blogler.netlify.app Open in urlscan Pro
2a05:d014:58f:6200::65  Public Scan

Form analysis
1 forms found in the DOM

GET #

<form method="get" id="searchform" action="#" role="search">
  <label for="s" class="assistive-text">Search</label>
  <input type="text" class="field" name="s" id="s" placeholder="Search …">
  <input type="submit" class="submit" name="submit" id="searchsubmit" value="Go">
</form>

Text Content

BLOGLER


MENU


 * Home


PENN GAMING SPORTS BETTING APP

17-03-2021 by admin

– 20-year agreement provides theScore with market access for online and mobile
sports betting and i-gaming in 11 states via Penn National casinos and
racetracks

 1. Penn National Gaming Sports Betting App
 2. Penn Gaming Sports Betting App
 3. Betting Apps Sports
 4. Penn National Gaming Online Betting
 5. Penn Gaming Sports Betting Apparel
 6. Penn National Online Betting
 7. Penn Sports Betting

Sports betting is here, and Hollywood Casino at Penn National Race Course is
your 50-yard-line ticket to odds, point spreads and over/unders. Betting on
sports has never been easier. You can place wagers on the following sports at
Hollywood Casino at Penn. 2 days ago  DraftKings (NASDAQ: DKNG) and Penn
National Gaming (NASDAQ: PENN) are among the top gaming stocks to watch. This
came as more states allow sports betting and online sports betting.

– Penn National to take equity stake in theScore as part of US$10m private
placement

TORONTO, July 31, 2019 – theScore, Inc. (TSX Venture: SCR) (“theScore” or the
“Company”) today announced a major expansion of its U.S. mobile sports betting
platform, through a multi-state market access framework agreement with Penn
National Gaming Inc. (Nasdaq: PENN) (“Penn National”), North America’s largest
regional gaming operator. In connection with the framework agreement, Penn
National has also agreed to take a strategic equity stake in theScore.

The 20-year framework agreement provides theScore with the right to obtain
market access to offer online and mobile sports betting and i-gaming
applications in 11 states where Penn National operates casinos and racetracks.
These rights include “first skin” access rights in Louisiana and Mississippi,
“second skin” access rights in Indiana, Iowa, Missouri, Ohio, and Texas, and
“third skin” access rights in Michigan, Massachusetts, Maine, and Kansas. A
“skin” refers to the number of online brands an individual casino or racetrack
may offer pursuant to applicable state gaming laws and regulations.

theScore’s ability to launch and operate online and mobile sports betting and
i-gaming applications in these states will depend on the adoption of laws and
regulations permitting online and mobile sports betting and i-gaming, as well as
receipt of all relevant licenses and approvals. To date, Indiana and Iowa have
already enacted laws that will permit theScore to exercise its market access
rights under the framework agreement, while several other states are actively
considering legislation to legalize online and mobile sports wagering.

Concurrently, theScore also announced a US$10 million private placement of Class
A subordinate voting shares (“Class A Shares”), at a price of US$0.45 (C$0.59)
per Class A Share (the “Private Placement”). Penn National has subscribed for
US$7.5 million of Class A Shares as part of the Private Placement, alongside
other investors including John Levy Family Holdings Ltd., the family holding
company of theScore Founder and CEO John Levy. Proceeds from the Private
Placement will be used to facilitate the expansion of the Company’s sports
betting platform in the United States including the funding of an upfront market
access fee of US$7.5 million due to Penn National under the framework agreement.
Closing of the Private Placement, expected to occur on or about August 9, 2019,
is subject to approval of the TSX Venture Exchange.

“Securing this highly-coveted partnership with Penn National is a major step
towards our goal of becoming a leader in mobile sports betting in the United
States,” said John Levy, Founder and CEO of theScore. “We are thrilled that Penn
National believes in, and has invested in, our vision of an integrated approach
to media and sports betting and we can’t wait to unveil the best-in-class mobile
betting experience that we’ve been building for sports fans.”

“theScore has been a trailblazer in the sports media landscape for years, and we
are excited to be forming a strategic partnership with John and his team as they
embark on the first truly integrated sportsbook and sports media platform,” said
Jon Kaplowitz, SVP Interactive Gaming for Penn National Gaming.

theScore’s sports media app for iOS and Android is already one of the most
popular sports apps in North America, with an audience of approximately four
million monthly active users that span every U.S. state. In late 2018, theScore
announced plans to be the first media company in North America to launch a
mobile sports betting platform, initially in New Jersey through an agreement
with Darby Development LLC, the operator of Monmouth Park racetrack.

theScore remains on schedule for the launch of its mobile sports betting
application in New Jersey, subject to receiving all relevant licenses and
approvals from the New Jersey Department of Gaming Enforcement (DGE) and the New
Jersey Racing Commission (NJRC). theScore’s mobile sports betting applications
will leverage proprietary sports betting platform technology by U.S. based
i-gaming and sportsbook provider Bet.Works.


PENN NATIONAL GAMING SPORTS BETTING APP

Details of the Framework Agreement
The market access framework agreement between Penn National, theScore and Score
Digital Sports Ventures Inc. (“SDSV”), a wholly-owned subsidiary of theScore,
which has a term of 20 years, provides that SDSV will have the right to obtain
market access to operate branded online and mobile sports betting and i-gaming
applications pursuant to licenses conferred upon Penn National by the relevant
gaming regulators in the states listed above, subject to the adoption of laws
and regulations permitting online and mobile sports betting and i-gaming, as
well as receipt of all relevant additional licenses and approvals in such
states.

