Score Media and Gaming’s recent accomplishments have been acknowledged by the Nasdaq after years of fruitful partnerships and modernizations to the gaming industry. Last week saw the Toronto-based company debut on the Nasdaq list of companies’ stock indexes. The list’s aim is to monitor recent increases and decreases of a corporation’s stock rates and its value.
The Canadian company was founded way back in 1994, and it was initially named ScoreScope, and back in the day, its number one priority was to provide sporting results on television in seven provinces across the country. And Reaching the Nasdaq list is a great indicator of how much the establishment has developed ever since then.
Coming a Long Way
The Toronto-based company’s most renowned product is certainly its popular theScore app. The application was introduced back in 2007 and saw the entity’s first steps into the mobile industry. TheScore was available on both Android and iOS devices and provided sporting fans with real-time footage of major sporting events, live scores, news, and a variety of statistics.
Its growth in the Nasdaq list has occurred rather quickly since the company’s closed out the 2020 trading at CA$1.50. But after recent fortunate events in Canada and the United States, plus a 10-1 reverse split- the corporation now debuted on the list with the impressive CA$31. The business establishment was purchased by its rival, Rogers Communications Inc. in 2012, but CEO of ScoreScope John Levy retained all rights to digital assets in the subsidiary Score Media.
The owner of theScore also started the Score Bet with the help of Darby Development LLC. This was the first-ever online sportsbook in the USA, which first debuted in New Jersey, Colorado, and Indiana. Then the company has reached an agreement with Penn National Gaming to acquire the gaming rights for another 11 states in the country.
Due to its rich portfolio of sports gambling experience, the recent news about Canada being on the verge of introducing single-game wagering, the company has been indicated as a favorite to overtake potential markets. Once the bill is passed by the last legal instance the company will be able to introduce its applications to the Canadian residents who are eager to see the proposed change come to life.
Immediate Launch
The Canadian company’s success in the USA does not stop it from exploring new potential markets. Ever since the discussions of legalizing single-game wagering in Canada, the gaming leader has closely monitored the situation and is awaiting the green light when it will be able to launch its app theScore to the country’s public. This will provide locals with brand-new betting offerings and a much greater variety in terms of diverse sporting wagers.
More Support for Bill C-218
Bill C-218 has received approval from the House of Commons after its second hearing, the bill aims towards the legalization of single-events betting opportunities in Canada. This is a long-demanded change in gaming rules that many regulators and gambling fans have applauded for. Bragg Gaming, along with the US-based DraftKings eyeing potential market possibilities if the change is implemented.
Source: Schaffer, Melanie “Score Media And Gaming, Home Of theScore App, Debuts On Nasdaq: What You Need To Know”, Yahoo! Finance, February 25, 2021
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