Rush Street Interactive (RSI) investor relations material

Business performance and growth drivers

• Achieved broad-based growth across North America and Latin America, with Latin America as a major growth driver and North American iCasino outpacing market growth for 15 of the last 16 quarters.

• Focus on iCasino in North America provides revenue predictability, lower volatility, and reduced seasonality compared to sports betting.

• Market share in North American casino has grown for four consecutive quarters, supported by product innovation and user experience improvements.

• Record first-time depositors for four straight quarters, with acquisition costs at record lows, enabling increased marketing investment.

• Alberta launch outperformed Ontario on a population-adjusted basis, with rapid user growth and successful transition from gray to regulated market.

Competitive landscape and differentiation

• Differentiation achieved through a casino-first brand, real-time reward engine, community features, and innovative player engagement tools.

• Consistently delivers higher average player values and loyalty, with unique experiences available across all games, not just exclusives.

• Maintains stable market share despite aggressive competition, ranking as the fourth-largest online casino operator in the U.S.

• Competitive advantage in Latin America due to innovative product and operational expertise, outperforming local and international peers.

• Focused on cross-sell strategies and casino-first acquisition, with minimal concern about increased sports betting promotions impacting iGaming.

Regulatory environment and market expansion

• Only 12% of the U.S. population has access to legalized online casino, compared to 61% for online sportsbook, presenting significant growth potential.

• States with both sports and casino see casino revenues four times higher than sportsbook, making casino legalization attractive for tax generation.

• Prediction markets and budget gaps are expected to accelerate state-level legalization efforts, with Virginia and other states showing promise in the next 12–24 months.

• Successful entry into Alberta and Ontario demonstrates ability to compete in regulated markets, even when starting from scratch.

• Monitoring and preparing for regulatory changes, including filing a CFTC application to maintain flexibility in prediction markets.