Friday, August 1, 2025

theScore To Be Acquired By Penn National For US$2.0 Billion

Score Media and Gaming (TSX: SCR), more commonly known as theScore, appears to be the latest Canadian small cap success story. It was announced this morning that the firm would be acquired by Penn National Gaming (NASDAQ: PENN) for roughly US$2.0 billion in both cash and stock.

In announcing the transaction, similarities were drawn to Penn’s Barstool Sports brand, with Jay Snowden, CEO of Penn National commenting, “theScore’s unique media platform and modern, state-of-the art technology is a powerful complement to the reach of Barstool Sports and its popular personalities and content.” The transaction is expected to provide Penn with “a path to full control of [their] own tech stack.”

In terms of monetary benefits, the acquisition is expected to provide “adjusted EBITDA accretion by Year 2.” Medium term adjusted EBITDA is expected to improve by $200 million, while long term the upside is estimated at $500 million on an adjusted EBITDA basis, however these timelines were not quantified.

The transaction will see theScore acquired for $2.0 billion, with shareholders of the company to receive US$17.00 per share in cash and 0.2398 shares of Penn stock for each share held. The valuation effectively implies a price of US$34.00 per common share, which equates to a massive 87.0% premium to yesterdays closing price of the equity after translating to Canadian dollars.

The transaction is to be funded by Penn National with cash on hand. Post transaction, theScore shareholders will hold roughly 7% of Penn National on a combined basis.

The transaction is currently slated to close in the first quarter of 2022.

theScore last traded at C$22.75 on the TSX.


Information for this commentary and analysis was found via Sedar and theScore. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

One Response

Video Articles

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Charting The Storm and Watching The Water – Featuring The VIX And Barstool’s Own Davey Day Trader

Our best efforts to keep our readers in content that doesn’t figure to come unglued...

Thursday, April 9, 2020, 08:32:21 AM

PENN: Consensus Points To Q1 Revenues Of $1.14 Billion

Penn National Gaming (NASDAQ: PENN) will be reporting its first quarter financial results on May...

Wednesday, May 5, 2021, 05:59:00 PM

SEC Charge Penn National Gaming Employee Who Made US$560K From Insider Trading

A software engineer on Monday was charged with insider trading on a public company’s stock...

Wednesday, June 15, 2022, 11:00:00 AM

Score Media & Gaming Conducts 10 To 1 Reverse Split

Score Media and Gaming (TSX: SCR) last night announced that the firm will be conducting...

Friday, February 12, 2021, 07:05:25 AM

UPDATED: Dave Portnoy Suspended From Twitter For Less Than Two Hours

This evening Barstool Sports founder, Dave Portnoy, managed to make noise on a platform he...

Friday, June 18, 2021, 09:07:00 PM