theScore Issues Statement Following the Passing of Bill C-218 by the House of Commons
Legislation to Legalize Single Event Sports Betting in Canada Now Moves to the Senate for Reading and Adoption
Score Media and Gaming Inc. ("theScore" or the "Company") (TSX:SCR, NASDAQ:SCR) Founder and CEO John Levy issued the following statement on the passing of Bill C-218 by the House of Commons today. Bill C-218, which would legalize single event sports betting in Canada, now moves to the Senate for reading and adoption.
"We commend the members on all sides of the House of Commons for quickly passing this much-needed legislation. Today's development is a major step forward and we are increasingly encouraged by the widespread industry and strong cross-party support that Bill C-218 has garnered. Now that Bill C-218 has been passed by the House, we look forward to the Senate swiftly carrying the ball over the goal line."
Levy added, "We also want to recognize MP Kevin Waugh for his tireless work in sponsoring and shepherding Bill C-218 through the House of Commons."
theScore estimates a market potential for online gaming in Canada of between US$3.8 billion and US$5.4 billion in annual gross gaming revenue, based on historical data extrapolated from legal online gaming markets in the U.S. and globally.
theScore's sports media app (iOS and Android) is one of the most popular multi-sport news and data apps in North America and its mobile sportsbook, theScore Bet (iOS and Android), delivers an immersive and holistic mobile sports betting offering, including a wide range of pre-game and in-play betting across all major sports leagues and events, and a comprehensive variety of bet types, and is currently live in New Jersey, Colorado, Indiana and Iowa.
About Score Media and Gaming Inc.
Score Media and Gaming Inc. empowers millions of sports fans through its digital media and sports betting products. Its 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. The Company's 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. Publicly traded on the Toronto Stock Exchange (TSX:SCR) and the Nasdaq Global Select Market (NASDAQ:SCR), theScore also creates and distributes innovative digital content through its web, social and esports platforms.
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 enactment of enabling legislation and regulations in the provinces and territories of Canada to facilitate online gaming and the enactment of federal legislation to permit single-event sports wagering (including the timing of such legislation and regulations being passed and proclaimed in force (if at all) and the terms and conditions imposed in such legislation and regulations on participants in the online gaming industry), the receipt by the Company of all relevant licences and approvals under the relevant legislation and regulations, and the rate of adoption and market potential of online gaming in Canada, and those factors which are discussed under the heading "Risk Factors" in the Company's Annual Information Form as filed with applicable Canadian securities regulatory authorities and available on SEDAR under the Company's profile at www.sedar.com and as filed with the U.S. Securities and Exchange Commission and available at www.sec.gov, and elsewhere in documents that theScore files from time to time with such securities regulatory authorities in Canada and with the U.S. Securities and Exchange Commission, including its Management's Discussion & Analysis and Management Information Circular. 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.
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