RSI - Earnings call transcript Q1 2024 | Rush Street Interactive, Inc.

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Operator

Good day to you, ladies and gentlemen, thank you for standing by. Welcome to the Rush Street Interactive First Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. Please note that this conference call is being recorded today, May 1, 2024. the to turn Financial Sauers, now Officer. would call Kyle over Chief I

Kyle Sauers

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

meaning securities laws. federal Some comments be will the of forward-looking of our statements within the

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

non-GAAP our the deck, not XXXX is adjustments performance. rustreetinteractive.com. to of available business RSI amortization, Investors measures are which website share-based our isolation and compensation, prepared we results substitute for as depreciation GAAP. the earnings adjustments which we should In measures, or GAAP is can believe these not or we These particular, evaluating be accordance reconciliation and our considered operating useful certain our for discuss related financial comparable in be to discussing of define in net release in interest, income A our that in items directly taxes, in before income onetime During either measure first which noncash with as will we be most nonrecurring EBITDA, adjusted or loss the the measures other at non-GAAP a company's underlying section available will call, quarter performance. or investor and the

we're those For purposes basis. other when Schwartz, we Officer. on to referring a statement discussing of unless the me With than non-GAAP today, EBITDA measures call EBITDA noted otherwise, profitability, Executive items Chief today's call, Richard have or revenue, on income other adjusted

and with We I'll call will the turn remarks the opening that, provide questions. to Richard. And open call to then some over first

Richard Schwartz

Thanks, Kyle. our Good first XXXX to afternoon, call. quarter and welcome earnings

to momentum We ended with strong we XXXX. are with same pleased report XXXX which the we that began

on players. of product players to our and a margin, is First quarter finding $XXX revenue up are we Players simply, represent $XX and able we improvement very meaningful was are retain platform team to XX% was adding Both average and these quality more Said our the these quarterly year-over-year. quickly. something we of. and representing our ability $XX efficiently more value, are proud We acquire this higher on achieve wide focus year-over-year, growth. new a impressive by million, these experience by EBITDA ever, players the figures were than high-value of profitability million, from to are million efficiently records continuing milestones to driving

This online continues increasing and be by we on users. driven continuation results record product active demonstrating to monthly quarter new saw sports iCasino both North The that experience grew values. player rapidly a quarter, and growth XX%, America, continually and engages improving In user again high-quality counts our of our and offer a platform. achieved to differentiate across is players last the During our efforts experience verticals. retains over player both in what and we balanced of a

first the quarter, XX% year-over-year. was MAU For growth

first in the continued quarter grow American monthly our during North months. Going in rapidly MAUs seen back to to we year, of accelerate beginning each America, In last have QX X the growth last of Latin MAUs our these in across increase growth first that at as as MAUs our come is LATAM North expensive did both we not markets we and were up in the at value American XX% users quarter. noteworthy It player year-over-year.

there takeaways are a highlight. to Next, few market-specific

vintages, up revenue in in across across first to This during the and continue growth X. While led grew growth. newer to to all revenue newer America we markets contribution XXXX, reach drive the and markets XX% outsized Latin our market Illinois Pennsylvania XXXX. other of quarter Quarter markets In U.S. from since markets launched year-over-year experienced our than growth XX% XX%, from revenue Canadian

our arrangements Thus, revenue overall a states. in QX. as markets to of expand, in lower is the margins contributed our Pennsylvania due reminder, percentage from and other should Illinois what which we a partners our operating these increases, As with in are land-based margin saw

strong performance early earnings newest our its we Delaware, continued call. highlighted last during that Our market,

We our the other and market level iCasino to with annual a of QX, million, to our run products the on scale to validating GGR was achieved spend during Xx proportion similar million a of belief this iCasino, the around and and our focus and For our states last the allowed. $XX of online increased month increase GGR call nearing respond and trustworthy this rate rate both experience. attributed ran approach, driven million previous We $XX high-quality over quarter. level sports of for a $XX our that March on shared players to differentiated in betting we a customer focused are end by appreciate strong marketing the with operator from XX% was

has many bill you topic on expand a additional Delaware, sports to a been of introduced While there and have online to seen, betting of operators.

