10:58:36 EDT Thu 25 Apr 2024
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CA



theScore Inc
Symbol SCR
Shares Issued 252,646,436
Close 2014-09-17 C$ 0.31
Market Cap C$ 78,320,395
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Post says theScore mulls getting into on-line gambling

2014-09-18 09:25 ET - In the News

The Financial Post reports in its Thursday edition if you missed out on the dramatic gains in Amaya Gaming, there may be another Canadian company to provide exposure to the on-line gambling market. The Post's Jonathan Ratner, writing in Trading Desk, says theScore (31 cents) may partner with an on-line casino, Beacon Securities analyst Vahan Ajamian said in a report Wednesday. He envisions theScore offering a "bet now" button for sporting events, much like the "buy now" buttons Facebook and Twitter announced for their apps. If the U.S. landscape changes in favour of on-line gambling, he estimates theScore could add as much as $50-million (U.S.) in annual revenue. "We see compelling value in the company's shares based solely on its existing advertising business," Mr. Ajamian told clients, maintaining a buy rating and 65-cent price target on the stock. The analyst highlighted estimates that put illegal sports betting in the U.S. as high as $500-billion (U.S.) a year. He also figures the sports gambling market may be 10 times larger than the on-line poker market. Mr. Ajamian says there is growing momentum for sports gambling in the U.S., with New Jersey letting casinos and racetracks offer sports pools.

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