Rush Street Interactive

RSI

Gambling, Resorts & Casinos · Consumer Cyclical

Price

$25.80

+0.19 (+0.74%)

Market Cap

$6.39B

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Exceptional

Cash Flow

Exceptional

Stability

Good

Valuation

Good

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Share count rising — dilution

+311.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 57.4M (2021) → 236.1M (2025)

Winston Score History

The full picture

Rush Street Interactive runs online casinos and sports betting apps in the United States and Latin America. Its main brands include BetRivers and PlaySugarHouse, which let customers place bets on sports or play casino games like slots and blackjack from their phones or computers. The company is one of the smaller but faster-growing players in the legal online gambling industry in the U.S.

Rush Street makes money by keeping a portion of every bet placed on its platforms, which is a model called "the house edge." It operates in more than a dozen U.S. states where online gambling is legal, plus markets in Colombia and Mexico. The company has built some loyalty through its focus on customer service and promotions, but it competes against much larger rivals like DraftKings and FanDuel. Its biggest challenge is that acquiring new customers is expensive, and profitability depends heavily on whether more U.S. states legalize online casino gaming.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+46.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-44.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

2.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$340M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Rush Street Interactive grew revenue 46% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

35.5%

Modest — 35.5% gross margin

Profit after running costs

Operating Margin

11.7%

Modest — 11.7% operating margin

Return on the money invested

ROCE

74.1%

Exceptional — 74.1% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+34.3%

Fast-growing sales (+34.3% YoY)

Profit growth

EPS YoY

+9.4%

Earnings growing (+9.4% YoY)

Single-digit earnings growth — steady but not exciting.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

572%

Turns 572% of profit into real cash

Spare cash per sale

FCF Margin

12.5%

Converts sales into free cash efficiently (12.5%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

100.00x

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

85.0x

Expensive — P/E 85.0

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+37.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (85.0 → 47.6)

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Dividends

Not applicable for this business.

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