Digital media company, Score Media and Gaming, enjoyed a ‘record-setting second quarter’ continuing the Toronto-based firm’s ‘strong start’ to the fiscal year.
Presenting its Q2 results for 2021, theScore CEO, John Levy, noted that the media revenue in particular – which was up 17% year-over-year to $8 million dollars – experienced a record quarter.
“TheScore had a very active and productive fiscal second quarter, including quarterly record results across our gaming and media operations,” he stated. “We also executed our Initial Public Offering (IPO) and listing on Nasdaq in the US, which positions us to invest in further, long-term growth.
“Returning and new advertisers were eager to get in front of our highly-engaged customer base throughout the quarter – in part due to the strong sports schedule. As a result, advertising sales also reached an all-time second quarter record.”
Highlighting the expansion of the firm’s mobile betting application, theScore Bet, he further emphasised that handle on the platform reached a record $81.6 million, making a ‘substantial rise’ of 491% year-over-year.
Levy continued: “The growth and handle demonstrates that our mobile sports betting business is growing as expected, as we continue to expand our footprint and penetration in the US, and further build in existing states. Our growing mobile sports betting business in the US also positions us very positively as we prepare for the potential legalisation of single-game sports wagering in Canada.”
In New Jersey, mobile wagering accounted for approximately 84% of all sportsbook bets placed in 2019, and Levy emphasised that mobile betting is ‘where the future lies’ in the US.
“Our second quarter operating metric highlights the real potential of theScore’s differentiated model, combining media and gaming into a single end-user experience, and demonstrates that the platform will only get stronger as we deepen our betting content platforms,” he added. “Importantly, it’s evident that our long-term view that mobile is where the future lies is, in fact, a reality.
He concluded: “Mobile is the key driver of betting behaviour and data from the US states where mobile handle is reported, underscoring the fact that consumers prefer the convenience of being able to bet anywhere and at any time via a mobile app.”
