Score Media and Gaming Inc. or also known as theScore in the gaming world has most recently published its results for the three and nine months ended on May 31, 2021. During the time, the company has reached several milestones including record third-quarter media revenue, and in March the company completed a U.S. initial public offering and was listed on the Nasdaq Global Select Market.
theScore is a multi-million digital media and sports betting company that provides its services to millions of sports fans. The corporation’s theScore app is considered as the most popular in North America for keeping tabs on sporting events, stats, and personalized offerings on everyone’s favorite sports teams. People can also wager on its exceptional theScore Bet app offerings engaging and premium sports betting opportunities in multiple U.S. states.
F2021 Q3
John Levy, Chairman and CEO of the sports betting company stated that the firm has enjoyed continued momentum in its business activities for the fiscal 2021 third quarter. The company has managed to accumulate a record media revenue for the third quarter of US$8.9 million, as it was up by 270% in comparison for the same period last year and 5% more than what it was in 2019.
The sports betting app of the company has accumulated CA$30.8 million in wagers for the month of March, this is the biggest handle generated for a month by the company up to date. The app generated a total of CA$73 million in gaming handle for the whole Q3, and for the same period of time, gross gaming revenue was negative CA$40,000.
According to Mr. Levy, Another significant milestone for the company was last month’s passage of Bill C-218 in Canada, which will amend the Criminal Code and allow companies to offer single-game betting on sports events with the exception of horse racing. Thanks to the company’s enormous Canadian user base, and its already established connections in the market, the bill would allow opportunities for growth in Canada.
The CEO also predicted that next month will also be a major one for the company as it will release its proprietary and internally-developed PAM and promotion engine. They have already been approved by Gaming Laboratories International and applicable state gaming labs. The new systems will provide additional user personalization, cross-platform integration, and platform automation.
Q2 Results
Previously, the company published its financial stats for the second quarter of the 2021 fiscal year. During this, the corporation has managed to accumulate a 491% improvement of revenue growth in comparison to last year’s. Also, the company reported CA$186.3 million in gross proceeds through its US public offerings. Mr. Levy revealed that total revenue for Q2 has reached CA$5.6 million.
PGA Tour
Another significant milestone for the sports betting company has been recorded this year. The corporation was the official sponsor of the Professional Golfers’ Association Tour. The tournament took place this April, and started from Valero Texas Open on April 1 to April 4 at the TPC San Antonio – AT&T Oaks Course and included US$7,700,000 in total prizes for participants.
Source: “theScore Reports F2021 Q3 Financial Results”, BusinessWire, July 13, 2021
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