Company: RSI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001793659-25-000047
Chunk: 67

Company: Rush Street Interactive, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 15
Chunk 67
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 involves free-to-play games using virtual credits that user can earn or purchase. The accounting policies for this segment are consistent with those described in the summary of significant accounting policies. The Company’s CODM regularly reviews financial information of the single operating segment for the purposes of assessing performance and making operating decisions. The CODM uses consolidated net income (loss) to allocate resources and assess the performance of the Company by comparing actual results to historical results and previously forecasted financial information. Consolidated net income (loss) is also reviewed to assess whether and when to reinvest profits, for example, expanding into new jurisdictions, acquiring businesses or distributing dividends. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets.The Company’s revenue, significant expenses and net income (loss) for its consolidated segment are as follows:Years EndedDecember 31,($ in thousands)202420232022Revenue$924,083 $691,161 $592,212 Less:Costs of revenue(1)600,920 463,950 413,677 Advertising and promotions(1)155,842 158,425 218,412 General and administrative(1)74,782 60,618 51,905 Interest income(8,450)(3,703)(364)Interest expense957 938 937 Depreciation and amortization32,203 29,759 14,325 Income tax expense24,566 11,209 8,961 Other segment items(2)36,027 30,020 18,691 Consolidated net income (loss)$7,236 $(60,055)$(134,332)(1)Exclude share-based compensation expense and change in TRA liability.(2)Other segment items include share-based compensation expense and change in TRA liability.

12.    Related Parties

Prior to the Business Combination, RSILP’s principal unit holders included Neil G. Bluhm, Executive Chairman, and NGB 2013 Grandchildren’s Dynasty Trust (collectively, “Bluhm and Trust”) and Gregory A. Carlin, the Company’s former Chief Executive Officer and former vice chairman, and Greg and Marcy Carlin Family Trust (collectively, “Carlin and Trust”). Bluhm and Trust and Carlin and Trust had interests in RSILP of approximately 73% and 20%, respectively. Both Bluhm and Trust and Carlin and Trust are the owners of the Sellers’