Rush Street Interactive (NYSE: RSI) ended the third quarter of 2026 with 607,308 monthly active users (MAUs) in Latin America, up 46% year on year. The company presented the figures on its earnings call on October 28, led by CEO Richard Schwartz and President and CFO Kyle Sauers. The figures in this article come from what was presented on that call.

Latin America: strong growth on a weak base

Regional revenue rose 218% year on year. Online sports betting and online casino each grew more than 200%. Latin American net revenue held level with the record RSI set in the second quarter.

Average revenue per MAU in the region was $58, up 113%. The company attributes this to two factors: it stopped bonusing in Colombia, and currency movements worked in its favor.

These percentages need context. The third quarter of 2025 was unusually weak because RSI offered bonuses in Colombia in response to the VAT there. That base effect inflates both the 218% and the 113%.

Colombia remains central

Management said a 16% gaming tax, imposed by emergency decree, applies through year-end, and that it expects the rate to return to 15% in 2027. It also said the 2027 budget, approved on October 20, adds no new gaming taxes. September had the year’s lowest sports hold in both Latin America and the US.

Company-wide figures

  • Revenue: $385.9M, up 39%.
  • Adjusted EBITDA: $62.2M, up 73%, a 16.1% margin. This includes a $4.3M foreign-exchange gain from converting Colombian pesos to dollars.
  • Net income: $28.7M, up from $14.8M.
  • Online casino: about 75% of revenue, up 32%.
  • Online sports betting: about 25% of revenue, up 70%, helped by Latin America and the World Cup.

In North America, revenue rose 14% and MAUs hit a record 300,572, up 34%. Revenue per MAU fell 15% to $309.

RSI kept its full-year 2026 guidance at $1.56–1.60B in revenue and $245–265M in adjusted EBITDA. In October, revenue was tracking toward the low end of the range and EBITDA near the midpoint. The company reported $382M in cash and no debt, and bought back $14M of shares in the quarter plus $11M after it closed.

On the World Cup, RSI said that compared with Copa América two years earlier, it signed up significantly more players, retained them at a similar rate, and they have been worth more since. A larger share also moved on to casino.

Mexico in the discussion

RSI gave no Mexico-only figures; all Latin American numbers are regional totals. Management said the company performed well in Colombia, Mexico and Peru. Schwartz called Mexico “another important market for us” and described the current government’s focus on stronger enforcement to protect the existing legal framework as positive.

Asked by a Stifel analyst about Brazil, RSI said it does not operate there and is watching whether global competitors shift marketing budgets from Brazil into its Latin American markets.

What it means for operators and affiliates

RSI’s Latin American user base is now about twice its North American one, but each player is worth far less: $58 versus $309. For affiliates, that means high volume at low unit value, which matters when negotiating CPA or revenue-share terms.

RSI says its acquisition costs are low; marketing spend was $54.7M, or 14.2% of revenue. If marketing money displaced from Brazil arrives, as the company itself flags as a possibility, competition for traffic in Mexico could intensify. For now, that is a scenario RSI says it is monitoring, not a confirmed trend.

Finally, the triple-digit growth rates largely reflect a weak Colombian base and should not be read as a sustainable run rate on their own.

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