In addition, pursuant to the framework agreement:


PENN GAMING SPORTS BETTING APP

 * SDSV will pay to Penn National an upfront market access fee of US$7.5
   million, which is creditable against future state-specific market access fees
   which will become due and payable upon the execution of state-specific market
   access agreements between SDSV, PNG and/or certain of their affiliates
   following the enactment of state gaming laws and regulations permitting
   online sports betting or i-gaming;

 * When additional market access fees are due, SDSV will have the option to
   require PNG to increase its equity investment in theScore by the amount of
   such additional market access fees, based on a price per share for theScore
   equal to the 30-day volume weighted average trading price for such shares
   immediately preceding the date of issuance;

 * SDSV will pay to Penn National a certain percentage of the net gaming revenue
   derived from SDSV’s operation of online and mobile sports betting and
   i-gaming applications; and

 * theScore will provide Penn National with certain media marketing value across
   theScore’s digital media properties to promote Penn National’s land-based
   gaming properties.

Details of the Private Placement
As noted above, Penn National, John Levy Family Holdings Ltd. and other
investors have subscribed for an aggregate of US$10 million of Class A Shares at
a price of US$0.45 (C$0.59) per Class A Share. Proceeds from the Private
Placement will be used to facilitate the expansion of the Company’s sports
betting platform in the United States, including the funding of an upfront
market access fee of US$7.5 million due to Penn National under the framework
agreement. Closing of the Private Placement, expected to occur on or about
August 9, 2019, is subject to approval of the TSX Venture Exchange.


BETTING APPS SPORTS

John Levy Family Holdings Ltd., an entity controlled by John Levy, the Company’s
Founder and CEO, has subscribed for an aggregate of 2,222,222 Class A Shares in
the Private Placement. A material change report will not be filed more than 21
days prior to closing of the Private Placement as contemplated by the related
party transaction requirements under Multilateral Instrument 61-101 – Protection
of Minority Security Holders in Special Transactions as the insider
participation was only recently confirmed.

The Class A Shares to be issued under the Private Placement to Canadian
purchasers will be subject to a statutory hold period expiring four months and
one day from the closing date of the Private Placement. Additional resale
restrictions and legends may apply in the United States and other jurisdictions.


PENN NATIONAL GAMING ONLINE BETTING

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States nor shall there be any
sales of our securities in any state or jurisdiction of the United States in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state
securities laws and may not be offered or sold within the United States or to
U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration requirements is available.

For further information:
James Bigg
Sr. Manager, Communications
theScore, Inc.
Tel: 647-638-9281
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy of this news release.


PENN GAMING SPORTS BETTING APPAREL

About theScore Inc.
theScore creates highly-engaging digital products and content that empower
sports fans. Its flagship mobile app ‘theScore’ is one of the most popular
multi-sport news and data apps in North America, serving millions of fans a
month. The Company also creates innovative digital sports experiences through
its web, social, and esports platforms, and has announced plans to launch a
mobile sports betting application in the United States, subject to receipt of
all relevant licenses and approvals.


PENN NATIONAL ONLINE BETTING

About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in gaming and
racing facilities and video gaming terminal operations with a focus on slot
machine entertainment. The Company operates 41 facilities in 19 jurisdictions.
In total, Penn National Gaming’s facilities feature approximately 50,500 gaming
machines, 1,300 table games and 8,800 hotel rooms. The Company also offers
social online gaming through its Penn Interactive Ventures division and has
leading customer loyalty programs with over five million active customers.


PENN SPORTS BETTING

Forward-looking (safe harbour) statement
Statements made in this news release that relate to future plans, events or
performances are forward-looking statements. Any statement containing words such
as “may”, “would”, “could”, “will”, “believes”, “plans”, “anticipates”,
“estimates”, “expects” or “intends” and other similar statements which are not
historical facts contained in this release are forward-looking, and these
statements involve risks and uncertainties and are based on current
expectations. Such statements reflect theScore’s current views with respect to
future events and are subject to certain risks, uncertainties and assumptions.
Many factors could cause the Company’s actual results, performance or
achievements to be materially different from any future results, performance or
achievements that may be expressed or implied by such forward looking
statements, including among other things, the adoption or non-adoption of laws
and regulations permitting online and mobile sports betting and i-gaming in
certain states and the impact such adoption or non-adoption will have on
theScore’s ability to exercise its market access rights under the framework
agreement, the receipt of all relevant licenses and approvals, and those which
are discussed under the heading “Risk Factors” in the Company’s Annual
Information Form as filed with the TSX Venture Exchange and available on SEDAR
at www.sedar.com and elsewhere in documents that theScore files from time to
time with securities regulatory authorities. Should one or more of these risks
or uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results could differ
materially from the expectations expressed in these forward-looking statements.
The Company does not intend, and does not assume any obligation, to update these
forward-looking statements except as required by applicable law or regulatory
requirements.






POST NAVIGATION

Get Free Bingo Bash Chips
Fa Fa Fa Gold Slot Machine Download
Search


MOST POPULAR ARTICLES

 * : Fat Santa Slot Game
 * : Gambling Free Spins
 * : Wildz Casino No Deposit Bonus Codes 2020
 * : John Hunter Slot
 * : Best Multiplayer Games To Play With Friends
 * : Online Cash Games
 * : Online Gaming No Deposit Bonus
 * : Acoimbra Freeroll
 * : Wild Panda Slots




Blogler