The third quarter of 2021 brought positive results for sports betting and media business theScore.
In conversation with BNN Bloomberg John Levy theScore's Chairman and CEO, discussed the release of the latest financial results, showing media revenue increased by 5% over 2019 to $8.9 million in third-quarter revenue.
“From our point of view, it was a good quarter, both in terms of media and in terms of sports betting,” said Levy.
“Our media revenue for the quarter was $8.9 million, which I think is the highest we've seen in a quarter. We've had record interactions with our users since COVID in a situation where sports leagues and league times are still a bit volatile, but people visit our app 126 times a month, which is also a record.
“On our social platforms, we’ve had pretty good numbers for both Score and esports, and looking at our playability, we’ve made just over $73 million, and in March alone, with the return of March Madness, it was over $30 million.” .
In March, theScore completed its US Initial Public Offering and listed on the Nasdaq Global Select Market, generating $186.3 million in gross proceeds.
Meanwhile, theScore Bet's F2021 Q3 total staking revenue was $73.0 million, with the company generating the highest single-month staking of $30.8 million in March 2021.
“This is a very exciting time for us. There are many moving parts on many fronts. We already operate in four US states - New Jersey, Indiana, Colorado and Iowa - so from our perspective, continued growth in those states is part of the plan. We also plan to double the number over the next 12 months in these four states.”
Looking to the future, Levy confirmed that theScore does not want to "rely on third parties" and detailed how the company is trying to address this issue.
He added: “During this quarter, we rolled out our own player account management system and promotion engine, which gives us the flexibility we didn’t have before, the ability to work with our clients and make this personalized sports betting offer. and just as we did with our sports media business.
“It's going to be a competitive environment, and when you add to that the fact that we're going to integrate and shift full in-house risk and trading, we're in a position where we own this soup thing. to nuts. "
TheScore of John Levy's Q3 Media Earnings first appeared on GamblingTV.com.