theScore sees third quarter media revenue jump 270%

Finance News

Score Media and Gaming has reported total revenue for Q3 2021 of $6.4 million, with record Q3 media revenue of $8.9 million partially offset by negative net gaming revenue of $2.5 million.

Media revenue in the quarter grew 270% year-over-year from $2.4 million for the same period last year and was up 5.0% from the same period in 2019.

Gaming handle was $73.0 million and gross gaming revenue was negative $40,000 in Q3 F2021. Inclusive of promotional costs and fair value adjustments on unsettled bets, the Company generated negative net gaming revenue of $2.5 million.

theScore demonstrated continued momentum across our business in the fiscal 2021 third quarter as solid gaming handle was complemented by record third quarter media revenue,” said John Levy, Chairman and CEO of theScore.

“Third quarter media revenue of $8.9 million was up 270% year-over-year and grew 5% compared to the same period in 2019. In addition, our unique, integrated sports media and betting approach powered gaming handle of $73.0 million on theScore Bet, including $30.8 million wagered in March, representing our single biggest handle month to date.

We continue to work through the licensing process ahead of launches of theScore Bet in additional U.S. states, with an expectation that we will at least double the number of markets in which we are live in the next twelve months.