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theScore Reports Record F2021 Q2 Financial Results

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Score Media and Gaming Inc. announced financial results for the three and six months ended February 28, 2021.

“We achieved record gaming handle and another quarter of solid media revenue growth in our fiscal 2021 second quarter. The strong second quarter results highlight theScore’s ongoing momentum and our users’ active, growing engagement with our mobile offerings,” said John Levy, Chairman and CEO of theScore. “Second quarter handle of $81.6 million on theScore Bet grew 491% year-over-year and 46% over the first quarter. We also recorded our highest-ever second quarter media revenue, with 17% year-over-year growth driven by our compelling content as well as our outstanding North American reach and audience engagement.

“Following the launch of theScore Bet in Iowa in mid-February, our mobile sports betting platform is now live in four states as our market rollout continues on schedule. We’re successfully building our user base and leveraging our media audience, while simultaneously welcoming new users to our platform as demonstrated by the year-over-year and quarterly sequential increases in gaming handle this quarter, including a nearly 200% increase in our New Jersey handle compared to the year-ago period. Through our recent agreement with Caesars Entertainment we now have sports betting market access in Illinois, the sixth most populous U.S. state.

“During the second quarter, we raised US$186.3 million of gross proceeds through our U.S. initial public offering which we intend to deploy towards the ongoing build out of our industry-unique integrated sports betting and media technology platform. The new capital provides additional resources to further execute on our strategies to integrate sports betting and content to drive deep user engagement and expand our market access. We will continue to enhance our media and betting ecosystem through investments in technology to further develop user personalization, unique betting offerings, and in-game prop bets, which are expected to be a significant driver of U.S. sports betting growth. At the same time, we are working to expand our access into new U.S. states while continuing our preparations for the anticipated legalization of single-game sports wagering in Canada.

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“We are very encouraged by the recent momentum in support of Bill C-218, which would legalize single-game sports betting in Canada. Our popular brand and dominant Canadian market position will enable theScore to participate as a market leader in what is expected to be a very large addressable market, including in our home province of Ontario.

“Our unique combination of media and betting is a powerful differentiator in a growing marketplace. We intend to leverage our position as the only digital sports media company in North America that operates a sports betting platform to further grow our U.S. business and capture meaningful market share in Canada when the market opens. With our fully integrated sports media and betting experience and technology focus, we are perfectly positioned to efficiently acquire and engage new customers while driving strong customer loyalty and attractive margins which will help drive the long-term enhancement of shareholder value.”

Recent Highlights

Total Q2 F2021 gaming handle [1] on theScore Bet grew 491% year-over-year, reaching a record $81.6 million in the quarter.
Handle was up 46% compared to Q1 F2021.
Q2 New Jersey gaming handle grew 195% year-over-year.
Media revenue increased 17% year-over-year to $8 million, a second-quarter record.
In March, theScore completed a U.S. initial public offering and listed on the Nasdaq Global Select Market.
6.9 million Class A Shares were sold by the Company at US$27.00 per share, resulting in gross proceeds of US$186.3 million.
Prior to the U.S. public listing, the Company consolidated its outstanding Class A Shares on the basis of one new Class A Share for every ten outstanding Class A Shares; it also consolidated its special voting shares at the same ratio.
theScore Bet launched in Iowa in February, bringing the Company’s base of live U.S. sports betting states to four.
In March, the Company entered into an Illinois market access agreement with Caesars Entertainment for mobile sports betting.
In March, theScore Bet became an official betting operator of the PGA TOUR. The content and marketing relationship also makes theScore Bet the TOUR’s first official betting operator in Canada, pending the enactment of enabling legislation and regulation and receipt of all necessary regulatory approvals.
In December, the Company’s esports platforms served as the exclusive English language broadcast partner for the League of Legends’ Demacia Championship in China.
Audience Metrics

theScore achieved a Q2 record for engagement on its sports media app. User sessions rose 8% year-over-year in Q2 F2021 to 488 million with users opening the app an average of 125 times a month each. The Company had 3.9 million average monthly active users on theScore app.
theScore’s esports platforms registered 186.5 million total video views in Q2 F2021. An additional 99,600 YouTube subscribers were added during the period with total channel subscribers now exceeding 1.67 million.
​During Q2, theScore’s sports content across Twitter, Facebook, Instagram and TikTok achieved an average monthly reach of approximately 88 million. theScore’s TikTok account added approximately 456,000 new followers in Q2 F2021, with followers now exceeding 3.1 million.
Financial Results

