Score Media & Gaming Inc.

General Information
Business:

(Note: IPOScoop has “No Call” on this offering. This is not an IPO. This is an offering of Class A subordinate voting shares on the NASDAQ by a company whose stock already trades on the Toronto Stock Exchange under the symbol “SCR.” On Feb. 19, 2021, the Class A shares closed on the Toronto Stock Exchange at C$46.06 or US$36.52, based on the Canadian dollar/U.S. dollar exchange rate, as quoted by the Bank of Canada.)

We empower millions of sports fans through our digital media and sports betting products. Our media app ‘theScore’ is one of the most popular in North America, delivering fans highly personalized live scores, news, stats, and betting information from their favorite teams, leagues, and players. Our sports betting app ‘theScore Bet’ delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. We also create and distribute innovative digital content through our web, social and esports platforms.

The offering’s proceeds will be used to expand theScore Bet’s (the app’s) operations in the United States and Canada.

Revenues for the year ended Aug. 31, 2020, and Aug. 31, 2019, were $20.7 million and $31.1 million, respectively. This decline in revenue for the period reflects the direct impact of the disruption to the sports calendar caused by the COVID-19 pandemic. EBITDA loss for the year ended Aug. 31, 2020, was $30.5 million, compared with EBITDA loss of $6.5 million in the same period in 2019, an increase of $24.0 million, largely attributable to the revenue decline caused by the COVID-19 pandemic.

(Note: Score Media & Gaming priced its Class A stock offering on Feb. 24 by upsizing the number of shares – to 6 million from 5 million in the prospectus – and pricing the shares at $27 each – below the US$36.52 close on Feb. 19 of the Class A shares on the TSX – to raise $162 million. Estimated proceeds at the $36.52-per-share price were $182.6 million. The stock is set for a NASDAQ debut on Feb. 25, 2021.)

Industry: Media & Gaming
Employees:
Founded: 2012
Contact Information
Address 500 King Street West, Fourth Floor Toronto, ON M5V 1L9
Phone Number 416-479-8812
Web Address
View Prospectus: Score Media & Gaming Inc.
Financial Information
Market Cap
Revenues $ mil (last 12 months)
Net Income $ mil (last 12 months)
IPO Profile
Symbol SCR
Exchange NASDAQ
Shares (millions): 6.0
Price range $27.00 - $27.00
Est. $ Volume $162.0 mil
Manager / Joint Managers Morgan Stanley/Credit Suisse/Canaccord Genuity/Macquarie Cap;ital
CO-Managers Eight Capital/Cormark Securities/Scotia Capital
Expected To Trade: 2/25/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change