remind support only to in positive remaining in this current We there structure the topic stakeholders I'll on leading feel effort place. event have are to the In you a is key change, from betting. us in involved online the state, the loving sports on actively discussions of and applies

saw market be mature newer of from to resurgence While markets. growth, strong more also continued some our our we a

in had Pennsylvania, revenue highest casino and rates largest Michigan, the quarter, During year-over-year years. our each online our X growth America: in X last North Jersey markets New the

resonating is in experience iCasino growth customers, driving the new existing solid and existing very on with these markets. focus Our

Turning LATAM to our operations.

to extremely pleased in be Colombia continue and our We performance with Mexico.

and evidenced to XX% markets. invest customers year-over-year for of Latin our in both bet lot ARPMAU room we as these brand continued in of MAU translated a year-over-year Our is by as growth America, increases revenue with This with resonating growth. Rush

In by an working. terms value high-quality our our retaining marketing to approach, the of while the experience. strategy highest to wavered, on not continues And them ROI target has with this We attracting and a players improve. platform them offering execution opportunities is our highest emphasis

Specifically, in efficiency marketing costs. in I'm we greater our results continued deliver to very driving proud that have

ever the do highest in company number in launch ago. XXXX. less since QX, and depositors a North we've as a of CPAs in lowering America New fact, first York In while we year our than been the our had of this were to to of highest half what And able quarter first-time our they in

Mike first XX place Dover for at BetRivers inside sponsor partnership announce Network. our in Cash the an of race. opportunity Series of Motor Network, which to The the our unique BetRivers renewal on players. of our were event and historic the promote quarter legend, for Delaware April were place for fans event. proud of the we to on unique the sports to came while BetRivers launch One sports wagers a served event a partnership staple strategy, unforgettable brand took on the X time top to same excited marked from XXX, we as betting who sporting acquiring is mobile Speedway, a is a locally title of players and our Subsequent in the Dash history to strategies heels to supporting engage In of mind raceway. state keep and sports as Francesa, NASCAR also customers which of also our end, the investing with our Xfinity Delaware broadcasting recently online our we light use our in This BetRivers brand announce

furthered goals. Lastly, the deliver to industries, of marketing his in and returns-based achieving Marketing through Officer. businesses our the scale the Brian commitment profitability repeatedly growth Throughout brand the successful first career campaigns hiring has led gaming and data-driven announcement as to marketing Brian teams of while Chief and company's Sapp mobile that we

entire very Our on is Brian team excited board. at

continue up markets across Americas. new to we opening a excited about the the of variety be opportunities front, On

this next Our Peru, we to later which be anticipate be launch summer. will market likely

We plans and our are opportunity. and finalizing strategy, this we very excited about are

Colombia about of population we and are adjacencies overlap is in X/X market with higher in GDP success the and Peru the reminder, slightly We with a capita. teams Colombia, will leverage. established Colombia there for given a well As believe per we positioned

we we as and range evaluate other to Brazil The they beginning reviewing to markets opportunities. continue for published, been As regulations in of them. assessing regulated are for roll out, so LATAM, have are a

markets, and these America. betting, noted about demonstrated past, and sports include to playing online both continue We call the Latin share that, updates will the to casino of strength as in Kyle. our markets over turn to multiproduct I'll which, online With typically

Kyle Sauers

Richard. Thanks,

quarter strong both million, iCasino by online sports and year-over-year, was driven over across products. year-over-year $XXX.X betting First XX% growth of our up XX% revenue

As also quarter market Richard highlighted previously, strong and geographies. across were first our results vintages

$XX.X our consecutive from and as business million trend due fourth to able a operations and our these were We flow-through negative million, We we're during our prior results continued $X.X to to continues positive of quarter increased the optimize. able to the up period. the and achieve year reached marketing EBITDA record for capture scales

was growth line result XX% growth and X% the reached value the America, user up was ARPMAU XXX,XXX, in top number to MAUs up $XXX. base. our of mentioned, previously while North of In As both our year-over-year year-over-year,

representing year-over-year over increase year up, also period. quarter, reaching were prior metrics MAUs X% during America Latin a XX% reaching and a the the XXX,XXX Our ARPMAU with increase $XX,

work the away the We have them platform, bring a onto to right while. hard for retain that players ways to find continue been well reactivate new efficiently and to those

as a for share that once wallets experience BetRivers bet entertainment convinced will and returning that keep find to as come. We their dedicate a are of players years the Rush ever large

increased For basis the XXX gross margin profit points XX.X%. sequentially quarter, to

for been the percentage and we first expect revenue As from that revenue XX% markets during public a we've and highest Richard accounted continue. quarter, the than other trend of the Pennsylvania to highlighted, Illinois since

strong in As marketing growth MAUs the very evidenced impact by with QX. of our ARPMAU, and we're pleased in our spend

