Press Releases
theScore Reports Record F2021 Q2 Financial Results

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.
“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
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 $8.6 million for the same period last year. This was primarily the result of additional expenses incurred in connection with the ongoing expansion of the Company’s gaming operations and costs and professional service fees related to the recently completed U.S. initial public offering.
Financial Statements and Management’s Discussion and Analysis
The Company reports its financial results in Canadian dollars, unless otherwise indicated. Our unaudited condensed consolidated interim financial statements, accompanying notes, and Management’s Discussion & Analysis for the three and six months ended February 28, 2021 are prepared in accordance with International Financial Reporting Standards (“IFRS”) and are available on the Company’s Investor Relations page.
Latin America
Mexico Gambling Market to Hit Valuation of US$ 40.64 Billion By 2033 | Astute Analytica

The Mexico gambling market was valued at US$ 11.37 billion in 2024 and is expected to reach US$ 40.64 billion by 2033, growing at a CAGR of 15.71% during the forecast period 2025–2033.
Mexico’s gambling market navigates a transformative legal landscape under the Federal Gaming and Raffles Law (LJRS), amended in 2021 and further refined in 2023 to address emerging challenges. As of 2024, the Dirección General de Juegos y Sorteos (DGOJ) mandates that operators maintain audited capital reserves of at least US$2 million and implement geoblocking tools to prevent cross-border betting—key measures tightening Mexico’s historically porous regulatory regime. State-level disparities complicate compliance: Jalisco imposes a 7% local tax on gross gaming revenue (GGR), while Quintana Roo exempts integrated resorts to boost tourism. The FATF’s 2023 audit highlighted AML weaknesses, prompting real-time transaction reporting for bets exceeding $2,500 via SEGOB’s centralized platform.
Despite progress, Mexico State and Guerrero remain hubs for illegal gambling dens in the Mexico gambling market, which SEGOB estimates siphon $450 million annually from licensed operators. Licensing delays (12–18 months) and hefty fines for noncompliance—up to $1.5 million for AML breaches—have consolidated market power among incumbents like Grupo Caliente and Codere. Looking ahead, federal rulings on cryptocurrency betting (pending Q4 2024) could redefine growth, as blockchain adoption accelerates among newer entrants like Betcris.
Key Findings in Mexico Gambling Market
Market Forecast (2033) | US$ 40.64 Billion |
CAGR | 15.71% |
By Type | Casino (44.86%) |
By Channel Type | Offline (53.97%) |
By Payment method | Credits and Debits Cards (39.36%) |
By End Users | Gambling Enthusiasts (65.10%) |
Top Drivers |
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Top Trends |
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Top Challenges |
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Land-Based Casinos: Adapting to Declining Demand and Tourism Shifts
Mexico’s 347 land-based casinos face structural challenges in the gambling market, with 2023 revenue dipping 5% year-over-year to $1.4 billion due to waning foot traffic and inflationary pressures. Urban centers like Mexico City and Monterrey—home to 45 and 32 casinos respectively—report an 8% decline in per-venue revenue, as labor costs surge by 12% and younger patrons migrate online. Luxury resorts buck the trend: Grupo Caliente’s Tijuana Hippodromo Casino saw VIP table game revenue climb 14% in 2023, driven by cross-border traffic from San Diego. Slot machines, still generating 78% of casino income, are evolving—Aristocrat’s “Skill-based Cash Claw” machines now feature mini-games targeting Gen Z.
Meanwhile, 14 small casinos in Baja California closed since 2022, unable to afford biometric entry systems priced at $120,000 annually per venue in the Mexico gambling market. Diversification strategies are emerging: 22% of ancillary revenue now comes from non-gaming events, such as sold-out concerts at CDMX’s Casino Palace. In coastal regions, hurricane-related closures in Quintana Roo (affecting 7 casinos in 2023) underscore climate risks, prompting operators to invest in $40 million insurance pools.
Online Gambling Boom: Mobile Adoption and Payment Innovations
Mexico’s online gambling market, projected to hit $1.4 billion in 2024, thrives on smartphone penetration (82%) and cheap 4G data plans ($8/month average). Players aged 18–34 dominate the market (71%), drawn to Bet365’s live-streamed Liga MX matches and Codere’s bonus-heavy app. Live dealer games surged 33% YoY, with Evolution Gaming reporting 500,000 monthly users for its Mexico-specific baccarat tables. Payment integration bridges financial gaps: OXXO’s Spin service processes 41% of deposits via cash vouchers, while Bitcoin adoption grows slowly (6% of transactions) despite regulatory ambiguity. However, cybersecurity remains a hurdle—DGOJ’s post-February 2024 DDoS attack now requires SSL encryption and two-hour breach disclosure windows. Regional nuances persist: northern states prefer sports betting (67% of online revenue), while central Mexico favors slots (58%). However, monopolistic practices loom—Spain’s Luckia controls 19% of the poker market through exclusivity deals with Mexican influencers like Andrés “Kraneo” Chaurand. With 5G networks expanding to 15 cities by Q3, latency issues during live bets (a 27% complaint rate) may soon ease.
