theScore given green light for Colorado launch
Score Media and Gaming, owner of online operator theScore Bet, announced it has received authorisation from the Colorado Division of Gaming to offer its online sports betting service to customers in the state.
It will launch through a market access agreement, sealed in January, with casino operator Jacobs Entertainment.
Founder and CEO of theScore, John Levy, said: “"We can’t wait to launch theScore Bet in Colorado later this month and showcase our incredible betting product to the passionate sports fans there. This regulatory approval is another significant step toward theScore Bet’s multi-state expansion as we roll out our uniquely integrated media and betting experience across the country.”
Due to a period of “unprecedented challenge”, the company saw its revenue fall 71.8% year-on-year in the three months to May 31. Revenue in this time came entirely from media activities, as the novel Coronavirus (covid-19) pandemic saw professional sports suspended across the US and globally.
The Colorado Department of Revenue reported a month-on-month rise in sports wagering revenue in June, while player spending on betting also increased by 48.8%. Revenue for both retail and online sports wagering amounted to $2.2m, up by 129.2% from $946,741 in May, the first full month of legal sports betting in Colorado.