For the single down promotions from XX% sequentially, which but year. period million, quarter, last up $XX.X same and digits advertising is the were

the to first As of a from in quarter XXXX. XX% down which percentage revenue, equated this of is XX%,

spend first step-up thinking is second quarter bigger is quarter, in quarter in and to compared to the with up be third likely marketing current that sequentially Our a QX. the

success revenue. X.X% our to G&A acquisition, flexible our remain quarter $XX.X unique plans. given course, with Of to million, finding equating to ways for we'll cost-effective of was continue in and drive first the customer

our due absorbed was compensation in G&A call, increase in QX highlighted rate the adjustments. in run annual last As much of to

percentage during a an we as continue to below of the revenue million in we to of our full with forward, year expense business the have Going the that quarter no the increase experience due $XX ended cash, We million unrestricted leverage X.X% and will believe continue quarter, we to as be G&A $XXX XXXX's debt. scales.

and Following up revenue from raising now XXXX. on be our both our revenue we EBITDA increases $XXX results, initial full midpoint year quarter $XXX guidance million, full year which to for first million, $XXX our between million guidance. $XX are million strong and the expect to We

as million, with our expect live EBITDA midpoint guidance questions. a as those please XX% $XX million $XX open includes $XX from only be markets up the And operator, to full million lines which And our up and guidance. $XX of We million, between increases year reminder, that, the for that to are today. initial and

Operator

Absolutely. [Operator instructions].

go the to Jed line Oppenheimer. with Kelly will of question first Our

Jed Kelly

Great quarter.

the a get but a you deceleration, do a sort guidance at some have you [comps], of half, full kind implies updated the looking back year Delaware. of Just of benefit of easing

talk can XQ? can March on holder trending update to there? in on about you an So April give just what's then And going relative us how you and

Kyle Sauers

beginning the for I of up like million solid guidance the question. compared feel before. $XX put something I'll when XX% here we're EBITDA million were EBITDA thanks the we again that remind say in $XX with would we growth we you like put we Jed, Sure. out the just year. and the then to guidance increased above year, to to consensus revenue and and of since really at numbers last revenue XX% -- call

for guidance, that growth variability you which us, the X in creating of think of there's rates out. to of -- that and tailwinds the in iCasino. to go newer that sports, but specific I the both question that your X sports in obviously things I business, sports or hold is We've going outcomes, in in markets, would is Delaware, into Maybe there. both referenced year, point new the in more seasonality question, so last some things your different but there's couple of great, the the there's for mind. implied Obviously, One first away a they second Colombia on differences year half in so our go half are. half in in tailwinds got this have year, for FX back stay the where last some the those revenue rates quarters a of year of year lot and assuming to factors exchange about year

The other in and to casino, of extent, is of ranges to our our thing QX. hold both and the in end QX maybe lesser higher sports last rates closer expected them year but were a

that little a in are reason. comps the So tougher because QX and of bit QX

Jed Kelly

you marketing give trending? can did then And the stepping you're and you is ROI reason think, it. how up Got in I a us for marketing your mention just XQ,

Kyle Sauers

Yes.

think money for to QX to all, in we're first pretty less the lot FTDs bring because to than stay see on originally going to this in I been players spent had that valuable new are directional a We were at places a what we in to looking -- we it. company's they've we on half that good year give to for opportunities, spend, put use the work. -- mentioned CPAs highest of some We of prepared ways marketing anticipated good in dynamic and want lot to history. but of trends put remarks be trying So we they to money are rate and time the are so to last always are us.

the further. spent So a our little in QX then calendar change, sports iCasino, And that would of little for QX. is that thinking in we it in going to be up the we'd a could I range bit think both Certainly, the for the that's current winter and into reason QX QX, bit than part a expect step more guidance. what

Richard Schwartz

Just adding a value. us chance investing want on on, do flexible best where the remain focused Jed, to and gives just we see -- to we This that.

