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theScore Bet Secures Market Access from Twin River Worldwide Holdings, Inc. to Operate Online Casino in New Jersey
BusinessWire - 1 hour ago
Score Media and Gaming Inc. (TSX Venture: SCR) ("theScore" or "the Company"), is pleased to announce that its subsidiary, Score Digital Sports Ventures Inc. ("theScore Bet") has secured market access to operate an online casino in New Jersey via a multi-year agreement with Twin River Worldwide Holdings, Inc. (NYSE:TRWH) ("Twin River").
theScore Bet anticipates launching its online casino product in New Jersey in the second half of 2021, subject to securing applicable licensing and regulatory approvals from the New Jersey Division of Gaming Enforcement and the completion of Twin River's pending acquisition of Bally's Atlantic City Hotel & Casino in Atlantic City, New Jersey.
"The addition of an online casino offering to our award-winning and truly differentiated mobile sports betting platform broadens our reach and deepens our strong portfolio of assets," said John Levy, Founder and CEO of theScore. "This is yet another step towards providing theScore's media and betting patrons with a completely holistic and tightly integrated media and gaming experience."
"We are excited to partner with theScore and to provide our Atlantic City guests with a highly-personalized i-Gaming experience," says George Papanier, President and CEO of Twin River Worldwide Holdings. "We look forward to working with them and engaging our guests as they leverage this new, exciting platform."
Under the agreement, Twin River will receive a percentage of revenue derived from theScore Bet's online casino operations in New Jersey, subject to certain annual minimum guaranteed amounts, an upfront fee, and renewal fees if applicable. The agreement spans an initial term of 10 years, extendable by a five-year renewal term at theScore's option and a further five-year renewal term upon mutual agreement of the parties.
Currently taking wagers in New Jersey and set to expand into Colorado and, subject to receipt of regulatory approval, Indiana, theScore Bet (iOS and Android) delivers a holistic media and gaming experience and has been uniquely integrated with theScore's highly-popular sports news and scores app. Earlier this month, theScore Bet was named Best Online Mobile Sports Betting Experience at the Cynopsis Sports Media Awards.
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 Score Media and Gaming Inc.