Score Media and Gaming Inc has cited a “stellar start” to the new fiscal year having posted financial results for the three months ended November 30, 2020 this week. Handle and media revenue were up, but EBITDA loss deepened year-on-year.
Year-on-year handle saw growth of 535% and media revenue for Q1 F2021 was $10.6m compared to $9.2m for the same period last year, a new all-time record for theScore for a single period.
Gaming handle was $55.8m and gross gaming revenue was ($0.3)m in Q1 F2021. When taking into account promotional costs and fair value adjustments on unsettled bets, this resulted in negative net gaming revenue of $2m.
EBITDA loss in Q1 F2021 was $9.3m versus EBITDA loss of $4.8m for the same period last year. The increase in EBITDA loss was, said the firm, primarily the result of additional expenses incurred in connection with the expansion of our gaming operations compared to the prior year.
Founder and CEO John Levy told investors: “Our new fiscal year is off to a stellar start, including our best-ever quarter for media revenue, exponential handle growth on theScore Bet, and yet another record period for our esports operations. We continue to deepen our market-leading media and betting integrations and achieved year-over-year handle growth of 535% on theScore Bet.
“While still in the early stages of this fast-growing industry, we are steadily strengthening our expanding footprint in the North American sports betting market. Now, following successful recent launches in Colorado and Indiana, we’re on track to launch