QX, higher Michigan start expected about should that good have us drivers add about for year as contribute talked goes takes we’re QX, hold a had in percentage additional still exciting for thinking forward of a on then to were while that'll New calendar, XXXX a just on, sports walking in we helpful really a into kind with excited where

jump then confidence putting a just We've that the But cadence gives QX. factor it revenue as and new we'd year expect throughout without the the to lot range, of thinking lot in into seasonality, quarter. I online, cadence So year. grow terms into us about general, the got of we things it happen. markets or into your by a throughout coming percentages got of in exciting In

goes of So just it kind year I'd expect build the on. to as

Jed Kelly

And then interesting. pretty Michigan, on

how overall the you March on growth compared in know the your relative industry Just Do Michigan? KPIs. to

Kyle Sauers

No, data we that haven't seen yet.

for from the hard promotional numbers of out just I predict XX the everything on which January, was and of days And Michigan think released month were XX expense the of based it's days. else. the only launch trends first to

Jed Kelly

one right. All for me. just And then more

a you I did guess skin I the the New per skin? other On access, York, your states. adopted agreement with casino, it New New York gave them you York Penn, got Penn State override would you of skin to think access in was sort single If three

Kyle Sauers

you second say the skin, yes New and in RSI skin. first RSI skin, the the skin York Penn has has our When

Jed Kelly

Got it. the you, on congrats results. Thank and

Kyle Sauers

Thanks.

Operator

question from comes next Ryan Craig-Hallum Sigdahl Your from Capital.

Ryan Sigdahl

guidance. the on as as the Congrats well guys. results, afternoon, Good

Kyle Sauers

Ryan. you, Thank

Ryan Sigdahl

QX guidance. to Virginia, two coming there's unique dig in million on in of commentary the West some as it want on sequential $XXX QX cetera. sequential QX, throughout in new Just sit growth et Kyle, things online, states minimal QX, implies helpful in year, kind at realized despite we the

fairly sequential Is to So QX it implies guess read? that sizable I right the QX. a from decline

Kyle Sauers

we expected. that calendar about there good really hold in full-year Yes, was for us guide for stick probably guidance we'll relevant is QX. the for that industry to a percentage I made than go rather us, relevant I sports than are into about the was and But better revenue and think think sports back think a little QX I comments that

as think that I saw I well. others from

QX, terms. would number down And don't trending, I is a or we're want guiding those since we're specific what to exactly So necessarily. think were I QX say it for year. up about we not doing in about last very don't to But excited obviously know to how I that relative

Ryan Sigdahl

And to on then didn't guess, Michigan, there. isn't, secondly app get And I then why one on you why have day in without don't an an that, app, just the one what's live one? you Michigan? performance Pennsylvania, the strong app have timing there in

Richard Schwartz

I'll take that Richard. The and as one, markets the Jersey timing Apple We for to the app like their had decided change sportsbook of have is we half this long And for this an revamp do for many entire casino a But ago. to of casinos Michigan second year. goals. not years. Pennsylvania of in sort our needs too address long-term its policy Apple's app of New

so now long-term. the the out to building be we essentially And product way scratch it want from we're

on goals excited actually the opposed may existed of to path. to not And leverage and and our already we something the that investing development long-term success something serve building we're focus to long-term So of that by decided new, as company. trying

Ryan Sigdahl

then see Good be application, you once Google. Good. day be any thoughts get approved? timing all states of hearing to or And on can then them, And you're kind follow-up in can one that are to and what you live approved on of what you one? the on

Kyle Sauers

an couple store. app one, at are that have Virginia there markets for applied such that a all there's, West So supporting states, day to and as submit Michigan, we are Google's not authorized of yet the

to applications go live. were So

tell bit in back the to be of little we making approvals focused aggressive But very be as once processes, there's it's markets. a of to staying our So out ones one are that very available. and process we'll be that those the not we're But timelines completely are those on going launch doing and to soon everything a sure as control, we're can forth available, and us. on new you through are submitting first and need the it's because I

Ryan Sigdahl

acceleration you any in marketing spend, spend? for promotional on question Last change me, just thought in mentioned

Kyle Sauers

they're under that for right retention And is deck, on as for on the spend, that experience joined bonus and a players. with on that strong we really Yes, us seeing it average like we're to in the reasons our website we and our there we to showed players our quality obviously continue market, like we promotional these focus offer. because they're the really in post are let's premium players have not Pennsylvania we

not modifying have new at some of non-viable pull where So which markets on going the always while we'd that becomes competition strategy as important on the that to in we we're looking we'll experience open just it's believe our players we're different is market, We that certainly and at markets, each be considering are do then focus point, strongly And doing. perhaps what the get to the retain extent user, and longer-term. it they're players sort to we the bonusing offer experience basis. back and rather loyalty of the

Greg Carlin

higher a to customer. you're and value doesn't mortar bricks that lead increased promotional world of spend lead to doesn't past increased the That that, necessarily experiencing is share. is this said the We've wallet lifetime

I promotional that. that think our strategies is with So consistent

Ryan Sigdahl

luck. good guys, Thanks

Operator

from from Your Grambling Stephen next Goldman comes question Sachs.

