TheScore publishes 'record' second quarter results as mobile betting identified as 'future'

Digital media company Score Media and Gaming posted a "record second quarter", continuing the Toronto-based firm's "strong start" to its fiscal year.

Presenting Q2 2021 results, CEO of theScore John Levy noted that media revenues, in particular, increased by 17% compared to last year to $ 8 million, reached a record level.

"TheScore had a very active and productive second quarter of the fiscal year, including quarterly record results for our gaming and media operations," he said. “We also completed an Initial Public Offering (IPO) and Nasdaq listing in the US, which allows us to invest in further long-term growth.

“Returning and new advertisers were eager to get in front of our active client base throughout the quarter, in part due to the busy sports schedule. As a result, ad sales also hit record highs in the second quarter.”

Drawing attention to the expansion of the company's mobile betting app theScore Bet, he also highlighted that the platform's transactions reached a record $81.6 million, up 491% from last year.

Levy continued, “The growth and manageability demonstrates that our mobile sports betting business is growing as expected as we continue to expand our footprint and penetration in the US as well as existing states. Our growing US mobile sports betting business also positions us very positively as we prepare for the eventual legalization of singles sports betting in Canada.”

In New Jersey, mobile betting accounted for approximately 84% of all sports betting placed in 2019, and Levy stressed that mobile betting is “where the future is” in the US.

“Our second quarter operating performance highlights the real potential of theScore’s differentiated model of integrating media and games into a single end-user experience and demonstrates that the platform will only get stronger as we deepen our betting platforms,” added he. “It's important to note that it's clear that our long-term vision that mobile is the future is actually a reality.

He concluded, "Mobile devices are a key driver of bidding behavior and data from US states where mobile devices are reported, highlighting the fact that consumers prefer the convenience of being able to bid anywhere, anytime through a mobile app."

TheScore post releases 'record' second quarter results as mobile betting defined as 'the future' first appeared on GamblingTV.com.