EXCLUSIVE: Rush Street Interactive CEO Talks Online Gaming Company's Finances, Tech-Driven Strategy

Rush Street Interactive Inc RSI is approaching the one-year mark as a public company after making its debut on the New York Stock Exchange at the end of 2020 via merger with special purpose acquisition company dMY Technology Group Inc.

"The story we have is really compelling since we went public last December. We've had a beat and raise every quarter," Rush Street Interactive co-founder and CEO Richard Schwartz said Monday on "Benzinga Live."

Rush Street Interactive most recently announced quarterly financial results in November. The company reported an earnings loss of 9 cents per share, which beat the estimate for a loss of 13 cents per share. Rush Street Interactive reported revenue of $122.92 million, which beat the estimate of $114.64 million.

The company also raised full-year 2021 guidance from a range of $465 million to $495 million to a range of $480 million to $500 million.

The consistency in growth that the company has displayed so far has generated a lot of excitement, according to Schwartz.

Rush Street Interactive is able to facilitate growth by focusing on retaining its customers. The company is able to keep customer retention high by using its technology, Schwartz said.

"How we do that is through our tech," he said. "We own it in house, we have our own engineering organization and we're nimble, we're innovative."

Rush Street Interactive's full suite of solutions that create unique experiences are all built in house, Schwartz said. This model creates opportunities for the company that it wouldn't otherwise have.

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Interviewing alongside Schwartz, dMY Technology Group CEO Niccolo De Masi said he was attracted to the business because of its operating model and the company's ability to swiftly enter new markets. 

"They're effectively operating the company much like a social casino, free-to-play gaming business, but they're doing it in a regulative space and they're getting into markets faster than anybody and frankly, everybody," De Masi said.

Rush Street Interactive is a online gaming and entertainment company that focuses primarily on online casino and online sports betting in the U.S. and Latin American markets.

Schwartz and De Masi went on to talk about legalization efforts, M&A opportunities and more.

See the full interview here:

RSI Price Action: Rush Street Interactive has traded as high as $26.55 and as low as $9.47 since its public debut.

The stock was down 0.63% at $15.90 Monday afternoon.