Rush Street Interactive leads annual revenue growth in Q1
Online Gambling Quarterly analyses the key financial figures of igaming companies from the recent quarter
In Q1 2021 Rush Street Interactive led revenue YoY growth (compared to the previous year) with an increase of 219% (YoY); the average YoY growth in the quarter of all online gambling companies analysed was 73%. Regarding the quarter-on-quarter (QoQ) growth (compared to the previous quarter Q4 2020) best practice growth was achieved by Acroud/Net Gaming (123%).
Total revenue growth analyses (YoY) – for more data click here
The Online Gambling Quarterly analyses the total revenue figure across all segments and the revenue development for each vertical. For the Q1 2021 development of the total revenue, the researchers provide following insights:
- On average, total revenues (all verticals,…) grew in Q1 2021 by 73% (YoY)
- Best practice growth (YoY) was achieved by Rush Street Interactive with +219%. Rush Street Interactive operates the US gambling sites PlaySugarHouse and BetRivers and is live in 11 US jurisdictions. The online net revenue was $109m during Q1 2021, and the adjusted EBITDA was -$15.1m. Loss from operations in Q1 2021 was $27m.
- Lowest/negative growth – At the bottom of the ranking we find Bet-at-home and LeoVegas.
Total revenue growth analyses (QoQ) – for more data click here
In many cases, the YoY growth rates are exceptionally high due to acquisitions made in a previous quarter – an effect that carries through for consecutive quarters after the acquisition. Therefore, several leading companies in the YoY growth benchmarking have those top positions more or less due to acquisitions made within the 12 months before the analysis. The researchers at Online Gambling Quarterly have therefore decided to also analyse QoQ benchmarks as well. Those growth rates might be impacted by seasonal effects (e.g., football season versus no football season) and other changes, but these figures can provide a quick, current overview of the most recent growth dynamics while excluding effects of acquisitions in previous quarters.
- Average growth – On average, revenue grew in Q1 2021 (compared to the previous quarter Q4 2020 – QoQ) by 12%.
- Best practice growth (QoQ) – Best practice growth (QoQ) were achieved by Acroud/Net Gaming (123%). Acroud (formerly Net Gaming) is mainly an affiliate focusing on the online gambling industry. Revenue in Q1 2021 amounted to €5.5m and was pushed by the acquisition of PMG; the organic YoY revenue change was -10%.
Betting revenue growth analyses (YoY) – for more data click here
The Online Gambling Quarterly also analysed the development of betting revenue (mostly net revenue) in the recent quarter with the following insights:
- Average growth – On average, betting revenue increased in Q1 2021 (compared to a year earlier) by 45% (YoY).
- Best practice – Best practice was achieved by Flutter US (FanDuel,…) with 115% (YoY).
- Lowest/negative growth – At the bottom of the ranking we find Betsson.
For more financial analyses (e.g. casino revenue growth,…) have a look at the full report here.