Sports Betting Dominance: Soccer, Partnerships, and Integrity Risks
Sports betting fuels 39.51% of Mexico’s gambling market revenue, driven by soccer’s cultural ubiquity. Liga MX’s 2023 Apertura saw $2.1 billion wagered, spiking 18% during América vs. Chivas clashes. Strategic sponsorships deepen engagement: Sorare’s NFT fantasy league with Tigres UANL attracted 200,000 users in six months, while Betcris’ in-stadium kiosks at Estadio Azteca process $3 million per matchday. The 2026 World Cup looms large—DraftKings’ $52 million ad blitz targets Mexican expats in the U.S., leveraging dual-national stars like Julián Quiñones. Yet match-fixing persists: SEGOB’s Integrity Unit uncovered 12 third-division players manipulating yellow card stats for Costa Rican syndicates. Automation is mitigating risks—Sportradar’s AI flags irregular betting patterns in 92% of Liga MX matches—but oversight gaps linger in amateur leagues. Basketball and baseball are niche bright spots; the NBA’s Mexico City games drove a 27% YoY increase in prop bets, while the Sultanes de Monterrey’s partnership with FanDuel boosted baseball handle by $12 million in 2023.
Economic Contributions: Jobs, Tax Revenues, and Regional Disparities
Gambling sustains 148,000 direct jobs in Mexico gambling market, though wages lag—dealers earn $460/month on average, 23% below the living wage. Federally, the industry contributed $700 million in taxes in 2023, with casinos providing 58% via a 30% GGR levy. State-level disparities are stark: Nuevo León (24% of tax contributions) and Quintana Roo (21%) benefit from dense casino clusters, while Chiapas and Oaxaca account for <1%. Tourism multipliers are immense—Cancún’s casino visitors spend $290 daily versus $110 for others—but regional inequality widens: Mexico City captures 34% of revenue despite housing 13% of the population. IMCO estimates illegal operators drain $310 million in annual taxes, though SEGOB’s blockchain payment-tracker pilot (launched April 2024) slashed unlicensed revenue by 19% in three months. Unionization efforts are rising—30% of casino workers now belong to SUTTCLM, which negotiates healthcare benefits—but automation threatens roles: self-service betting terminals will replace 8,000 cashiers by 2026.
Tourism Integration: Casinos, Resorts, and Cross-Border Opportunities in Mexico Gambling Market
Integrated resorts drive Mexico’s $2.1 billion gambling-tourism nexus, blending gaming with luxury stays and golf. Grupo Vidanta’s Nuevo Vallarta property draws 500,000 annual visitors, 44% from the U.S., via packages bundling blackjack tournaments with yacht charters. Cruise tourism amplifies growth: Royal Caribbean’s Cozumel stopovers generate $180 million from casino excursions, targeting retirees with free-play credits. Cross-border betting is surging in gambling market of Mexico—23% of Texas bettors use VPNs to access Caliente’s U.S. college football markets—but peso volatility dampens foreign spending. Post-2023 devaluation, Californian visitors reduced average casino budgets by 14%, prompting operators to lure Argentinian high rollers with direct flights to Mérida. However, climate risks temper gains—Hurricane Otis disrupted 12 coastal casinos in 2023, costing $87 million in closures. For sustainability, SECTUR’s 2024 initiative promotes “golf-and-gaming” circuits in underdeveloped states like Aguascalientes, leveraging partnerships with PGA Tour Latinoamérica.
Technology Adoption: AI, Blockchain, and Virtual Reality Advances
Mexican operators in gambling market invested $230 million in tech upgrades in 2023, prioritizing AI tools for personalization and fraud detection. Codere’s chatbot resolves 83% of inquiries with a 4.7/5 satisfaction score, while Caliente’s machine learning model flags problem gamblers via behavioral cues like 3 AM logins. Virtual Reality casinos are expanding—Win Systems’ VR parlors in Guadalajara offer Meta Quest-powered blackjack, drawing 12,000 monthly users—but remain niche due to $600 headset costs. Blockchain adoption addresses transparency: 15% of licensees use Bitso for Bitcoin payouts, settling withdrawals in 22 minutes versus three days for banks. Cybersecurity gaps persist, evidenced by January 2024’s $4.5 million hack of Apuesta Total’s player database. Rural adoption lags—only 38% of Oaxaca’s casinos have 5G—but partnerships with Telcel aim to launch 150 5G gaming zones by 2025, slashing latency for esports bets.
