Score Media and Gaming has made the decision to shut down its sports betting operations in the United States on Canada Day, July 1st 2022.
Sportsbook will stop accepting wagers on June 15th, 2022
The decision to shutter its U.S. sportsbook comes just eight months after theScore’s acquisition by Penn National Gaming in a $2 billion deal. In anticipation of the shutdown, all theScore sportsbooks in US states will stop accepting bets on the 15th June 2022. From this date, users will only be allowed to withdraw funds from their accounts. theScore’s media arm and its sports betting operations in Ontario will be unaffected by the shutdown.
theScore currently operates in four U.S. states: Colorado, Indiana, Iowa and New Jersey. The shutdown will allow owner Penn National to focus on its other sports betting brand, Barstool Sports. Penn currently owns 36% of Barstool and has an option to buy controlling ownership.
Speaking to Yahoo Finance Canada, theScore’s president and COO Benjie Levy said:
“Since Penn’s acquisition of theScore, the company’s plan has been to lead with Barstool Sportsbook in the U.S., and theScore Bet in Canada, given our strong brand equity there.
With theScore Bet launched and thriving in Ontario, and as we approach a major undertaking this summer with the launch of our proprietary risk and trading service, the timing is right to focus our U.S. efforts on marketing Barstool Sportsbook and our Canadian efforts on marketing theScore Bet.”
theScore has struggled to gain a foothold in a U.S. market that is dominated by DraftKings and FanDuel, and cannot compete with the well-capitalized sports betting leaders.
However, things are a little different north of the border where theScore is dominating the local Ontario sports betting market that launched in April of this year. Since then the company has signed a major 10-year sponsorship deal with the Toronto Blue Jays that will see a branded sportsbook and bar at the Rogers Center.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.