Timebuilder >> Here's my 2 cent opinion on what it meansWhat does this mean for theScore’s future?
That’s the million dollar question and the simple answer is that sports betting is going to make theScore wildly profitable, in the very short term…finally. But we all knew that.
Reported revenue for last quarter, Q3 was 8.5M or $2,833,333/mo
Let’s look at Monmouth’s September revenue [$2,364,466] for the on-line segment of their reporting. In order to make a SWAG, I’m going to assume that Will Hill and Sugar collectively take 80% of that, since they’ve been operating at Monmouth for over a year [June 2018 start]. That leaves us 20% of that $2,364,466 or $472,893 in additional revenue for September. [Let’s round up and call it $500k]
Now, let’s remember that the PENN deal gets us into 11 total locations.
I’m going to assume that the other 10 locations when they come on-line to have slightly less action. I’m not going to look at each state’s population and try to guess based on that [you can do that extrapolation if you wish]…but my SWAG for monthly revenue from the 10 other states to be, let’s say $300,000 per month.[or $3M total]
So now we have TOTAL monthly betting revenue of $500k [NJ] + $3M [10 other states] = $3.5M/mo
It’s my belief that these numbers are on the conservative side, but heck, it’s a guess…it’s my budget forecast :) …and it doesn’t include the benefits of any additional advertising.
In summation, theScore is on the cusp of more than doubling monthly revenue. Can you say “Positive EBITDA”?
Congratulations to you, because if you are here now, reading this, you’re going to make some money.