Canadian sportsbook operator Score Media and Gaming Inc., announced an initial public offering in the United States.
The company, more commonly known as theScore, will list its shares on the Nasdaq under the symbol, “SCR.”
And with theScore Bet already live in several U.S. market, including New Jersey, the move makes sense.
Colorado, Indiana, and Iowa are the others. And more states are on the horizon.
More on theScore IPO
According to the press release, Score Media said it plans to sell five million Class A shares in the US IPO.
And while the American component is new, the stock market part is not.
The Canadian company is already publicly traded on the Toronto Stock Exchange under the same ticker symbol.
A quarterly earnings call in January was an early indication of a dual listing on US and Canadian markets.
“We believe a U.S. listing would benefit our business and shareholders as we seek to further execute on the growing opportunity in the rapidly developing North American sports betting market,” John Levy, founder and CEO of theScore, said in a statement.
What’s theScore in NJ?
TheScoreBet app went live in the Garden State in 2019. It marked the company’s American debut, too.
TheScore operates under Monmouth Park Racetrack’s NJ sports betting license.
It’s one of three online skins. The others are William Hill and SugarHouse.
But theScore has big plans to expand its New Jersey footprint.
The company is preparing to enter NJ’s online casino market sometime this year.
Score Media and Bally’s Corp., announced an iGaming deal in 2020. State gaming regulators still need to approve Score Media and Gaming for an online casino license.
Going public with iGaming, sports betting
Similar to other gaming companies that have started to offer public shares, They will join a growing list of online gambling brands. The list currently includes:
- Rush Street Interactive (SugarHouse)
- Golden Nugget Online Gaming
Score Media is the latest looking to capitalize on the growth of iGaming and sports betting.
Here is more from Levy:
“TheScore is uniquely positioned to grow our footprint and capitalize on the expansion of legalized sports betting and iGaming across the U.S. and Canada.”