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Total revenue for Q2 F2021 was $5.6 million, with record Q2 media revenue partially offset by negative net gaming revenue [3] of $2.4 million. Media revenue in the quarter was $8 million, compared to $6.8 million for the same period last year, representing a 17% year-over-year increase.

Gaming handle [1] was $81.6 million and gross gaming revenue [2] was $0.4 million in Q2 F2021. When taking into account promotional costs and fair value adjustments on unsettled bets, this resulted in negative net gaming revenue [3] of $2.4 million.

EBITDA loss in Q2 F2021 was $12.9 million compared to an EBITDA loss of $8.6 million for the same period last year. This was primarily the result of additional expenses incurred in connection with the ongoing expansion of the Company’s gaming operations and costs and professional service fees related to the recently completed U.S. initial public offering.

Financial Statements and Management’s Discussion and Analysis

The Company reports its financial results in Canadian dollars, unless otherwise indicated. Our unaudited condensed consolidated interim financial statements, accompanying notes, and Management’s Discussion & Analysis for the three and six months ended February 28, 2021 are prepared in accordance with International Financial Reporting Standards (“IFRS”) and are available on the Company’s Investor Relations page.

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ROGA Launches National College Education Campaign

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The Responsible Online Gaming Association (ROGA) has launched the “Know Your Play” campaign in partnership with EPIC Global Solutions, Kindbridge Behavioral Health, and the Responsible Gambling Council (RGC). This is a major initiative designed to provide college-aged students with detailed content focused on responsible gaming, mental health and well-being, and financial literacy.

“College students are learning to navigate newfound financial independence and equipping this age group with resources to make informed decisions that can build good financial habits will serve them throughout their lives, whether they engage in gaming or not. While previous programs have focused on student-athletes, our campaign intends to educate the broader student population about responsible gaming concepts that can help this age group set realistic expectations and see gaming as a form of entertainment, not as a way of making money,” ROGA Executive Director Dr. Jennifer Shatley said.

The campaign utilizes digital learning tools, resources, and videos available to all college-aged students at knowyourplay.org, even if they are not enrolled in a university. These resources will educate students on key responsible gaming concepts, including randomness, impulsiveness, and limit setting, while addressing myths like the illusion of control in sports betting. It will also focus on the role stress and mental health play in overall student wellbeing and provide practical tips for management. Additionally, extended resources will be piloted with select universities.

“EPIC has vast expertise and experience in creating programs that resonate with college-aged audiences and are delighted to partner with ROGA on a campaign that will provide critical education to college students across the country. By combining expert knowledge with personal stories, our program aims to foster a well-rounded understanding of financial literacy, decision-making, and risk-taking,” Teresa Fiore, SVP of Partnerships at EPIC Global Solutions, said.

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The campaign will begin rolling out at college campuses over the next several weeks with in-person learning sessions and workshops in tandem with digital delivery tools for greater accessibility and reach, ensuring that the program effectively engages students across diverse campuses and demographics.

“College life presents unique pressures, from financial independence to academic performance, all of which can impact mental health. By fostering decision-making skills that bridge these areas, we’re helping students build resilience, manage stress, and develop healthy habits that will serve them well beyond their college years,” Kindbridge Group CEO Daniel Umfleet, said.

