July 31, 2019 / 11:01 PM / 3 months ago

Media company theScore expands sportsbook with Penn National deal

NEW YORK, July 31 (Reuters) - Digital sports media company theScore Inc. struck a 20-year agreement with casino operator Penn National Gaming Inc to provide access to sports betting markets in 11 U.S. states, the companies said on Wednesday.

The multi-state partnership gives the Toronto-based sports app with 4 million monthly users a chance to become a major player in the nascent U.S. sports betting industry.

It could also be a challenger to fantasy sports sites DraftKings Inc and Flutter Entertainment PLC’s FanDuel, whose sportsbook apps dominate the New Jersey market.

“I can’t wait to go after that,” John Levy, theScore founder and CEO, said of the fantasy sites’ market share, in an exclusive interview with Reuters.

TheScore is the first media company in North America to say that it will become a sportsbook operator itself. It is on track to launch its sportsbook this fall in New Jersey before football season begins. (Reporting by Hilary Russ Editing by Sonya Hepinstall)

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