theScore Granted Initial Approval for Sports Wagering Activities in New Jersey
theScore, Inc. (TSX Venture: SCR) ("theScore" or "the Company") today announced that the New Jersey Division of Gaming Enforcement (DGE) has granted an initial approval authorizing the Company's subsidiary, Score Digital Sports Ventures Inc. to engage in Internet and mobile sports wagering activities in the state. In accordance with the DGE's procedures, theScore will undertake a soft-launch phase of its sportsbook app with a select group of sports bettors in the state in the coming days, ahead of its anticipated state-wide launch in advance of football season.
"This is a huge milestone and a result of the tireless hard work that has gone into getting our sportsbook ready for launch," said John Levy, Founder and CEO of theScore. "We can't wait to debut a best-in-class sports betting offering in New Jersey, delivering a truly unique and holistic sports media and wagering experience for fans."
theScore became the first media company in North America to announce plans to operate a sports betting platform in December 2018 after finalizing an official licensing partnership for New Jersey market access with Darby Development LLC, the operator of Monmouth Park Racetrack, and the New Jersey Thoroughbred Horsemen's Association.
Last month, theScore announced a major expansion to its U.S. mobile sports betting platform through a strategic multi-state market access framework agreement with Penn National Gaming Inc., North America's largest regional gaming operator. The framework agreement provides theScore with the right to offer online and mobile sports betting and i-gaming applications in 11 states where Penn National operates casinos and racetracks, subject to applicable state gaming laws and regulations.
theScore's sports media app for iOS and Android is one of the most popular sports apps in North America, with an audience of approximately four million monthly active users that span every U.S. state. theScore's mobile sports betting applications will leverage proprietary sports betting platform technology by U.S. based i-gaming and sportsbook provider Bet.Works.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About theScoretheScore creates highly-engaging digital products and content that empower sports fans. Its flagship mobile app 'theScore' is one of the most popular multi-sport news and data apps in North America, serving millions of fans a month. The Company also creates innovative digital sports experiences through its web, social, and esports platforms, and has announced plans to launch a mobile sports betting application in the United States, subject to receipt of all relevant licenses and approvals.
Forward-looking (safe harbour) statementStatements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "may", "would", "could", "will", "believes", "plans", "anticipates", "estimates", "expects" or "intends" and other similar statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Such 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 Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including among other things, those which are discussed under the heading "Risk Factors" in the Company's Annual Information Form and Short-form Prospectus as filed with the TSX Venture Exchange and available on SEDAR at www.sedar.com and elsewhere in documents that theScore files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from the expectations expressed in these forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as required by applicable law or regulatory requirements.
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SOURCE: theScore, Inc.">