Stephen Grambling

to between quick terms around [mails are guidance. of in in follow-ups and the then beyond? to to any target remind marketing - benefit and just quick then as just how and in what of can to ramp the the relates of that then look it marketing? marketing you And Can theoretical much guidance split Hey, on I that us one guess And invest are a on couple the XXXX you're you ROIs guardrails embedded in we thoughts us and willing hotmails]. think give about to side, follow-up what what's as first the it your

Kyle Sauers

hotmails], the what to specifically, we be the of start break probably in XXXX. Yes, to expect that not [mails just so of I'll and going down each terms impact on

to as to take plans. We're flexible marketing available certainly advantage we good the how results. lack and know It I that good spend, work the gone of We that number year. put And talked for and a on back accelerate going going was marketing capital was remain us customers. marketing the now. what's not are give to before, specific we're or money holding didn't seeing on a opportunities execute in opportunities we of not the this additional restriction impediments on On we're and was, when XXXX but about restriction drawing to

we're So expect spend. going invest as let I'll they'd there. than it add Richard Greg And revenue, that we real in or marketing grow increase to see in our if healthy like. to a 'XX faster to that, we'd

Richard Schwartz

product I'll focus a rates high is on revenues, What our very our different on payback percentage at really on market net relative level, And a a But very ended goals percentage spent payback last in we that one of marketing different markets. marketing up at very percentage our heavily different net to a revenue. can strong, on what of add tax for as low this spent we $XX at categories very net we based look markets in different a million we we heavily and are with year, focus revenues. over each and our budget allowed, of model, as marketing, our was

marketing well. So unit budgets And Kyle marketing it get much increase that that more now flowing substantially are economics we marketing confidence to performing mentioned that we opportunity, to justify as have a larger our spend. spend, an can substantial have

Stephen Grambling

clarification. And quick just a very

first ramp, that that year acquisition guess spending So we thereafter? next some in additional customer and be expectation or I would that see the would potentially the with in ramp

Richard Schwartz

of a have spend course, you quarter, benefit see and the and In in current in when so the marketing and spend, quarters industry plying as in years. you terms others timing, of typically will the been subsequent marketing we're increase larger beginning

increase hopefully So as to spend, the quantity well. ramp-up. targeted quality very of is and time But that higher to key is a and take some to players, keeping going acquire

Stephen Grambling

much. in I'll jump so thanks Understood, queue. the back

Operator

next Benchmark Mike from Instructions] Company. comes [Operator Hickey The question from

Mike Hickey

congrats Richard, guys. Kyle, Greg, Hey,

for First my first to guess Thanks one results. taking back of just guide. of the, than seen realize this results, quarter, is XX great I curious we here day Obviously Michigan more I have. great on questions. you've the sort just

the certainly of surprises I like some, for think casino terms FanDuel share sportsbooks the us success within for in one and of a maybe of DraftKings online market. the was

I'm part own in sort that of app And of have that is those you're hearing of least some the of And identified of your their what Just of differentiated is is your a as also there a sort on of your of that competitiveness guys. second casino I'm quick Thanks and casino. guys peers value. curious, at just you success. the a sort of games lot the having follow-up. making them curious of on and lot thoughts one the on competitiveness sportsbooks and side, I seeing really provides sort think games,

Kyle Sauers

take to one? want you do Rich, that

Richard Schwartz

Sure.

showing brands New to Jersey, course, of that fantasy On the sports the XX% to XX% data seen in we've some first converts the question performance betting. databases, points about sportsbook of

at head multiples a cases, databases have large in start there's casino some years fancy generated many of certainly at millions of Detroit So of and land of dollars based databases, companies very hundreds some in that having database past terms are very in of casinos value.

in growth lot some But very very, that we indicated, we in the that that players that course will So is from But a have betting online think play scratch well. may that as where as the seeing business really because would addition truly our that that's growth of growth a I it which of convert a say table will engine. market. sports as games, have big to strong, we fast But we're well, of started part from is and flap market. we we exciting also of for our lot be playing in ultimately,

own generator Jersey. that random games, Blackjack our game. did games for terms In [indiscernible] games And the a market is our actually us of in of ago. sort create top for that fact concept we game table years several New it's in own number We performing pioneer of in couple

get it we a of course, because you quality offering rather than it's content. to be higher sure third-parties. yours. play content that to product of advocate world your are you're definitely has at make offer But own can potentially, we from inferior class. We'd really So an players it's that Otherwise,

that And to that we so there explore. additional are continue as opportunities bring something content for at, we're us to looking

Mike Hickey

question on But like swap you had lot It the still second performance. during Thanks, of a looks success guys Obviously, share initially. is may some there with have you strong obviously Illinois. QX, have FanDuel.

near-term, enhancements, making about side. the bet betting you you're some think also of a scenario you sort enter of the we're just sort on or in app. innovation improvements speak sports Barstool tomorrow, And the maybe sports I or Now lot seeing seeing on competitive to can market then maybe Illinois your definitely talked

some will Just on think regaining beneficial be that curious if you share in Illinois?

Kyle Sauers

I can take that.

this we in going Illinois, little But think at markets as year. days sports app. customer growth market, betting other watch the far early as maintain beneficial share. than in see Barstool our upgraded our think sportsbook be it's still look if average going it'll it So customer, to it's a Illinois, iOS still tremendous you do we with we And look And of older. where the think, to bit in launching we actually if our Illinois at higher and sports, betting we'll And, per the you the you're skews in all were operators. generally market our

and little And of differently so some than we think we're Barstool's a competitors. positioned other the

think I we launch. but when the market they So, grow will do mean, it

Mike Hickey

Best right, All thanks guys. of luck.

Operator

our for was back call to Carlin turn That question. the remarks. Greg last closing over I'll

Greg Carlin

joining Thanks we first May. first continued in when quarterly Thanks. everybody progress providing We our forward call. quarter on update an results our look our for report to

Operator

today's concludes participating. Thank and Ladies this conference call. you for gentlemen,

You may disconnect. now

Rush Street Interactive (RSI) 11 Mar 212020 Q4 Earnings call transcript