{"id":1243,"date":"2024-11-02T13:13:03","date_gmt":"2024-11-02T10:13:03","guid":{"rendered":"https:\/\/xxbet-company.com\/rush-street-interactive-rallies-on-upped-guidance-buyback-plan\/"},"modified":"2024-11-02T13:13:03","modified_gmt":"2024-11-02T10:13:03","slug":"rush-street-interactive-rallies-on-upped-guidance-buyback-plan","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/nb\/rush-street-interactive-rallies-on-upped-guidance-buyback-plan\/","title":{"rendered":"Rush Street Interactive Rallies on Upped Guidance, Buyback Plan"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Innholdsfortegnelse<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/nb\/rush-street-interactive-rallies-on-upped-guidance-buyback-plan\/#Rush_Street_Interactive_Joins_Gaming_Buyback_Party\" title=\"Rush Street Interactive Joins Gaming Buyback Party\">Rush Street Interactive Joins Gaming Buyback Party<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/nb\/rush-street-interactive-rallies-on-upped-guidance-buyback-plan\/#Latin_America_a_Growth_Driver_for_RSI\" title=\"Latin America a Growth Driver for RSI\">Latin America a Growth Driver for RSI<\/a><\/li><\/ul><\/nav><\/div>\n<p>Shares of Rush Street Interactive (NYSE: RSI) surged in Wednesday\u2019s after-hours trading session after the gaming company boosted its 2024 earnings guidance while announcing a $50 million share buyback plan.<\/p>\n<figure aria-describedby=\"caption-attachment-313305\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-313305 size-post-thumbnail-858xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/RSI-858x429.jpg\" alt=\"Rush Street Interactive\" width=\"858\" height=\"429\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/RSI-858x429.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/RSI-430x215.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/03\/RSI.jpg 1000w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">The Rush Street Interactive corporate logo. The company upped its 2024 earnings and revenue guidance and announced a $50 million share repurchase plan. (Image: Rush Street Interactive)<\/figcaption><\/figure>\n<p>In conjunction with the release of its third-quarter results, the BetRivers parent said it now expects 2024 earnings before interest, taxes, depreciation, and amortization (EBITDA) of $82 million to $86 million. That\u2019s well above <a href=\"https:\/\/www.casino.org\/news\/rush-street-interactive-2024-guidance-sends-stock-soaring\/\" rel=\"nofollow noopener\" target=\"_blank\">the guidance the company issued<\/a> earlier this year.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>RSI expects Adjusted EBITDA for the full year ending December 31, 2024 to be between $82 and $86 million, increasing the midpoint by $16 million compared to the prior guidance. At the midpoint of the range, Adjusted EBITDA of $84 million compares to $8.2 million of Adjusted EBITDA for 2023,\u201d according to a statement issued by the online sportsbook operator.<\/p>\n<\/blockquote>\n<p>The Chicago-based gaming company also lifted its top-line forecast, saying it now expects annual revenue of $900 and $920 million. The midpoint of that range \u2014 $910 million \u2014 is $30 million above prior guidance and implies year-over-year growth of 32%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rush_Street_Interactive_Joins_Gaming_Buyback_Party\"><\/span>Rush Street Interactive Joins Gaming Buyback Party<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Share repurchases are increasingly common <a href=\"https:\/\/www.casino.org\/news\/mgm-continues-buying-back-shares-as-betmgm-revenue-soars\/\" rel=\"nofollow noopener\" target=\"_blank\">in the gaming industry<\/a> and Rush Street Interactive is getting in on the act, telling investors its board of directors recently approved a $50 million buyback plan.<\/p>\n<div class=\"callout\">\n<p>While companies aren\u2019t obligated to fulfill any \u2014 or all of any announced buyback schemes \u2014 should RSI repurchase $50 million of its stock, it represents a healthy percentage of its market capitalization of $2.39 billion. That buying activity could also <a href=\"https:\/\/www.casino.org\/news\/chanos-short-seller-democrat-donor-rips-election-betting-markets\/\" rel=\"nofollow noopener\" target=\"_blank\">make short sellers<\/a> uncomfortable \u2014 a relevant point because short interest in the gaming stock is 5.09%, according to Seeking Alpha data.<\/p>\n<\/div>\n<p>News of the buyback arrived with RSI sporting a year-to-date gain of 139.64%, which is easily one of the best showings among all gaming stocks.<\/p>\n<p>\u201cThis move reflects our confidence in the company\u2019s future and our commitment to enhancing shareholder value. Our cash generation and strong balance sheet provides us with the option to make this strategic investment,\u201d said CEO Richard Schwartz in the press release.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Latin_America_a_Growth_Driver_for_RSI\"><\/span>Latin America a Growth Driver for RSI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors embracing iGaming and sports wagering stocks such as RSI typically focus on those operators\u2019 US footprints and, to a lesser extent, Ontario, Canada. Latin America is largely overlooked because the bulk of the US-listed gaming equities don\u2019t have exposure to that region.<\/p>\n<p><strong>RSI does and it\u2019s an increasingly prominent though underappreciated part of the broader investment thesis. Third-quarter data confirm as much.<\/strong><\/p>\n<p>During that period, RSI\u2019s monthly active users (MAUs) in Latin America, including the operator\u2019s Mexico footprint, surged 122%. Average revenue per monthly active user (ARPMAU) in that region declined to $39 from $43, but that was buffered by the volume increase.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/rush-street-interactive-rallies-on-upped-guidance-buyback-plan\/\" rel=\"nofollow noopener\" target=\"_blank\">Rush Street Interactive Rallies on Upped Guidance, Buyback Plan<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\" rel=\"nofollow noopener\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Shares of Rush Street Interactive (NYSE: RSI) surged in Wednesday\u2019s after-hours trading session after the gaming company boosted its 2024 earnings guidance while announcing a $50 million share buyback plan. The Rush Street Interactive corporate logo. The company upped its 2024 earnings and revenue guidance and announced a $50 million share repurchase plan. (Image: Rush <a href=\"https:\/\/xxbet-company.com\/nb\/rush-street-interactive-rallies-on-upped-guidance-buyback-plan\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":1244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/1243"}],"collection":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/comments?post=1243"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/1243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media\/1244"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media?parent=1243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/categories?post=1243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/tags?post=1243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}