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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense are:

			Years Ended December 31,
($ in thousands)			2023						2022						2021
Current income taxes:
Federal			$	(188)					$	(118)					$	149
State and local			9						(34)						25
Foreign			11,602						9,137						4,551
			11,423						8,985						4,725
Deferred income taxes:
Federal			—						—						—
State and local			—						—						—
Foreign			(214)						(24)						(37)
			(214)						(24)						(37)
Income tax expense			$	11,209					$	8,961					$	4,688

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of income tax expense computed at the U.S. federal statutory income tax rate to the recognized income tax expense and the U.S. statutory income tax rate to our effective tax rates are as follows:

			Years Ended December 31,
($ in thousands)			2023						2022						2021
Net loss before income taxes			$	(48,846)					$	(125,371)					$	(66,404)
Less: net loss before income taxes attributable to non-controlling interest			(33,820)						(89,224)						(48,258)
Net loss attributable to Rush Street Interactive Inc. before income taxes			(15,026)						(36,147)						(18,146)
Income tax benefit at the federal statutory rate			(3,155)						(7,591)						(3,811)
State income taxes, net of federal benefit			(46)						(34)						25
Nondeductible stock compensation			1,351						—						—
Foreign operations			11,387						9,113						4,514
Change in valuation allowance			2,589						8,025						4,027
Other			(917)						(552)						(67)
Income tax expense			$	11,209					$	8,961					$	4,688

Schedule of Deferred Tax Assets and Liabilities

Significant components of the deferred tax assets and liabilities are as follows:

			Years Ended December 31,
($ in thousands)			2023						2022
Deferred tax assets:
Investment in subsidiaries			$	134,283					$	134,586
Net operating losses			29,724						26,394
Imputed interest			2,120						1,638
Share-based compensation			1,160						366
Other assets			422						165
Total gross deferred tax assets			167,709						163,149
Valuation allowance			(167,305)						(163,029)
Total deferred tax assets, net of valuation allowance			404						120
Deferred tax liabilities:
Investment in subsidiaries			—						—
Total gross deferred tax liabilities			—						—
Net deferred tax assets			$	404					$	120

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-SubTopic 10
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