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.
Latest News
Bede Gaming awarded NASPL Associate Membership

Pioneering iGaming technology company becomes the latest member of North American Association of State and Provincial Lotteries trade group, reinforcing its commitment to advancing the lottery sector through innovative digital solutions
Bede Gaming, the data-driven iGaming technology provider known for its market leading software and full-service platform solutions, announced this month that it has officially joined the prestigious North American Association of State and Provincial Lotteries trade group as an Associate Member.
NASPL is the largest trade association in the lottery space, representing 53 state and provincial lottery members throughout North America. The group plays a pivotal role in advocating for lottery organisations on matters of general policy and best practice, while also leveraging collaboration, communication, education, and information for the betterment of the industry.
“NASPL is pleased to have Bede Gaming as our newest Associate Member Partner; we look forward to collaborating this year and beyond with the goal of strengthening our industry.” Jake Coy, Director of Partner Relations, NASPL.
Reflecting on the company’s new NASPL membership, Colin Cole-Johnson, Chief Executive Officer at Bede Gaming, said: “We’re absolutely thrilled to be joining NASPL as an Associate Member. As a company that’s passionate about supporting lottery customers in achieving their digital transformation goals, this membership provides an opportunity for us to further demonstrate our capabilities and do so in alignment with the highest industry standards.
“Bede is looking forward to working closely with NASPL members and partners to learn about the challenges that they face. Our goal is to explore how our pioneering platform technology can best support their needs, while also contributing to the broader advancement of the lottery industry.”
The NASPL ’25 Annual Conference and Tradeshow this month presents the first opportunity for Bede to do precisely that, with many NASPL members attending, including event host and current Bede partner, the Ontario Lottery and Gaming Corporation (OLG).
As existing members of both the World Lottery Association and European Lotteries, Bede holds a strong commitment to supporting the future of the industry through innovative digital solutions. In the North American market, this is exemplified by the company’s ongoing successful partnership with OLG, which was a key factor in the decision to pursue NASPL membership and a move that was wholeheartedly supported by the provincial lottery.
“Bede has been a trusted partner to OLG for five years, providing us with innovative products and technical solutions that continue to enhance the digital lottery experience for our players in Ontario,” confirmed Andrew Darley, VP of iCasino and iLottery at OLG. “We were happy to recommend them for this esteemed membership and believe that by joining NASPL, they’ll now have the perfect platform to showcase how their expertise can assist the industry going forward.”
Canada
Thunderkick commits to growth in Ontario with Betty partnership

Independent slots studio Thunderkick has agreed a deal with Ontario-based operator Betty to supply the rapidly growing online casino with a diverse collection of globally popular titles.
Betty, an official partner of sporting franchises Toronto Maple Leafs and Toronto Raptors, has risen to prominence since its 2022 establishment, when it was built following the consultation of 300 casino players to create the optimal iGaming environment.
Distinguishing itself from North American competitors by catering specifically to slot enthusiasts rather than sports bettors, the operator has curated a portfolio of 2,800 games, hand-picked to deliver customers maximum entertainment value.
Thunderkick’s content is the latest to be integrated into Betty’s online casino, and the agreement will see a selection of its most popular titles, including The Wildos 2, Midas Golden Touch 3, and Esqueleto Explosivo 3, made available to a greater number of Ontarian players.
Thunderkick marked its debut in the Canadian province in Q2 of 2024, and has since partnered with a network of leading operators to improve its market position. The collaboration with Betty will further amplify its visibility in a key jurisdiction as the provider looks to reinforce its reputation as a global slot developer.
Svante Sahlström, CCO at Thunderkick, said: “It’s our mission at Thunderkick to go deeper, not wider, in 2025. That means forging meaningful, lasting relationships in target markets as opposed to securing as many commercial deals as possible.
“Since entering Ontario over 12 months ago, we have worked tirelessly to enhance our presence in the province, and working with leading brands such as Betty allows us to bring our unique games to a deeper pool of Canadian players.”
Paraskeva Smirnova, Casino Operations Manager at Betty, added: “Betty’s USP has always been our drive to build a slot portfolio with the very best titles from the industry’s most creative suppliers.
“Thunderkick’s passion for slot development is there for all to see, and the introduction of its games to our casino further elevates the consumer experience.”
Compliance Updates
Arizona Department of Gaming Issues Cease-and-Desists on “Phoenix Dream Home Sweepstakes”

The Arizona Department of Gaming (“the Department” or “ADG”) issued cease-and-desist orders to Raffall, a company based in the United Kingdom, and to an Arizona resident using the platform to promote the ‘Phoenix Dream Home Sweepstakes,’ currently advertised online and through a separate website, winthisazhome.com, which is marketing the chance to ‘Win a Luxury $1.3M Arizona Mountainside Home.’
According to the Department’s investigation, the promotion required participants to purchase entries for a prize to be awarded and promised either a home transfer or a cash payout, depending on sales volume. The investigation further determined that the organizers intended to profit from ticket sales. Based on these findings, the Department alleges the activity constitutes an illegal gambling operation under Arizona law.
As part of the enforcement action, Raffall has been directed to remove all gambling-related drawings or giveaways targeting Arizona residents, and the Arizona resident has also been ordered to cease promoting or conducting any unlawful gambling activity.
“Illegal gambling can take many forms and it does not matter if it is labeled a sweepstakes, raffle, giveaway, or drawing,” said Jackie Johnson, Director of the Arizona Department of Gaming. “Unregulated operations put Arizonans at risk because there is no oversight, and therefore no accountability or safeguards in place. The Department will continue to take enforcement action to protect consumers, and we urge the public to learn what is legal before participating in or hosting any gambling activity.”
Why This Operation Is Illegal
Arizona law prohibits gambling unless it is specifically authorized (A.R.S. Title 13, Chapter 33). There is no exception for so-called “sweepstakes.” Raffles may only be conducted by Arizona charitable, tax-exempt organizations (A.R.S. § 13-3302(B) & (C)), and personal profit is prohibited. Only individuals 21 years of age or older may legally participate in gambling in Arizona.
Because this operation is accessible to users under the age of 21, is conducted for personal gain, and is not conducted by a qualified nonprofit, it violates Arizona law. Additional potential felony violations include:
- Promotion of Gambling – A.R.S. § 13-3303
- Illegal Control of an Enterprise – A.R.S. § 13-2312
- Money Laundering – A.R.S. § 13-2317
Furthermore, foreign-based platforms, such as Raffall, do not adhere to Arizona or U.S. gambling laws, leaving consumers without essential protections.
Consumer Protection Advisory
As illegal online gambling activity continues to rise, the Department urges all residents and visitors to be cautious when participating in gaming, whether online or in-person. Regulated gaming provides important consumer protections, ensuring fair play and fair drawings, data security, accountability, and a safer overall experience.
If you purchased entries in this illegal gambling operation:
- Stop participating immediately and do not buy additional entries.
- Contactyourbank or credit card company to dispute the charges or request a chargeback. Your financial institution is the best avenue for seeking a refund.
- Monitor your accounts for unauthorized transactions.
- If you suspect identity theft, report it to the Federal Trade Commission (FTC):
- IdentityTheft.gov (English)
- RobodeIdentidad.gov (Spanish)
Important: The Department cannot assist with refund requests or individual disputes against unlicensed platforms. Consumers must work through their financial institutions to protect themselves and/or retain legal counsel. They may also file complaints with the Arizona Attorney General’s Consumer Information and Complaints Unit at (602) 542-5763 or azag.gov/consumer.
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