Operator

you. Thank

Our next question Katz David line the of Jefferies. from comes with

David Katz

sense sure doing your that or expectations you I missed I'm But you everyone, afternoon, are. could how just remarks. where on depending Apologies not I and sort of mentioned if us Richard, in and for a evening, it. Delaware what Jed Good I prepared are? heard you're there know and ton a give your outlook

Richard Schwartz

Sure.

there, think December. we're versus end by to us casino dramatic the offer the and the quality to accelerate we think what We've Dover. in for We the prior definitely were the of we're big event, being now experience sponsor tremendous there quarter, that, X on would supporting last of been the race say just exciting, brand it's our like we're I is lots the million what business try We invest rate activity the last was some along thought to was that players, our from for things we lot going moving awareness think know continue shared year. the has We to and NASCAR run of that the business, great service a taking $XX from to positive it customer to we to grow -- a but think $XX the lot positive in do it at rate we we we growth marketing of was continuing the we're product weekend and $XX went growth feedback recently I success, being noticed that opportunities. user are a we at the that featured with the I to around -- million. held was that been having but near racinos able unclear a run GGR a the of look seeing over will that is performance forward targeted the there. there's improvement to what

I it's -- a very feel for at we it we be think future, but beyond us. feel to far optimistic like what is people market So about expected the

David Katz

of product All on we sports focusing kind product could shift of one great depth mean we of spend and product time the deal betting, about sort what categories iGaming, we've function product picture sports question to right. are, performance there are a we won't or in if and I just a within next bigger that discussion betting? And types they similar can anyone. the step like iGaming. next sort seen provide of [Indiscernible] tell

Richard Schwartz

for an couple be on from a little know competitive specifics it how Yes, don't a are I Most think to third-party on careful that operator. but in have will license as operators manufacture They sort reasons, this, I of we of create it. tell the like we unique call fund you to I'll that bit their public suppliers.

features, players our repeat that fun of unique creating experiences to ability we offering probably ways to ways in can't our us. to We really ourselves experience really win not possible. and is gamified play in they differentiate aren't features, elsewhere that's for social do unique that that But that a competitors, the somewhere but the a for else. very players ones site-wide than capability, parties understanding technology going for they been rolling unique as better something community to site, many are it's the create next giving There's as to of experiences, the confidence aggregate a compelling that that think exciting of having So company pipeline us how are Again, excited create very it's we've level working customer. most of user closely coming that are great design, very many we're be about. are libraries in-house, to things on down that the couple game big to third available features, I community if the out strategies

all results fun, you this that and develop again, create to exciting want done you these offer we're we things it's for returns experience in to we those we're the that's about. us. in about And more experiences audience. it And excited even or think put well but to delivered we've past, future and personalize the when that are together, what really this promotions, do, exceptional hard we you So new year for equally ones later the have launch

Operator

Our Macquarie. Chad line comes with of the next from Beynon question

Chad Beynon

here. sheet outlook. X at strong like really is Nice is cash balance looks your balance the been end Kyle, a and on position. quarters in it's highest based results in of quarter, your It least

balance, M&A, Can So given cash allocation? kind whether that EBITDA, of the capital frame about you of out? it's the outlook this, of uses thinking are how you

Kyle Sauers

Yes. wasn't be were asking you ago and I'll don't point we're cash? enough And generating did out it quarters excited, guys to now in position that have that many and happy we're that see we that we're plenty pretty so about, changing.

of the we're obviously, to highest be. in think of cash, I at at conversation opportunities might And things. terms looking use that and where and return we the evolves those continue different look always

biggest the new to that as got we've have for ready market think for powder thing I be launches. dry and

and that's that is or the So first M&A doing. look that think we acquisitions additive foremost. tuck-in could at continue we're what to thing And be I to

Chad Beynon

are they please? skew respect us that where are help then are live in towards to are that more thinking And with slots? in significantly it. just with or generally your we users, you customers of live kind their time to that, that customers dealer active of are going Appreciate Could of interested dealer, journey? kind at looking And these

Richard Schwartz

in We category. that growth have help strategies think know, is do of you dealer will the the efforts there's think, achieving than opportunity as certainly I for We've deliver, doing stronger a U.S. done we dealer into great some Sure. an a Live us it's to globally, in live additional us to improving there well it's in live better category and lot put dealer.

in things markets, launch others is dealer been than early and diversify of it we've and additional the probably that -- more been have. we've a One to we've we also vendors use a more to in able done live our

sort bets integrating but the and live side adding and allow games that dealer player content types of a sort standpoint the to with So other experience way creates we're also helpful the is of way the for community some engage capabilities manufacturing variety players. from in of I think that features of players theme side the a fun, of our and will the fun again, our is

creating ahead So are live in it we diligently an in could one believe a category. category. We where of live dealer of for of environment we there's lot the growth the a sort is working and us be great leaders very on dealer

