theScore posts 59 pct losses in 2019
According to a recent report, theScore posted an increase of 59.4% in its net loss in the 12 months to August 31, due to an expansion in the US.
US.- The gambling industry is changing and is forcing companies to adapt to the new landscape. That’s why Canada’s theScore has recently launched a new sportsbook in New Jersey.
However, its growing operation has also increased its net loss, which grew 59.3% in the year to August 31. Still, overall revenue went up 12% year-on-year to €21.4 million.
Furthermore, theScore reported higher sales in the US (+2.9%, €12.3m) and Canada (+28.4%, €9m).
“theScore Bet is live and taking bets in New Jersey, capping one of the most significant quarters and fiscal years in our history,” founder and CEO John Levy said, as quoted by iGB North America. “Not only did we successfully launch our new sports betting platform in the fast-growing New Jersey sports betting market, but we also secured market access rights for an additional 11 states via a highly-coveted partnership with Penn National Gaming.
“Along with New Jersey, this provides us with potential market access to offer mobile sports betting to about 30% of the US population,” he noted.