“College students face an increased risk of harm from gambling, making prevention education essential in protecting this important audience. RGC has a long history of creating prevention programs for young adults, and we are proud to partner with ROGA on this crucial initiative. This campaign will equip students with the knowledge and skills needed to make informed decisions should they choose to gamble. By providing valuable information, digital tools, and resources, we are empowering young adults to approach gambling with a lower-risk mindset and reduce potential harm,” RGC CEO Sarah McCarthy said.

The post ROGA Launches National College Education Campaign appeared first on Gaming and Gambling Industry in the Americas.

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Canada

Siyata Mobile Announces New Order from Leading Canadian Gaming and Entertainment Company

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Siyata Mobile Inc, a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announced a new order for SD7 handsets and related accessories for a new customer, a leading gaming and entertainment company located in Canada.

This order marks one of Siyata’s first entries into the gaming and casino industry, a sector with significant growth potential for the Company. The customer operates dozens of gaming, entertainment, and hospitality venues across Canada and will deploy the SD7 handsets for Push-to-Talk (PTT) communications among its security and maintenance teams.

“This new order is an exciting milestone for Siyata as we expand further into the gaming and casino market. There is a growing industry trend toward modern, cellular-based communication solutions. Casinos require reliable, cost-effective, and easy-to-use communication tools with exceptional audio clarity, and our SD7 handsets and accessories are an ideal fit for those demands. This casino is replacing traditional Land Mobile Radio (LMR) two-way radios with advanced PoC technology for its security and maintenance personnel. The SD7’s robust capabilities, including instant push-to-talk functionality and superior coverage, make it an attractive choice for businesses prioritizing security and operational efficiency,” Marc Seelenfreund, CEO of Siyata Mobile, said.

The post Siyata Mobile Announces New Order from Leading Canadian Gaming and Entertainment Company appeared first on Gaming and Gambling Industry in the Americas.

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CasinoCanada Started a New Partnership With Ocean Spin by LaLa Stars

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CasinoCanada, the number one gambling guide for players in Canada, is thrilled to announce its new partnership with Ocean Spin a brand under the umbrella of LaLa Stars.

This collaboration marks an exciting step in CasinoCanada’s mission to provide its audience with the most comprehensive and up-to-date information on top gaming experiences.

The partnership agreement will grant LaLa Stars premium visibility across high-traffic sections of CasinoCanada’s website, which has been a trusted source for Canadian players for over 20 years.

LaLa Stars presents itself as an affiliate program that generates double-digit profits by making it easy and enjoyable to promote the brands. The program features a memorable design, a player-centric retention system, top-tier payment options, and game providers. Fast payments, flexible commission models, high-converting brands, powerful reporting, no middlemen, and outstanding conversion make LaLa Stars a popular choice. Additional company benefits are: a revenue share of up to 60%, a CPA of up to €500, hybrid CPA.

Ocean Spin Casino, a brand of LaLa Stars company, despite being quite new on the iGaming market, is a huge online gambling platform where all casino newcomers are greeted with a welcome bonus of 100% for up to €500, and 200 free spins plus one Bonus Crab. It comes as a first deposit bonus for a minimum deposit amount of €20. Sports-betting enthusiasts can also claim a welcome bonus of 100% for up to €100.

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Ocean Spin Casino’s games include: gaming machines, roulette blackjack, betting, video poker, bingo, baccarat, jackpot games, and live games.

“We are excited to meet our new partner Ocean Spin Casino, and hope to bring maximum use and value to our community,” said Aleksandra Drigo, Sales Director at CasinoCanada. “This partnership perfectly reflects our dedication to highlighting the best in the gaming industry while offering our audience valuable insights and chances to experience top-notch gaming. We hope for a productive and long-term partnership!”

The partnership is now live, featuring LaLa Stars reviews and exclusive offers on the CasinoCanada website. This collaboration is set to deliver even more thrilling updates, exclusive content, and personalized promotions for the Canadian gambling community.

The post CasinoCanada Started a New Partnership With Ocean Spin by LaLa Stars appeared first on Gaming and Gambling Industry in the Americas.

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