theScore appoints new Chief Financial Officer
The sports betting company theScore has appointed Alvin Lobo as its Chief Financial Officer (CFO).
US.- theScore revealed this week the appointment of Alvin Lobo as Chief Financial Officer (CFO) with immediate effect. The senior gaming industry executive joins theScore from Boyd Gaming Corporation, where he was VP of Corporate Finance.
John Levy, founder and CEO of theScore, said that Alvin’s considerable financial and gaming industry expertise further strengthens the brand. The CEO highlighted his contribution during a groundbreaking period of growth and expansion. The company is preparing to launch its mobile sportsbook in the US. “We’re thrilled to secure someone of his calibre to lead our finance team moving forward,” he said.
“This is an exciting time to be joining a leading player in mobile sports media and gaming,” said Lobo. “theScore stands alone through its uniquely integrated approach to media and sports betting. I’m looking forward to playing a key role as the company further grows and expands its core businesses.”
theScore authorised to launch sports betting in New Jersey
The New Jersey Division of Gaming Enforcement (DGE) has granted the initial approval that authorises theScore to offer online and mobile sports betting in New Jersey.
Back in December 2018, the company became the first one in the US to announce its intentions to operate a sportsbook in New Jersey, in a deal with Darby Development, operator of Monmouth Park. Last month, theScore also announced the expansion of its operations through a multi-state framework agreement with Penn National.
The agreement with Penn National
Besides the 20-year framework agreement that provides theScore with the right to obtain market access to offer online and mobile sports betting and iGaming applications in 11 states where Penn National operates casinos and racetracks, the latter will also take a strategic equity stake in the company.
theScore’s ability to launch and operate online and mobile sports betting and iGaming applications in these states will depend on the adoption of laws and regulations permitting online and mobile sports betting and iGaming, as well as receipt of all relevant licenses and approvals.
