TORONTO – (COMMERCIAL THREAD) – Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR) (âtheScoreâ or the âCompanyâ) has made the following statement on the passage by the Senate of Canada of Bill C-218, An Act to amend the Code, which will legalize sports betting on a single event in Canada. Bill C-218 can now receive Royal Assent and be proclaimed into force.
“The Senate’s passage of Bill C-218 earlier today is a historic moment for Canada as it will legalize single-event sports betting,” said theScore President and CEO , John Levy. âWe thank MP Kevin Waugh and Senators David Wells and Brent Cotter for championing this bill, which has garnered strong all-party support in the House of Commons and the Senate. Passage of this important law allows theScore, along with our fellow stakeholders, to collectively usher in a strong industry that will drive business, technological innovation, jobs and economic growth while providing a safe and secure environment. reliable in which Canadians can bet on sports.
âThe upcoming legalization of single-event sports betting presents a substantial growth opportunity for our media and integrated betting business. theScore is Canada’s leading digital sports media brand and we look forward to bringing our award-winning mobile bookie, theScore Bet, to fans on our home turf. We are actively preparing for the expansion of online sports betting and iGaming in our home province of Ontario, which is expected to begin later this year, and we are uniquely positioned to be successful given our experience in mobile betting and from our large active user base. Additionally, we are excited to expand our relationship with the millions of loyal fans who already know, trust and interact with theScore app across Canada.
“Canadians will now be able to reap the many benefits resulting from a comprehensive and regulated sports betting framework that protects consumers, creates jobs and generates essential tax revenues.” Passage of this law is critical and we are confident that Canada will embrace legal sports betting and become a leader in this rapidly developing, high-tech industry. We look forward to continuing to work with the provinces to ensure a secure marketplace that offers a range of reliable and trusted options to consumers.
The Canadian Market Opportunity + theScore
â theScore estimates a market potential for online games in Canada between US $ 4.3 billion and US $ 5.4 billion in annual gross gaming revenue, based on historical data extrapolated from legal online gaming markets in the United States and around the world.
â The province of Ontario is a market equivalent to fifth largest US state by population. theScore estimates a potential market for online games in Ontario between US $ 1.7 billion and US $ 2.1 billion in gross annual gaming revenue, based on historical data extrapolated from legal online gaming markets in the United States and around the world.
â theScore uses the main sports media mobile app *. theScore app currently reaches approximately 3.75 million users annually in Canada, including 1.43 million in Ontario. In addition, theScore media app is the *third most popular in North America.
theScore is Canada’s leader in digital sports media. It started as a Canadian cable television sports network in 1997 which has developed a passionate fan through its authentic and innovative sports coverage. A digital disruptor, theScore launched its first sports media app in 2005, initiating the evolution into a technology-driven, mobile-centric enterprise. TheScore app is now one of the most popular mobile sports media platforms in North America.
theScore made the historic decision to become the first media company to launch a mobile bookie in North America and in September 2019, the bet on the score made its debut. A premier mobile sports betting platform, theScore Bet uniquely harnesses the power of media and betting through seamless integration with the flagship app “theScore”. theScore Bet is currently live in New Jersey, Colorado, Indiana and Iowa.
The company also operates âtheScore esports,â one of the world’s leading esports media properties, and distributes compelling digital content through social platforms that reach hundreds of millions of fans.
theScore is listed on the Toronto Stock Exchange (TSX: SCR) and the Nasdaq Global Select Market (NASDAQ: SCR).
* Based on ComScore data based on the average number of unique monthly mobile visitors in February 2021
Forward-looking statement (safe zone)
Statements made in this press release regarding future plans, events or performance are forward-looking statements. Any statement containing words such as âcouldâ, âwouldâ, âcouldâ, âwillâ, âbelievesâ, âplansâ, âforeseesâ, âestimatesâ, âexpectsâ or âhas notâ. No historical facts contained in this release are forward-looking, and such statements involve risks and uncertainties and are based on current expectations. These statements reflect theScore’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the Company to differ materially from future results, performance or achievements that could be expressed or implied by such forward-looking statements, including, among others, the adoption of enabling laws and regulations in the provinces and territories of Canada to facilitate online gaming and the enactment of federal laws to permit single-event sports betting (including when such laws and regulations will be adopted and proclaimed in force ( if applicable) and the terms and conditions imposed in such laws and regulations on participants in the online gaming industry), the receipt by the Company of all relevant licenses and approvals under relevant laws and regulations, and the rate of adoption and potential of the online gambling market in Canada, and the factors which are discussed under the heading. ue âRisk Factorsâ in the Company’s Annual Information Form as filed with applicable Canadian securities regulatory authorities and available on SEDAR under the Company’s profile at www.sedar.com and as filed with the United States Securities and Exchange Commission and available at www.sec.gov, and elsewhere in documents that theScore files from time to time with such securities regulatory authorities in Canada and with the United States Securities and Exchange Commission. United, including its MD&A and management information circular. If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements prove to be incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend and assumes no obligation to update these forward-looking statements, except as required by law or applicable regulatory requirements.