- Penn National Gaming plans to be live in at least 10 states by 2022.
- Rush Street Interactive experienced a year-over-year increase of 89% in Q2 2021.
- Genius Sports Limited saw a Q1 2021 year-over-year revenue growth of 52%
LAS VEGAS – For gambling businesses in the United States, 2021 has been an exceptionally profitable year.
In fact, a few heavy hitters have been particularly successful in the first and second quarters of 2021. This trend is expected to continue as regulated markets for gambling in the US reach more and more states.
Penn National Gaming (NASDAQ: PENN)
In a report from Wall Street Reporter, Jay Snowden, the CEO of Penn National Gaming shared some insight on his company’s recent performance.
“We also saw impressive revenue growth and near breakeven EBITDA results across our Penn Interactive segment. We’re preparing to launch the Barstool Sportsbook app in four or five more states by the start of the NFL season next month. And by the end of this calendar year, we expect to be live in at least 10 states, while also introducing several new features to the app, such as same-game parlay and shareable bet slip, which we’re really excited about,” said Snowden.
After these changes are put into place, 2021 could turn out to be Penn National Gaming’s most financially successful year yet.
Rush Street Interactive (NYSE: RSI)
Another company that has been doing well in 2021 is Rush Street Interactive.
According to Richard Schwartz, CEO of RSI, the company saw a year-over-year increase of 89% in Q2 2021.
“Revenue was 122.8 million during the quarter, representing a year-over-year increase of 89%. Just as impressive as our overall revenue growth was about in that growth. Not only do we grow casino revenue sequentially during the period, but also sportsbook revenues despite lighter sports calendars. With this continued success and growth in our business, we are once again raising our guidance. We now expect our 2021 full-year guidance to be between 455 million and 495 million implying 72% year-over-year top-line growth at the midpoint.”
In spite of Rush Street Interactive’s stellar performance so far, they do not seem to be resting on their laurels. If they continue this trend, the company will see even more growth over the next few years.
Genius Sports Limited (NYSE: GENI)
The youngest company on the list is up-and-comer Genius Sports Limited, which saw a very successful Q1 in 2021 and plans to see that growth continue.
“In the first quarter of ‘21 year-over-year, we grew our revenues by 52% to nearly $54 million, and our adjusted EBITDA by over 400% to $9.3 billion,” said Mark Locke, CEO of Genius Sports, in a report.
“Given the strong performance of the underlying business, and following the aforementioned key transactions, we are revising our full-year 2021 revenue guidance to a range of $250 million to $260 million, up roughly 30% to 35% from where we guided the market to previously”
With growth expectations like that, this is one company online gambling fans should definitely consider keeping an eye on.