theScore, the Canadian company that has become one of the leading sports gaming content suppliers in North America, has reported a record handle of 137.4 million Canadian dollars for the first half of its financial year.
The second quarter of the 2020-2021 fiscal year had quite impressive results, with a handle of 81.6 million Canadian dollars. The comparison to last year’s results gives a better understanding of just how good the three months to 28 February 2021 were for theScore. In fact, the handle went up by no less than 491% compared to the same period of last year.
However, overall revenue decreased from 2020 to 14.1 million dollars from 15.9 million dollars. The net gaming revenue was negative, representing a loss of 4.4 million dollars for the company. That is a 20-fold increase in net gaming revenue losses compared to the first half of the 2019-2020 fiscal year.
As for media revenue, the company did a lot better as it recorded an increase of 15.5% to 18.6 million dollars. Most of the company’s overall revenue came from Canada (8.3 million dollars), while revenue from the United States went down by 39.6% to 5.8 million dollars.
The company had significant operating costs, which led to the overall loss of 25 million dollars. The recorded costs were 39.2 million dollars, with 6 million spent on developing new products. Score Media and Gaming Incorporated is based in Toronto, but owns and operates digital sports media and sports betting products both in Canada and the United States.