Operator

of Our next the comes question Dan Fargo. from Wells line Politzer with

Daniel Politzer

revenue it the the growth, like the of in accelerated terms quarter. in first looks In it U.S.,

in was think your number quarters. I growth highest of of it a pace

mean, other markets how it think acceleration there you're that's but give Delaware promotions of to a of or what in maybe in in? to If U.S. as I So that the from extent rest year the factors you could an some LATAM? detail the that even assume there, I in maybe are unpack just versus to kind of relates about and some on reduction

Kyle Sauers

Yes. question, No, great Dan. it's a

U.S. nice I Michigan, over highest think quarters. Latin U.S., year-over-year X wildly. your markets, our highest America had the to even a we fantastic. growth our Delaware, growing rate, Delaware Jersey quarterly years growth highest in been rate it's of Richard our many for pointed in growth really in -- growth many, rate Certainly, has That's very -- our New point, out us. Canada, Pennsylvania, the in Obviously, broad-based. and X growth highest is rate. that is win largest excluding and But

growing talked the just pretty it's obviously really also and you significantly. there's great pretty a lot that increasing So player of And powerful. on. count the do going about user We when things you're value,

Daniel Politzer

have and over Got these coming maybe different in are -- customers are it. seeing market? And data newer get iGaming? that to, customers new customers you to intelligence peers the terms in you're the on that access the that on is then from platform, customers these the to based coming the that the you your of Are

Kyle Sauers

to Rush a getting who already or someone platform? your whether are online is the on more Dan, on whether share gaming if we're from question people bet the is those BetRivers players or platforms, incremental we're to bringing

Daniel Politzer

as kind share? and Are little just a new brand new more your markets growth product in take to they Yes. accelerate to of maybe those or you bit of

Kyle Sauers

Yes.

sure. I greater the hard user iCasino of plays than who think value sports. to you for an in tell I'll counts, obviously, the value player only our someone that is know growth of it's

a valuable. Someone user more our quarter investor actually we keep there that. and deck in going have that or We that back this who playing But iCasino, does that both. we the QX, are past both sports had that between and counts slide quarter players to is far demonstrates in even each the growth just it's playing very balanced playing

us an into people So gaming think there's more getting ecosystem the I and element new of bringing ecosystem, the share. us

grow hard it them and imagine. it'd think to would been have it'd be pretty to we're user did add because like I our many be all average -- to dilutive, users I able have we suggest new that as per revenue iGaming be would

Daniel Politzer

That's getting I Right. kind at. of was what

Operator

line Our Needham. with question McTernan Bernie of comes from the next

Stefanos Crist

just to I Bernie. for Mexico, wanted to in on to show there. growth. to and the wanted calling path on ask profitability I continuing Crist Stefanos ask just strong is This timing

Richard Schwartz

that I'll launch about still revenue great the period. if update start. launch the Xx same the Columbia period. the in in referenced were having you information, past, over we're We're but We've to Columbia success time a

I profitable we we're Mexico. with and in think profitability, we to a reshold, in from unfolded in of see has were the the we've really actually terms accelerated great nice Colombia, have could you the Colombia contribution So basis relative how where years. of the And on story a first quarter crossed for we pace us in know recent at

Operator

Sigdahl next Our comes question Group. the of line Hallum Craig with Ryan from Capital

Ryan Sigdahl

hear guys are and think do how largest had thinking that you I issues from of issues, legal experience also offering helping? guess there. is want attributed Mexico, to of their the say to Also assortment tech dominant product is I some market that to on has standpoint? guess you profitability had about operator user partner, much much that dynamic the competitive some there how I with a good shares

