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Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR) reported significant financial performance for Q2 F2021, achieving a record gaming handle of $81.6 million, a 491% increase year-over-year. Media revenue reached $8 million, marking a 17% growth. The company raised US$186.3 million from its IPO, aimed at enhancing its integrated sports betting and media technology. However, the company faced a net gaming revenue loss of $2.4 million and an EBITDA loss of $12.9 million due to expansion costs. Looking forward, theScore plans to capitalize on sports betting legalization in Canada.
Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR) will release its Q2 F2021 financial results on April 13, 2021, at 5:00pm ET. Following this, a conference call will be held at 5:30pm ET for management to discuss the results, accompanied by a Q&A session with analysts. The Company is known for its popular media app, ‘theScore’, and its sports betting app, ‘theScore Bet’, available in several states. TheScore aims to provide immersive sports betting experiences and deliver personalized sports content.
The PGA TOUR has partnered with Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR), designating theScore Bet as an Official Betting Operator in the U.S. and Canada. This collaboration will allow theScore Bet to provide daily odds updates during PGA TOUR events and gain advertising rights with the TOUR. The arrangement aims to enhance user engagement through theScore's unique sports betting experience and media integration. The partnership follows the TOUR's commitment to responsible gaming and innovation in the sports betting landscape.
Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR) has secured market access for mobile sports betting in Illinois through an agreement with Harrah's Joliet Hotel & Casino. TheScore plans to launch its mobile sportsbook, theScore Bet, in the second half of 2021, pending necessary licenses from the Illinois Gaming Board. The 10-year agreement allows Caesars to receive a share of the revenue from theScore Bet's operations in Illinois. Currently, theScore Bet operates in New Jersey, Colorado, Indiana, and Iowa, providing a seamless multi-state betting experience.
Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR) has successfully closed its marketed public offering of 6,900,000 Class A Subordinate Voting Shares at a price of US$27.00 per share, generating gross proceeds of US$186.3 million. The offering, led by a syndicate of underwriters, marks the company’s initial public offering in the U.S. The net proceeds will primarily support working capital and expand theScore Bet operations across various jurisdictions. The press release emphasizes theScore’s focus on user acquisition and retention in the fast-growing sports betting market.