Rush Street Interactive grew third-quarter revenue by 39% to $385.9m and almost doubled net income, the US-listed online casino and sports betting operator said on 28 October, as it reiterated its full-year guidance.

Net income rose 93% to $28.7m from $14.8m in the same quarter of 2025, while adjusted EBITDA increased 73% to $62.2m from $36.0m, according to the company’s results release filed with the SEC. Adjusted sales and marketing spend came to $54.7m, or 14.2% of revenue.

The figures show profit growing much faster than revenue. Adjusted EBITDA margin widened to around 16% of revenue from roughly 13% a year earlier, and net income margin rose to about 7.4%, as RSI spread its marketing and platform costs over a much larger player base. Management pointed to that operating leverage in its commentary on the quarter.

Users up 42%

Monthly active users across the group rose 42% to 907,881. In North America, MAUs increased 34% to 300,572, a quarterly record for the region. Latin America, which includes Mexico and Colombia, grew faster, with MAUs up 46% to 607,308.

The two regions remain very different in value per player. Average revenue per monthly active user was $309 in North America and $58 in Latin America, reflecting the higher spend of US and Canadian online casino customers.

“Online casino remains the engine of our profitability,” chief executive Richard Schwartz said. On Latin America, he said revenue growth “continues to be strong on both a gross and net basis.” The company said customers who joined during the football World Cup in the summer are continuing to play across its products.

Guidance held

RSI reiterated its 2026 guidance for revenue of $1.56bn to $1.60bn, implying growth of 38% to 41%, and adjusted EBITDA of $245m to $265m, implying growth of 59% to 72%.

The outlook includes only jurisdictions live at the time of the release and assumes current tax structures continue. That includes Colombia’s temporary emergency 16% tax decree, which the company has absorbed into its forecasts rather than assuming relief.

RSI did not break out revenue between online casino and sports betting in the release. The company operates under the BetRivers brand in most US states and in Ontario and Alberta, and under RushBet in Colombia and Mexico.

Alberta and the wider US picture

The company also pointed to Alberta, where it launched more than three months before the results and where management expects a gradual ramp. The Canadian province’s newly regulated market reported C$56.6m in igaming revenue for September in its first official report.

RSI’s growth stands out against a slowing US online casino market. Data covered by ayo.news this week showed US igaming growth slowing to a record-low 12% in the third quarter, as the established states mature.

Brazil, which weighed on several larger operators’ results this quarter, does not feature in RSI’s release, although CDC Gaming reported that the country’s betting turmoil led discussion of the numbers.

What comes next

With online casino the main profit driver, RSI’s growth outlook in the US depends heavily on whether more states legalise igaming, while in Latin America it is exposed to tax changes in markets such as Colombia. For now, a near-40% top-line increase and a sharp rise in profitability put the operator among the faster-growing listed names in the sector.

Veikkaus, Finland’s state-owned gambling company, will launch a new consumer brand called Viabet in both Finland and Denmark on 1 July 2027, marking its first direct-to-consumer venture outside its home market.

The brand is being built in partnership with streaming and sports broadcaster Viaplay Group. Viabet will be developed, owned and operated by Veikkaus, which will run it through its international arm, while Viaplay will supply selected media content, according to reports by Finnish public broadcaster Yle and the trade press.

“Viabet is a significant strategic step for Veikkaus,” president and chief executive Olli Sarekoski said, as reported by Yle.

Timed to the end of the monopoly

The launch date is no coincidence. On 1 July 2027 Finland opens its online gambling market to licensed competitors, ending the exclusive position Veikkaus has held for decades. The company will keep its own Veikkaus-branded products, but Viabet gives it a second, media-led brand to compete with international operators arriving in the market.

Those rivals are already lining up. Wildz Group said earlier this month that it was the first company to win a Finnish online gambling licence, and ComeOn and SuomiVeto have since joined the first group of licensed operators. Supplier deals are also being signed, with sportsbook providers announcing partnerships timed for the July 2027 opening.

The Finnish reform splits the old monopoly in two. Online casino and betting will be open to licensed private operators, while Veikkaus keeps exclusive rights over lotteries and land-based slot machines. Licensed operators will pay a gaming tax on their Finnish revenue and face marketing rules overseen by the new licensing authority, so Viabet will compete on the same terms as the international brands.

