TheScore announce financial figures for Q3 including a total revenue of $6.4m
Gaming handle of $73m also recorded.
TheScore has announced its financial and user numbers for Q3 of 2021. The numbers released by the betting company show impressive growth, with a betting a handle of $73m. This includes a record monthly intake of $30.8m in March.
Third quarter media revenue was recorded at $8.9m.These numbers see year-on-year media revenue up 270% and a 5% increase from the same period in 2019.
March also saw theScore complete its U.S. initial public offering and become listed on the Nasdaq Global Select Market, which raised gross proceeds of $186.3 million.
Speaking on this, theScore said: “Following our successful third quarter US initial public offering and public listing, our entire team remains focused on further establishing theScore as a leading, integrated provider of digital sports media and sports betting throughout the U.S. and Canada. We believe our unique collection of interactive media and leading-edge technology along with our massively engaged user base positions theScore for long-term growth and shareholder value creation.”
App engagement also saw gains in Q3 with 470.2 million user sessions, a 19% increase over the same period in 2019.
Overall, the company recorded revenue of 6.4m with an EBITDA loss of $21.1m, this has been attributed to the continuing expansion of the company’s gaming operations.
These numbers come as the company prepares for Canadian sports betting regulation, after single sports betting was legalized in June.
Speaking on growth in Canada the company said: “Canada realized a significant milestone last month with the passage of and subsequent Royal Assent for Bill C-218, which legalized single event sports wagering, paving the way for each Canadian province to implement a regulated sports betting framework.”
“With a large and passionate Canadian user base, strong brand identity and best in class integrated media and betting platforms, we are uniquely positioned for initial and long-term success in the market.”
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