Company: RSI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001793659-25-000193
Chunk: 39

Company: Rush Street Interactive, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 EndedSeptember 30,($ in thousands)2025202420252024Revenue$277,911 $232,109 $809,535 $669,916 Less:Costs of revenue(1)183,385 151,119 528,273 439,554 Sales and marketing(1)38,074 38,646 113,066 112,734 General and administrative(1)20,417 18,951 58,686 55,734 Interest income(3,014)(2,277)(7,130)(6,255)Interest expense459 228 695 730 Depreciation and amortization10,188 8,471 29,506 23,127 Income tax expense (benefit)  7,177 5,274 (102,775)16,970 Other segment items(2)6,379 8,458 134,327 26,574 Consolidated net income$14,846 $3,239 $54,887 $748 _____________________________________(1)    Excludes share-based compensation expense.(2)    Other segment items include share-based compensation expense and tax receivable agreement expense.

F-21

Table of ContentsRUSH STREET INTERACTIVE, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

12.    Related Parties

Affiliated Land-Based CasinosNeil Bluhm and his adult children (including Mr. Andrew Bluhm and Ms. Leslie Bluhm, both members of the Board), through their individual capacities, entities or trusts that they have created for the benefit of themselves or their family members, and Greg Carlin, through his individual capacity, entities or trusts that he has created for the benefit of himself or his family members, are direct or indirect owners, directors and/or officers of certain land-based casinos. The Company has entered into certain agreements with these affiliated land-based casinos that create strategic partnerships aimed to capture the online gaming, online sports betting and retail sports services markets in the various states and municipalities where the land-based casinos operate.Generally, the Company pays a royalty fee to the land-based casino (calculated as a percentage of the Company’s revenue less reimbursable costs or other consideration received as defined in the applicable agreement) in exchange for the right to operate real-money online casino and/or online sports betting under the gaming license of the land-based casinos