Richard Schwartz

results to to some sportsbook our market larger than we've make revenues really a to tools for an offer flows of of have that the market. of our in good is way operators are of complicated others right think done proper been product Ryan, quality the I sports and lot when quality deposit. it's too our localize didn't in are region it think that casino, there quality. in the before brought market optimize we would you even many really Mexico the The some and in aggressively. their that building There's offered started experiences. sports register a book, versus We the quality experience Colombia, easier marketplace. market operators very casino and local market is But subsuming does the in the to a you of that to players our other our solution. quality job to know, Mexican for the say that a in casino I added make able play some operator a registration users with functions that first need first we've are in it high stand do we've and in to don't things that as parlay We've unique. that I the as do spend products nice out

like unique seasoned have probably we some us as the in see that you a promotions We We right we in available and audiences have that's tournament a lot we generate and system a a with ahead unique chance we've wallet for players that right when marketing features for promotions -- a built, something an good engaged There's engage times. have and at basis the frequent retain experience exciting reaching customers the enjoy some there's of some can we know, to do a isn't clever them. are anywhere running using of team lot where ways on we the else. share places a with we're advertisements have those doing that market. us growth that and customers we're really that to in And that higher

lot of be of a a long that, are market for declining like us shared So companies are and and I have growing competitor and ahead share it tough expect us path owns to growth there's to there. it share, slowly say a would but they yes, appears there, able

Operator

comes question with next from Company. Our the Mike line of the Hickey Benchmark

Michael Hickey

noise strategic a that there the the pretty Richard, as sale is was by of guess, and some a I think Bloomberg, on great credible which possible reported potentially seeking media you're still company. quarter Congratulations quarter. in I alternatives first,

I is in still mix the inquisitive. think being DraftKings are maybe

and curious process on won't if probably you you and a the just I'm but if for get start you I numbers. awesome. year-end. your your look mean, wrong formal it, revenue that's that's QX raising I from comment being -- each asked, Kyle, nothing you're true. question conservative the Kyle. So second the on the guess, guidance, heard X wouldn't you And over through grown I quarter back sequentially would years, I last when in why with your you've But

quarter conservative seasonality midpoint top And could your raise like FX, of on click it but so of that hold XX%, guide just up given and on your I first maybe seems raise and your the is the And that pretty again that's backdrop? given a sort heard if line, you double here.

Kyle Sauers

one first, that Yes, I'll Mike. take

the -- is little it, rate keep And the progressed a bit QX thing to our a And last comparables And and how Colombia. and throughout in good a heard QX and mind, tailwind year. exchange at still QX, year. in in so and better and given look there's a other then I so now of it if than just has right in QX, is but absent tougher in more QX it's about think with QX, for think where I you then there hold back history the go you point revenue QX

is point markets turned the at that year of this X or thing I super phase quarter have around that is each sort revenue had think have different we it cadence the high that positive X, don't in the year. are growth launched maybe then first negative that that in aided are the cadence that would throughout X, even launching that that and

nice endeavor any really it had you the like quarter and out different results and any we with, the can. put good year the guide on we post quarter, the get we're or following raise we obviously, new estimates nicely. revenue given with -- phone factors first comfortable those but Certainly, and we all quarter to increased it's if we've guys So really, range a that a and

Richard Schwartz

I'll jump first question. the on in

it? had a follow-up You to

Michael Hickey

go No, ahead.

Richard Schwartz

On the you that we and call. regularly can't that same first our question, in press, goal same I the -- article from and the to I But have. read value. I the the that speculation respond or shareholder the speculation all you obviously, rumors Board here management say to referenced, and press this on maximize have opportunities what can always is the evaluate is the

obligations. we part fully they're and the our of all aligned we management is to and assets believe build As to have us to substantial companies with of like a And evaluate as team shareholders, lot we what is are What are tremendous is shareholders. value will that shareholder opportunities continue to valuable built other to interesting investors. we continue ourselves the have to our

Michael Hickey

look you're I the a Richard, you fair from guys it, terms sale, your question? not formal [shake] be that, getting I alternative Richard, guess, why man, possible process on necessarily in about the definitely doesn't get I of and is a the market guess, like including are wouldn't delivering, a strategic start like it valuation. you why here and formal

Richard Schwartz

that just this public I can't We respond to Yes. that setting. question -- in

Operator

additional questions Thank waiting you. at There this are time. no

remarks. for pass back I'll to Schwartz closing the over conference So Mr.

Richard Schwartz

really us I'm are they again, and for achieving. of team today. Thank proud you, joining what our

our come. company, Our globe. a visits goals We quarter are of to our is commitment feeling enthusiastic, the look the for and teams. passionate offices visited couple fully the the progress share we results inspired quality left as all to second executive team our the those by months. members across They of in updating aligned and Thank recently on best and with We of yet our forward our you. you team

Operator

a hope I you conference of Thank rest your have today's concludes wonderful That for your participation. call. you day.

Rush Street Interactive (RSI) 1 May 242024 Q1 Earnings call transcript