Rush Street Interactive plans to spend an additional US$7 million to US$10 million on marketing in the third quarter. The investment includes the launch of BetRivers in Alberta and will put near-term profit margins under pressure as the company builds its position in the province.

The Chicago-based operator launched regulated online casino and sports betting in Alberta on July 13, 2026. The move gives Rush Street access to Canada’s second regulated private iGaming market after Ontario, according to the company’s announcement.

Early Alberta indicators exceed Ontario launch levels

Rush Street executives told analysts that BetRivers’ first-time depositors and daily active users in Alberta were tracking at about twice the population-adjusted levels recorded during the company’s Ontario launch in 2022, Canadian Gaming Business reported.

The comparison is preliminary. It does not establish Alberta market share, long-term customer retention or profitability.

Rush Street has not released Alberta-specific revenue or earnings. The Alberta iGaming Corporation is expected to publish its first market revenue report after the province’s first quarter of business, according to Canadian Gaming Business.

Until that report is available, investors must assess Alberta’s performance through user and deposit indicators rather than verified provincial revenue.

Marketing costs rise after a record quarter

Rush Street reported US$393.8 million in second-quarter revenue, up 46% from a year earlier. Net income reached US$29.3 million. Adjusted earnings before interest, taxes, depreciation and amortization rose 61% to US$64.6 million, according to a company filing with the U.S. Securities and Exchange Commission.

  • Second-quarter revenue: US$393.8 million
  • Second-quarter net income: US$29.3 million
  • Adjusted earnings before interest, taxes, depreciation and amortization: US$64.6 million
  • Adjusted sales and marketing expense: US$48.6 million

Online casino generated 72% of quarterly revenue. That mix is important to Rush Street’s expansion strategy. The company uses sports betting to attract customers and promote casino products.

Adjusted sales and marketing expense represented 12.3% of revenue in the second quarter. Chief Financial Officer Kyle Sauers said third-quarter marketing costs would increase by about US$7 million to US$10 million from the second quarter, including Alberta-related spending.

Against the second-quarter marketing base, the additional investment would equal roughly 14% to 21% more spending, assuming the company uses the same expense measure.

Investors weigh growth against margin pressure

Management expects third-quarter revenue and adjusted earnings to be roughly flat with the second quarter, partly because of the higher marketing spend. It expects stronger sequential growth in the fourth quarter.

Rush Street also raised its 2026 guidance after reporting its second-quarter results.

  • Full-year revenue: US$1.56 billion to US$1.60 billion
  • Full-year adjusted earnings before interest, taxes, depreciation and amortization: US$245 million to US$265 million

The guidance includes Alberta operations. Jefferies analyst David Katz maintained a Buy rating on August 19 and kept a US$39 price target, Casino.org reported. Katz said the company’s long-term growth outlook remained intact despite Alberta-related costs and tougher comparisons after the 2026 FIFA World Cup.

The central question is whether early Alberta demand will become recurring casino revenue. The market’s first official revenue report should provide a clearer test of customer acquisition costs and profitability.

Alberta adds compliance requirements

Alberta separates market oversight from commercial management. Alberta Gaming, Liquor and Cannabis regulates the industry. The Alberta iGaming Corporation manages commercial agreements, financial reporting and related market operations.

Operators must meet several requirements:

  • Registration with Alberta Gaming, Liquor and Cannabis
  • A commercial agreement with the Alberta iGaming Corporation
  • A minimum online gambling age of 18
  • Spending and time-limit tools
  • Systems to identify high-risk behaviour
  • Integration with centralized self-exclusion tools

These obligations add operating costs and define how Rush Street competes in the province. Alberta’s first market report will indicate whether the company’s marketing investment is producing growth that can withstand competition, regulation and player-protection requirements.