Score Media and Gaming, the company behind theScore app and ScoreBet is changing stock exchanges.
Since going public in 2012, Score Media and Gaming has been listed on the TSX Venture Exchange in Canada. Starting on Tuesday, September 15 Score Media and Gaming will be moving to the Toronto Stock Exchange (TSX).
Why does this Score Media TSX graduation matter?
The Score’s shares that were listed on the Venture will be delisted when they begin trading on the TSX. This has no affect on investors, and they will not need to take any action.
The move to the TSX could be seen as a sort of graduation for the Score. Companies trading on the Venture are typically seen as smaller and more speculative investments.
News of the move also sent the Score’s stock price soaring. After closing at 67 cents at the end of last week, the stock jumped to close the day on Monday at 81 cents, a near 21 percent increase.
In the US, where the Score trades under the ticker TSCRF on over the counter markets, the stock rose more than 22 per cent on the news.
“This graduation comes at an exciting time for theScore, as we continue the multi-state rollout of our award-winning sportsbook, the ScoreBet,” Score Media founder and CEO John Levy said in a statement.
Earlier this month, just in time for football season, ScoreBet went live in Colorado, and began accepting bets through their iOS and Android betting app. This was the second state where ScoreBet has launched following their debut in New Jersey in a year earlier September, 2019.
The next state on ScoreBet’s expansion list is Indiana. They earned certification for sports betting from the Indiana Gaming Commission in July, but no launch date for Indiana sports betting has been announced.