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Tag: Score Media and Gaming Stock

  • Why The SCR Stock Has Fallen Nearly 8%?

    Score Media and Gaming Inc. (SCR) shares fell -7.84% to $16.35 in Tuesday’s after-hours session. theScore stock slumped -2.42% to close at $17.74. SCR stock traded 0.35 million shares, which is below the average daily volume of 0.61 million shares for the last 50 days.

    SCR shares have declined -4.21% in the last five days, but have gained -17.53% over the past month. During the last three months, SCR stock has shed -14.05%, and it has gained 241.15 percent so far this year. After releasing financial results, SCR stock dropped.

    Performance of SCR:

    theScore’s digital media and sports betting products reach millions of sports fans. theScore is SCR’s popular media app in North America for providing fans with highly personalized information on the latest scores, news, and statistics about their favorite teams, leagues, and players.

    TheScoreBet, SCR’s mobile app for sports betting, offers an immersive and comprehensive mobile wagering experience. Bets may be placed in New Jersey, Colorado, Indiana, and Iowa. Through SCR’s web, social, and esports platforms, the company creates and distributes innovative digital content.

    theScore released yesterday its third-quarter and nine-month results for the period ended May 31, 2021.

    Financial Results

    • SCR’s total revenue for the third quarter of fiscal year 2021 was $6.4 million, including $8.9 million in record media revenue and $2.5 million in negative net gaming revenue.
    • A year-over-year increase of 270% was achieved in media revenue during the quarter, from $2.4 million for the same quarter last year and 5.0% above the same period in 2019.
    • In Q3 F2021, there was $73 million in gaming handle and a loss of $40,000 in gross gaming revenue.
    • SCR generated a negative net gaming revenue of $2.5 million after taking into account promotional costs and fair value adjustments on unsettled bets.
    • For the same period last year, SCR suffered an EBITDA loss of $8.7 million.
    • In addition to the continued expansion of SCR’s gaming business, additional expenses related to US IPO costs and professional fees contributed to SCR’s wider EBITDA loss.

    SCR’s key figures:

    SCR (theScore) delivered record third quarter revenue across all of its businesses in fiscal 2021, both from games and media. Compared with the same period in 2019, revenue for the third quarter of $8.9 million grew by 270%. A unique, integrated approach to sports media and betting enabled SCR’s theScore Bet to generate $73.0 million in gaming handle in March, including $30.8 million wagered, representing one of the company’s biggest gambling month to date. SCR is preparing to launch theScore Bet in additional US states over the next year, in anticipation of at least doubling the number of markets in which it is available.

  • What Moved theScore (SCR) Stock Higher In Extended Trading?

    As of Tuesday after hours, shares of Score Media and Gaming Inc. (SCR) are trading at $25.95, up 6.88%. TheScore closed the regular session at $24.28 after adding 9.03%. SCR stock traded for 2.8 million shares, up from 0.56 million shares traded each day over the past 50 days.

    Despite losing 12.83% in the last five days, the score has gained 70.63% in the last month. Since the beginning of the year, the stock price of SCR has gained 349.53%, and it has shed -10.47% over the past 3 months. As a result of the passage of single event sports betting legislation, SCR stock surged.

    Legalization of single-game betting?

    theScore is a leading provider of digital sports media in Canada. Founded in 1997, SCR is a cable television sports network that has gained a following for its authentic, innovative sports programming. SCR started its evolution into a technology-driven company that is mobile-first in 2005 when it launched its first sports media app.

    ‘the score is one of the most popular mobile sports media apps in North America today. theScore Bet, SCR’s mobile sportsbook, made history in September 2019 by becoming the first sportsbook in North America.

    A statement from theScore announced that the Senate of Canada passed Bill C-218, An Act to Amend the Criminal Code, the legislation that will allow single event sports betting in Canada. It is now possible to receive Royal Assent and proclaim Bill C-218 into law.

    Opportunities for SCR in Canadian market:

    • SCR estimate that revenues from online gaming in Canada could reach between US$4.3 billion and US$5.4 billion annually based on historical data extrapolated from states with legal online gaming markets.
    • Ontario has a population of roughly the same size as the fifth-largest state in the US.
    • Taking historical data from market segments outside of the US and Canada into account, SCR estimates that online gaming revenue in Ontario could range from US$1.7 billion to US$2.1 billion annually.
    • SCR operates the most popular mobile sports app in Canada.
    • More than 3.75 million users access theScore app each year in Canada, including 1.43 million in Ontario.
    • The SCR media application is also among the top 3 of the North American app charts.

    theScore (SCR) Chairman and CEO, John Levy, declared that the Senate’s passage of Bill C-218 earlier today is a historic moment for Canada because it legalizes single event sports betting.

    In SCR’s view, legislation such as this will provide a safe and trustworthy environment for Canadians to bet on sports, while also driving business, employment, technological innovation, and economic growth.