Social Challenges: Addiction, Crime, and Regulatory Backlash
Problem gambling afflicts 2.3% of Mexican adults, per CONADIC’s 2024 survey—double the global average—with Sonora (4.1%) and Sinaloa (3.8%) hardest hit in the gambling market. SEGOB mandates operators fund 134 addiction clinics via 1% GGR contributions, yet only 17% of users self-exclude despite pop-up prompts. Cartels exploit weak oversight: 2023 saw $270 million laundered through Michoacán casinos, triggering federal raids and 11 venue closures. Public resistance grows—49% oppose new casinos per IEP polls—stalling projects in Querétaro and Puebla. Youth protections tightened in January: influencers like Rivers_GG face $25,000 fines for promoting betting on Twitch. Meanwhile, industry-funded harm reduction campaigns—like Caliente’s “Juego Responsable” school workshops—reach 200,000 teens annually. Balancing growth and ethics remains pivotal, as unchecked expansion risks replicating Spain’s 2010 addiction crisis, warns OECD’s 2024 Mexico report.
Mexico Gambling Market Key Players:
- Big Bola Casinos
- Caliente
- Codere México
- PlayCity Casino
- Strendus
- Betcris México
- Other Prominent Players
Key Segmentation:
By Type
- Sports
- Fixed Odds Sports Betting
- Pari-Mutuel Betting (Horse and Dog racing)
- In-Play/Live Betting
- Exchange Betting
- Spread Betting
- Others
- Casino
- Blackjack
- Baccarat
- Teen Patti
- Three Card Poker
- Four card poker
- Red Dog
- Others
- Lottery Games
- Scratch-offs
- Bingo
- Keno
- Electronic Gaming Machines
- Others
By Channel Type
- Offline
- Casinos
- Betting shops/halls
- Arcades
- Bookmakers
- Online
- Virtual Game
By Payment Method
- Credit and debit cards
- E-wallets
- Prepaid cards and Vouchers
- Bank Transfers
- Cryptocurrencies
- Others
By End User
- Gambling Enthusiast
- Dabblers
- Others
Latest News
AGS Appoints Arthur Rotziokos and Richard Orozco to Lead International Growth Efforts

AGS (NYSE: AGS), a leading supplier of high-performing slot, table, and interactive products and services to the global gaming industry, today announced two key appointments that will significantly strengthen its international operations. Arthur Rotziokos has been appointed as the Senior Director of Product Management – Asia-Pacific (APAC), and Richard Orozco has assumed the role of Senior Director of Product Management – International. Both report to Rob Ziems, AGS’ Chief Business and Legal Officer, who oversees international business.
“With tremendous growth potential and plenty of greenfield in international markets, AGS is well-poised to seize new opportunities on the global stage. Both Arthur and Richard bring unparalleled expertise and a deep well of gaming industry experience that will be vital to AGS’ global expansion strategy. Their leadership will be instrumental as we accelerate our international reach and advance our product offerings in these key markets,” said Rob Ziems.
Arthur Rotziokos, based in Sydney, Australia, will lead AGS’ entry into the rapidly expanding APAC market. With over three decades of experience in the gaming industry, including his most recent role as Vice President of Research & Development at Light & Wonder, Rotziokos is well-positioned to drive AGS’ strategic expansion across the region. His career spans roles at leading companies such as Ainsworth Game Technology and IGT, where he developed strong industry relationships and pioneered game development initiatives that led to business growth in global markets.
Richard Orozco, an experienced leader in international product management, will oversee AGS’ global product strategies, focusing on regions such as Latin America and Europe. Orozco joins AGS with extensive experience in managing product portfolios across international markets, including his most recent role as Vice President of Product Strategy at Ainsworth Game Technology. In his new role, he will work to drive market performance, optimize product lifecycles, and strengthen AGS’ market share in key international territories.
With both Rotziokos and Orozco taking on pivotal roles, AGS is poised to build its brand and gain a foothold in key international markets, further enhancing its commitment to delivering cutting-edge gaming products and solutions to operators and players worldwide.
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