Penn National Gaming’s recently acquired theScore Bet announced that it has received a boost for its initiative of becoming a licensed sports betting operator in the Province of Ontario. The announcement was made on December 20, 2021, and the company has now been awarded a Gaming Laboratories International GLI-33 certification for its sports betting and iGaming app.
Earlier this year, Ontario announced its plans for launching an open iGaming market for private operators. In the summer, the country enacted Bill C-218, which officially legalized betting on single sporting events, which drew even more interest to the province from industry-leading gambling brands. But first, they would need to undergo an application process.
theScore is a wholly-owned subsidiary of Penn National Gaming, which offers its premium digital media and sports wagering products to millions of sporting fans. Its app theScore Bet is one of the most popular on the continent, as it proved to be one of the best for a complete mobile sports betting experience. It is available in New Jersey, Colorado, Indiana, and Iowa.
CEO of theScore, John Levy, shared that the company is delighted to be one of the first online gaming operators to obtain a GLI-33 certification in Ontario. He added that the team is looking forward to launching the premium sports betting app on their home turf and demonstrating its unrivaled combination of media and gaming to local sports fans.
With his statement, Mr. Levy also thanked the company’s world-class product and engineering teams who have put tons of effort to ensure that the app is ready to debut in the Canadian jurisdiction. And now the company will work on acquiring the next regulatory approval from Ontario’s regulators to ensure its launch in the province’s new iGaming market.
Initially, Ontario’s new iGaming regime was on schedule to start its new market by the end of this year, but it was delayed. Now, after the recent update, the market should come sometime in early 2022. The two responsible regulators for the launch are the Alcohol and Gaming Commission of Ontario and iGaming Ontario, which will be responsible for awarding licenses.
Final Acquisition Details
In October, Penn National Gaming officially finalized the deal for the acquisition of theScore from Score Media and Gaming, in a deal worth approximately US$2 billion. The payment to Score Media and Gaming in both cash and stock shares and was officially sealed on October 19, 2021. Shortly, after that, the company announced to explore its possibilities of entering the Ontario market.
One of Huge Potential
Recently, a study by Bonusfinder.com determined that Ontario, Canada’s most populous province, is set to become the largest sports betting market on the continent. Several factors suggest that the province will be able to surpass all U.S. jurisdictions and break all iGaming records with ease. This is due to the combination of the 15 million population and the potentially wide range of sportsbooks debuting with the launch of the new open market.
Source: “theScore Bet Obtains GLI-33 Certification for Ontario”, theScore, December 20, 2021