Until now, Veikkaus’s activity outside Finland has been concentrated in its B2B subsidiary Fennica Gaming. Viabet is the first time it will face customers directly in another regulated market.

Why Denmark

Denmark is a natural first target. Viaplay has a large sports audience there and holds key football rights: in April it said it had extended its men’s Champions League rights in Denmark for four years from autumn 2027 to 2031. A betting brand that can sit alongside that content gives Veikkaus a route to customers without building awareness from scratch.

The Danish market, regulated by Spillemyndigheden, is also mature and competitive, with a long list of licensed international operators. Neither company has said whether Veikkaus has applied for a Danish licence, which it will need before Viabet can take bets there.

Advertising rules in flux

The timing brings a regulatory complication. The Danish government has tabled a bill that would introduce a whistle-to-whistle gambling advertising ban and new curbs on affiliates. The proposed restrictions are due to apply from 1 July 2027, subject to parliamentary approval, the same day Viabet is meant to go live.

A tighter advertising regime around live sport could limit how far a broadcaster-linked brand can use match coverage to promote betting, which is a large part of the logic of a media partnership. How the final Danish rules treat sponsorship and in-programme promotion will matter for Viabet’s launch plans.

A hedge abroad

For Veikkaus, which is losing its online monopoly at home, finding revenue in a neighbouring regulated market is a hedge against the market share it is likely to cede to new Finnish licensees.

The deal will also be watched by other broadcasters weighing whether to move from selling betting advertising to holding a stake in a betting brand. Further details on Viabet’s product range and supplier line-up are expected closer to launch.

The Netherlands’ licensed gambling market shrank to €4.1bn in gross gaming revenue in 2025, down from €4.5bn a year earlier, as online casino and sports betting revenue fell sharply, according to the Kansspelautoriteit’s annual market scan published on 29 October.

The regulator said plainly that the licensed Dutch market contracted in 2025 and that the decline was driven mainly by the online segment. Its market scan was released alongside a half-yearly monitoring report on online gambling covering the first six months of 2026.

Online leads the fall

Online casino gross gaming revenue fell 18.2% year on year, while online sports betting dropped 30.2%, according to the Ksa figures. Land-based gaming machines in arcades and hospitality venues slipped 4.7% and lotteries were down 1.8%.

The only major segment to grow was Holland Casino, the state-owned land-based operator, which posted a 2.8% increase. The regulator said that growth came from slot machines rather than table games.

The figures add to a run of difficult data for licensed operators in the Netherlands, who have faced higher gaming tax and a steady tightening of duty-of-care and advertising rules since the market opened in October 2021. Industry groups have repeatedly warned that the combination is pushing players towards unlicensed sites.

Channelisation edges up

The Ksa’s monitoring report offers a slightly more positive picture for the first half of 2026. The regulator estimates that channelisation measured by gross gaming revenue rose from 54% in the second half of 2025 to 59% in the first half of 2026. By player numbers the picture is stronger: around 94% of people who gamble do so only with licensed providers, it said.

The gap between those two measures reflects the Ksa’s finding that players who use illegal sites appear to lose considerably more on average than those who stay with licensed operators. The regulator did not publish an estimate of the size of the illegal market.

The number of online gambling accounts with licensed operators rose to 1.48 million at the end of the first half of 2026, from 1.38 million six months earlier. The Ksa estimates that around 490,000 people gamble online each month, and that about 820,000 placed at least one online bet or wager during the half year.

Harm indicators mixed

On player protection, the report cites addiction treatment data showing that the number of people in treatment for gambling problems rose by more than 14% in 2025 compared with 2024. Separate Ipsos research commissioned for the monitor found that 65% of online gamblers play without problems, unchanged from 2025. The high-risk group was stable, the low-risk group grew and the moderate-risk group shrank.

Full figures are available in the Ksa’s overview of the Dutch gambling market, which links to the underlying market scan and monitoring reports.

Enforcement remains the priority

The data comes a week after the regulator hit EOD Code with a record €37m fine over twelve illegal casino sites, and as it continues to press licensed operators on specific practices, including when it confronted 711 over wagering conditions on deposits. The Ksa has said tackling the illegal market is its top priority five years after online gambling was legalised.

For licensed operators, a market that is smaller in revenue terms but slightly better channelised will sharpen the debate over whether the current tax and regulatory settings are sustainable, particularly with online sports betting revenue down by almost a third in a single year.